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Marinade Liquidity Mining Gauges

June 11, 2022

Bug bounty

Our friends - Marinade, recently launched Liquidity Mining Gauges. In this post, we will introduce to you, what is it, what is the benefits, and how to participate in it.

What is Marinade

Marinade Finance is a non-custodial liquid staking protocol built on Solana.
You can stake your SOL tokens with Marinade using automated staking strategies and receive "marinated SOL" tokens (mSOL) that you can use in decentralized finance (DeFi). The price of mSOL goes up relative to SOL each epoch with rewards being accrued into the underlying staked SOL.

What is a gauge?

A gauge is a governance mechanism allowing you to use your voting power to allocate your share of governance where you desire in a specific way.
For example, let's imagine that there are only 1000 locked MNDE used in the Validators gauges, and those MNDE control the delegation of 2M SOL. If you own 10 locked MNDE in the gauges, you could allocate 1% (or 20,000 SOL) to the validator of your choice.

How to vote?

  1. Lock your MNDE tokens on Marinade and receive your Chef NFT. The more tokens you are locking, the better NFT you can get. Once you have acquired your Marinade NFT, you will be able to actively participate in Marinade governance.
  2. Connect your wallet that contains at least one NFT Chef to Tribeca.
  3. Click on 'Validators Gauges'. The gauges page will open.
  4. Click on 'Cast votes' and look for the validator(s) you want to support.
  5. You will be able to split your voting power in the way you desire, by using the 'weight' field for each validator of your choice.You can delegate your total voting power to one validator, or choose up to 5 validators.
  6. Click on the 'Update weights' button and then on the 'Execute all' button to send the necessary transactions to cast your votes to the blockchain.
  7. Your votes are now registered and will influence the score of the validators over the next epochs.

Vote for us now to get higher APY from our platform!

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