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Additional rewards for using $mSOL on the app!

December 2, 2021

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GM! 👋

As you may have noticed, we've added a new collateral token - $mSOL by Marinade 🪙
Now, to encourage you to use this token, together with Marinade, we decided to introduce an additional rewards system for users using this token as collateral 🎁

How is it works?
To start participating, you need to deposit $mSOL as a collateral in our app and mint a debt. The higher the debt and the amount of $mSOL - the higher the reward. Each week we will distribute to you $MNDE - Marinade token 💰
We will also automatically send it to your wallet, there will be no need to claim it.

How are we calculating it?
Distribution will be on a credit basis. Which will be calculated from the two values.

Because of this feature it will be possible to get even two rewards 🎁🎁
First in $SNY, for participating in the debt and the second one in $MNDE for depositing $mSOL.

About $mSOL and Marinade
Marinade is a DAO that helps Solana to become the most decentralized, capital-efficient, and easy to work with. Its liquid staking product allows people to stake their SOL to over 400 well-performing validators, and at the same time unlocks staked SOL liquidity by receiving mSOL in return. They can further use mSOL in DeFi, or to swap back to SOL any time they want.

If you'd like to know more about Marinade, check out their twitter and website.


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