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    Usage of mSOL and MNDE Tokens in Solana Liquidity Pools

    hexagon

    Flipside AI

    Solana's decentralized finance ecosystem shows robust activity, with Marinade Finance leading the charge: the platform recorded 2.5m total transactions, attracted 110,656 unique users, and processed 12.47b USD in deposits. Decentralized exchanges like Meteora, Orca, and Raydium processed over 12.5b USD in liquidity pool transactions, with the SOL-mSOL pool dominating 83.6% of deposit volume. The network maintains consistent daily activity at 1,973 transactions, with deposit volumes peaking at 176,363 transactions in November 2023, representing a 75% increase from the previous year.

    Top Pool Analytics and Insights đź’§
    Liquidity Changes Stats (Add/Remove) per Platform↔️
    Liquidity Addition and Removal Metricsâž•âž–
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    mSOL and MNDE are integral to the Marinade protocol on the Solana blockchain.

    • mSOL is a liquid staking token that represents staked SOL. When users stake their SOL through Marinade, they receive mSOL tokens in return. These tokens not only earn staking rewards but can also be used in various decentralized finance (DeFi) applications, such as providing liquidity in liquidity pools, paired with SOL or stablecoins, on decentralized exchanges (DEXs) like Saber and Orca. Users who add mSOL to these pools earn a share of the transaction fees and additional rewards, depending on the pool’s structure.

    • MNDE is Marinade's governance token, providing holders with voting rights to help govern the protocol. Additionally, MNDE serves as an incentive for liquidity providers on the platform, rewarding users who add liquidity to mSOL pools with MNDE tokens.

    Both mSOL and MNDE are key to participating in Solana's DeFi ecosystem, offering users the ability to earn rewards both from staking and liquidity provision

    Disclaimer: Flipside AI is here to help but it can make mistakes. Always review outputs and use the upvote/downvote buttons to help us improve. This content is not financial advice.