Marinade was one of the first liquid staking products on Solana. Users stake SOL and recieve mSOL tokens representing their stake, which accrues yield. This can be used in other protocols and ecosystems, unlocking the staked liquidity underneath.

In this dashboard, we will look at the amount of SOL staked into Marinade in February. We will also look at the best mSOL pairs on Jupiter Aggregator.

We will use solana.events to track deposits to Marinade Finance vaults, which is done by executing a deposit instruction on the Marinade program. Jupiter swap data can be aggregated from solana.swaps the curated table.

• Around 8 Million SOL has been staked
• Almost 6 Million of this SOL comes on March 2.
• Over the past few days, staking amount has been increasing.

• On average 700 Sol is staked on any given day
• Only on March 2 we see on average 10K SOL being staked.
• Most days have sub 500 SOL staked on average, hence it is possible, that March 2 alone drives up the average.

• The max amount staked in a single transaction was 105,000 SOL.
• March 2 doesn't seem to be an anomaly here

Checking the top 10 swap combinations on Jupiter:

• USDC pair leads with almost 60% of all swaps involving mSOL
• Wrapped SOL comes next and USDT third.
• mSOL isn't used much outside of swapping between USDC or USDT or wSOL, in terms of swapping activity.