Marinade Finance Revolutionizes Staking Rewards with USDG Recipe Update
On November 27, Marinade Finance, a leading non-custodial liquid staking protocol on the Solana blockchain, unveiled a major update to its USDG Recipe, bringing unprecedented flexibility to staking rewards. This innovative enhancement allows users to send their staking earnings to a completely different wallet, breaking away from traditional limitations of reward locking.
Why This Update is a Game-Changer
Until now, Solana staking rewards were always bound to the originating wallet without any flexibility. With this upgrade, users gain the ability to:
- Stake SOL and redirect 100% of USDG rewards to any wallet.
- Capture all inflation, Maximum Extractable Value (MEV), and priority-fee rewards.
- Eliminate intermediary fees and private validator commissions.
- Effortlessly set a wallet address for automated earnings distribution during staking.
These new features streamline financial planning, reduce slippage risks, and save time by removing the need for additional token transfers after distributions. With Marinade’s system, the rewards are sent automatically every two days in USDG, a stablecoin, directly to the designated wallet.
Enhanced Security and Financial Planning
For individual stakeholders, this functionality introduces new opportunities for creative financial strategies. For instance, parents can stake SOL while sending rewards to their child’s wallet as an automated allowance. Businesses can secure their staked SOL in one wallet while routing the yield to a treasury or compliance wallet, maintaining operational security and efficiency.
Unlike some liquid staking protocols, Marinade Finance ensures the original SOL remains fully under the user’s custody and is not locked in a smart contract. This approach enhances security while offering the benefits of staking flexibility without compromising on asset ownership.
Marinade Finance: A Market Leader
With over $2.5 billion in assets under management and $1.48 billion in Total Value Locked (TVL) as per DefiLlama, Marinade Finance continues to lead the Solana staking market. The protocol supports staking delegation across more than 100 high-performance validators, contributing to the security of the Solana blockchain.
Over 65% of Solana’s circulating supply is currently staked, showcasing the network’s growing popularity. This trend fuels competition among staking providers like Marinade Finance and Jito, further solidifying Marinade’s leadership in the market.
Claim Extra Incentives Before December 20
As part of the promotion accompanying this update, Marinade Finance is offering extra USDG incentive rewards to users who stake their SOL via the upgraded system until December 20. Make sure to take advantage of these limited-time benefits!
Want to secure your Solana rewards with ease? Visit Marinade Finance and start staking today.
Market Impact and Recent Developments
Despite the positive updates, Solana (SOL) recently faced market pressure, trading around $142.41 with a 1.27% drop in 24 hours. This decline was influenced by a security breach at the South Korean exchange Upbit, where approximately $36 million worth of SOL was stolen. This incident has resulted in the suspension of SOL withdrawals, affecting liquidity and increasing selling pressures on the Solana network.
Nevertheless, with innovations like Marinade Finance’s USDG Recipe update, the Solana ecosystem continues to thrive as stakeholders explore new possibilities for earning and managing rewards efficiently.
