Marinade is a liquid staking solution on Solana. The Marinade finance protocol enables SOL token holders to stake their tokens to hundreds of validators with an algorithm based on a delegation strategy set by the Solana foundation designed to secure and decentralize the blockchain. Stakers at Marinade receive mSOL, a tokenized version of staked SOL designed to be pegged to the value of SOL and be widely adopted throughout the Solana DeFi ecosystem. mSOL holders earn yield from their SOL tokens through mSOL and also have the ability to earn additional yield through Solana ecosystem protocols that support mSOL.

Marinade is a DAO and MNDE is the governance token. MNDE enables token holders to take part in the governance of the Marinade protocol and treasury. 

Marinade was founded in March, 2021 following a third-place finish in the Solana x Serum Hackathon. The company was funded by grants through the Solana Foundation and Serum and no venture capital. The Marinade protocol's mainnet launched August 2, 2021 on [Marinade.Finance](http://marinade.finance/). The MNDE token began publicly trading on October 7, 2021 after the start of Marinade’s liquidity mining program. 

## How many MNDE tokens are in circulation?

As of January 2022, 64,429,067 MNDE have been distributed through [liquidity mining]([https://docs.marinade.finance/tokenomics/liquidity-mining](https://docs.marinade.finance/tokenomics/liquidity-mining)) or as [retroactive rewards]([https://docs.marinade.finance/tokenomics/retroactive-rewards](https://docs.marinade.finance/tokenomics/retroactive-rewards)) to early users of the Marinade protocol. There is a maximum supply of 1 billion MNDE and the circulating supply can be monitored on this [page]([https://stats.marinade.finance/](https://stats.marinade.finance/)). You can read more on our [tokenomics]([https://docs.marinade.finance/tokenomics](https://docs.marinade.finance/tokenomics)) page.

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