Marinade Finance dApp on Solana
All about Marinade Finance and how to connect to it with your Exodus Browser Extension.
In this article:
- What is Marinade Finance?
- How do I connect my Exodus Browser Extension to Marinade Finance?
- How do I approve a transaction on Marinade Finance?
What is Marinade Finance?
Marinade Finance solves a Solana liquidity issue caused by the amount of SOL that is locked up for staking. When Solana is staked it can take several days to stake and unstake making it difficult to actively participate in trading while staking SOL.
Read more about Solana staking in our article: Staking Solana (SOL) FAQs.
This is where Marinade Finance comes in. It's the first non-custodial staking option for Solana.
When you stake SOL with Marinade Finance, you are given mSOL (marinated SOL) equal to the amount of SOL you staked. You can then use mSOL for DeFi protocols such as lending, collateral, trading, and more, all while continuing to earn yield from the underlying SOL.
The price of mSOL tracks the price of SOL and you can unstake immediately at any time for a small fee, or for free if you're willing to wait for the traditional unstaking period. And because Marinade Finance is non-custodial, your tokens remain under your control.
How do I connect my Exodus Browser Extension to Marinade Finance?
- Go to Marinade Finance and click Go to app.
- Review the terms and conditions and click Agree.
- Click Connect wallet.
- From the list of wallets, select Exodus.
- On the connection approval screen, click Connect.
And that's it! You're now ready for liquid staking with Marinade Finance.
How do I approve a transaction on Marinade Finance?
- a) Enter an amount of SOL to stake, then click Stake SOL.
- Your Browser Extension will then pop up and ask you to approve the transaction. Click Approve.
And you're all set! Enjoy that marinade SOL!