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mSOL in Kamino Finance now accounts for Marinade Earn

source-logo  cryptonewsz.com 24 November 2023 17:40, UTC

Marinade Earn, an incentive program, will consider mSOL in Kamino Finance. That is the new borrow/lend product of the platform, which has made its way into the program that rewards for staking SOL and referring friends. The development was announced by Marinade and confirmed by Kamino, saying that it results from what Marinade Chefs have cooked over time.

mSOL caps will be announced soon, and Kamino Finance will drop hints for customers to boost MNDE earnings through Kamino.

This has boosted the price of MNDE but dipped the valuation of mSOL. While MNDE has gained 2026% in the last 24 hours, mSOL has lost approximately 0.14% during the same time. Nevertheless, Marinade Staked SOL has jumped by 1.70% to $66.62 in the last 7 days.

Having said that, Marinade is up by 19.57% in the last 7 days and 260.44% in the last 1 month. Signing up at Kamino Finance to get started with mSOL and its potential in Marinade Earn is recommended. Interested users can access its official website after checking all the key features at the Kamino Finance review and signing up with the available options. Users can seek support services through X (formerly Twitter), Discord, and Reddit in case of any issue.

In regard to rewards within the Marinade Earn program, the stake of 100 SOL tokens yields 100 MNDE for users. Alternatively, they can earn 1 MNDE in rewards for each SOL wagered on the platform by a user they refer (relative, acquaintance, etc.).

Kamino has been identified as Solana’s lending, liquidity, and leverage venue. It is fresh from the launch of Kamino 2.0, marking the introduction of the industry-leading borrow/lend market with a brand-new user interface, unique DeFi tools, and unified risk management. Kamino 2.0 has culminated over the efforts invested in the last year.

Moving forward, Kamino has expressed commitment to offering support to yield-bearing kTokens as collateral via Kamino Lend to demonstrate the optimization and composability of DeFi. Kamino Finance will also share more details pertaining to incentives, leverage controls, and automation in the days to come.

Kamino Finance, for now, has taken the lead in integrating $JLP through Jupiter Exchange perps. The token is exchanging hands at $1.46, a jump of 1.4% in the last 1 day and a 24-hour volume of $285,529.

The support for innovation by Kamino Finance has a historical background. Obtaining such a supportive reach is consistent with Marinade’s mission and primary objective, which is to promote widespread adoption.

Interestingly, Kamino Lend became the fastest-growing protocol on Solana in just one week from the time it went live.

mSOL in Kamino Lend now makes up for the Marinade Earn program. This expands the ways in which users can earn rewards in the ecosystem.