[mDAO proposal] add liquidity gauge to mrgnlend mSOL pool

Governance
#1

Hi all, this is Anders from mrgn.

What do we propose?

We are proposing Marinade’s DAO add a gauge to the mSOL pool on marginfi/mrgnlend. We see this as an opportunity to grow mSOL’s dominance in Solana DeFi and create a better staking experience with our upcoming superstake product.

Why marginfi?

marginfi has seen strong initial traction in the mSOL pool. There are currently over 11,000 mSOL in deposits just a few weeks after listing with 0 incentives.

marginfi has additionally seen strong community demand for a gauge to be added. Numerous request can be found in the responses to marginfi’s tweets and in the Marinade Discord.

The addition of $MNDE incentives will accelerate these positive flywheels in place and lead to greater mSOL adoption.

Next Steps

If the community is supportive of this proposal, we’d like to work together to come up with an initial commitment of MNDE rewards to support the development commitment on our end and also a plan to increase rewards if certain new mSOL growth milestones are reached.

3 Likes
#2

I think this is a good idea. mSol makes great lend collateral and we don’t have many lend incentives for the gauges currently.

#3

i think, its quite useful proposal to be voted for. liquidity gauge feature will 100% increase utility on marginfi/mrgnlend and improve the protocols UX as well

#4

Hope this proposal helps bringing back mSOL liquidity to the space!

#5

Hello, we discussed internally and looked at the sentiment here and on socials and it seems that people are eager to see a mrgn gauge for mSOL :slight_smile:

Happy to announce that we’ll open a gauge for you ASAP and will ping here when it’s available to be voted on with Chefs NFTs!

2 Likes