Abstract
This proposal requests 25M MNDE from the Marinade DAO treasury to fund the “Migrate” campaign targeting 2.5M SOL TVL growth through strategic incentivization of stake migration to Marinade Native. The budget supports both retail self-service (10M MNDE, 3-month campaign) and institutional custodian-focused (10M MNDE, 6-month campaign) initiatives, plus an additional 5M MNDE allocation for custom prospect deals outside the standard campaign structure.
Participants receive MNDE rewards at a 1 SOL = 10 MNDE rate, with campaigns leveraging recent BitGo partnership and ETF selection to accelerate Marinade’s market position during a critical growth period.
Background & Strategic Context
Market Opportunity: Marinade Native staking offers non-custodial staking with institutional-grade features while maintaining full user control. This campaign targets growth in native staking TVL.
Institutional Validation: Recent strategic developments create timing advantages through the BitGo Integration, making BitGo the first U.S. qualified custodian to support Marinade Native and providing access to $100B+ in institutional assets. The ETF Selection as exclusive staking provider in Canary Capital’s Solana ETF filing establishes institutional credibility, while recently achieved SOC 2 Type I certification meets institutional security requirements.
Competitive Context: The native staking market presents opportunity as institutions and users seek staking solutions that maintain custody while providing professional-grade delegation and rewards optimization. Marinade Native’s positioning requires strategic growth to establish market leadership in this segment.
Proposed Campaign Structure
Institutional Track - Custodian Partnership (10M MNDE)
The institutional track targets existing custodian clients with unstaked SOL or stake on other validators, as well as new institutional clients switching to custodians for Marinade Native access. The approach focuses on direct relationships rather than broad marketing. This track provides non-custodial staking where SOL remains in institutional custody while earning optimized rewards, SOC 2 certified infrastructure that meets institutional requirements, professional validator selection via Stake Auction Marketplace (SAM), and Protected Staking Rewards (PSR) that covers validator performance shortfalls.
The reward structure provides 1 SOL migrated = 10 MNDE tokens with a minimum 6-month commitment period to receive full MNDE rewards. All tracking will be handled manually with verification and distribution processes, while eligibility extends to both stake migration and new SOL deposits. The execution strategy focuses on direct client meetings and relationship management, joint custodian-Marinade sales approaches, custom deal structuring for large prospects, and custodian switching incentives.
Retail Self-Service Track (10M MNDE)
The retail track focuses on individual stakers currently staking with external validators who want to migrate to Marinade Native for better delegation and rewards optimization. This track provides maintaining complete control where no smart contract risk exists and SOL never leaves user wallets, better delegation through access to Marinade’s validator selection expertise with both Max Yield (Stake Auction Marketplace) and Marinade Select options for curated validator sets, reward optimization through competitive validator bidding, and simplified UX for professional staking management.
Participants receive 1 SOL migrated = 10 MNDE tokens with a minimum 3-month staking period for full rewards. The reduced commitment period compared to institutional clients reflects the time-limited nature of the campaign and the need for aggressive retail acquisition before competitors respond. The system uses automated tracking via migrate button functionality, with eligibility requiring migration from existing stake positions to prevent gaming from unstaked SOL. The execution includes an automated migration interface with one-click functionality, co-marketing campaigns with Marinade Select validators, partnership activation with KOLs and ambassadors, and marketing across social channels and community platforms.
Additional Prospect Allocation (5M MNDE)
The additional prospect allocation serves custom deal structuring for high-value prospects outside standard campaign parameters with a minimum 6-month commitment period and the same 1 SOL migrated = 10 MNDE reward rate. This includes large institutional prospects requiring tailored incentive structures, strategic partnership deals with unique terms, competitive response funds for time-sensitive opportunities, and whale acquisition opportunities. This allocation provides flexibility to execute exceptional opportunities as they arise during the campaign.
Budget Allocation & Performance Tracking
The campaign requests a total of 25M MNDE, split between the Institutional Track receiving 10M MNDE and the Retail Track receiving 10M MNDE, with 5M MNDE reserved for custom deals. The reward rate maintains consistency at 1 SOL migrated = 10 MNDE across all tracks to ensure fair treatment and simplify administration.
Budget Usage Clarification: All MNDE allocations are distributed directly to stakers as migration rewards. No MNDE funds are used for payments to KOLs, custodians, validators, or other third parties - the entire budget serves as direct user incentives for SOL migration to Marinade Native.
Performance tracking includes ongoing monthly progress reports documenting TVL growth, participant counts, and MNDE distribution. Budget protection ensures unused allocations return to treasury, with campaigns automatically pausing when individual track budgets are exhausted.
Budget Efficiency & TVL Correlation
MNDE allocation operates on a strict performance-based spending model where funds are directly tied to actual SOL TVL growth achieved. The campaign functions on a “TVL-earned, MNDE-distributed” basis, ensuring treasury funds are only utilized when measurable growth targets are met. This budget protection mechanism distributes rewards only upon actual SOL staking to Marinade Native, meaning if the campaign achieves 1M SOL instead of the 2.5M SOL target, only 40% of the budget would be distributed, with unused MNDE allocations automatically returning to treasury. The system prevents speculative spending by ensuring every MNDE corresponds to verified TVL growth, with campaign budgets adjusting dynamically based on actual participation to prevent overallocation and ensure fiscal responsibility to the DAO.
Expected Outcomes & Success Metrics
The campaign targets 2.5M SOL Native Staking Growth while establishing Marinade Native as a leading non-custodial staking solution.
Rationale & Market Timing
Proven Concept Precedent: Builds on successful MIP-6 allocation (21M MNDE) demonstrating DAO appetite for performance-based growth investments with measurable outcomes in expanding Marinade’s user base.
Institutional Timing: BitGo partnership and ETF selection create unique window to establish Marinade Native as the institutional standard for non-custodial staking before competitors develop similar offerings.
Market Differentiation: Rather than competing directly in liquid staking, this positions Marinade Native as a distinct category serving users who want professional staking management while maintaining full custody control.
Conclusion
The Migrate campaign targets 2.5M SOL TVL growth in Marinade Native through both institutional and retail channels. With the 1 SOL migrated = 10 MNDE reward rate and performance-based budget allocation, funds are only used when actual TVL growth is achieved.