Abstract
This proposal requests authorization to transfer 3,106 mSOL and 15,000,000 MNDE from the Marinade DAO treasury to a designated Squads wallet governed by members of the Marinade Council. The wallet will be used to directly provide liquidity in the MNDE/mSOL pool on Orca. This initiative supports MNDE liquidity, utilizes idle treasury assets, and allows for active management of the position under DAO-aligned oversight.
Background & Strategic Context
DAO Treasury Reserves
The DAO currently holds:
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3,106 mSOL
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~144M MNDE
These assets are unallocated and present an opportunity to deepen MNDE’s liquidity on decentralized exchanges, thereby improving the trading experience and enabling more integrations with Solana DeFi protocols.
Liquidity as Infrastructure
Healthy token liquidity is a strategic asset. By deploying DAO-held MNDE and mSOL into the MNDE/mSOL pool on Orca, the Marinade DAO can:
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Reduce slippage and improve price stability
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Support MNDE’s integration across aggregators, wallets, and DeFi apps
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Maintain complete control over the position
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Generate yield through organic trading activity
Execution Structure
A new Squads wallet will be created and operated by members of the Marinade Council (with a 3-of-5 governance threshold). This wallet will:
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Receive 3,106 mSOL and 15,000,000 MNDE from the DAO treasury
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Provide liquidity directly into the MNDE/mSOL pool on Orca
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Manage the liquidity range and rebalance as needed
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Serve as a transparent, accountable mechanism for on-chain position management
This setup provides the DAO with operational flexibility while maintaining robust governance controls.
Proposal Specification
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MNDE: 15,000,000
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mSOL: 3,106
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Destination: Squads wallet created and governed by the Marinade Council
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Use of funds: Direct liquidity provision into the MNDE/mSOL pool on Orca
The MNDE allocation is slightly increased from the previously proposed amount to account for pool balance ratios and anticipated trading fees.
Benefits
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Increases MNDE trading liquidity and reduces slippage
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Improves user and partner experience across Solana DeFi
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Puts idle assets to work in a productive, DAO-controlled strategy
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Enables future integrations by ensuring accessible token markets
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Supports MNDE’s utility and protocol alignment without increasing supply
Risks
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Impermanent loss if MNDE and mSOL diverge significantly in price
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Market volatility may affect the pool’s performance
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Operational risk in active liquidity management by the wallet
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Custodial trust in the Squads configuration (mitigated by Council control)
Budget & Custody
No new MNDE will be minted.
The proposal solely reallocates existing DAO-held assets.
The Squads wallet will retain full custody of the position and report activity transparently.
The DAO may vote to rebalance, withdraw, or reallocate funds at any time.
Success Metrics
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MNDE/mSOL liquidity depth increase on Orca
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Reduced slippage and improved price discovery
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Measurable trading volume and potential fee yield
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Visibility of MNDE across DeFi interfaces and tools
Conclusion
MIP‑16 proposes a responsible and efficient use of idle treasury assets to support MNDE liquidity on Solana.
By leveraging a Council-controlled Squads wallet to provide liquidity directly into Orca, the DAO strengthens the MNDE ecosystem, improves trading conditions, and builds protocol-aligned infrastructure—all while retaining complete control over assets.