We’d like to revive this conversation and move the topic forward. We have been discussing internally how to best go about tracking value locked, and are currently leaning towards there not being a “one size fits all” towards tracking.
I currently see four major areas:
Keep at protocol vault;
Hold on your own wallet;
Validators using liquid self-stake;
Referrals from projects without vaults.
Case 1 is easy enough to track: we can check how much TVL is there on a vault during a month, and reward the protocol based on that. It would be up to the protocol to decide if to keep or distribute to its users (the latter would effectively act as extra liquidity incentive rewards).
Case 2 & 3 require more active tracking, and they are something that we likely won’t have ready on day 1 without delaying the launch.
We are unsure how to handle or track case 4, as it seems to be a more fragmented version of 2. This one will likely require more design, or simply the project using a referral code and then requesting a grant from the DAO.
The initial proposal suggests providing rewards for the next 12 months of the program running. A current approach to launch this and then adapt the program as we go would be to modify the terms so that:
We have a rolling launch across 3 months, likely launching with only one tracking mechanism and others coming in those months;
Stakers will get rewarded for the TVL provided during the 12 months from the launch of the program covering their case;
Marinade may decide to implement some other tracking approaches during this rolling launch, as there may be other cases we haven’t considered, and we’d like to avoid having to design this in the abstract;
The team may also find that it cannot implement the tracking necessary for one of these in the time required, so one of these cases maybe out - I’m listing them only as some of the possible paths to pursue.
This should provide us with the flexibility necessary to adapt as we launch the program to ensure we bring in a diverse group of ecosystem participants.
Marinade will shortly be moving forward with the Open Doors program.
If you’re planning on participating, please answer this forum post with the name of your protocol and a confirmation that you want to be included in it.
Edit:
Please also provide a RPC call or an API that Marinade can use to monitor your mSOL TVL. Feel free to add it there or contact me on Discord or Telegram.
Hello Chefs, I’m a core contributor to Raydium. Raydium is looking forward to participating in the program.
Incidentally, I have remarks regarding the periodicity of the emissions. I understood from the previous chat that it would be done by semester or quarter. While this is probably easier for you, I suggest doing it monthly or at least every two months to allow protocols that are distributing the mnde to actually reward LPs.
We have finalized the terms and they are available on this one-pager.
We’ll now collect the participation confirmations here as well as the ways to track mSOL TVL for protocols, and the program will officially launch on February, 1st!
Ronny here, from SunriseStake.com. that allows you to stake SOL and help grow more trees. When you stake your SOL for gSOL, it is deposited into Marinade to earn yield. This yield is used to support nature + climate positive projects.
Confirming Sunrise’s participation in the Open Doors Program.
really interesting to hear who will be eligible for this TVL program (40m net SOL staked), cause, i think, it will boost greatly net flow of SOL to the Marinade Protocol. Moreover, increasing the SOL TVL itself by locking it in the LPs around here. But the long distribution method of the MNDE reward i like the most
