Marinade implements a 0.1% fee on delayed unstake operations

The immediate implementation of a 0.1 % fee on delayed unstake operations following the approval of governance proposal MIP-8.1

output: A small fee will now be levied on delayed unstake operations.

The proposal to introduce a 0.1% fee on delayed unstake operations has been approved, and it will take effect immediately, according to a recent announcement by DeFi protocol, Marinade.

The approved proposal, known as MIP-8.1, aims to modify the unstaking behavior of the protocol.

The move comes in response to feedback from the community, which highlighted the potential for users to accumulate coins through a strategy of quickly restaking after unstaking. This strategy could lead to a large accumulation of coins by a small number of users, which could have implications for the broader community and the protocol's development.

However, introducing a standard unstaking fee was deemed economically inefficient and could disincentivize users from unstaking, rendering the protocol less useful.

To mitigate this, the proposal suggests introducing a "minimal" fee of 0.1% on delayed unstake operations. This fee will be collected only when a user unstakes coins after a time period that is "sufficient to allow for community discussion and cooperative action."

The approved proposal will also create a new "timed unstake" operation that enables users to specify a future time at which they wish to unstake their coins.

This feature aims to provide users with greater flexibility and control over their unstaking activities.

The approved proposal will be implemented immediately, according to the announcement. It will take effect on 20 May 2025 at 08:00 (UTC).

The MNDE token serves as a governance mechanism for the protocol, which is operating on the Solana blockchain. It was launched in October 2021 without an Initial Coin Offering (ICO) or Venture Capital allocation.

The token grants holders the power to participate in the decision-making processes, such as voting on proposals and influencing delegation strategies.

A distinct feature of the MNDE token is its role in directing 20% of the total SOL in the Marinade Stake Pool, thereby offering influence over validator selection. It also supports tools like the MNDE calculator to assist users in estimating expected ROI.

Holders of locked MNDE tokens can exercise governance over the protocol’s treasury and influence its development.