Intrroduction

Marinade Staked SOL (MSOL) is the first Liquid staking protocol built on Solana. Marinade by delegating staked sol to multiple liquidity pools makes Solana more censorship-resistant and composable and aligned with decentralization.

Users can stake SOL with Marinade and receive mSOL tokens in return. Then they can use msol in other DeFi protocols and earn additional yield.

mSOL can also be swapped for other tokens on decentralized exchanges like Jupiter and Orca.

In this dashboard we investigates:

• the amount of SOL staked on Marinade since the beginning of February

• the average amount of SOL staked on Marinade per transaction

• the 10 largest transactions

• the distribution of SOL staked per transaction.

• the most popular tokens that mSOL is swapped for on Jupiter

Results

SOL staked on Marinade

The graph below shows the amount of SOL staked on Marinade since the beginning of February.

As can be seen from the data, the daily amount of Sol staked with Marinade has sharply decreased after the first of week of February.

Summary of findings

• The amount of staked SOL and number of transactions on Marinade has been considerably decreased after the first week of February. We should investigate whether this trend began before February or this week is only a spike.

• On average 35 SOL per transactions has been staked on Marinade.

• The 10 largest transactions in February ranges between 5,7K SOL and 26K.

• The distribution of mSOL received through staking SOL on Marinade is a power law trend. It is interesting that to see the many participated in Marinade with the low amounts of sol.

• The mSols received from marinade partly is swapped by other tokens. The most popular one in February was USDC.

The graph below shows also the number of transactions has also decrease except days on 17,18, and 19th.

Average amount of SOL staked

Since February 1st, in total, about 325K SOL has been staked on Marinade by about 9K transactions. The average amount per transaction is about 36 SOL. The detail can be found in the table below.

10 largest transactions

Table below lists the top 10 transactions. the top transactions has made on February 5th with the amount of 26K SOL.

Distribution of SOL staked

The histogram below shows the distribution of SOL staked per transactions. As can be seen the graph follows power law.

The large number of transactions has staked small amounts of SOL and small number of transactions has staked large amounts of SOL.

We can split the data two transactions of more than 10 SOL and less than 10 SOL.

As can be seen, the power law can be observed all through the amounts.

Most popular mSOL pair tokens on Jupiter

The graph and table below show the most popular tokens that has been swapped against mSOL.

As can be seen the USDC is the most popular one.