MNDE Governance & NFTs
Marinade has introduced governance through NFTs. To obtain an NFT and take part in governance, you just have to lock your MNDE once. Unlocking your MNDE will take 30 days.
On Marinade's app MNDE page, you can lock MNDE in exchange for an NFT. This NFT will display the amount of locked MNDE in its metadata on Solscan. If you are among the first to mint, you might even get a limited edition NFT!
Depending on the amount of locked MNDE in the NFT, your Marinade Chef will have a Level. Levels act as a visual representation of your locked MNDE.
Lock MNDE page
A Marinade NFT will represent an amount of underlying locked MNDE and allow you to:
Only locked NFTs will allow you to participate in Marinade governance. Simply holding MNDE or an NFT in its unlocking period won't give you any voting power or won't allow you to be a Marinator on Discord.
When your NFT is in an unlocking period, it becomes non-transferable. You will need to relock your NFT in order to sell it or send it to another wallet.
When MNDE tokens are locked into an NFT, they can be unlocked whenever you want. After an unlocking period of 30 days, you will be able to burn the NFT and get your MNDE back. Managing your NFTs can be done on the MNDE page. Burning your NFT is a definitive action.
MNDE page on Marinade app
You can cancel the unlocking at any point during the 30 days and you will also be free to keep your NFT instead of burning it at the end if you change your mind. If you choose to cancel the unlocking, the 30-day period will start again.
Remember that only NFTs that are locked and not in their unlocking period give governance rights. You can see your voting power on Marinade's Tribeca page.
Once you have acquired your Marinade NFT, you will be able to actively participate in Marinade governance.
Your NFTs will carry voting power, allowing you to directly vote with them. For each MNDE locked in your NFT, you will get an equal amount of voting power. For example, locking 50,000 MNDE in a NFT will give you 50,000 voting power.
Head over to Marinade's Tribeca page to cast your vote on ongoing proposals. If you want to create a proposal, take a read through mDAO proposals.
When available, you will also be able to manage your gauges allocations on the Tribeca page. The control on those gauges will also depends on your total voting power.
You will only be able to vote with a maximum of 15 NFTs per wallet. If you hold more than 15 Marinade NFTs, please split them in multiple wallets to be able to vote with all of them.
If you already own the NFT, you can just check how much locked MNDE is inside your NFT by going to the MNDE page.
If the NFT is on a marketplace or in someone's else wallet, you will need to identify the SPL Token Address of the NFT. On MagicEden, this can be done easily by clicking on "Open in Solscan" on the 'Mint address' of the NFT.
Once the page opens, you will have two options to identify the number of locked MNDE inside this specific NFT.
- You can use the external link in the 'NFT overview' and directly find the info on the Marinade app page:
NFT Overview on Solscan
- You can also directly find the information on Solscan by clicking on 'Metadata' and then on 'View URI metadata' on the top-right corner.
Metadata tab on Solscan
Once you have clicked on 'View URI Metadata', you will need to find the value "mnde_amount". The following amount will be the number of MNDE locked inside this NFT.
Metadata of a NFT containing 1195 MNDE
It is possible to access a detailed page for any existing Marinade NFT by using the link https://marinade.finance/app/mnde/nft?pid= and adding the SPL token address of a Marinade Chef.
On most marketplaces and on the Solana explorer, the SPL token address of the NFT will be the last string of characters at the end of the URL.
If you have troubles finding the SPL token address of a NFT, don't hesitate to join the Discord and seek for help.
Governance topics will always be discussed on Marinade Forum in order to be thoroughly analyzed. Once the discussion has been finalized, it can be submitted to a vote.
There will also be announcements on Marinade's Discord when a proposal is active and can be voted on.
You can also subscribe to Dialect notifications when you connect your wallet to the Marinade app. You'll be able to receive notifications when a governance proposal requires your vote (and much more.)
If you send your Marinade NFT to someone, you also send the underlying locked MNDE. The person that receives your NFT will be able to unlock it and get back the underlying MNDE for themselves.
When you send or sell a NFT, the votes that they represent in proposals will be conserved. Gauges votes will be cancelled. The new owner can recast the votes before the proposal ends. If you buy a NFT, make sure that you visit the Tribeca page and recast your votes in accordance with your opinion.
Yes, your NFT is yours and can be exchanged or sold on secondary marketplaces.
Nonetheless, please wait until the collections are verified (Limited edition & Regular edition) before using secondary markets. You can join our Discord to follow the latest updates regarding listing.
MNDE tokens can be acquired or sold on any DEX in the Solana ecosystem. We recommend using Jupiter aggregator to find the best prices.
MNDE tokens are distributed through Liquidity Mining, you can use mSOL in DeFi to earn additional MNDE tokens.
MNDE tokens are also sometimes distributed in community events to Marinators. It is also possible to earn MNDE by actively contributing to the Marinade DAO.
Finally, MNDE holders are free to suggest and vote on new ways to distribute and earn MNDE.
Marinade NFTs will represent the amount of underlying locked MNDE in a visual manner! The more MNDE are locked, the bigger your animal will be.
There are 5 different levels for both collections:
- Level 1 - Between 1,000 and 4,999 MNDE locked
- Level 2 - Between 5,000 and 24,999 MNDE locked
- Level 3 - Between 25,000 and 99,999 MNDE locked
- Level 4 - Between 100,000 and 249,999 MNDE locked
- Level 5 - More than 250,000 MNDE locked
You can level up your NFT by locking more MNDE into it. If it goes above the threshold of the next level, the art will change and your NFT will level up. *
You can also lock more MNDE in your NFT without levelling up, in that case, the NFT will just have more voting power in governance.
This is a planned update but that is currently not a priority.
When an NFT is in an unlocking period, the picture will become grey and your NFT will become non-transferable. If you want to send it to someone else or sell it, you will need to cancel the unlocking first.
You will be limited to 15 NFTs for voting on the Tribeca page. If you have more than 15 Marinade NFTs, Tribeca will sort them through numerical/alphabetical order and only consider the first 15 NFTs. The sorting will be applied on the Token Address of the NFT (available on Solscan) and will be done by numbers first, then letters. So "1", "z", "a", "0" would be sorted to "0", "1", "a", "z” (taking into account the first character of the Token Address).
Voting power is equal to the number of locked MNDE in your NFT. If you own multiple NFTs, your total voting power will take into account all your NFTs, in the limits of 15 NFTs per wallet.