> For the complete documentation index, see [llms.txt](https://docs.marinade.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.marinade.finance/marinade-protocol/protocol-overview/fees-and-pricing.md).

# Fees and Pricing

## Overview

This page is the single reference for every fee and cost across Marinade's products. It covers what each fee is, how it is calculated, whether it is fixed or variable, and which costs come from third parties rather than from Marinade. Marinade charges no deposit fees on any product.

## Fees at a Glance

<table><thead><tr><th>Product</th><th width="134">Staker Performance Fee</th><th>Instant Unstake</th><th>Delayed Unstake / Withdrawal</th></tr></thead><tbody><tr><td>Marinade Native</td><td>None</td><td>Dynamic, typically 0.10% to 0.40%, set by the market</td><td>0.2% (20 bps), min 0.003 SOL</td></tr><tr><td>Marinade Select</td><td>None</td><td>Dynamic, typically 0.10% to 0.40%, set by the market</td><td>0.2% (20 bps), min 0.003 SOL</td></tr><tr><td>Custom Reward Tokens</td><td>None</td><td>Dynamic, typically 0.10% to 0.40%, set by the market</td><td>0.2% (20 bps), min 0.003 SOL</td></tr><tr><td>Marinade Liquid (mSOL)</td><td>None</td><td>No protocol fee, market price impact may apply</td><td>0.2% (20 bps)</td></tr><tr><td>USDC Earn Vault</td><td>5% on net interest</td><td>Not applicable</td><td>No fee, instant withdrawal</td></tr></tbody></table>

Delayed unstake on staking products completes after about 1 epoch (roughly 2 days). Instant exits settle immediately, and USDC Earn Vault withdrawals are always instant.

## How Marinade Earns

On the SOL staking products (Marinade Native, Marinade Select, Custom Reward Tokens, and Marinade Liquid), Marinade does not take any cut of the staking yield delivered to stakers. Protocol revenue is paid on the validator side, and every SOL staking product follows the same economic principle:

> Marinade targets the Solana Staking Index (SSI) APY for stakers. Yield generated above that target is protocol revenue. Because the share depends on yield above the target, the protocol's take is variable rather than a fixed percentage of rewards.

How that validator-side revenue is collected varies by product:

* **Native and Liquid (mSOL):** Validators bid for stake allocation through the Stake Auction Market (SAM).
* **Select:** Validators pay protocol fees through a bilateral agreement booked against the Select bond: 20 bps to Marinade plus up to 10 bps to the validator, on TVL annually.
* **Custom Reward Tokens:** A single Marinade-run validator handles delegation. Rewards are converted and delivered to the staker's wallet in the chosen reward token.

For Marinade Native specifically, this validator-side path is the only one structurally possible. Stakers keep custody of their stake accounts, so a protocol cut on staker yield could not be taken even if Marinade wanted to.

The USDC Earn Vault works differently. It is a lending vault, so Marinade takes a 5% performance fee on the net interest earned. There are no deposit or withdrawal fees, and withdrawals are instant.

### Other Costs to Keep in Mind

Some costs apply when using Marinade but are set by the network or by third parties, not by Marinade:

* **Solana network fees:** Standard per-transaction fees paid to the Solana network. For Marinade Native, Marinade covers the rebalancing fees each epoch.
* **Market liquidity spreads:** On instant unstakes, any market-maker spread or price impact is a market cost, not a Marinade fee. The full execution price is shown before the action is confirmed.
* **Third-party fees:** DEX, wallet, or exchange fees can apply when routing through other venues. These are independent of Marinade.

### Unstaking a Directly Staked Position

Direct staking is not a Marinade product. It refers to SOL staked directly to a validator outside Marinade. Holders of such a position can exit it through Marinade if they choose: the same market-set pricing as Marinade Native applies on an instant exit, and a delayed exit carries no Marinade fee beyond the standard Solana network transaction fee.

## Revenue Allocation

Following [MIP-17](https://forum.marinade.finance/t/mip-17-refocusing-from-buybacks-to-building-liquidity/1960), protocol revenue funds liquidity provisioning and ecosystem development rather than automatic MNDE buybacks. Live figures are published on the [Marinade DAO Revenue dashboard](https://app.hex.tech/0195d1d1-bfc7-7001-8243-11ff2c293f01/app/Marinade-DAO-Revenue-030vg9JLITAA3GSoN8ee4y/latest) and on-chain through the [Marinade DAO on Realms](https://v2.realms.today/dao/899YG3yk4F66ZgbNWLHriZHTXSKk9e1kvsKEquW7L6Mo).[s treasury](https://v2.realms.today/dao/marinade/treasury).


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