BitGo Launches Expansion of Solana Staking Rewards With Marinade Labs
Two elements of Marinade Native set it apart from other staking options: its Stake Auction Marketplace (SAM) and its Protected Staking Rewards (PSR). When a BitGo client stakes with Marinade, they are not delegating to a validator run by Marinade. Instead, multiple validators bid on the delegated Solana. Marinade's protocol passes validator rewards back to the user, giving them a higher-than-market-average staking rewards rate. Additionally, BitGo clients retain custody of their Solana while staking with Marinade Native; staking rewards are earned while their Solana remains securely in their wallets.
Marinade's staking protocol is also embedded with protected staking rewards. This feature protects Marinade stakers, as it reimburses stakers for any unexpected underperformance of a validator in the stake pool (such as through commission changes or prolonged downtime). Validators that partner with Marinade sign onto an onchain bond with Marinade. This is done through an onchain bond created by Marinade, and each validator in the pool is required to cover 100% of the rewards lost when their uptime falls between 50% and 99%.
'BitGo is committed to providing the best infrastructure and highest potential rewards for our clients to engage with Solana's explosive growth,' said Jake O., Head of Ecosystem Sales at BitGo. 'Through our integration with Marinade, our clients can stake Solana with confidence while contributing to the decentralization and security of the network.'
'Anyone invested in the future of Solana should be staking,' said Michael Repetný, CEO of Marinade Labs. 'And when ecosystem leaders like BitGo make a fully non-custodial option available for them to do so, it makes it easier for everyone - from individuals to institutions - to tap into Solana's staking economy. BitGo clients maintain complete control of their assets while staking with Marinade and contribute significantly to the security and decentralization of the Solana blockchain thanks to the automatic delegation of their stake to a diverse set of well-vetted, high-performing validators.'
"This integration with BitGo is a testament to how far staking, especially institutional-level staking on Solana, has come. It's now a core component of institutional cryptoasset investment strategies," said Hadley Stern, CCO at Marinade Labs. "By working with a trusted qualified custodian like BitGo, we're ensuring that institutions have the secure, transparent, and non-custodial solutions they need to participate in the staking economy with confidence."
Since its launch last year, Marinade Native has rapidly grown to become one of the largest staking solutions on Solana, offering institutions and retail users a way to stake securely while reinforcing the decentralization of the Solana network. More than 4.48m Solana in TVL has been staked through Marinade Native to date.
About BitGo
BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.
About Marinade Labs & Marinade Native
Marinade Labs develops staking technologies that strengthen Solana. In 2021, our protocol was the first to bring liquid staking to the network; today, our sophisticated, high-performance staking delegation platform brings billions in liquidity and security to the Solana market. We have solutions for both DeFi and TradFi, including liquid and native staking and direct enterprise integrations. Our best-in-market features include SOCII compliance, user downside protection (through protected staking rewards) and optimized delegation (via our automated auction marketplace). Cryptoasset investors worldwide, from individual traders to global institutions, use Marinade to earn rewards on their SOL treasuries and holdings. We are headquartered in New York, with offices in the European Union, including Prague. To learn more about Marinade, visit marinade.finance.
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