Miami, Florida--(Newsfile Corp. - June 23, 2022) - Avana Wallet, a Solana blockchain non-custodial crypto wallet, announced the in-app integration of Solana liquid staking using Marinade Finance. Avana Wallet users can now exchange their Solana SOL for Marinade mSOL and begin accruing staking rewards in seconds with just a few clicks.
Marinade is a non-custodial liquid staking protocol built on the Solana blockchain. Marinade enables users to stake SOL tokens using automated staking strategies and receive "marinated SOL" tokens (mSOL) that accrue staking rewards continuously. The price of mSOL appreciates gradually relative to Solana SOL as staking rewards earned by Solana validators are distributed to mSOL token holders. The current staking reward APY of Marinade mSOL is 5.8%.
Avana Wallet syncs with Marinade's on-chain smart contracts and off-chain API to provide users real-time data including the current staking reward APY, total value locked, the number of Solana validators participating in the program, liquidity pool funding, and unstaking fees. Users interact directly with Marinade smart contracts when they swap their SOL for mSOL using Avana Wallet.
"We are strong advocates of the win-win solution that Marinade's liquid staking program offers to the Solana ecosystem. Marinade makes it easy for Avana Wallet users to swap their SOL for mSOL and begin accruing staking rewards in a matter of seconds," said Patrick McGlynn, CEO and Founder of Avana Wallet. "Marinade's...
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