Marinade Finance, one of Solana’s leading DeFi protocols, passed the vote on burning 30% of its token supply. The news triggered an MNDE token rally of over 10% in the past day.
Marinade Finance (MNDE) passed the vote to burn 30% of the native token supply. Marinade Finance held a long-running vote on the proposal to burn tokens and boost the position of MNDE.
The transaction for MNDE will happen in two days, destroying 300M tokens forever. The proposal received 100% votes in favor.
🔥 The burn proposal has passed quorum!
In 2 days, 30% of $MNDE supply, 300,000,000 tokens will be sent to the burn address and gone forever.
This is true community alignment. The kitchen is cooking 👨🍳 pic.twitter.com/lTtR9Cw9mn
— Marinade 🛡️ (@MarinadeFinance) September 3, 2025
Marinade’s decision to burn tokens follows a similar approach by other projects. In August, burns were announced for the OKX token, OKB. Mantra (OM) also plans a token burn to recover some of its lost value.
The expectation of the token burn and the actual announcement boosted the MNDE market price. The token is up over 56% in the past month, trading at $0.14. MNDE trading volumes also expanded to a one-month high.
MNDE is a relatively obscure token, with no Hyperliquid speculation and limited data on derivative trading.
Marinade benefits from the growth of the Solana DeFi ecosystem
Marinade Finance now locks over $2.2B in total value, near its all-time peak. The protocol fees have been rising since the market slump in April, with regular inflows of nearly $500K daily.
In the past month, Marinade Finance expanded its underlying value by nearly 20%, establishing itself as a top 10 Solana project.
Marinade Finance also added to the growth in Solana-based liquid staking. Marinade staked SOL (MSOL) is the fourth-largest Solana LST by market capitalization, following the tokens of Jito, Binance, and Jupiter.
Recently, SOL staked in those protocols reached an all-time peak above 57M tokens. Liquid staking on Solana arrived later compared to Ethereum, after copying its successful model. Additionally, Marinade showed it is keen on supporting validators by offering both simple and liquid staking for its clients.
A total of 13.65% of the SOL supply is staked in LST protocols. The potential for passive income and DeFi usage boosts demand for locking up SOL.
MNDE is seen as an undervalued token
MNDE is seen as a relatively overlooked token, which is now rising as Solana’s liquid staking reaches new peaks. MNDE may be a proxy for SOL demand, where holders also seek reliable staking services. Marinade’s burn move may boost the project’s visibility, as it competes with the rest of the liquid staking services.
Recent data shows smart money whale accumulation for MNDE. The burn also shows robust community engagement and belief in the project’s future.
The Solana ecosystem accelerated in August, surpassing even Ethereum in some of its DeFi metrics. The network got a boost in value transfers, with a new inflow of USDC. SOL also recovered above $200, with signs of funds rolling over from Ethereum. SOL traded at $210.12, getting a boost from DEX activity and a pickup in meme tokens.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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