Marinade Finance Launches Liquid Unstake on Solana

Marinade Finance users can now instantly unstake their SOL coins staked on any Solana validator in exchange for a 0.3% instant unstake fee.

Marinade Finance 101 on Solana

Billed as the first non-custodial liquid staking protocol built on Solana, Marinade Finance on Sept. 8 announced the launch of “Liquid Unstake,” which lets its users instantly unstake their SOL coins staked on any Solana validator.

Speaking to BSC News on what the new feature means for Marinade Finance, Brandon Tucker, the project’s head of communications said:

“The SOL liquid unstake function is another method Marinade has created to support DeFi liquidity in the Solana ecosystem. All participants of Solana should be staking SOL and Marinade wants to make it as easy as possible for them to contribute to the decentralization of the network while also having immediate access to their tokens so they never miss an opportunity in the DeFi or NFT space.”

Marinade Finance users who stake their SOL coins with a single validator and intend to unstake the same would usually have to wait for 48 to 72 hours to get back their coins. However, with the new Liquid Unstake feature, users can instantly unstake their staked SOL coins regardless of the Solana validator they might have staked with.

According to the blog post, only accounts that have staked more than 1 SOL and are at least two epochs old are eligible to use the new Liquid Unstake feature. A fee of 0.3% is charged for each transaction to unstake SOL. The staked SOL coins are then unstaked and returned to the users’ wallets.

To use the new liquid unstake feature, you can head to marinade.finance/app/staking/.

Source : web3wire

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