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LibraryCredit and stable value2021Design paperCorpus record

Marinade: a Solana stake pool

Marinade. Marinade.

Marinade publishes a stake pool that delegates SOL across validators and issues a liquid token as a claim on that delegated stake.

A reading of the project's public design document. Not a copy, not a benchmark, and not an offer.

Marinade publishes a stake pool that delegates SOL across validators and issues a liquid token as a claim on that delegated stake.
Evidence
Primary paper
Re-measured
No
Assumptions
3
Records linked
6

01 Claim ledger

What the paper is allowed to say

Each row is a sentence already in the study. The status is the same on every row: a model claim, not a live measurement.

  1. Claim 01 · Paper model

    The defect

    A liquid staking token on Solana is not SOL. It is a claim on a delegation strategy, with the validator risks that strategy takes.

  2. Claim 02 · Paper model

    The proposal

    Marinade publishes a stake pool that delegates SOL across validators and issues a liquid token as a claim on that delegated stake.

  3. Claim 03 · Paper model

    The mechanism

    Deposits are delegated according to the strategy the docs name. The token tracks a share of the pool.

  4. Claim 04 · Paper model

    The bound

    No yield is stated here.

02 Three cuts

Observation, model, falsifier

A desk does not stop at the summary. Each claim is cut three ways, using only this study's own assumptions and checks. Nothing here is a new figure.

  1. 01 The defect

    Observation

    What the study says

    A liquid staking token on Solana is not SOL. It is a claim on a delegation strategy, with the validator risks that strategy takes.

    Model

    What has to hold

    You are reading Marinade's docs, not a validator leaderboard.

    Falsifier

    What would retire it

    Who can change the delegation strategy?

  2. 02 The proposal

    Observation

    What the study says

    Marinade publishes a stake pool that delegates SOL across validators and issues a liquid token as a claim on that delegated stake.

    Model

    What has to hold

    You are reading Marinade's docs, not a validator leaderboard.

    Falsifier

    What would retire it

    How does the document say validators are chosen?

  3. 03 The mechanism

    Observation

    What the study says

    Deposits are delegated according to the strategy the docs name. The token tracks a share of the pool.

    Model

    What has to hold

    No price, supply, yield, or adoption figure is added by this desk.

    Falsifier

    What would retire it

    Who can change the delegation strategy?

  4. 04 The bound

    Observation

    What the study says

    No yield is stated here.

    Model

    What has to hold

    No price, supply, yield, or adoption figure is added by this desk.

    Falsifier

    What would retire it

    How does the document say validators are chosen?

03 Sequence

One action, as an operating tape

  1. 01Deposits are delegated according to the strategy the docs name. The token tracks a share of the pool.
  2. 02A validator's commission and downtime affect the pool. The token does not remove them.
  3. 03Unstaking follows Solana's deactivation rules, not a market maker's quote.

04 Load-bearing

The argument, and where a pitch drops it

  1. What the name has to mean

    The cut

    Marinade publishes a stake pool that delegates SOL across validators and issues a liquid token as a claim on that delegated stake.

    Why it carries weight

    If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.

    Where it is dropped

    A market price below the pool's SOL per token is a market fact, not a change in the claim, and this note states neither number.

  2. What actually moves

    The cut

    A validator's commission and downtime affect the pool. The token does not remove them.

    Why it carries weight

    If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.

    Where it is dropped

    A market price below the pool's SOL per token is a market fact, not a change in the claim, and this note states neither number.

  3. What a later deployment may change

    The cut

    Unstaking follows Solana's deactivation rules, not a market maker's quote.

    Why it carries weight

    If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.

    Where it is dropped

    A market price below the pool's SOL per token is a market fact, not a change in the claim, and this note states neither number.

05 Register

What has to be true

  • Model · Not re-measured

    You are reading Marinade's docs, not a validator leaderboard.

  • Model · Not re-measured

    The document is the one at the source URL. A marketing page with the same brand is not this text.

  • Model · Not re-measured

    No price, supply, yield, or adoption figure is added by this desk.

06 Divergence

What happened after the paper

This is not Lido's Ethereum design. The delegation mechanics differ.

A later client, parameter set, or reward formula is a different object. Cite this paper for the mechanism. Cite a primary release for the network. This desk has not re-run the proof.

07 Pre-mortem

What to check before you use the idea

  4. 0 of 3 marked on this browser. A mark is a reading note, not a pass, a rating, or a recommendation.

08 Anatomy

The paper, in the order a builder needs

The problem it names

A liquid staking token on Solana is not SOL. It is a claim on a delegation strategy, with the validator risks that strategy takes.

What the design proposes

  • Deposits are delegated according to the strategy the docs name. The token tracks a share of the pool.
  • A validator's commission and downtime affect the pool. The token does not remove them.
  • Unstaking follows Solana's deactivation rules, not a market maker's quote.

How the mechanism is specified

  • Deposits are delegated according to the strategy the docs name. The token tracks a share of the pool.
  • A validator's commission and downtime affect the pool. The token does not remove them.
  • Unstaking follows Solana's deactivation rules, not a market maker's quote.

What this page does not treat as proven

  • No yield is stated here.
  • A market price below the pool's SOL per token is a market fact, not a change in the claim, and this note states neither number.
  • This is not Lido's Ethereum design. The delegation mechanics differ.

Why the desk still reads it

Marinade publishes a stake pool that delegates SOL across validators and issues a liquid token as a claim on that delegated stake.

09 Lexicon

Terms, opened into the record

Stake pool
Delegated SOL plus a token claim. The token is not the delegation.
Deactivation
The protocol delay before delegated stake can return. It is a chain rule, not a pool invention.

10 Repository

Every linked record on this page

Underlined words open a page that already exists: a concept, a protocol profile, a failure record, or another paper. If a word is not underlined, this desk does not have a record for it.

This is Blockchain Lab's reading of a public design paper. It is not the paper, not a copy of it, and not an offer of tokens, equity, custody or a partnership. Later network behaviour can diverge from the text. Nothing here is investment, legal or technical advice.

Research status: Design paper. Last reviewed: 1 October 2026. This is a reading of a public paper, not investment, legal or security advice.