When it comes to "stake", many people will frown.

After all, too many projects come out with an extremely high APY, and the community keeps shouting "easy money" every day. As a result, your stake hasn't even matured yet, and the price of the coin crashes~~

To put it bluntly - tokens without real profitability are nothing more than a Ponzi scheme of "stake mining," just a game of passing the buck.

But $MNDE is different.

This is the governance token of the staking protocol Marinade @MarinadeFinance on Solana!

Marinade is the first protocol on Solana to launch a liquid staking token (mSOL), which has been running on the mainnet since 2021. There are now over 150,000 mSOL holders, and the protocol's TVL exceeds 11 million SOL, ranking it among the top DeFi projects on Solana.

Currently, Marinade's annual protocol revenue exceeds $10 million, fully traceable on-chain with tangible income, but if you look at the market capitalization of $MNDE: it is only about $39.6 million, resulting in a P/S ratio of only 3.9 times, far below the industry average.

I checked the data of several other mainstream stake protocols, and the comparison is more striking:

You read that right, Marinade's income efficiency is the highest among its peers, yet its valuation is one of the lowest. This is not because the fundamentals are poor, but rather that the market has not priced it correctly yet.

So the team simply didn't wait for the market and directly took action to buy back.

Starting from September this year, Marinade will officially implement the MIP.11 + MIP.13 proposals:

☀Every month, 50% of the revenue from the agreement will be used to repurchase MNDE, with an expected annual buying scale of $5M+, which is equivalent to over 12% of the annual repurchase market value.
☀ At the same time, 5% of the total supply of MNDE will be burned, creating a sustained deflationary expectation.
☀ In addition, 25 million MNDE will be used to encourage governance participation and reward long-term holders.

You can understand it as: this is a disguised dividend + market value management mechanism, more like a "repurchase-type value stock" in the Web3 world.

This is not all.

Marinade has also been selected as the sole staking service provider for the first Solana ETF in the United States, and has partnered with BitGo to launch a compliant non-custodial staking service.

This means that $MNDE is not just a community coin; it already has the potential to become an "institutional allocation asset."

The fundamentals of "real income, continuous buybacks, and deflationary model" are already in place.

You don't have to rush to buy, but don't regret it after it rises and gets noticed by funds: truly valuable assets never wait for anyone.