Blockchain
Avana Wallet Announces In-App Solana Liquid Staking Powered by Marinade
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 broad allocation to over 400 medium- and small-sized validators helps further decentralize Solana and strengthen overall network security. Diversifying the pool of validators is a critical step in achieving the Solana bull case.”
“Integrating Marinade liquid staking directly into Avana Wallet makes it incredibly easy for Solana users to enjoy unlocked staking yields and access to Solana DeFi through mSOL,” said Michael Repetny, a Marinade contributor. “This integration also contributes to the long-term censorship resistance of Solana and supports the growing independent validator community. Thank you to Avana Wallet for supporting mSOL and the Solana ecosystem.”
Solana SOL Liquid Staking Powered by Marinade Using Avana Wallet
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Solana users staking with Marinade benefit from portfolio diversification and staking liquidity. Traditional staking on Solana requires users to wait up to three days to unlock staked SOL. Marinade’s mSOL can be unstaked or swapped for other Solana SPL tokens at any time using Avana Wallet.
In addition, a growing number of DeFi applications now accept mSOL as deposit collateral. Over 30 Solana DeFi protocols accept mSOL, including Mango Markets, Orca, Saber, Raydium, and more.
The Solana SOL staked with Marinade is distributed to more than 400 medium- and small-sized validators. These validators are chosen by Marinade’s transparent and permissionless formula that is automatically rebalanced at regular intervals. Marinade charges 2% of staking rewards as a fee, which is the lowest among liquid staking protocols. Avana Wallet does not charge a fee when its users stake with Marinade.
“Today liquid staking represents about 2% of Solana SOL staked. We are very optimistic on the growth potential of Solana liquid staking protocols in coming years. Marinade has helped simplify the liquid staking process by providing transparent and accessible on-chain solutions,” said Patrick McGlynn. “Users can achieve fast and easy staking portfolio diversification in a single transaction when they stake with Marinade.”
About Avana Wallet
Avana Wallet is a Solana blockchain non-custodial wallet that enables users to connect with Web3 decentralized applications (dapps), DeFi, NFT marketplaces, blockchain gaming and more. Avana Wallet users can send, swap, stake, and receive crypto using the Solana network. Most transactions processed on the Solana network clear in a matter of seconds for less than a penny. Avana Wallet is available in more than 30 languages. More information on Solana liquid staking. Download Avana Wallet for Chrome, Edge, Brave, and Firefox web browsers.
About Marinade
Marinade is built and governed by its community members through the Marinade DAO. The DAO is an on-chain system designed to provide transparency and fairness to the governance of Marinade. Marinade’s program currently has $259 million in total value locked allocated to 442 Solana validators.
Contact:
[email protected]
Avana Wallet
777 Brickell Ave
Miami, FL 33131
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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