Hello all,
recently Marinade Finance has announced they are transitioning to a NFT governance model.
We already own 5000+ MNDE tokens acquired via yield farming, which is enough to mint a Level 2 Marinade NFT. Minting the NFT requires locking the MNDE tokens we already own, it does not cost additional SOL.
As a DAO we should support other DAOs and Marinade is currently the first liquid staking provider by TVL in Solana.
Let’s get the ball rolling.
Do you really believe that there is benefit in taking part of the governance? What does it bring us? Would we maybe be able to attract new users/interest? Is it really better than just holding MDNE tokens?
We currently own less than 1’000$ of MNDE tokens obtained via yield farming, minting the NFT would lock those tokens for at least 30 days.
The MNDE tokens are useless from a governance point of view unless they are “locked” in the NFT. Also MNDE suffers the problem of all the others governance tokens, eg no link to revenues/treasury of the protocol.
I currently do not foresee much financial upside here given the small size, we should think more in terms of goodwill generated and brand awareness.