[INVESTMENT] MNDE NFT Governance

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.

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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.