Marinade Q3 Report:SOL staking volume rose to 7940000 tokens, and DAO the malicious proposals were rejected

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Marinade Q3 Report:SOL quarter-on-quarter growth in staking volume 21.2%to 7940000 tokens, with revenue of approximately 1000000 USD According to BlockBeats,October 23，Solana staking protocol Marinade released its 2026 third-quarter report. As of September 30, its SOL staking volume was 7940000 tokens, up 21.2%quarter-on-quarter, driven mainly by the non-custodial native staking product Native and the institution-focused Select. Among them, Native staking volume grew 47.3%to approximately 3770000 quarter-on-quarter, while Select grew 38.7%to approximately 1680000 and mSOL declined 6.8%to approximately 2270000 tokens.

Third-quarter revenue was approximately 1000000 USD（10,918 tokens SOL), up 25.9%quarter-on-quarter, mainly because validator bond settlement revenue increased 38.1%. In addition, the staking auction marketplace (SAM) had 51 epoch of 48 auctions with yields higher than the Solana staking index (SSI), with an average yield before deducting Marinade fees of 5.93%, compared with 5.67%for the index during the same period.

In terms of governance, after MIP-22 took effect on July,Marinade will use 10%of auction fees to buy back MNDE on the open market. During the third quarter, it used 906.6 tokens of SOL to buy back 4200000 tokens of MNDE, with the first allocation opening on October 1. The report also disclosed that September 25 an attacker exploited a vulnerability in the DAO voting procedure to submit two malicious proposals, one involving the transfer of DAO treasury assets. The council rejected both proposals within approximately 6 hours, completed the fix that evening, and no funds were transferred.

Original link https://m.theblockbeats.info/flash/373397

Key points

Marinade released 2026 year third-quarter report.
As of September 30，SOL staking volume was 7940000 tokens, up quarter-on-quarter 21.2%。
Third-quarter revenue was approximately 1000000 USD, or 10,918 tokens SOL, up quarter-on-quarter 25.9%。
Native staking volume grew quarter-on-quarter by 47.3%to approximately 3770000 tokens, Select grew quarter-on-quarter by 38.7%to approximately 1680000 tokens, and mSOL declined quarter-on-quarter by 6.8%to approximately 2270000 tokens.
In the staking auction marketplace that quarter, 51 auctions epoch had 48 yields higher than the Solana staking index, with an average yield before deducting Marinade fees of 5.93%, compared with 5.67%。
MIP-22 after it took effect,Marinade will use 10%of auction fees to buy back MNDE; during the third quarter, it used 906.6 tokens to SOL buy back 4200000 tokens MNDE。
September 25, an attacker exploited a vulnerability in the DAO voting procedure to submit two malicious proposals, one involving the transfer of DAO treasury assets; both proposals were rejected within approximately 6 hours, the issue was fixed that evening, and no funds were transferred.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This is a quarterly disclosure concerning Marinade business and governance. The report shows that its SOL staking volume, revenue, and the scale of some products increased, while mSOL volume declined; it also disclosed an incident involving a DAO voting procedure vulnerability that did not result in any funds being transferred.

Why it matters to readers

Changes in staking volume and revenue can reflect Marinade business performance;MNDE buybacks involve token utility mechanisms; governance vulnerabilities concern the security of DAO treasury assets.

Beginners may wish to focus on three points: whether staking volume continues to grow, whether revenue changes in tandem, and whether the governance vulnerability fix receives subsequent confirmation.

Risks and unknowns

The supplied material comes from a BlockBeats report and does not include the Marinade original quarterly report link.
The material does not state whether the DAO voting procedure fix underwent an audit or other governance confirmation.
A single quarter of data is insufficient to determine whether staking volume and revenue can continue to grow.

Marinade Q3 Report:SOL staking volume rose to 7940000 tokens, and DAO the malicious proposals were rejected

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