We are thrilled to announce Drift has added mSOL onto the platform bringing with it new opportunities. Drift listed mSOL as a spot market offering which in turn allows users to use mSOL as collateral.
Introduction to mSOL
mSOL by Marinade Protocol is the largest liquid staking service on Solana with over $100m in TVL. When users stake their SOL, they receive a liquid derivative of their staked token in the form of mSOL in return, allowing them to participate in DeFi across Solana while earning staking rewards.
Trade mSOL/USDC: app.drift.trade/mSOL
mSOL on Drift
- New spot listing: mSOL/USDC
- Use mSOL as collateral on Drift
Collateral Weight: .8
The mSOL/USDC spot pair is now available to trade on Drift.
The addition of mSOL as a collateral asset expands the range of cross-margined assets available on Drift. Drift v2 has a per account cross-margined system and deposited collateral can be used to increase margin. All mSOL deposits will also automatically earn passive yield via deposits.