Summary
Ketju does not approve Marinade Native: it picks validators through the same Stake Auction Marketplace that kept mSOL off the approved list. Marinade Native issues no token. A client’s SOL stays in an ordinary native stake account, and the client’s own wallet keeps withdraw authority. Marinade can only choose which validators receive the stake. Marinade never holds the client’s SOL, a real improvement over a pooled liquid staking token, and we credit it. The auction ranks validators by yield, and it once gave stake to a validator running sandwich attacks. That episode led Marinade to issue its MIP-9 governance response. Removing the token does not change how validators are chosen, so the finding stands. No source says whether anyone has admin or pause power over the delegation program, or who would hold it.
Review triggers
- The SAM validator-selection process shows it keeps low-quality or MEV-abusive validators out over a sustained period, resolving the finding already documented in the mSOL memo
- Admin or pause authority over the Native delegation program is disclosed, including who holds it
- Ketju will review this memo again only once the conditions in the mSOL memo are also met, since both share the same allocation process
Facts
- Verdict
- Not approved
- Type
- Staking
- Chains examined
- Solana
- Reviewed
- Last confirmed