mSOL/USD price feed
mSOL is Marinade's liquid staking token on Solana: SOL staked across a broad validator set, represented by a token that keeps trading while the stake keeps earning. Its on-chain market has always been compact; whatever venues it sustains in a given week are read together into one dollar rate.
Aggregate on-chain rate: hourly view of the last 4 weeks. The API itself updates block by block. Request API access
Book composition · auto-observed
This book is shared at the moment: the leading pool holds the largest slice, but nowhere near half.
Marinade's token, briefly
Marinade was among the earliest liquid staking protocols on Solana, built around a specific idea: spread deposited SOL across a wide set of validators rather than concentrating it. mSOL is the receipt. Hold it while the underlying stake earns; swap it back whenever the market or the protocol will take it.
Like several staking tokens, mSOL accrues value rather than paying out, so its SOL ratio climbs slowly over time. The dollar price on this page therefore moves for two reasons at once: SOL's own dollar market doing most of the work, the ratio adding its slow grind on top.
That makes the pair simple to reason about on calm days. The interesting part of mSOL's story is what happens on the days that are not calm, which is when a market rate matters most.
One token, several quote languages
What mSOL's market lacks in size it has made up in variety: its pools have quoted the token in several different units at once, from SOL to dollars outright to fellow staking tokens. Each unit is its own kind of reading, resolved to dollars through its own measured market before the aggregate forms.
The direct dollar legs are worth pausing on. Most Solana staking tokens trade mainly against SOL; a token that also sustains a stablecoin market of its own gains a leg that never touches SOL at all, a separate reading that is useful precisely because it is independent. Whether mSOL's book carries that leg in a given week is the composition's report to make.
The venues split the work along their own lines, with Solana's exchange families each carrying part of the book. More than one venue design, more than one quote unit: a market with several ways of telling the same price.
The December gap
On 12 December 2023 a single holder swapped a seven-figure block of mSOL for SOL. Within half an hour the market price sat well below the staking ratio; it took more than an hour for arbitrage to carry it back. Nothing about the stake itself changed that day; the market simply had to digest more size than the book could absorb at once.
The episode is the clearest illustration of how liquid staking tokens behave under pressure. The redemption path through the protocol is a floor, but a slow one, measured in epochs; the pools are the fast truth. Anything marked or liquidated during those hours happened at the traded price, not at the ratio.
On quiet days that record is boring. It is kept for the loud ones.
Who runs on this rate
Solana lending books
mSOL sits as collateral across Solana credit markets; liquidation logic keyed to the traded rate reflects what the pools will actually pay.
LST basket plus index products
Products spanning several staking tokens get mSOL priced by the same method as every sibling page in this catalog.
Solana treasuries
Treasuries holding staked SOL report in dollars; the composition behind this rate is public, so the mark comes with its own audit trail.
Where the mSOL market lives
Active mSOL/USD pools per chain, as observed by the feed on 2026-10-27.
mSOL in the catalog
6 pairs, each computed from its own pools with the same methodology:
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