Marinade MNDE

CheapRank#3▲10Score61

5.1× vs 15.5× for its peers: 3.1× cheaper than the median.

Staking Pool, Solana, 192 days of data

Active signals 2

Multiple below mediansince Oct 30
Multiple 5.1×, below the 15.5× median of Staking (4 tokens).
New in top 20held since Oct 30
Ranked #3 on Nov 11, up from #13 the day before.

Market cap

$11.9M

price $0.0217 · 7d −8.1% · 30d −18.5%

FDV $15.1M (1.3× market cap)

source defillama

Buyback revenue / year

$2.3M

holders revenue of the last 30 days, $193k, × 365 ÷ 30

Buybackbuyback share 50%

Buys back 20% of its market cap a year, using 50¢ of every $1 it earns.

Multiple

5.1×

peer median 15.5× (Staking, 4 tokens), against 5.1× here

Run-rate

5.8×

last 7 days $39k × 52 = $2.0M a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 5.1×, 3.1× cheaper than its Staking peers (median 15.5×, 4 tokens). The group's largest earner Lido trades at 18.6×: 3.7× cheaper per dollar returned to holders. On total revenue: 2.5×, 8.5× cheaper than the revenue peer median.
Distribution
Buyback: Revenue buys the token on the market; the tokens stay in circulation (treasury, stakers or LPs). Holders got $193k of $385k revenue in 30 days → buyback share 50%. DefiLlama: “50% of the revenue is used on MNDE Buybacks since 2025-09-05.”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 4% of the month's holders revenue; paid to holders this week: 71% of the best week in 90 days. Revenue −10% over 7 days and −13% over 30 days, price −18% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

No flags today: no active sell signal, and nothing in the data of this token needs a caveat.

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $193k / $385k; last 30 closed days
To holders: Buys back 20% of its market cap a year
FDV / dilution: $15.1M / 1.3×; FDV ÷ market cap
Price 7d / 30d: −8.1% / −18.5%
Revenue growth 7d / 30d: −10% / −13%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: $349k; DexScreener, representative pools
24h volume: $37k; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 2.5×; market cap ÷ revenue per year
Fee multiple: 0.3×; market cap ÷ fees per year
Distance to peak: 71%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 5.1× (scored) · peer median 15.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
October 31, 2026	Multiple below medianactive	$0.024	−7%	—	−9%	30-day check: day 11
October 30, 2026	New in top 20active	$0.024	−7%	—	−9%	not counted

Versus peers

Staking (merged group) · 4 tokens · median multiple 15.5× · Lido is valued 21.4× higher. Per dollar that counts for holders, Marinade is 3.7× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Marinadethis token	Buyback	5.1×	2.5×	50%	$193k	$11.9M	−13%
SSV Network	Mixed	12.4×	9.3×	100%	$275k	$31.1M	−10%
Lidoleader	Buyback	18.6×	6.2×	34%	$0	$255.2M	+6%
Kinetiq	Mixed	84.8×	37.3×	59%	$133k	$103.2M	−37%

Score build-up61 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

61of 100#3▲10top 4%

Valuation 32.4Momentum 10.5Divergence 0.0Quality 18.1= 61.0

Valuation35%

92Valuation 92.5: HR half 85.0 (multiple 5.08×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 8.46×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%

42Momentum 42.2: m = 0.5·g7 −0.107 + 0.3·(ln(day jump 0.91) clamped ±1.5 = −0.096) + 0.2·g30 −0.137 = −0.110; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

90Quality 90.3: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 4% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.71 → 70.9 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from

Revenue source: 3 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token3 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

Marinade Liquid Staking
Liquid Staking · Solana
type buyback · source text
“50% of the revenue is used on MNDE Buybacks since 2025-09-05.”
50% of the revenue is used on MNDE Buybacks since 2025-09-05.
adapter on GitHub ↗
Marinade Native
Staking Pool · Solana
type buyback · source text
“50% of the revenue is used on MNDE Buybacks since 2025-09-05.”
50% of the revenue is used on MNDE Buybacks since 2025-09-05.
adapter on GitHub ↗
Marinade Select
Staking Pool · Solana
type buyback · source text
“50% of the revenue is used on MNDE Buybacks since 2025-09-05.”
50% of the revenue is used on MNDE Buybacks since 2025-09-05.
adapter on GitHub ↗