# Ketju research: Marinade Native

- URL: https://riadefi.com/rejections/marinade-native/
- Verdict: rejected
- Type: Staking
- Reviewed: 2026-08-19
- Last confirmed: 2026-08-19

## Research summary

This review reaches the same adverse assessment for Marinade Native that this registry already reached for mSOL because both use the same validator-selection process. Marinade Native is not a liquid staking token and issues no token at all. A client’s SOL always stays in an ordinary native stake account under the client’s own wallet withdraw authority. Marinade can only choose the validators that receive the delegated stake. That non-custodial structure is a real improvement over a pooled-contract liquid staking token, and this review credits it. But Native delegates through the same Stake Auction Marketplace that this registry’s existing mSOL memo found insufficient. It is a yield-ranked validator auction that previously gave delegation to a validator running sandwich attacks, the episode that led Marinade to issue its own MIP-9 governance response. A non-tokenized product that uses the same allocation process does not fix that finding. Separately, no source states whether anyone has admin or pause power over the delegation program itself or, if so, who holds that power.

## Observable review triggers

- The SAM validator-selection process demonstrates sustained exclusion of low-quality or MEV-abusive validators, resolving the finding already documented in the mSOL entry
- Admin or pause authority over the Native delegation program is disclosed, including who holds it
- This entry is reopened only once the linked mSOL entry's own reopen conditions are also met, since both share the same allocation mechanism

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Published by Ketju Research (https://ketjuresearch.com). Educational analysis only; not legal, tax, compliance, or investment advice.
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