What is the current price of Marlin?
The current price of Marlin is $0.001564 with a 5.42% change in the last 24 hours.
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Derivatives and mapped ecosystem data, with source timings and coverage.
Marlin is a verifiable computing protocol. It lets a developer hand a workload to a decentralized network of node operators and get back a result that can be checked cryptographically, without the operator being able to read the data or tamper with the execution. It does this using trusted execution environments, or TEEs, rather than zero-knowledge circuits.
POND is Marlin's ERC-20 token. It is used to pay for and stake against network capacity. A second token, MPond, is the governance and high-weight staking token, and the two are convertible at a fixed ratio.
The practical framing is that Marlin sells confidential compute the way a cloud provider sells virtual machines, except the operator set is open, payment is on-chain, and the machine can prove to a smart contract what code it is running.
Official sources:
Marlin was founded around 2019 by Siddhartha Dutta, Prateesh Goyal, and Roshan Raghupathy. The original problem was blockchain networking: block and transaction propagation between nodes was slow and unevenly distributed, and Marlin's early product was a relay network built to cut that latency. That work produced mev-bor, a client used on Polygon PoS.
The protocol later pivoted toward verifiable and confidential compute. The current flagship product, Oyster, is a TEE-based coprocessor network, and Kalypso is a permissionless marketplace for zero-knowledge proof generation that runs its own matching engine on Oyster.
A significant operational change came later: Marlin's tokens and much of its contract infrastructure migrated from Ethereum to Arbitrum, and the documentation states this plainly. Ethereum deployments remain, but Arbitrum is where current activity is designed to live.
Marlin's model has three moving parts:
Trusted execution environments do the work Oyster runs workloads inside hardware enclaves, with AWS Nitro Enclaves as the main supported environment. The enclave produces a signed attestation describing exactly what code image is running, and that attestation can be verified on-chain, so a contract can refuse to pay unless the right code produced the result.
Operators rent out capacity through an on-chain market Node operators register capacity and are matched to jobs by marketplace contracts, with developers paying per unit of time. Because the enclave isolates memory, the operator hosting the job cannot inspect the data inside it.
Staking backs operator behavior POND and MPond are staked against operators, and Marlin describes POND as restakable across both Oyster and Kalypso, so the same economic security can back more than one service.
POND is used for:
There are two tokens and the relationship between them is fixed rather than market-determined. A direct read of the contracts on September 11, 2026 confirms the arithmetic: the POND contract on Ethereum at 0x57B946008913B82E4dF85f501cbAeD910e58D26C reports a total supply of 10,000,000,000 tokens at 18 decimals, and the MPond contract at 0x1c77d15857646687005dbbafff5873f4495a9731 reports 10,000 tokens at 18 decimals. One MPond therefore corresponds to one million POND, and converting between them through the official bridge changes which token you hold, not how much of the network you own.
Both token contracts are upgradeable proxies following the EIP-1967 pattern, so the logic behind these addresses can be replaced by whoever controls the proxy admin. There is no protocol burn mechanism and no issuance beyond the fixed ten billion POND equivalent. Mirrored deployments exist on Arbitrum and BNB Chain and report the same nominal figure, so do not add balances across chains as if they were separate supply.
Be careful with third-party address lists for MPond specifically. Several widely copied listings point at an unrelated ERC-20 contract; the address above is the one Marlin's own contract documentation gives, and a name() call against it returns "Marlin" with symbol "MPond".
Akash Network sells general decentralized compute as a cloud marketplace but does not make confidentiality or attestation the core promise. Marlin's differentiator is what the operator cannot see.
Phala Network is the closest comparison, since it also builds on TEEs. The distinction is packaging and settlement: Phala grew out of a Substrate chain with its own worker model, while Marlin is deployed as contracts on existing EVM chains and now centers on Arbitrum. Oasis Network embeds confidential execution into its own Layer 1 runtime; Marlin is not a chain and does not ask you to move your application.
Against pure zero-knowledge coprocessors the trade-off is explicit. ZK gives cryptographic proof with no hardware trust assumption but is expensive and constrains what you can compute. TEEs are fast and general but require trusting the chip vendor's attestation chain.
Security comes from three layers. Hardware enclaves provide isolation and produce attestations. On-chain verification contracts check those attestations before results are accepted or payments released. Staked POND and MPond give operators something to lose.
The honest caveat is the trust model. TEE security depends on the silicon vendor's implementation and on the integrity of the attestation chain. Side-channel attacks against commercial enclave technology are a live research area, and a break at the hardware level cannot be patched by the protocol. This is a different security posture from cryptographic proofs, not a strictly stronger or weaker one.
Partly, and the pace has slowed. Checked on September 11, 2026: the Oyster monorepo, the project's main public codebase, had its most recent commits in early June 2026, covering dependency updates and indexer fixes. Other repositories under the Marlin organization saw pushes as recently as late July 2026, and public activity across the organization over the preceding weeks was minimal.
The documentation, blog, and site are current and the contracts are deployed and readable on-chain. The fair characterization is a maintained protocol with a quiet development cadence rather than an abandoned project or one shipping quickly. Check the repository directly rather than rely on this snapshot.
Confidential compute is becoming load-bearing infrastructure as on-chain applications take on AI inference, private order flow, and identity data. Marlin is one of the earlier attempts to make that capacity rentable, verifiable on-chain, and backed by stake rather than by a service agreement.
POND trades on centralized exchanges and on decentralized venues on Ethereum, Arbitrum, and BNB Chain. Availability and pairs vary by jurisdiction.
POND is commonly available on:
POND can be held:
Confirm the network before transferring. POND exists at different addresses on Ethereum, Arbitrum, and BNB Chain, and MPond is a separate token from POND despite the shared branding.
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Read the complete paper trading guideThe current price of Marlin is $0.001564 with a 5.42% change in the last 24 hours.
The daily trading volume is $54,773.16 representing a 84.11% change in the past 24 hours.
The market capitalization of Marlin is $12,869,274, ranking #626 globally.
The fully diluted valuation (FDV) of Marlin is $15,641,390, calculated assuming the maximum supply of 10,000,000,000 POND is in circulation.
Circulating: 8,227,704,524. Total: 10,000,000,000. Max: 10,000,000,000.
In the last 24 hours, Marlin traded between a low of $0.001538 and a high of $0.001654.
POND/USDTTether USDT0.001564 USDT
