Deck Staining, Painting, or?

I have a deck 3 years old, pressure treated wood with nothing on it currently. It is slivering into kids, and my feet, quite badly. I know solid stain and exterior deck paint don't last long. I looked at liquid rubber, and semco liquid membrane not sure how to feel on them. Oil based stains, but not sure if that will stop slivering of the deck.

What is your guys recommendation I care about the following features, with the most important to me at the top:

1. Stop the slivering (most important)

2. Not have to re-do the deck every year or two, it is like 2500sq ft, massive. (second most important)

3. I like the natural wood color e.g. a stain, but 1 and 2 above are more important. (would be nice to have an aesthetic I like, but prefer usability and less maintenance.