Reference: Please note that some screenshots and text referenced below is taken from this helpful tutorial published by Staking Facilities.

      Everything you need to know about staking SOL.

      You can stake SOL by moving your tokens into a wallet that supports staking. The wallet provides steps to create a stake account and do the delegation.

      Before you Stake make sure to check out the Staking Rewards Asset Profile Page for Solana to help bet a better understanding of this choice.

      By staking your SOL tokens, you help secure the network and earn rewards while doing so.

      There are three phases of Solana Staking that a user should be aware of:

      • Warm-up period: which SOL is deposited and inaccessible to the node, however PoH transaction validation has not begun. Most likely on the order of days to weeks
      • Validation period: a minimum duration for which the deposited SOL will be inaccessible, at risk of slashing and earning rewards for the validator participation. Likely duration of months to a year.
      • Cool-down period: a duration of time following the submission of a’withdrawal’ transaction. During this period validation responsibilities have been removed and the funds continue to be inaccessible. Accumulated rewards should be delivered at the end of this period, along with the return of the initial deposit.

      What is SOL Staking?

      You can stake by delegating your tokens to validators who process transactions and run the network.

      Delegating stake is a shared-risk shared-reward financial model that may provide returns to holders of tokens delegated for a long period. This is achieved by aligning the financial incentives of the token-holders (delegators) and the validators to whom they delegate.

      The more stake delegated to a validator, the more often this validator is chosen to write new transactions to the ledger. The more transactions the validator writes, the more rewards the validator and its delegators earn. Validators who configure their systems to be able to process more transactions earn proportionally more rewards and because they keep the network running as fast and as smoothly as possible.

      Prerequisites

      For starters, you need to own some SOL. You can buy these from a variety of centralized exchanges.

      Secondly, you should download or work with a supported Wallet from the below list, we recommend using SolFlare.com as we will use this for our tutorial.

      Supported Wallets

      Staking operations are supported by the following wallet solutions:

      • SolFlare.com in conjunction with a keystore file or a Ledger Nano.
      • Solana command line tools can perform all stake operations in conjunction with a CLI-generated keypair file wallet, a paper wallet, or with a connected Ledger Nano.
      • Exodus wallet. They make the process very simple, but you cannot choose a validator: they assign you to their partner validator.
      • Binance and FTX exchanges. Note that you cannot choose a validator with these services: they assign you to their partner validator.

      How to Stake SOL

      Step 1

      First, go to SolFlare.com and create a new wallet using a keystore file or a ledger nano s or access your existing Solana wallet.

      Solflare is a non-custodial wallet created by Dokia Capital, a fellow validator on the Solana network. It was the first wallet that enabled token-holders to send, receive, and stake $SOL without having to touch a single line of code.

      Now that you have you wallet deposit some SOL in the address provided – always make sure to save your keystore file in a safe place as this is how you will access the wallet.

      Step 2

      After you successfully funded your Wallet Account, it is time to create a Stake Account.

      Now it is important to note that you as a token-holder have the power to increase the overall security and hence the overall value of the network. This can be achieved through enhancing decentralization by delegating to more than one validator. For you to do this successfully, you need to create more than one Stake Account. Split the funds in your Wallet Account across different Stake Accounts.

      Make sure to leave some $SOL in your Wallet Account in order to pay for transaction fees. Since these are very low in Solana, leaving ~ 1 SOL in your Wallet Account should be more than enough.

      Visit the “Staking” tab in the top menu and click “Create Account”. Choose the amount you want to transfer from your Wallet Account to your Stake Account in the pop-up menu and click “Next”. Confirm the transaction on your wallet. Repeat this process for every Stake Account you want to create.

      You will find all of your Stake Accounts displayed in the Staking menu on SolFlare and are now ready to stake!

      Step 3

      Next we want to Delegate our Stake.

      In the “Staking” tab (top menu) on SolFlare, click “Delegate Now” next to the respective Stake Account, select the validator of your choice in the drop-down menu and then click “Next”. Read through the information and confirm the transaction.

      Repeat this process for every one of your Stake Accounts — just make sure to delegate to a different validator each time if you want to contribute to decentralization.

      For a Full List of Solana Validators Visit the Staking Rewards Solana Profile.

      Once the transaction confirms, you are now a delegator on the Solana blockchain, congratulations!

      Please note that your delegated SOL will start earning rewards once the Warmup Period has concluded (~2–3 days). Until this is the case, you will see your Stake Account as “activating”.

      You can find your Stake Accounts with the validators they are delegating to under the “Staking” tab on SolFlare. You can always access your Wallet Account and the corresponding Stake Accounts by clicking “Access” on the SolFlare homepage.

      Step 4

      First, go to SolFlare.com and create a new wallet using a keystore file or a ledger nano s or access your existing Solana wallet.

      Solflare is a non-custodial wallet created by Dokia Capital, a fellow validator on the Solana network. It was the first wallet that enabled token-holders to send, receive, and stake $SOL without having to touch a single line of code.

      Conclusion

      The process for Staking SOL is extremely easy to understand for anyone use to selection validators to delegate their stake. Staking rewards automatically accrue on your Stake Account at the beginning of each subsequent epoch and are automatically re-delegated so you get the benefit of a compounding effect automatically. It is straightforward to monitor and mange your staking rewards by visiting the ‘Staking’ menu and clicking on your Stake Account. In the pop-up window, choose the ‘Rewards’ tab to see your rewards per epoch. The extremely low fees on Solana combined with the blazing fast confirmation times make this process thoroughly enjoyable. It is important to be aware of any warm-up and cool-down lock up times as well as the possibilities of slashing when staking Solana. For more information on Solana and to calculate your Staking Rewards visit the Solana Asset Profile!

      About The Author

      Kenneth Garofalo

      is the Research Analyst and Listing Manager at Staking Rewards. Professional background in Financial Services, Public Relations, and Marketing for the blockchain and cryptocurrency industry.

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