<h2><strong>What is Solana?</strong></h2><p>Solana is a PoS blockchain that uses a new, efficient consensus algorithm called “Proof-of-History” to achieve scalability and security. Solana’s vision is to enable decentralized applications to scale to millions of users. In contrast to other scaling solutions, Solana aims to scale censorship resistance and increase transaction throughput by an order of magnitude with highly-performant nodes that require a lot of storage and ultra-low latency. The token that powers the Solana network is SOL and it is exclusively used for trading, staking, delegating, paying transaction fees, and governance votes on the network. This tutorial will show you how to stake your SOL tokens on the Solana network.</p><h2><strong>Prerequisites</strong></h2><p><strong>Where to buy Solana</strong></p><p>You can get SOL tokens at a cryptocurrency exchange,&nbsp; at a DEX, or within select wallets. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on an exchange, but transfer them to your non-custodial or cold/hardware wallet after procuring them.</p><p><strong>Solana wallets</strong></p><p>Solana has a variety of non-custodial wallets for you to choose from. We recommend that you use a hardware wallet such as Ledger. Compatible wallets include:</p><ul><li><a href="https://onelink.to/exodus-stakingreward">Exodus Wallet</a></li><li><a href="https://www.ledger.com/coin/wallet/solana">Ledger Hardware Wallet</a></li><li><a href="https://chrome.google.com/webstore/detail/solflare-wallet/bhhhlbepdkbapadjdnnojkbgioiodbic">Solfare Wallet</a></li><li><a href="https://chrome.google.com/webstore/detail/phantom/bfnaelmomeimhlpmgjnjophhpkkoljpa?hl=en">Phantom Wallet</a></li><li><a href="https://atomicwallet.io/">Atomic Wallet</a></li><li><a href="https://mathwallet.org/en-us/">MathWallet</a></li></ul><p><strong>How to connect Solana (SOL) to Solflare Wallet</strong></p><p>When setting up your Solflare wallet, it will automatically create a Solana account for you. In this tutorial, we will use the Solflare<a href="https://chrome.google.com/webstore/detail/solflare-wallet/bhhhlbepdkbapadjdnnojkbgioiodbic"> browser extension</a> as an example.</p><p><img src="https://lh3.googleusercontent.com/LyOH_93eolwjuiryyiHkR5vd5ds6ZQt5gLDUrb5qM9n8bYS3pTB-Sp0wqv8lb14o0JJaKmoTxCxEIJtWl_ZrSolcwZV5RwH8ReJN3fVijWrJMQb0ph4feHfw2Q_FzbAASKpwSQualwCvRk4BRwQPeRA" alt=""></p><h2><strong>Selecting Solana validators</strong></h2><p>Please refer to the FAQ section titled ‘How do I choose Solana validators’ on this <a href="https://www.stakingrewards.com/earn/solana/">page</a> when selecting Solana validators. Also, you may want to utilize our criteria for verifying providers through <a href="https://docs.stakingrewards.com/verified-provider-program/">Staking Rewards Verified Staking (VSP) Provider Program</a>.</p><h2><strong>How Staking Rewards for Solana (SOL) are Generated</strong></h2><p>Learn how rewards are generated in the FAQ section titled ‘How are the rewards generated’’ <a href="https://www.stakingrewards.com/earn/solana/">here</a>.</p><h2><strong>How to stake Solana (SOL)</strong></h2><h3><strong>Step 1: Make sure you have a Solana wallet</strong></h3><p>Stake your SOL tokens using Ledger, Solflare Wallet, Phantom Wallet amongst others. We will use Solflare Wallet in this staking tutorial.</p><p>As a popular wallet in the Solana ecosystem, Solflare allows you to stake tokens, access blockchain apps, and manage multiple tokens in one convenient place. Simply connect your Ledger to Solflare wallet or use Solflare wallet directly to stake SOL. Install the <a href="https://chrome.google.com/webstore/detail/solflare-wallet/bhhhlbepdkbapadjdnnojkbgioiodbic">Solflare browser extension</a> or download the Solflare wallet <a href="https://solflare.com/">here</a> and enter your wallet. Deposit your tokens into this wallet before continuing onto step 2.&nbsp;</p><p><img src="https://lh5.googleusercontent.com/Fx9ZS8jF_MNSZ0xiOpdBi4Qgu_Fj08t0f2c220_DxZYlqP4PTsUENkEjUbcSykmqSmSo6edquroaXB7fBTDVtz7cSXC0N-PAUmGaju6zUpQCaAw0S5EqKTm7A7KSrzSar3aAsVPmrjjzxICJCc7A098" alt=""></p><h3><strong>Step 2: Go to the Solana staking portal and choose a validator</strong></h3><p>After entering your wallet, start staking and select validators. We recommend choosing validators that are verified via the Verified Staking Provider (VSP) Program. You will find the verified validators with a blue tick next to it on the <a href="https://www.stakingrewards.com/earn/solana/">Solana profile page</a>.&nbsp;</p><p><img src="https://lh6.googleusercontent.com/CVUhy_ltqz4Y_Po2kI74uZbquqZi8v3uLxSCWp6MAC8GdKmxEH02ghl637yzRRPE_hy-48ZrVgpEz6oW3Ff8Bx7b7Q-0cOQHfDeHL_kPMwmVYL4GN_x5Jl01spMrQ_4ytyI--mBz-UCPCSFItJ3gzFI" alt="" width="516" height="520"></p><p>If you are unsure of how to choose a validator, please see the FAQ section named ‘Selecting Solana validators’ above to help you decide.&nbsp;</p><ul><li>Click the ‘ <strong>START STAKING</strong>’ tab and then the ‘Native SOL Staking’ tab</li><li>Click ‘<strong>CREATE ACCOUNT</strong>’</li><li>If you are unsure of how to choose a validator, go to <a href="https://www.stakingrewards.com/earn/solana/">Solana profile page</a> and select a validator that has a blue tick next to it, copy the delegation address</li><li>Come back to the staking portal, paste the validator’s delegation address in the drop-down menu</li></ul><p><img src="https://lh3.googleusercontent.com/o21vcjS44Qu2KlJcNdr3x0prWne6YUqX4NIlV4W4ZyviM2cvVXI7jR3nREcls-5jjSzzQoW_5vsL8pJgWuF5npK_o8B4VWy9wvdRN6az8FwbbH5kTYwEntW_mvlG3xDw8B1kmQXKsDFnCH06fn3hAPs" alt=""></p><p>Make sure you do NOT stake your full available balance. You MUST leave some room for gas fees, which will vary depending on the network activity on Solana.</p><h3><strong>Step 3: Finalize the transaction&nbsp;</strong></h3><ul><li>Enter the amount of SOL tokens you would like to stake</li><li>Click ‘<strong>STAKE</strong>’&nbsp;</li><li>Press ‘<strong>CONFIRM</strong>’ and approve the transaction in your wallet</li></ul><p><img src="https://lh3.googleusercontent.com/lgo9IQHhyWSyEfqytBGfiQe96Uuet7lbc141NC-Y4xhnzK3yHAEvVlL4bXNV44Tuj8UoVF5KIKxgKRImQQT-mWE1ENs7p66emfl8CVaKTQ3TlZAM2bfH003upmICPJ9DqUQd7HsUt-VxSmcaTWrtzn0" alt=""></p><p>Congratulations! You have now staked your SOL tokens and will start earning those juicy staking rewards.&nbsp;</p><h3><strong>Step 4: Track staking portfolio</strong></h3><ul><li>Track your SOL staking rewards on the <a href="https://chrome.google.com/webstore/detail/solflare-wallet/bhhhlbepdkbapadjdnnojkbgioiodbic">staking dashboard</a></li><li>Monitor governance proposals on Solana network that may impact the staking mechanism</li><li>Track the current and historical reward rates, validator count, number of unique Solana staking wallets, and staking ratio of the Solana network by visiting the <a href="https://www.stakingrewards.com/earn/solana/">Solana asset page</a>. To make better staking decisions, it’s essential to understand these relevant data points. To learn how these data points could impact your staking rewards, please read more in the FAQ sections named “How do I choose Solana validators” and “How are the rewards generated” on the <a href="https://www.stakingrewards.com/earn/solana/">Solana asset page</a>.</li></ul><p><img src="https://lh4.googleusercontent.com/K0-MuFdz01EStn25iHCnzRW_8QTU-598FRDZU7rCm7tG9tAG5SOlqkY_JXR_c-TmMgWLlUUctkUwYftKvrnhmGFo3l_DTXxBAk3gdSKB2cgfM7KyLcB_0a1gYaINODky_NT4xpHXsNra_RMbSEmTXGU" alt=""></p><h3><strong>Step 5: How to Unstake SOL</strong></h3><p>To unstake your SOL tokens, follow the steps below:&nbsp;</p><ul><li>On your staking dashboard, lick on the validator that you’ve staked to</li><li>Click on “<strong>UNDELEGATE</strong>”</li><li>Click on “<strong>CONFIRM</strong>” and finalize the transaction in your wallet</li></ul><p><img src="https://lh6.googleusercontent.com/Jfeo98aED6iZ8AViupjTl-MSMIDcS_GpUbHk-y2rq-gr3xY2AbhgMzHg21prHBYArV1pI7wAEjXPeLv7g-V5XJo9poAf7DsH-6NmlDf-_u7u70hywPLFXT00IooLTQsqVO7AhJ015-Y4UOxnBydm7yI" alt=""></p><h2><strong>Maximizing Staked SOL</strong></h2><p>Solana staking rewards are auto-compounded. You will receive rewards every 2-3 days that will automatically be added to and compounded with your staked amount. Now that you have staked your SOL, you have 3 options which can be used to change your position. These options appear on the <a href="https://chrome.google.com/webstore/detail/solflare-wallet/bhhhlbepdkbapadjdnnojkbgioiodbic">Solfare staking dashboard</a>. The options are:</p><ul><li>Stake more</li><li>Upgrade your stake to liquid staking</li><li>Unstake and claim rewards</li></ul><h3><strong>Stake more&nbsp;</strong></h3><p>You can add to your current delegation by clicking on the validators name and staking more SOL with them.</p><h3><strong>Upgrade your stake to liquid staking</strong></h3><p>By upgrading your current stake to mSOL staking, you get to unstake instantly with mSOL (a liquid staking derivative token for SOL) and use it to earn potential DeFi yields.&nbsp;</p><ul><li>On your staking dashboard, click on “<strong>Liquid SOL Staking</strong>”.&nbsp;</li><li>Then you will see a “<strong>UPGRADE</strong>” button on the right-hand side of your staked validator information, click on it.&nbsp;</li><li>Finally, press “<strong>CONFIRM</strong>” to finalize the transaction in your wallet.</li></ul><h3><strong>Unstake and claim reward</strong></h3><p>The amount of accrued rewards will be available and shown in your dashboard. To receive your staking reward, you need to undelegate your stake by clicking on the “UNDELEGATE” button on the right-hand side of the staked validator.</p><h2>Where to store SOL?</h2><p>Looking for a crypto wallet? <a href="https://onelink.to/exodus-stakingreward">Exodus Wallet</a> has an intuitive interface, a built-in exchange feature and supports over 200+ assets. Manage your cryptocurrency portfolio securely and with ease using Exodus Wallet! Visit their website to <a href="https://onelink.to/exodus-stakingreward">learn more and download today</a>.</p><h2><strong>Conclusion</strong></h2><p>Staking is essential to Proof-of-Stake blockchains and comes with many benefits for investors and the network:</p><ul><li>Investors earn yield from token emissions and/or transaction fees.</li><li>Stakers become eligible for airdrops as many networks prioritize granting these benefits to them.</li><li>Staking helps to secure the network</li><li>Staking from multiple participants helps decentralize the network</li><li>Stakers can participate in governance, as many PoS networks allocate governance rights based on the amount of tokens staked.</li></ul><p>Congratulations! You are now not only getting the most out of your investment with compounded returns. YOU are also (in-)directly contributing to the decentralization, and the network security of Solana and thus contributing to the long-term success of your investment! Solana needs active stakers like you to become successful long-term.&nbsp;</p><p>Now share the tutorial with your friends so they can get to start staking as well!</p><p>Lastly, don’t forget to check out the <a href="https://www.stakingrewards.com/earn/solana/">Solana asset page</a> for more insights into staking SOL, and drop us a <a href="mailto:content@stakingrewards.com">message</a> if you found this tutorial useful. Happy staking!</p>

How to Stake Solana (SOL)

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