How to stake Solana (SOL)?

P2P Validator -

Table of Contents

What is Solana (SOL) Staking?

When staking Solana (SOL) you are supporting the network with the additional benefit of compounding your SOL!

Staking SOL is the process of holding SOL "stake" to partake and support the operations in the Solana network to receive rewards. In order to be a "Validator" and participate in these operations, one is required to maintain a server running continuously, technological knowhow, experience, and have a significant self-bond (surety bond).
This is where P2P Validator comes in, we allow SOL token holders to forget about all the heavy lifting i.e maintenance, surety bonds etc. by "delegating" their holdings to P2P to receive these rewards. We accumulate users' stake and act as a major validation node, receiving and allocating staking rewards between our users pro rata to the delegation.

Users that chose to stake with P2P maintain full custody of their SOL at all times and P2P will never have access to them.

Why Stake Solana (SOL) with P2P?

P2P is a leading Solana validator with more than 4 million in staked SOL, the highest network reliability & low staking fees. We monitor and maintain Solana nodes to ensure maximum efficiency for SOL stakers.

As we are SOL seed investors, it is very important to define the best means of network management and development. Our technical team has been involved in all of the Tour de Sol dry runs with the highest efficiency and has participated in all of TdS and SLP. We are a major player in all networks we support because of our experience, commitments and our reputation. We pay special attention to the process of governance. Our aim is to provide a secure and reliable service at the lowest cost maximising rewards for our delegators.

So why stake SOL with P2P?

  • High performance: low skip rate, high uptime
  • Own Skin in the game with 2M+ SOL
  • Secure, non-custodial staking
  • Solana seed investors and contributors.
  • Experienced DevOps’s team (Working with Solana from 2019)
  • Ecosystem contributors (Solana Wormhole Hackaton winners)
  • 24/7 monitoring of machine and protocol metrics

P2P Validator provides additional benefits for Stakers with more than 100k SOL, making it the best place for large investors. Get in touch with us here to learn more about how we can address your staking needs.

Solana (SOL) Staking Rewards & Fees

You will be earning an estimated 7% APR when staking Solana (SOL) with P2P.

In order to run the staking infrastructure, we charge a 7% fee on your rewards. The rewards after taking the fee into consideration will therefore be 6.51%.

Example:

I delegate 1000 SOL to P2P

Reward: 10007% = 70 SOL
Fee = 707% = 4.9 SOL

Estimated balance after 1 year = 1000+70-4.9 = 1065.1 SOL

Please keep in mind that the APR specified is approximate and changes along with network conditions.

Solana (SOL) Warm-up & Reward Distribution Frequency

One epoch in the SOL network lasts approximately 2-3 days.

You will start earning rewards once your delegation goes from activating to effective, which takes one full epoch. You will then receive your rewards in the following epoch.

Lets assume you select to delegate your SOL in epoch E1:

E1: Your SOL is activating (up to approx. 2-3 days)
E2: Your SOL is effective (approx. 2-3 days)
E3: Receive your rewards for epoch E2

Once your SOL stake is active, you will receive rewards every epoch. Rewards will automatically be added and compounded to your staked balance.

Solana (SOL) Undelegation Period

One epoch in the SOL network lasts around 2-3 days.

It takes one full epoch to deactivate your SOL delegation - once finished you will be able to withdraw it. This will include your original stake and any rewards you earned.

Lets assume you select to undelegate your SOL in epoch E1:

E1: Will start deactivating your Stake.
E2: Stake is undelegated and is available to withdaw.

Partially Delegating and Undelegating Solana (SOL) with Solflare

Main Authority and Staking accounts

In Solflare you have a main authority address where you can transfer SOL to and from your staking account(s).

Main authority account can be found on your "Portfolio page".

You cannot transfer SOL directly from one staking account to another without first going through your main authority address. Staking accounts are used in order to delegate your SOL to validators.

Staking accounts can be found on your "Staking page". In the image below you can see that I have created three staking accounts. Two are activating (meaning my delegation transaction has been confirmed buy my stake is in the warming up period), and one is inactive (not staking).

Only the full amount in a staking account can be delegated or undelegated. IE within one staking account, you will not be able to input a specific amount to partially delegate or undelegate. Furthermore, delegating and undelegating have warm-up and cool-down periods respectively. For these two reasons, it is important to understand the options available to partially undelegate your SOL with staking accounts to avoid waiting.

For example if you have 100 SOL being delegated in a staking account and you want to undelegate and withdraw 50 SOL, it would be a waste of time to undelegate 100 SOL and wait for the cool down, withdraw 50 SOL out of your account, and then delegate 50 SOL again and wait for the warm-up. During the warm-up period you will not be earning rewards.

Fortunately, Solflare has created the option to split a staking account, which provides a solution to partially delegate or undelegate your SOL without wasting time and rewards.

Splitting accounts

You can only delegate or undelegate the full amount - as opposed to a partial amount - in a staking account. To delegate or undelegate a partial amount you have the option to "split" your staking account. This will take a staking account and it will split it into two seperate ones, with the new account being transferred the split amount of SOL. Both accounts will keep the same status as it had before (delegating, activating, or inactive).

  1. To find the split function, first select your account and then "SPLIT".

  1. Input the amount that you would like to move out of your staking account into the new one.

  1. Confirm the transaction.

  2. Once your new staking account has been created with the split amount, you can undelegate or delegate the SOL there.

You will then have to wait the cooldown period before your funds are available to withdraw.

How to Track my Solana (SOL) Staking Rewards

To track your rewards you can use the Solana beach explorer. This explorer allows you to track any transactions made on any address on the Solana blockchain.

Note that some wallets, like Solflare, have a table of your staking rewards integrated in their wallet already (more info here). However, this guide will allow anyone to be able to track their SOL rewards regardless of which wallet provider they use and which validator they selected to stake with.

Track your rewards

First you will need to find your staking accounts address to input into the Solana beach explorer. It will be a series of 44 characters and numbers.

Once you have searched for your staking accounts address, scroll down and select "Stake Rewards". Here you will be provided a table with your rewards for each epoch.

That's it! Remember that if you have any questions along the way or would like to share some feedback, please dont hesitate to contact us as we will be more than happy to help.

Monitoring Solana (SOL) Staking Rewards Using Solflare Wallet

You can track the staking rewards on your Solflare staking account. In order to do so, simply go to the staking page on Solflare and select the staking account address you are interested in.

Details will appear, showing your reward payouts for each epoch that you were actively delegating.

For all past epochs, you will be able to view:

  • Epoch
  • Amount of rewards earned
  • Balance update
  • APR
  • Commission charged
  • Date the reward was received

How Do I Claim Solana (SOL) Staking Rewards?

One epoch in Solana lasts approximately 2-3 days.

With your effective staked SOL, you will receive rewards every 2-3 days and it will automatically be added and compounded to your staked amount.

If you want to withdraw your rewards, you will have to first undelegate your stake.

Solana Liquid staking

The pillar of P2P's core principals has since the beginning been decentralization. We believe that cryptocurrencies and the whole emerging industry surrounding it was built upon this.

We believe in the benefits and the work being done on liquid staking solutions for this emerging industry and this is why we are proud to be not only one of the validators for LIDO's liquid Solana staking but also in charge of it's development.

Liquid staking is a great way to build and develop new opportunities for the cryptocurrency industry to grow on both the staking and DeFI sectors.

Solflare + Ledger Solana (SOL) Staking Guide

Solflare Solana (SOL) Staking Guide

Before starting you will have to own some SOL - you can purchase it on multiple cryptocurrency exchanges.

Create Solflare wallet

  1. To create a wallet select "Access" on the Solflare page.

  1. Then select "Create a new wallet".

  1. Create a password that you will use to enter your wallet and to submit transactions. Select "Next" to proceed.

  1. Save your Mnemonic phrase somewhere secure! You will need this to recover your account to enter it from a new device or even from a new account on a browser, or potentially after a browser upgrade. If you lose it, you will lose access to your funds! Do not share this Mnemonic phrase with anyone, anyone who has access to it will have access to your funds!

  1. Verify your Mnemonic phrase by typing it back in. Once completed, select "Verify".

  1. That's it your wallet has been created! After successfully completing the steps above, you will find yourself in the main menu of Solflare where you will find information about your wallet account address.

Transfer SOL to your wallet

  1. To find your receiving address select "Receive".

  1. A pop up window will appear with your Solflare main authority address, and alternatively a QR code. Use this receiving address to send your SOL to your Solflare wallet.

Once you have transferred funds into your main authority wallet, you are now ready to start Staking!

Staking Solana

  1. To start staking, you must first go to the staking section of the wallet by selecting "Staking" on the top of the page. You will then be given three options, Liquid SOL Staking, Native SOL Staking, and SLRS Staking. Select "Native SOL Staking". You can find more information about Liquid SOL Staking on Lido's SOL Page. Lastly select "Start Staking".

  1. A pop up window will appear. Input the amount you wish to stake and the validator you wish to stake with. Leave some SOL in your wallet to pay for transaction fees. Since they are very low at Solana, only a small amount is required.

To find P2P Validator type it in the search bar. Select "Stake" to proceed.

  1. You will then be prompted to enter your password one last time for security reasons.

  1. Once your delegation transaction has been confirmed, you will see that your stake is activating. For more information on when you will start receiving rewards please refer to our SOL Warm-Up article.

That's it! You are now delegating your SOL to P2P Validator. Note that your SOL are still fully in your custody, but you are delegating them to P2P to help us partake in network activities and you will be rewarded for your contribution!

Phantom Solana (SOL) Staking Guide

Before starting you will have to own some SOL - you can purchase it on multiple cryptocurrency exchanges.

Create Phantom Wallet and transfer SOL to it.

  1. To start, you will want to download the Phantom extension on their page.

  1. If the wallet page does not open up automatically after downloaded, you should select Phantom in your list of extensions. If you are using Google chrome, you can find your extension in the top right of the page.

  1. To create a wallet select "Create New Wallet"

  1. You will first be asked to save your Secrete Recovery Phrase. Save it somewhere secure! You will need this to recover your account to enter it from a new device or even from a new account on a browser, or potentially after a browser upgrade. If you lose it, you will lose access to your funds! Do not share this Secret Recovery Phrase with anyone, anyone who has access to it will have access to your funds!

  1. Create a password that you will use to enter your wallet when you are logging in from the same device. Select "Save" to proceed.

  1. Once you have saved your password and proceeded to the next stages, you will have successfully created your wallet!

7.You will then want to transfer your SOL into your Phantom wallet where you will have fully custody of your SOL. To find your receiving address select "Receive".

  1. To find you wallet address select "Send from wallet / Exchange" or alternatively you can Deposit SOL straight from FTX.

  1. Phantom will provide you with a QR code as well as a button to copy your wallet address. You can use this receiving address to send your SOL to your Phantom wallet.

Once you have transferred funds into you main authority wallet, you are now ready to start Staking!

Staking Solana

  1. To start start staking go back to the main page of your wallet and select Solana.

  1. Select "Start earning SOL".

  1. To find P2P Validator type it in the search bar. Select it to proceed.

  1. Enter the amount you wish to stake and select "Stake" to send out the delegation transaction.

  1. Phantom will create a separate staking account for your stake and then will delegate it to P2P Validator.

  1. Once you see this message, your delegation transaction has now successfully been sent out!

  1. You will see that your stake is activating. For more information on when you will start receiving rewards please refer to our SOL Warm-Up article.

That's it! You are now delegating your SOL to P2P Validator. Note that your SOL are still fully in your custody, but you are delegating them to P2P to help us partake in network activities and you will be rewarded for your contribution!

Solana (SOL) Staking FAQ

What is Solana?

Solana is a high-performance permissionless blockchain solving scalability issues without sharding and suitable for decentralized applications requiring high throughput.

What is the Solana staking APR?

The Solana staking reward is approximately 7%. More info here.

How often are staking rewards distributed?

Solana staking rewards are paid out to stakers approximately every epoch (2-3 days). More info here.

Is there an unstaking period?

It can take up to 3 days for your SOL tokens to be transferable. More info here.

Is there a slashing risk for validators?

There is currently no slashing risk for Solana validators.

Is there a minimum staking amount for Solana?

There is no minimum staking amount for SOL stakers.

Do staking rewards compound?

Yes, Solana staking rewards are compounded automatically.

What is the Solana inflation rate?

The Solana network inflation rate is approximately 8% per year.