Solana (SOL) Staking - Stake Your SOL With Figment
Solana (SOL)
Solana is a permissionless, decentralized, and secure smart contract blockchain platform proposing to solve the scalability problem.
Solana encodes the passage of time as data, called Proof of History (PoH), that leverages a verifiable delay function (VDF) to reduce transactional overhead between nodes in the network. Solana has created a user-friendly platform experience which has a diverse application ecosystem and high transaction activity in the realms of video games, NFTs and DeFi. Solana has multiple key technological innovations that enable unparalleled transaction speed and remarkably low fees.
Validator Addresses
- Vote Account: CcaHc2L43ZWjwCHART3oZoJvHLAe9hzT2DJNUpBzoTN1
- Identity: Fd7btgySsrjuo25CJCj7oE7VPMyezDhnx7pZkj2v69Nk
Market Cap
$43.2B
Staking Reward Rate*
5.23%
Price
$74.16
Auto-Compounding
Yes
Reward Frequency
1 Epoch (2 Days)
Activation
2 Days
Withdrawal
2-6 Days
Slashing Penalties Enabled
No
*Staking Reward Rates (SRR) vary based on network conditions, delegation size, and infrastructure optimizations. Contact our team to explore your potential rewards.
Why Stake Solana With Figment?
- High-speed network ≈ 3000 TPS right now, a scale up to 65,000 and has low fees ≈ $0.00025 per transaction
- User-friendly platform experience which has a diverse application ecosystem and high transaction activity
- Multiple Applications in Development: Solana Pay, Solana Mobile (Saga), Pyth Oracle
- Lowest average energy usage per transaction compared to other networks
- 1.1 SOL minimum staking requirement to stake your Solana
Solana Staking FAQ
Where can I explore the network and create a Solana wallet?+
Solana Beach is Solana’s network explorer.
We recommend using the SolFlare wallet to stake.
You can also use a hardware wallet such as the Solana Ledger wallet.
Check out the Solana team’s docs for other wallet options.
What is the name of the asset being staked?+
Solana’s native token, SOL, will be used for staking and transaction fees.
Solana also has a wrapped token, SPL. It is the standard for synthetic token creation and exchange.
Is there a minimum to stake Solana (SOL)? +
Yes, Figment has a 1.1 SOL minimum for staking Solana (SOL).
When are staking rewards enabled? When are transfers enabled?+
Transfers are currently enabled.
Staking rewards were fully enabled on Feb 10, 2021.
How long does it take to stake & unstake SOL?+
From the time you begin staking, it will take about 48 hours to begin receiving rewards.
From the time you stop staking, it will take about 48 hours for your tokens to be liquid (ie. before you can transfer or trade them).
Do I maintain custody of my SOL tokens? Who or what controls my staked SOL token?+
At all times you maintain self-custody of your SOL in your wallet.
Options for self-custody include: a hardware wallet like Ledger, web extension wallets like Phantom or a mobile application wallet. Only you and no other party control your Staked SOL, through your wallet’s unique withdrawal authority on your SOL stake account.
Your stake accounts delegates, but does not transfer your SOL to a validator to earn rewards.
At no time does the validator or the Solana blockchain have the ability to transfer or withdraw your SOL from your stake account.
When you use your unique withdrawal authority to unstake your SOL from a validator, it will take ~48 hours (1 epoch) to be available to withdraw to your wallet.
Can my staked SOL be slashed (seized or destroyed)?+
Unlike other PoS networks, Solana doesn’t have an automatic or programmatic slashing. However, if an attacker halts the network (attacker controlling roughly ⅓ of total stake), slashing can occur through a governance decision upon network restart.
Do rewards automatically compound when I stake my SOL?+
Protocol (inflationary) rewards automatically compound. Rewards from Jito (MEV) do not automatically compound, and must be manually claimed or re-delegated.
Do I need to claim my SOL staking rewards manually?
No, you don’t need to claim your SOL staking rewards manually. They are automatically added to your stake at the end of each epoch.
Can I lose potential staking rewards?+
Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking rewards.
Are rewards still earned during the unbonding period?+
No rewards are earned during the unbonding period.
What is the rate of new issuance (aka "annual inflation") for SOL? How does the token supply change?+
Right now, the inflation rate is around 8% of the total supply, set to decrease by 15% per year until reaching a floor of 1.5%.
How are decisions about Solana made and executed?+
Solana uses token voting for on-chain governance. Governance proposals are discussed on the Solana forum.
Long-term governance will be conducted under the Solana Foundation, a Swiss non-profit entity established in June 2019. Various stakeholder groups within the Solana community (such as validators, replicators, users, developers, and token holders) will elect the foundation’s board.