How to Stake
Enterprise Solana Staking with Pier Two
Solana is a decentralised blockchain network renowned for its scalability, transaction speed, and low fees. Launched in 2017 and governed by the Solana Foundation, it employs a Proof of Stake (PoS) consensus mechanism that enhances network efficiency and complements network security. Solana can process over 65,000 transactions per second with an average cost per transaction of $0.00025. Approximately USD$65.32 billion worth of SOL is staked on Solana.
Rates
- Staking Rate6.54%
- SlashingNo in-protocol implementation of slashing currently
- Reward Frequency1 Epoch (~48 hours)
- Withdrawal TimeUp to 48 Hours
How to Stake
Solana's SOL
Once onboarded via the Control Centre, and completing KYC and compliance processes, all management of staked SOL can be done in one place. With access to monitor rewards, withdraw staked SOL on demand, claim rewards, create customised reports at any time and generate an API key to plug SOL staking into other environments. When staking SOL, you will create a staking account, different than one used to send and receive tokens (system account). Where SOL tokens are delegated to the Pier Two validator on the Solana network to potentially earn rewards for you as the owner of the stake account. Pier Two's Solana infrastructure seamlessly integrates with popular wallet providers like Ledger, Phantom, Trust Wallet, Solflare, and Coinbase. Pier Two also offers native Solana staking through integrations with BitGo, Zodia, and Fireblocks.
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Frequently Asked Questions
Can I be slashed?
There is currently no in protocol implementation of slashing on Solana. Where a slashing mechanism could be introduced in the future, delegators could risk losing the removal and destruction of a portion of a validator's SOL in response to intentional malicious behavior, such as creating invalid transactions or censoring certain types of transactions or network participants.
Why can I stake as much or as little as I’d like on the same validator?
Solana uses the Delegated Proof-of-Stake (DPoS) consensus mechanism where a single validator node can run the entire stake. There is no minimum or maximum amount of SOL required. Based on the total amount of staked SOL which determines the ‘voting power’ of the Pier Two validator, allowing delegators to earn a proportionate amount of SOL for performing consensus duties.
Is Solana inflationary?
Yes, the inflation rate for SOL tokens is currently approximately 8% per year. This inflation rate will decrease until reaching approximately 1.5% per year.
Are rewards sent to my staking address?
Rewards compound, can be claimed after the 1 epoch period (~2-days), merged and added to the staking account to increase the total amount of SOL staked. This can be seamlessly managed directly inside the Control Centre.
Do I retain custody?
Yes. When committing to staking SOL it moves from the system account to the staking account and is delegated to the Pier Two validator to vote on the network and participate in the network’s consensus process. Although the tokens are “assigned” to the validator, they are not transferred to the validator’s control or wallet. Withdrawal rights are controlled at all times (withdraw authority) and can be executed on demand. It typically takes 1 epoch period (~2-days) before funds are returned.
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