Stake Solana on Liminal

Created by Muskan Bhandari, Modified on Wed, 3 Jan at 12:13 PM by Muskan Bhandari

Solana offers a decentralized, permissionless blockchain platform that excels in security, smart contracts, and scalability. Central to its innovation is Proof of History (PoH), a unique time-tracking mechanism enhanced by a verifiable delay function (VDF).
This streamlines network interactions and simplifies transactions.
With a user-friendly platform and a diverse application ecosystem—from gaming to NFTs and DeFi—Solana sets itself apart through rapid transactions and cost-effective fees.

Benefits and Staking Parameters for SOL

Staking Rewards Rate: 7.15%
Reward Frequency: Per Epoch (2 days)
Unbonding Period: Per Epoch (2-6 Days)
Slashing Penalties Enabled: No
Inflation/Deflation: 8% Inflation, deflating 15% yearly
Auto-compounding: rewards are automatically re-staked
Validator: Figment

Stake Solana With Liminal

How to Stake?

Enable Staking: To initiate staking for your organization, kindly reach out to our dedicated sales team at sales@lmnl.app.
Create a Staking Wallet: Once the staking feature is enabled, you can proceed to create a wallet for staking purposes or enable an existing wallet for staking, only the admin or owner can enable a wallet for staking. Enabling a wallet, whitelists the validator address on that wallet, so that wallet members can initiate staking transactions. This is an added security feature, that helps prevent accidental stakes on incorrect addresses. For a comprehensive guide on setting up a cold wallet, please refer to our tutorial on How to Setup Cold Wallet.
Start Staking: After successfully creating your wallet, navigate to the Staking menu and select "Start Staking." Choose the wallet you wish to stake from, and then click on "Enable Staking.

4. Create Account: Once your wallet is added, click on "Create Account." On the ensuing pop-up window, specify the desired staking amount. Click "Next" and proceed to sign the transaction.

Staking Period: Upon the completion of the transaction, your wallet balance will be reduced and reserved as the activation amount. It will take approximately 2 days for your balance to become eligible for the staking period.

How to Unstake?

STEP 1: Claiming Your Staked Balance: After the 2-day lock-in period, you can begin the unstaking process by clicking on the "Unstake" button and signing the transaction. This action will make your staked balance available for withdrawal.

STEP 2: Retrieving Your Staked Rewards: Once your balance is eligible for withdrawal for approx 2 days, you can claim your rewards.

Navigate to the "Withdraw" button and follow the on-screen instructions in the pop-up window. After signing the transaction, your staked balance and earned rewards will be returned to your wallet for future staking or other opportunities.

Please Note:

In addition to the standard staking procedure, please take note of some considerations from staking Solana to enhance your staking experience:

Support partial wallet stake amounts
Each wallet can initiate only one staking process at a time
Once staked, you cannot change the staking amount
Unstaking will unstake the entire amount
Staking may incur gas fees, do not stake your entire balance

At Liminal, we are committed to providing you with a seamless and user-centric staking experience.
If you have any questions or require assistance at any point in your staking journey, please do not hesitate to reach out to our dedicated support team here: sales@liminalcustody.com
Your success is our priority.