How to use Solana (SOL) for Solflare stake via Ledger
SOLANA – This is a fully decentralized blockchain that boasts high scalability and throughput. The latter allows him to process up to 50,000 transactions per second, while the peak performance of Visa is 4,000. SOLANA is one of the fastest growing ecosystems in crypto industries with thousands of projects covering Defi, NFT and Web3.
Having joined the SOLANA ecosystem, you can delegate your tokens and receive up to 7% per annum.
Solflare Allows users to create a special wallet for stakeing SOL in two ways. The first – using the keys protected by the password, the second – by connecting Ledger’s hardware wallet with a higher level of safety.
Install the Ledger Live application
Install Ledger Live from the official Ledger website .
Open the tab ” Manager “, Located on the left side panel of the Ledger Live application, connect Ledger to the computer and confirm the connection.
In the application catalog, find in the SOLANA list and install it.
Now you can create your own Solflare online wallet.
Set the Solflare web extension and connect your Ledger
Solflare -This is a convenient online wallet for SOLANA holders with an intuitive interface. In it, users can easily place SOL tokens. First go to Solflare site and press ” Add to Chrome “”.
In the new window, click ” Add to Chrome “, then ” Add Extension “”.
After that, you can click the extension icon in the upper right corner and flatten the Solflare wallet to have easy access to it.
Launch the extension and select the most suitable method for you:
Attention! Web-pies can be vulnerable to online attacks, such as phishing or data interception. Use Ledger devices to access your wallet to prevent theft of funds and make steaking safe. Hackers will not be able to steal tokens without access to your hardware wallet.
Select ” Continue with Ledger “If you decide to create a wallet yourself. If you already have a wallet, use the recovery phrase.
In this leadership, we will consider creating a wallet from scratch.
Create an account
Connect your Ledger and unlock it.
Open the SOLANA application and click ” Continue “When you are ready.
Select your device in the pop -up window of the browser and confirm the connection.
Set the password for your wallet. Click ” Continue “”.
Now choose the way to get it, t.e. Data fragment that determines how a wallet can get a specific key in a tree tree. There are many ways to withdraw, so you can generate an infinite number of addresses of an open key from one mnemonic phrase. Sollet and Phantom Use the Derivation Path “M/44’/501 ’/0’/0 ′ “ , a Solflare Uses “M/44’/501 ’/0 ′” .
Select one or more addresses and click ” Continue “”. If you start from scratch, just select one.
On the main page, the balance and your address will be displayed.
Adding funds to a wallet
Copy the address of your wallet on the toolbar and send SOL to this address from a wallet or exchange, or share data with the sender. You can also click ” Receive “And provide the sender of the QR code.
As soon as the network confirms the transaction, the tokens will appear on the balance of your crypto.
When tokens appear in your wallet, click ” Start Staking “”.
In this leadership, we will bet on stakeing using a validator. Select ” NATIVE SOL STAKING “, and then https://gagarin.news/news/what-is-apy-in-crypto-and-why-is-it-important-for-crypto-investing/ ” Start Staking “”.
Indicate the amount you want to send to staining.
Note: Before you make stakeing bets, make sure that your wallet has at least 0.05 SOL to pay for transactions! If you set the maximum possible amount, you cannot continue to surge your tokens and withdraw coins.
Start introduce the first letters of the validator, for example, Everstake . You will see how many tokens are already delivered with the validator, as well as the validator commission. The commission may vary from 0 to 15% depending on the validator. Click ” Stake “”.
Why bet with Everstake?
It’s profitable: The validator takes the average commission (7%) and provides ~ 100% pharmacy. Read more about us here . We also offer special conditions for large investors. Contact us to clarify details.
This is reliable: Everstake – This is a large high -performance validator that is constantly improving its services and performance, and also uses the best hardware/software with highly professional specialists. We have an extensive experience in checking ~ 50 POS blockchains.
It’s comfortable: We provide services for monitoring caused assets. We We support users and help with questions related to staining.
It’s simple: We regularly publish stake leaders in our blog , To help beginners quickly understand how to delegate assets on different wallets. We have blockchain managers for each of the networks to control the operating flow in the most effective way.
Confirm the transaction in your Ledger. Perform all steps one by one and click ” Approve “”.
Wait until the transaction is confirmed by the SOLANA network. And ready!
Now you can see how your bet on the wallet toolbar is activated. Your SOL will begin to earn a remuneration for work in the Steiking program as soon as the account becomes active (up to 2-3 days). Train progress on Solanabeach.Io .
Cancellation of stakeing stake Sol
To track your bet, click on your account and open it in more detail its details.
You can divide or cancel delegation. Separation will create a new account and instantly transfer the desired amount there. Click ” Undelegate “To withdraw funds from the validator.
Confirm the transaction in your Ledger.
Ready! Tokens were unlocked. SOL will be removed after deactivation of the rate.
As soon as the rate becomes inactive, bring your tokens. Confirm the transaction in your Ledger.
Please note that remuneration will no longer be generated from the moment of the anching. After the conclusion, your SOL tokens will be available for transfer and other operations.
Nevertheless, there is still an account for bets, so you can find part of the tokens on the account (this is done automatically to save your account for betting on the network). You can close the account and withdraw this part of SOL. Confirm the transaction in your Ledger.
Sometimes you can get an error message:
Error: the transaction has not yet been confirmed, check the conductor manually.
In this case, we advise you to check the transaction in the conductor to make sure that it has passed. You can also update the page and check the balance of your staying account.
As soon as all accounts for bets are closed, you will not see a single active bet on the toolbar.
SOLANA STAKING FAQ
What is an era?
The era is a unit of time in computer technology. Its default value varies, but usually about 2-3 days. When you start betting, the era in which you are, will not accumulate awards. Check the length of the era on Solanabeach.Io .
What does activation/deactivation of the status of the bet mean?
When you delegate or cancel the delegation of the share of the account, the tokens do not immediately change their condition. New delegated tokens are considered ” Activating ” or ” Warming up “And they cannot bring reward until they are fully activated. New weekly tokens are considered ” Deactivating ” or ” Cooling Down “And cannot be withdrawn until they are deactivated.
I put all my SOLs and cannot cancel the bet
You need to transfer a small amount of SOL to a wallet for payment TRXS. SOLANA recommends storing at least 0.05 SOL in its wallet for all future gas payments.
How long does it take to cancel the steaking, and whether I need to take additional steps?
Deactivation of the bet is an entire era. After that, you will need to withdraw tokens.
How to track all my rewards for SOL staying?
Track your rewards for staying with SOLANA researchers. Check out our detailed guidance .
Additional answers and streaming guidelines for exodus, Phantom, Solflare and Trustee wallets can be found on special page .
Everstake is the largest decentralized steiling service provider, which is trusted by 625,000 users. Over the past four years, the company has used corporate level equipment for launching more than 8,000 GCDs for the most popular blockchain networks. More than 100 experts around the world operate in Everstake, and they are actively involved in the development of complex blockchain products, such as MetaPlex, Portal and Everlend .
Everstake is a co -founder AID for Ukraine – Charitable organization. The initiative has been approved by the Ministry of Digital Transformation of Ukraine, and more than 60 million dollars have been attracted since its launch.
Together with the Ministry of Culture and Information Policy of Ukraine, Everstake launched the initiative “We will save the culture of Ukraine”, the purpose of which is to raise funds to protect the country’s cultural heritage in the context of the ongoing barbaric invasion of Russia.
The Everstake team selects only promising POS projects. Delegation with Everstake is safe and profitable – our team conducts a thorough study of the project before joining the network as a validator.
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We previously published this material On the Everstake blog.