3 min read

Solana — How to Stake $SOL Tokens with Luganodes

Solana Staking Guide

Cover Image

Published on

7 Oct, 2022

Introduction:

Solana is a decentralized blockchain built to enable scalable, user-friendly apps for the world.

Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees than rival blockchains like Ethereum. Solana blockchain is powered by its native SOL token.

In this guide, we’ll show you how to delegate your SOL tokens with Luganodes and start earning ~7.14% in a few simple steps.

Validator Details:

Validator Name: Luganodes

Validator Identity: 6WgdYhhGE53WrZ7ywJA15hBVkw7CRbQ8yDBBTwmBtAHN

Vote Key: 6aow5rTURdbhbeMDrFrbP2GR5vZjMEhktEy87iH1VGPs

Blockexplorer Link: https://solanabeach.io/validator/6aow5rTURdbhbeMDrFrbP2GR5vZjMEhktEy87iH1VGPs

Unbonding time:

  • Unbonding period is a timeframe in which the funds are locked when you unstake
  • The unbonding period on Solana, is approximately 2–3 days ( 1 epoch ).

Step-by-Step Staking Guide:

Step 1 — Set up a Solana-compatible wallet with some funds available in it

  • To begin the steps for staking Solana, first, we need to install the Phantom wallet. Head over to https://phantom.app/ and add the wallet to your browser.

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  • Once you have installed the wallet to your browser, create a new wallet and deposit some SOL.

Step 2 — Select Stake From Your Wallet

  • Once you have funded your wallet, click the “SOL” balance.

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  • You will find an option to “Start earning SOL” where you can stake your tokens to earn rewards.

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  • Click on the yellow star, this will take you to the list of validators.

Step 3 — Choose the Luganodes Validator

  • Enter Luganodes in the Search text field
  • Click on the “Luganodes Validator”

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  • This will open the “Start Staking” window

Step 4 — Set the Delegation Amount and Confirm

  • Enter the delegation amount in the Amount field and click on “Stake

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  • From here, your staking transaction will take a minute or so to process

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  • Now you have successfully delegated your $SOL with Luganodes

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Step 4 — Check your staked amount

  • In your Solana wallet, you can check your staked amount at the bottom.

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Step-by-Step Unstaking Guide:

Step 1— Go to your solana wallet

  • Go to your solana wallet and click on Solana (for this guide we’re using phantom wallet).

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Step 2— Click on Your Stake

  • This will take you to your validators with whom you’ve staked your sol tokens

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Step 3— Click Luganodes

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Step 4— Click on Unstake

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Step 5— You’ve successfully unstaked your SOL tokens 14sln_mcRljsVDEcl_sAQ9tFqkHQ.webp

About Luganodes

Luganodes is a world-class, Swiss-operated, non-custodial blockchain infrastructure provider that has rapidly gained recognition in the industry for offering institutional-grade services. It was born out of the Lugano Plan B Program, an initiative driven by Tether and the City of Lugano. Luganodes maintains an exceptional 99.9% uptime with round-the-clock monitoring by SRE experts. With support for 36+ PoS networks, it ranks among the top validators on Polygon, Polkadot, Sui, and Tron. Luganodes prioritizes security and compliance, holding the distinction of being one of the first staking providers to adhere to all SOC 2 Type II, GDPR, and ISO 27001 standards as well as offering Chainproof insurance to institutional clients.

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