Staking has become a popular method for cryptocurrency holders to earn passive income while supporting blockchain networks. Solana, known for its high throughput and scalability, offers staking opportunities that allow participants to contribute to network security and receive rewards in return.
Tangem has introduced a new validator for Solana staking, offering an attractive Annual Percentage Rate (APR) of 7.35%.
This short guide explores the benefits of staking with the Tangem Validator and shows you how to get started.
What is Staking on Solana?
Staking on Solana involves participating in the network's Proof of Stake (PoS) consensus mechanism by delegating your SOL tokens to a validator.Validators are responsible for verifying transactions and maintaining the blockchain's integrity.
By staking your tokens, you contribute to the network's security and efficiency.In return, you earn rewards proportional to the amount staked and the validator's performance.
Why Stake with the Tangem validator?
Choosing the right validator is crucial for maximizing your staking rewards and ensuring the security of your assets. The Tangem Validator offers several compelling advantages:
High APR (7.35%): Tangem provides a competitive APR, allowing you to earn substantial rewards on your staked SOL tokens.
Security & Reliability: Tangem's infrastructure is designed to ensure high uptime and robust security measures, contributing to the decentralization and resilience of the Solana network.
Seamless integration: Having Tangem as a validator means a smoother and more user-friendly experience for staking and managing your Solana.
How to Stake SOL with Tangem
Staking your SOL tokens with Tangem is a straightforward process. Follow these steps to start earning rewards:
Set up your Tangem Wallet: If you haven't already, download and install the Tangem Wallet app on your device.Follow the on-screen instructions to create a new wallet and securely back up your wallet.
Deposit SOL coins: Acquire SOL tokens through the app via on-ramp services.Transfer the tokens to your Tangem Wallet by copying your wallet address and initiating a transfer from your exchange account.
Go to the Solana coin page and tap Stake.
Review the information about staking the token, including the APR, Unbonding period, and reward schedule.
Tap Stake.
Enter the amount you want to stake and tap Next. Make sure to keep some coins in your balance to cover the required transaction fees.
Tap Stake to proceed with the transaction.
Enter your access code/biometric ID and tap your Tangem Wallet to sign the transaction.
Tap Close.
Monitor your Rewards: After delegating, you can monitor your staking rewards and manage your staked tokens directly within the Tangem Wallet app.
To optimize your staking returns, consider the following strategies:
Stake for longer periods: Committing your tokens for extended periods can lead to higher rewards, as some staking protocols offer tiered incentives based on lock-up duration.
Compound your rewards: The power of compounding can significantly boost your returns over time, so regularly reinvesting your staking rewards can be a smart investment.
FAQ: Tangem Solana Validator
What is the Tangem Solana Validator?
The Tangem Solana Validator is an official validator node that allows Tangem users to stake their SOL directly through the Tangem Wallet. By delegating their SOL to the Tangem Validator, users contribute to the security and decentralization of the Solana network while earning staking rewards.
Is this an official Tangem initiative?
Yes, the validator is officially linked to Tangem. Users can verify its existence and performance directly on the blockchain using the official link: Tangem Solana Validator.
Why did Tangem focus on its own validator instead of supporting options like Meria?
Our goal is to simplify the staking process and enhance the user experience. This approach ensures a smoother staking process for our users.
What happens to funds that were previously staked with other validators?
All previously staked SOL remains secure. You have full control over your funds and can choose to:
- Continue staking through your previous validator. - Unstake and withdraw your funds at any time. There are no restrictions or forced migrations.
If I previously staked with P-ops or another validator, what steps should I take?
You can either continue staking with P-ops (or any other validator) or withdraw their SOL at your convenience. The transition does not impact your funds or staking rewards.
Does this affect Tangem Express (swaps and on/off ramp services)?
No, the Tangem Validator is strictly related to staking and operates separately from Express features such as swaps and on/off ramp transactions.
Conclusion
Staking your SOL tokens with the Tangem Validator offers a compelling opportunity to earn a competitive APR of 7.35% while contributing to the security and efficiency of the Solana network.
With Tangem's secure and user-friendly platform, both new and experienced users can seamlessly participate in staking.
Start staking today to maximize your earnings and support the growth of the Solana ecosystem.
