I see MCF and it gives a high yield with 0% commission and others. But with these validators once you stake can they ever steal your Solana? and how long does it take to stake or unstake?
You must log in or register to comment.
Hey u/caseyrobinson2,
Validator here 👋
Natively staking to a validator is completely non-custodial which means you keep full custody of your SOL at all times. The validator has no control over your SOL, as the private keys always remain with yourself. When you stake, you are delegating your voting power to a particular validator/s. In return you are awarded staking rewards, which helps keep your SOL in line with Solana’s inflation schedule.
As slashing isn’t currently in place on Solana, this isn’t something you need to worry about for now. The worst that can happen when staking is that a validator becomes delinquent or rugs commission (Sets commission to 100% at epoch boundary). In both these cases your SOL always remains safe as you have the private keys. It would just mean you would lose out on rewards for the period that the validator is delinquent/rugging commission. You will always be able to unstake and withdraw your SOL.
StakeWiz.com is a brilliant tool that can be utilized to setup alerts in the above scenarios.
Marinade Native is a great option too as it automatically delegates across top performing validators. Unlike liquid staking, there is no smart contract risk with this method.
A hardware wallet is recommended to help secure your private keys further as it generates and keeps them offline.
If you have any particular questions/concerns, we welcome you to reach out and would be more than happy to assist :)
Phantom can easily update their app and take your private key. Doesn’t matter what other safeguards there are at that point.
Do you understand how retarded what u said was
Do you understand how wrong you are. Do you really think the app that holds your private key and automatically updated couldn’t steal your key if they wanted to?
Do you understand how retarded what u said was
hey there!
When staking with a validator in Phantom, your SOL remains in your custody at all times. Validators don’t have control over your SOL, as the private keys always stay with you. You can unstake and withdraw your SOL whenever you want. There’s an activation period of around 2-3 days when natively staking, but you have the option to instantly unstake for a small fee. So, your SOL is always safe and accessible. If you have any more questions, feel free to ask!
As many others said, they can’t. Very simply put, u r just letting the network know that u “let this validator speak for u with X much of sol power u locked” (kinda)Reason the high yield validator + 0% fees! exist is that 1. Validator is new and want to promote (mostly temporary 0% fee) 2. Validator will, nearing the staking reward, increase the commission (validator’s share of staking reward) to 100%. Therefore they get all the staking rewards from ur sol power (which isn’t what u want).If you don’t want to stress over commission changes n’stuff, u might wanna check out “Liquid Staking”. Simply put, protocol picks best validators and manages staking for u, like a fund manager for staking. Difference is instead of locking raw sol in wallet, u will “deposit” ur sol into the protocol and mint equivalent a proof-of-deposit tokens in ur wallet. These will by nature accrue sol values over time so that when you return/swap that proof-of-deposit tokens after some time u get original amount + earned sol from staking. These tokens are treated as sol equivalents in many defi protocols on solana. (lose’em u don’t get ur sol back)
If you want to check out I recommendMarinade [ mSol ] https://marinade.finance/ - OG, great comprehensive guide, can never go wrongJito Network [ jitoSol ] https://www.jito.network/ - Building reputations, currently on points event (implying possible airdrop)SolBlaze [ bSol ] https://solblaze.org/ - New, lots of promo with defi, also airdrops
jito staked
hey there,
stake with confidence! when you stake with a validator in Phantom, your SOL remains under your control at all times. the validators have no power over your SOL as your private keys stay with you. there’s no risk of theft or slashing. you can unstake and withdraw your SOL at any time.
consider using StakeWiz.com for alerts and Marinade Native for auto-delegation to top validators. a hardware wallet adds an extra layer of security to your private keys.
activation period for staking takes an epoch to complete, which is around 2-3 days. you can also opt for instant unstaking for a small fee through Solflare.
feel free to ask if you have more questions, happy to help out :))
hey there! 👋
when you stake your SOL with a validator, your coins remain under your control at all times, so there’s no risk of them being stolen. the worst that can happen is that you might miss out on rewards if the validator becomes delinquent, but your SOL is always safe.
staking and unstaking can take an epoch to complete, which lasts around 2-3 days. there are options for instant unstaking for a small fee if needed.
feel free to ask if you have any more questions! 😊
Nope …only in a single case if they have access to your private key.