Sorry, probably silly question that was asked million times. How to select a pool in Phantom app? Or should I pick something else completely? From what I can see there is a list of validators I could trust my SOL. Is there a difference? Are any of them more risky than others? What are your criteria for selecting one?

thanks

  • cogent_crypto@alien.topBEnglish
    1·
    10 months ago

    Hey u/vonGlick,

    Validator here 👋

    We have written a staking guide which you may find useful, feel free to check it out here: https://medium.com/@Cogent_Crypto/solana-staking-guide-part-1-6a6a85f07b56

    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.

    StakeWiz.com /stakeview.app are both brilliant tools to lookup validators. StakeWiz is particularly useful as can be utilised to set up alerts for commission changes or should a validator become delinquent.

    It is advised to avoid staking with anyone on this list https://stakeview.app/poor.html.

    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.

    If you have any particular questions/concerns, we welcome you to reach out and would be more than happy to assist :)