• 0 Posts
  • 6 Comments
Joined 11 months ago
Cake day: October 31st, 2023
  • cogent_crypto@alien.topBtoSolana•How to pick a validator for staking SOL?English
    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 :)

  • cogent_crypto@alien.topBtoSolana•Staking in Phantom - Can they ever steal your SOLEnglish
    1·
    10 months ago

    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 :)

  • cogent_crypto@alien.topBtoSolana•Staking Solana on Ledger Figment rewards?English
    1·
    10 months ago

    Hey there,

    For a 50 SOL stake with a 7.5% validator, you would be looking at around 3.75 SOL in staking rewards.

    Staking is an integral mechanism of proof of stake networks such as Solana. By delegating your stake to a validator (someone who processes transactions and participates in consensus), you are essentially promoting the decentralization of the network by assigning your voting power that your SOL represents. In doing so, you will receive staking rewards which are paid out from inflation. These staking rewards helps keep your SOL in line with Solana’s inflation schedule which essentially means your SOL holdings won’t be diluted by inflation. Therefore it’s certainly a good idea to be staking your SOL.

    However, it’s worth noting Ledger validators currently have 14+ million SOL staked with them across 2 nodes, (Figment & Ledger by Figment) both within the superminority, therefore not great for decentralization. A recommendation here would be to choose another validator/s to help with stake distribution.

    Stakewiz.com is a brilliant tool that can be utilized to lookup validators and there performance. Avoid staking with anyone on this list https://stakeview.app/poor.html and ideally outside of the superminority to help with decentralization of the network.

    We have written a comprehensive staking guide that explains all about staking, the risks and how to choose a validator which you may find useful. You can check it out here: https://medium.com/@Cogent_Crypto/solana-staking-guide-part-1-6a6a85f07b56