Figment

Why Stake with Figment?

EXPERIENCED & TRUSTED

EXPERIENCED & TRUSTED

Figment is a venture funded, registered Canadian company based in Toronto. Canada offers stability, rule of law and clear crypto regulation.

Serving the world’s largest SOL holders.

30+ years of experience successfully scaling internet infrastructure companies.

FEATURES & BENEFITS

FEATURES & BENEFITS

Figment Prime & discounts available for large SOL holders. Contact us for more information.

Active participant in the Solana ecosystem.

SECURITY & SAFETY

SECURITY & SAFETY

The world’s most advanced physical IDC + multi-cloud staking infrastructure.

You maintain custody of your SOL at all times.

Third-party custody solutions are available through our institutional partners. Contact us for more information.

COMPLIANCE

COMPLIANCE

Protected via industry-leading Staking & Delegation agreement.

Delegating SOL

Figment’s Node Operation ID:

Fd7btgySsrjuo25CJCj7oE7VPMyezDhnx7pZkj2v69Nk

We recommend using https://www.solflare.com wallet and Ledger. 

Enter the amount of SOL you want to use to fund your new stake account. This amount will be withdrawn from your wallet and transferred to the stake account. Don’t transfer your entire wallet balance because your wallet is still used to pay any transaction fees associated with your stake account.

After you submit and sign the transaction, you will see your new stake account appear in the box labeled “Your Staking Accounts.”

From the Staking dashboard, click “Delegate” on the right side of a stake account. Select the validator you wish to delegate to from the drop-down list – click Delegate.

Fiat-to-Token Exchange

Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.

View Guide

Learn More

Solana is a permissionless, decentralized, and secure smart contract blockchain platform proposing to solve the scalability problem.

Solana encodes the passage of time as data, called Proof of History (PoH), and leverages a verifiable delay function (VDF) to reduce transactional overhead between nodes in the network. 

The project is founded by Anatoly Yakovenko and Greg Fitzgerald who were both Senior Engineers at Qualcomm before founding Solana. 

Solana is designed for decentralized applications that demand high throughput. Its architecture enables transactions to be ordered as they enter the network, rather than by block. Its uses cases include, decentralized exchanges, payments, micropayments, and distributed storage. 

You can learn more about Solana on their website, or by reading their whitepaper

Frequently Asked Questions

Where can I explore the network and create a Solana wallet?

Solana Beach is Solana’s network explorer.

We recommend using the SolFlare wallet to stake.

Check out the Solana team’s docs fcuror other wallet options.

 

 

What is the name of the asset being staked?

Solana’s native token, SOL, will be used for staking and transaction fees.

Solana also has a wrapped token, SPL. It is the standard for synthetic token creation and exchange. 

When are staking rewards enabled? When are transfers enabled?

Transfers are currently enabled.

Staking rewards were fully enabled on Feb 10, 2021.

How long does it take to stake & unstake SOL?

From the time you begin staking, it will take about 48 hours to begin earning staking income.

From the time you stop staking, it will take about 48 hours for your tokens to be liquid (ie. before you can transfer or trade them).

Do I maintain custody of my SOL tokens? Who or what controls my staked SOL token?

You can self-custody your Solana SOL tokens, ideally using a Ledger hardware wallet.

When you stake your SOL, the Solana protocol controls your tokens (not your validator) until you unstake.

Unstaking takes about 48 hours from the time you initiate the process.

Can my staked SOL be slashed (seized or destroyed)?

Delegators will be slashed up to 100% via on-chain governance if their validator signs illegal transactions or votes for an illegal fork. Downtime slashing is not enabled on Solana at this time.

Is staking income liquid or automatically staked?

Staking income is staked automatically, which means you will need to unstake to withdraw your staking income.

Can I lose potential staking rewards?

Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking income.

What is the rate of new issuance (aka "annual inflation") for SOL? How does the token supply change?

Right now, the inflation rate is around 8% of the total supply, set to decrease by 15% per year until reaching a floor of 1.5%.

How are decisions about Solana made and executed?

Solana uses token voting for on-chain governance. Governance proposals are discussed on the Solana forum.

Long-term governance will be conducted under the Solana Foundation, a Swiss non-profit entity established in June 2019. Various stakeholder groups within the Solana community (such as validators, replicators, users, developers, and token holders) will elect the foundation’s board.

Where can I learn more about Solana?

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