Solana (SOL)

Solana Beach is Solana’s network explorer.

We recommend using the SolFlare wallet to stake.

You can also use a hardware wallet such as the Solana Ledger wallet.

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

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.

Transfers are currently enabled.

Staking rewards were fully enabled on Feb 10, 2021.

From the time you begin staking, it will take about 48 hours to begin receiving rewards.

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).

At all times you maintain self-custody of your SOL in your wallet.

Options for self-custody include: a hardware wallet like Ledger, web extension wallets like Phantom or a mobile application wallet. Only you and no other party control your Staked SOL, through your wallet’s unique withdrawal authority on your SOL stake account.

Your stake accounts delegates, but does not transfer your SOL to a validator to earn rewards.

At no time does the validator or the Solana blockchain have the ability to transfer or withdraw your SOL from your stake account.

When you use your unique withdrawal authority to unstake your SOL from a validator, it will take ~48 hours (1 epoch) to be available to withdraw to your wallet.

Unlike other PoS networks, Solana doesn’t have an automatic or programmatic slashing. However, if an attacker halts the network (attacker controlling roughly ⅓ of total stake), slashing can occur through a governance decision upon network restart.

No, you don’t need to claim your SOL staking rewards manually. They are automatically added to your stake at the end of each epoch.

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.

Website

Twitter

Solana Community