How to stake Solana using stake2earn 🌜

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What is Solana ?

Solana was founded in 2017 when Anatoly Yakovenko published a whitepaper draft detailing a new concept called Proof of History (PoH). Anatoly believed that with this new technique, he could automate the transaction ordering process for blockchains, in order to allow a higher scalability.

Later on, Anatoly teamed up with Greg Fitzgerald to build a single blockchain network that uses POH.

How to stake Solana with stake2earn 🌜?

1. Access your Solflare Account

Access the platform and click “Create” in the top right menu bar.

solana and ledger nano s

Carefully read the info-text, then choose “Using Keystore File” and click “Next”.

create solflare wallet

Note to yourself! Always make sure that you choose a very strong password that you share with no one. For safekeeping, never store your password on your computer.

In addition to your Keystore file, you can save another file called “Raw Private Key”. You can use the “Raw Private Key” file to manage the same account with the Command-Line-Interface (CLI) in case you lose your password or Keystore file. Don’t forget to check the box next to “Get a Raw Private Key”, then, click “Next”.

create solana wallet

Upload your Keystore file to ensure you have access to it. Hit “Finish” to finalize the process.

create solana wallet

You are now logged and you can see the main menu of Solflare in which you find key information about your Wallet Account such as your wallet account address, your balance, or your most recent transactions.

solana view wallet balance

You can now fund your Wallet to perform actions such as staking.

2. Creating a Stake Account

After your Wallet Account was successfully funded, you can now create one or more Stake Accounts. If you want to delegate to more than one validator, you will need to create a Stake Account for each delegation. You can split your funds in your Wallet Account, but don’t forget that for each transaction there is a small fee. So, leave some $SOL behind to assure this fee is paid.

In order to create the Stake Account, please click on Staking from the top bar, click on “Create Account”. Fill in the amount you want to transfer from your Wallet Account to your Stake Account in the pop-up menu and click on “Next”. Now, You’ll have to input once more your password and hit “Submit”. This process needs to be repeated for every Stake Account you want to create.

This process needs to be repeated for every Stake Account you want to create.

create stake account

3. Delegating your Stake

Now, you can select “Delegate Now” next to your Stake Account, and afterwards you will need to select the validator of your choice and click “Next”.

You can either fill in the Search box “stake2earn” and select our validator, or directly look for alexdcrypto — stake2earn 🌜

stake with stake2earn

You can see more about stake2earn Solana Validator, here:

stake2earn solana validator

At this point, you will need to input your password once more and click “Submit”.

transaction completed

You are now officially a delegator on Solana blockchain! Congrats!

You will start earning rewards once the Warmup Period has concluded (approximative 2–3 days). Until that moment, you will see your Stake Account under the status “activating”.

solana activating staking.png

All is now set to stake, so.. Good luck at staking! 🌜