How to stake Solana (SOL) in Exodus
Solana staking is live! And with Exodus, it only takes a few seconds to start staking your SOL tokens, and earning SOL rewards!
Of course, you’ll need to ensure that your desktop or mobile Exodus wallet is the most up-to-date version.
This is where you can download the Exodus Crypto and Solana Wallet.
If you're on Android or iOS, you can update directly from Google Play and the App Store.
How to stake Solana tokens in Exodus
You can pay a quick visit to the Exodus knowledge base for a detailed Solana Staking FAQ.
Any amount of SOL can be staked, just go to your Solana wallet, and click ‘earn rewards’ in the top left corner of the screen.
This will bring up a side window, where you can click ‘Start earning Solana’, and then input the amount you would like to stake, before clicking ‘Stake Sol’.
Your rewards should start to arrive in your wallet after two epochs on the Solana blockchain (approx 4 days).
It’s as simple as that!
How does Solana staking work?
Solana aims to become a hugely scalable blockchain solution, and they plan to achieve this by using a dual consensus mechanism.
Like many projects, Solana utilizes a Proof of Stake (PoS) blockchain, which means that the blockchain communicates through various nodes that are distributed all around the world.
Staking tokens on PoS means that you are contributing to these nodes and helping the blockchain run more efficiently, which is why you are then rewarded with a percentage of the transaction fees that are processed via your node.
The difference with Solana is that they mix this with their own Proof-of-History consensus, which is an innovative way of streamlining block times and speeding up transactions.
This short processing time is what makes the Solana blockchain so fast!
How much can I earn by staking Solana?
Check the Exodus Status & Assets page for up to date staking rates on 8 different cryptocurrencies, including Cardano (ADA) and Cosmos (ATOM)!
Happy crypto staking!
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.