Cryptocurrency Q&A
How to stake SOL on marinade for mSOL?
How to stake SOL on marinade for mSOL?
Giulia
Mon Jun 24 2024
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7 answers
1331
Could you please elaborate on the process of staking SOL on Marinade to earn mSOL? I'm interested in understanding the steps involved from start to finish. Firstly, what is the prerequisite setup required, such as having a SOL wallet and sufficient SOL tokens? Secondly, how do I connect my wallet to the Marinade platform? After that, what is the staking process like? Do I need to lock in my SOL for a specific duration? Also, how often are rewards distributed in the form of mSOL, and how can I track my staking progress and rewards? Lastly, are there any risks associated with staking SOL on Marinade, and how can I mitigate those risks? Thank you for your guidance.
7 answers
DigitalLord
Wed Jun 26 2024
If you wish to withdraw your SOL, you can unstake it and wait for the unlock period, which typically ranges from 1-2 epochs.
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CryptoProphet
Wed Jun 26 2024
Begin by navigating to the Marinade Finance platform.
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CryptoWizardry
Wed Jun 26 2024
Once there, you'll need to connect your preferred cryptocurrency wallet.
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Federico
Wed Jun 26 2024
Once the wallet is connected, follow the instructions provided on the platform to stake your SOL.
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Giuseppe
Wed Jun 26 2024
Marinade Finance will then begin staking your SOL, and in return, you'll receive mSOL.
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