Solana is one of the top cryptocurrencies by market capitalization. It is also one of the best performing cryptocurrencies, making it a great asset to stake as well.
If you’re up for staking, Solana is one you should consider because it is a fast-growing project with a bright future. The project has been growing in leaps and bounds, and there are more developers running to it than ever.
You can stake the SOL token in different ways. You may wish to run a validator node, or by using a staking pool. While running a validator node is more rewarding, it comes with some risks, such as slashing if you default in your role.
Staking with a pool doesn’t pose such a risk to you directly, as you’re staking in a pool of stakers and contributing the little that you have. It is also a great option because it allows you to stake any amount of SOL you have with no hard minimum requirement.
The following are the best SOL staking pools that you can use to stake your SOL. They vary in their rewards and other factors, so be sure to do a thorough research before choosing the one to use.
Jito is the largest liquid staking platform on Solana. Because it is a liquid staking platform, it allows users to stake their assets and still access the assets as wrapped tokens.
Jito is specific about mitigating the adverse impacts of Maximum Extractable Value (MEV), and aims for a fair way of sharing MEV profits among stakers.
Staked assets are delegated to MEV-enabled validators who then engage in activities such as transaction re-ordering and arbitrage to generate profits. The profits are then used to boost the APY for JitoSOL holders.
Stakers on Jito therefore enjoy their staking yields as well as MEV rewards in this setup. The platform offers an APY of 6.96% but charges a rewards fee of 4% and a SOL withdrawal fee of 0.10%.
This is a fully non-custodial Solana staking protocol recognized by the Solana Foundation. It is the largest validator set on Solana, with over 200 validators among which stakes are spread.
The platform uses official stake-pool smart contracts from Solana Labs, unlike other pools that use third-party contracts. When withdrawing your earnings, you may choose to withdraw instantly or delay the withdrawal process to enjoy lower fees.
BlazeStake offers an APY of 6.23%, and an instant withdrawal fee of 0.3% while delayed withdrawal fee is 0.1%.
JPool is a staking pool that uses a scoring method to distribute SOL stake among participating validator nodes. The algorithm continuously monitors all nodes and proactively identifies performance gaps among validators, ensuring effective redistribution of stakes to maximize returns in every epoch.
The algorithm does this openly, with all users being able to see how strategic decisions are made by the pool engine, and the ranking/scoring of validators. JPool uses the Solana Foundation’s stake pool program for all operations with the funds. The current APY is at 6.96%, with 5% epoch fees.
StaFi is a multi-chain liquid staking protocol that is available on the Ethereum, Polygon, BSC, Cosmos, Polkadot and Solana blockchains. Its main focus is to reconcile the traditional trade-off between mainnet security and token liquidity inherent in PoS consensus.
The platform is very strict in terms of security, so it conducts regular security audits through reputable auditing firms. It also has a vibrant security response system in place, in case anything goes wrong.
The platform is also regulated by the community and the core team who make governance decisions on developing the pool. It currently offers 5.72% APY, and charges 10% commission on staking rewards.
Solana staking can be profitable if you use the right staking pool. Hopefully you have found a suitable pool here and will start staking soon.