Where to Stake Solana? 5 Best Platforms for Solana Staking

Marinade Finance is the leading platform in terms of automated staking. In the current DeFi market, the strategy of Solana staking which Marinada Finance follows, is unique from others. With Marinade, users can choose between classic and liquid staking. Marinade pools funds among more than 100 high-performing validators that are selected using a process that maximizes both performance and decentralization.

The annual percentage yield (APY) at Marinade Finance for staking is 7.83%. In recent times, the platform has received a huge attention from the users which can be easily seen through $1.5 billion total value locked (TVL) and 10,146,013 staked SOL.

Kraken, a top-tier cryptocurrency exchange, was launched in September 2013, and is widely recognized for its reliability and efficiency. It is trusted by millions of users across 190+ countries, being one of the user-friendly platforms for both newbies and experienced traders. With over 10 million customers, it’s definitely a good option for trading cryptocurrencies and staking Solana.

You can start trading on Kraken with just a small investment of $10 and can easily explore more than 200 cryptocurrencies. The annual percentage yield (APY) for Solana staking on Kraken is between 3-5%, in which payouts take place 1-2 times every week. There are no lock-up periods and you can stake more than 12 assets easily. Kraken offers yearly payouts of up to 26%.

Solflare is a popular non-custodial wallet which is used for interacting with the Solana blockchain. It has features such as support for Solana non-fungible tokens (NFTs) and direct staking of SOL coins. You can easily use it on mobile, web, or on browser through extension.

73.95 million staked accounts and $14,298,673,177 in value have been staked through Solflare, demonstrating the platform’s significant utilization. It demonstrates how important the platform is to the Solana ecosystem and how users are confident in its staking services.

The annual percentage return (APR) for Solana staking on OKX, a reputed cryptocurrency exchange platform is 6.82%. In Solana, the TVL of OKX is around $94.92 million because of the huge support to all the investors, where they can begin their investment or trade with the help of just 0.01 SOL.

Staking rewards are immediately distributed among the investors at the end of each period. This makes the complete earning process quick and simple and users don’t have to wait for a longer period of time to get the returns. Because of this feature, the staking experience for the users is hassle-free. There are multiple services being offered on the platform of OKX, but the trading services are highly appreciated by the users. It provides spot, futures, and margin trading.

Jito is a liquid staking platform on Solana where you can stake your coins and earn rewards. It’s all about maximizing the value you can get from your staked cryptocurrencies. 

To obtain JitoSOL, the procedure entails depositing SOL into the Jito pool. MEV-enabled validators are subsequently assigned to JitoSOL. The platform uses multi-layered security measures and advanced encryption techniques to protect user assets and provide ease during the staking process. Finally, it has an APY of 7.67% and a TVL of 10.4 million SOL.