Crypto Wallet Phantom Offers Solana Staking

Phantom, a multi-chain crypto wallet and browser extension for managing digital assets and accessing Web3 dApps, now offers staking for Solana’s native token, SOL. SOL holders can stake with all available Solana validators directly through the Phantom wallet interface.

On Solana’s proof-of-stake network, validators are responsible for processing new incoming transactions and for voting on and adding new blocks to the blockchain. SOL holders can participate in the network and earn rewards by delegating their tokens to stake with validators who run, maintain and secure the high-speed blockchain. Validators with more stake are chosen to write new transactions to the ledger and pass on more rewards to delegators for helping keep the network. According to Solana Beach Solana’s 840 validators have executed more than 22 billion transactions to date.

“The launch of the new staking feature on Phantom marks a major milestone on our roadmap to bring the simplest and most secure experience for anyone to interact with blockchain-based applications,” said Brandon Millman, CEO and co-founder of Phantom. “Our inaugural support for the Solana ecosystem is demonstrative of the UI and UX we want to deliver to users across Web3 blockchains.”

Phantom unlocks access to dozens Solana dApps and platforms, including popular decentralized exchange Raydium, sneaker NFT marketplace CryptoKickers, and blockchain game Star Atlas.

“Phantom is delivering one of the best wallet experiences for Solana users,” said Anatoly Yakovenko, CEO of Solana Labs. “Beyond its sleek interface, I believe that the latest addition of enabling SOL holders an easy way to participate in the network has the potential to increase overall activity and contribute to the continuing decentralization of the Solana Network.”

Millman and Phantom cofounder and CPO Chris Kalani, have begun waitlisting access to the beta version of its wallet with Ethereum support.

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