This innovative approach allows you to earn $JitoSOL tokens.
Earn $JitoSOL Tokens with Staked $SOL
Here’s a step-by-step guide to get you started:
1) Open Phantom Wallet and Navigate to SOL Token Detail: Start by opening your Phantom Wallet and locating your $SOL token detail view. Then, look for the “Start earning SOL” button and click on it to initiate the staking process.
2) Choose Liquid Staking Method: Upon clicking, you’ll be presented with staking options. Opt for the “Liquid Staking” method, which enables you to stake your $SOL and receive $JitoSOL tokens.
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3) Modal Introduction to Liquid Staking with Jito: A modal window will appear introducing Liquid Staking with Jito. It highlights benefits such as higher average returns, the utility of $JitoSOL tokens, and enhanced decentralization. Then, click “Got it” to proceed.
4) Enter Staking Amount and Select Provider: Specify the amount of $SOL you wish to stake. You can stake all or a portion of your $SOL holdings. So, you need to choose Jito Staked $SOL as your provider. The interface will display the estimated Annual Percentage Yield (APY) and the amount of $JitoSOL tokens you will receive.
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5) Review and Confirm: Carefully review your staking order details, including the amount of $SOL being staked, the selected provider (Jito), estimated APY, and the network fee. If everything looks correct, click “Stake” to proceed with the transaction.
6) Confirm Transaction: Upon clicking “Stake,” confirm the transaction within Phantom Wallet. The staking process will commence, which may take a moment to complete.
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7) Transaction Success: After successfully processing the transaction, you will see a confirmation screen with a checkmark. This indicates that your $SOL has been staked with Jito, and you can view the transaction details for verification.
So, whether you’re new to staking or looking to explore liquid staking options, this guide will equip you with the necessary steps. It’s designed to help you begin your journey into decentralized finance on the Solana blockchain.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.