How to contribute to Solana (SOL) - CoolWallet

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What is Solana Staking?

Solana staking is a mechanism that allows you to assign the network’s original token, SOL, to blockchain validators to support network operations, help validate transactions, and earn staking rewards.

Solana uses a Proof of Stake (PoS) consensus mechanism. By embedding SOL with validators, token holders contribute to transaction validation and block production, which in turn improves the security and decentralization of the Solana network.

Why SOL SOL with CoolWallet

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Benefits of Staking SOL with CoolWallet

Staking SOL with CoolWallet not only allows you to earn stable rewards, but also provides security and convenience.

Self control: CoolWallet is a self-managed wallet. You don’t need to rely on centralized platforms that give you full control over your assets.
High level security: With CoolWallet Pro or CoolWallet Go wallets, your private keys are stored securely on the card chip and are never exposed, ensuring maximum security.
Instant rewards: SOL rewards are accumulated automatically and you can check your updated balance anytime.
Mobile convenience: Using the CoolWallet App, you can easily earn, redeem and track rewards anytime, anywhere with an intuitive user experience.
Flexible body: Freely choose different validators to adjust your betting strategy and diversify your risks.

Instructions

Maintenance instructions

Each share is counted independently: In the SOL CoolWallet staking mechanism, each new stake is processed separately. This includes award accruals, cancellations and other actions. Regardless of which validator you choose, each contribution is treated as an independent unit.
Rewards are automatically added to your principal amount: In the CoolWallet app, you can view the total rewards accumulated from all your SOL shares or the details of individual shares via SOLSCAN (blockchain researcher for Solana). When you lose a bet and make a withdrawal, both your rewards and the principal amount are returned together.
Earning and claiming rewards are separate steps: Claiming and claiming rewards must be done individually. You must first start the Unstake, then wait for the unlocking period to finish (usually around 2-3 days, although in some cases it can be extended to 5-6 days if the block production is delayed). You can then perform a Withdrawal action to claim both your base and accumulated rewards at the same time.

How to add a new contribution

Step 1. Open the CoolWallet app and go to it Wallet → To get → YEAR log in to YEAR Contribution management page

Open the CoolWallet app and go to Wallet → Earn → SOL to enter the SOL Manage Stakes page.

Step 2. Touch contributionthen select the Solana address and validator you want to use.

Click Stake, then select the Solana address and validator you want to use.

Step 3. Select your validator and enter the SOL amount you want to contribute, then click Continue.
Make sure that the balance of your wallet more than 0.001 SOL to cover network transaction fees and SOL account rental.

Select your validator and enter the SOL amount you wish to contribute, then click Continue.

Step 4. Carefully review the details of the transaction, then complete the verification (CoolWallet Pro or CoolWallet Go users must have their cold wallet card ready for signature).
A small amount of rent is included in the staking amount, but after you withdraw from the stake and withdraw, it is returned to your wallet along with the accumulated assets and rewards.
Once the transaction is confirmed, your SOL will be successfully deposited and start generating rewards

Review the transaction details carefully, then complete the checkout

How to Check Staking Status

After a successful stake, you can view all your SOL staking records Contribution management page
Once the rewards start accumulating, you can see your accumulated rewards directly below To get table in Wallet page
To check the reward details for a specific contribution, go here Contribution management page, tap Check out the rewards for this entry, and you will be redirected to it SOLSCAN for full award information.

After a successful contribution, you can view all your SOL records on the Manage Contributions page.

How to quit

Step 1. In Contribution management page, tap Cancellation request and select the share you want to free.

Step 2. Review the transaction details and then complete the verification (CoolWallet Pro or CoolWallet Go users must have their ColdWallet card ready for signature).
After confirmation, the cancellation request will be submitted. Then you have to wait until the end of the unlocking period (usually about 2-3 days or up to 5-6 days if the production of the block is delayed).

Step 3. After the extraction is complete, your SOL status will change sequentially: “Stacking” → “Elimination in progress” → “inactive.”

When the situation is shown “inactive»you can touch Recall.

Step 4. Select the amount you want to withdraw, then complete the reward withdrawal check (CoolWallet Pro or CoolWallet Go users will have their cold wallet card ready for signing).

Once the transaction is confirmed, your assets and accumulated rewards are automatically transferred back to your SOL wallet address and available for use.

Questions

Question 1: Can I transfer my SOL once I get it?

No. The embedded part cannot be moved. You must unlock it first and wait for the unlock period to expire before SOL is available again.

Question 2: What is the minimum contribution for SOL?

You only need to contribute 0.01 SOL to start participating and getting rewarded.

Question 3: Can I remove my SOL at any time?

Yes, you can. However, you must wait for the opening period (usually about 2-3 days) before you can withdraw your SOL.

Question 4: When will the prizes be distributed?

Staking rewards are earned from the next period after staking starts. Each round lasts about 2-3 days and rewards are distributed at the end of each round. The first reward is usually distributed 4-6 days after your contribution. After that, rewards are distributed every 2-3 days.

Question 5: Are bonuses collected automatically?

Yes. At the start of each new period, the rewards from the previous period are automatically added to your base and continue to generate compound rewards.

Question 6: How are staking rewards calculated?

According to Solana’s operating protocol, the amount of stake rewards depends on several conditions, such as the percentage of SOL to chian, the inflation rate, the performance of the validator and the closing time. The validator receives a portion of the total reward and the rest is distributed to shareholders as an incentive in proportion to the amount surrendered.

Question 7: Are there any additional fees when placing a bet?

When you contribute, a small amount of SOL is locked as rent, but after you lose the account and withdraw, it is returned to your wallet. Additionally, each transaction requires a small network fee. We recommend keeping it to a minimum 0.001 YEARS in your wallet to cover these fees.

Question 8: Which validators can I choose?

Currently, CoolWallet supports staking with Everstake and Figment, both well-known providers of professional validator services with strong track records of reliable performance. You can choose between them according to your needs.