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How to stake
At the moment, users can connect to Saros Finance via Coin98 Extension.
Because SarosStake is a single-staking platform on Solana, you must own a Solana Wallet to use it.
After Coin98 Extension is downloaded or updated, you can follow the instructions below to create a Solana Wallet (SOL&SPL) or restore Solana wallets from other platforms to Coin98 Extension:
It should be noted that Saros Finance is on the Solana chain, which means that you can only stake tokens in SPL standard.
SarosStake uses SOL (SPL standard) as transaction fees; therefore, you should prepare SOL before any transaction on Saros.
If you already installed Coin98 Extension, Coin98 Extension will automatically connect to the corresponding Solana Wallet.
Step 1: On the Active tab, choose your desired pool -> Click Stake. This tutorial will take the SNTR pool as an example.
Note: You must read the information carefully before staking:
- APR (Annual Percentage Rate): Annual rate of return without considering compound interest.
Notice: Yield farming can give high APYs/ APRs rewards, but it comes with a risk of Impermanent Loss. It is not as scary as it sounds, but it is worth learning about the concept before you get started. Check out this great article about Impermanent Loss from Binance Academy to learn more.
- Earn: The token reward you will earn from staking in the pool.
- End at block: Once the pool has reached that block, the rewards for that pool will stop being distributed.
- Liquidity: Total liquidity currently deposited in the pool.
Step 3: Select the amount of token you want to stake, check the gas fee -> Click Stake Now.
Step 4: Wait a few minutes for the system to process. After processing successfully, the system will display a notification and your staked tokens will be shown as below.
- The rewards will be real-time updated, you can harvest anytime by clicking “Harvest”.
- You can stake more tokens by clicking the “+” button.
- Otherwise, you can unstake your tokens by clicking the “-” button.