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2021-07-23 22:00:00

Solana to Launch Stake Pools, This Is How It Will Enable Rewards For SOL Holders

The Solana Foundation has announced Stake Pools to increase the network’s security, promote censorship resistance, and rewards SOL holders in the process. The announcement was made via their official Twitter handle. The Stake Pool program was enabled via an on-chain governance process, as the Solana Foundation said. Any SOL holder can participate in the process via SolFlare, a non-custodial wallet that allows users to connect with this network. SOL token holders can earn rewards and help secure the network by staking tokens to one or more validators. Rewards for staked tokens are based on the current inflation rate, total number of SOL staked on the network, and an individual validator’s uptime and commission (fee). The program was launched to increase the network ability to withstand disruption or attacks, the Solana Foundation said. This capacity is partially measured by looking at the “superminority”, the smallest number of validators capable of launching a successful attack. Thus, the Stake Pools operate as incentives for the users to place their SOL funds between independent validators, the announcement clarified. As the stake distribution increase, so does the network’s security. Solana is already one of the most censorship resistant networks (our superminority group is currently 16), but the Solana Foundation can do even more to increase stake distribution. How To Earn Rewards While Securin...

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