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Steakwallet adds support for native SOL staking

Steakwallet users can now manage all of their Solana assets in one place and utilize a SOL staking experience that is second to none. Read on to learn more about Steakwallet's Solana integration. 👇

Steakwallet is a next generation multi-chain self-custodial Web 3 wallet on mobile. Our goal is to give users one place to manage all their assets across chains and make engaging with Web 3 as easy as never before. To achieve this, Steakwallet brings critical functionality natively into the app where we abstract away backend complexity and add market leading user experience. This includes Steakwallet’s signature 3-tap staking flows, which make participating in securing blockchain networks and earning yield as simple as ordering an Uber or a pizza. With our Explore Screen, Steakwallet allows you to find all the right dApps on any chain. With one simple tap via WalletConnect, you can now easily bridge, swap, and ape into any yield opportunity right from your phone. And with multi-chain NFT support, you can collect all of your favorite NFTs in one place and even set them as your background for to easily flex your collection.

Now this is what a Web 3 wallet should look like!

Steakwallet Features

  • Your Keys = Your Crypto

  • Multi-Chain By Default

  • Native Staking Flows

  • Discover the best of each chain on our Explore Screen

  • Best Rates

  • Mobile-First

Solana is a high-performance, open source blockchain that allows builders around the world to create decentralized applications with a focus on scale and speed. Solana is one of the new "Layer 1" blockchains aiming to make crypto networks faster and more scalable. Solana uses a combination of Proof-of-Stake (PoS) and a new mechanism called “Proof-of-History.”

Proof-of-History is designed to keep time between computers on a decentralized network without all the computers having to communicate about it and come to an agreement. Proof-of-History creates a historical record that proves that an event has occurred at a specific moment in time, which is different from most other blockchains in which block producers (validators) must communicate with each other to produce blocks and synchronize the state of the network. Solana side-steps this communication requirement and, therefore, can produce blocks much faster: the key to handling more transactions as the network scales. For a deep dive you can take a look at the Proof-of-History whitepaper.

While the idea and initial work on the Solana project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. With Solana’s hybrid protocol allowing for significantly decreased validation times for both transaction and smart contract execution, as well as cheaper fees – Solana managed to attracted a lot of interest from traders, builders and institutional investors alike, as Ethereum fees skyrocketed in 2021.

Steakwallet x Solana

Steakwallet supports all assets on Solana, as well as offering a dedicated Solana ecosystem page in the Explore Screen section of the wallet. This not only allows users to manage all their Solana based tokens, but also let's them explore the best dApps the ecosystem has to offer.

With the launch of the Steakwallet Beta, finding the right yield opportunities across chains has never been easier. In our new explore screen, users will be introduced to all the relevant DeFi opportunities and dApps. On Solana, this includes Essentials such as AllBridge to transfer assets over from Ethereum and other blockchains, NFT marketplaces like Magic Eden and Solanart, or AMMs like Saber and Raydium, but also more ways to earn than native SOL staking, such borrowing and lending via Port Finance.

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Steakwallet brings users native SOL staking

Steakwallet’s signature 3-click staking mechanism makes it as easy as possible for users to start earning yield on their assets. Users simply:

  1. Click Stake SOL

  2. Choose the amount to stake

  3. Confirm and earn!

By allowing anyone to stake in just a few tabs, Steakwallet helps users to provide better economic security for the Solana blockchain. Apart from earning rewards for participating in the network, staking your SOL helps secure the Proof-of-Stake Terra network and protects the ecosystem that is being build.

Stake your SOL on Steakwallet

Check out our guide here learn how to earn tasty yields through Steakwallet's simple three-click staking mechanism. 🍴 🥩

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