What is Solana?
Solana is the fastest decentralized blockchain in the world and was made to create user-friendly apps for the world. Solana currently offers the fastest-growing ecosystem with over 400 projects such as DeFi, Web3, or NFTs.
Can Solana be mined?
No, Solana cannot be minted as a proof-of-stake coin. But Solana offers other possibilities to get coins.
The first option is stacking. You can stack your Solana coins at a validator to get interest earnings.
The second way is to become a validator. Validators get a commission on all the rewards that people who stack with you get.
Why stack Solana?
Solana offers decent interest returns like on the Binance platform. On the Binance platform, Stackers currently receive up to 9.9% with a lock-up period of 60 days
This can be a good alternative to generate a passive income that traditional bank accounts no longer offer.
The initial inflation rate is 8% after the introduction of the coins. The rate of issuance of tokens can only decrease from this amount. The disinflation rate is -15%. This is the annual rate by which inflation is reduced. The stable long-term inflation is put at 1.5%.
Where can I stack my Solana?
- Binance Exchange. On the Binance platform, there are currently two ways to stack your Solana, depending on the lock-in period. Either 30 days for 9.2% APY or 60 days for 9.9% APY.
- Atomic Wallet. Atomic Wallet seems to reward stacking with an APY of about 7%.
- Exodus. Exodus rewards Solana stacking with 6.69% APY.
- Solflare. Solflare Wallet currently offers 7.25% APY for stacking Solana.