Staking Process & Rewards Breakdown
Staking
Staking on Squirrel Swap allows users to lock up their $SQRL tokens in exchange for $SOL rewards. It’s a secure way to earn passive income while contributing to the platform’s growth.
How to Stake $SQRL Tokens
Connect Your Wallet
Before you can stake tokens, ensure that your Phantom wallet is connected to Squirrel Swap.
Navigate to the Staking Page
Once connected, go to the Staking section on the platform. Here, you’ll find options to stake your $SQRL tokens.
Choose Staking Pool
Select a staking pool that suits your preference. Some pools may offer higher rewards but come with additional risk, so it’s essential to review the available options.
Enter the Amount to Stake
Enter how much $SQRL you wish to stake. You can stake all or part of your $SQRL holdings.
Confirm Transaction
After entering the amount, your Phantom wallet will ask for confirmation. Confirm the transaction, and your tokens will be locked in the staking pool.
Earn $SOL Rewards
For every token you stake, you’ll receive rewards in the form of $SOL. These rewards are distributed based on the staking pool’s yield and your portion of the total staked amount.
Withdraw Staked Tokens
You can withdraw your staked tokens at any time. To do so, go back to the Staking page and click Unstake. Your tokens will be returned to your wallet after a confirmation transaction.
Reward Breakdown:
Staking rewards are primarily paid out in $SOL.
The longer you stake your tokens, the higher your potential rewards.
Reward amounts depend on factors like the total amount staked, the staking pool’s rewards, and the overall staking participation on Squirrel Swap.
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