Solana

Last updated: Aug 20 2021

Protocol teams occasionally change the delegation / staking process. If the following instructions do not work, please email support@bisontrails.co for assistance.


Solana is a fast, secure, and scalable blockchain network for distributed apps, marketplaces, and enterprise applications.

By encoding the passage of time as data, Proof of History (PoH) provides a sense of trustless time and message ordering before consensus, reducing messaging overhead between nodes in the network and enabling greater overall scalability.

Minimum Tokens to Delegate

1 SOL

Warm Up Period

2 days

Unbonding Period

2 days

Service Fee

8% of rewards

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Bison Trails’ Validator Identity


XkCriyrNwS3G4rzAXtG5B1nnvb5Ka1JtCku93VqeKAr

Bison Trails’ Validator Vote Account Address


beefKGBWeSpHzYBHZXwp5So7wdQGX6mu4ZHCsH3uTar

Delegation Instructions

Important:

Fake URLs impersonating the secure wallets and UIs used to delegate are circulating on the internet. Always confirm you are using the exact sites we link to here:

  • https://phantom.app/download
  • https://solflare.com/
  • https://docs.solana.com/cli/delegate-stake
  • https://support.ledger.com/hc/en-us/articles/360016265659-Solana-SOL-

Currently, staking is available on the browser-based Phantom wallet, or on SolFlare with a Keystore File or Ledger Nano S or X hardware wallet device.

In addition, staking is available using any wallet that interacts with Solana command line tools. Before you begin with the CLI, please be sure you have created a stake account (different than a wallet address) in a supported wallet. If you need help creating a stake account, follow this guide.

Using Phantom

Note: Phantom is available as a browser extension for the Chrome, Brave, Firefox, or Edge browsers. If you have already created and funded your Phantom Wallet, please skip to Step Four. If you need to create and fund a Phantom wallet, start at Step One.

STEP ONE: Install Phantom wallet extension

  1. Navigate to https://phantom.app/download
  2. Follow the on-screen prompts to install the extension on your preferred browser

STEP TWO: Set up your wallet

  1. Open the Phantom wallet extension and select Create new Wallet
  2. Copy your secret recovery phrase and save it somewhere safe
    Note: ensure that you store your recovery phrase somewhere safe where it cannot be lost or compromised. Your recovery phrase is the master key to your wallet; loss or compromise of your seed phrase may result in permanent loss of your SOL.
  3. Follow the on-screen prompts to create a secure password and view terms of service

STEP THREE: Deposit SOL

  1. Open the Phantom browser extension and select Receive
  2. Select Send from wallet/exchange, or your preferred method, and copy the wallet address or QR code that appears
  3. Send your SOL from where it was purchased to the wallet address copied above.
  4. Your SOL balance should now show at the top of the Phantom wallet extension when opened.

STEP FOUR: Delegate your SOL with Bison Trails

  1. Click on your Solana balance in the token list in the Phantom browser extension
  2. Select Start earning SOL
  3. Search for Bison Trails in the search bar of the validator selection screen and select the Bison Trails validator
  4. Enter the amount of SOL you would like to delegate and select Stake

Congratulations! You are now delegating to the Bison Trails validator.

Using a Ledger S or X on SolFlare

Note: before beginning, you will need to have the Solana app installed on your Ledger S or X hardware wallet device and be using Chrome or an equivalent browser. If you do not have any SOL on your Ledger, start at Step One. If you already have SOL on your Ledger, proceed to Step Two.

STEP ONE: Connect Ledger to SolFlare and fund

  1. Plug in your Ledger, unlock it, and navigate to the Solana app within the Ledger manager
  2. Navigate to solflare.com and select Create a Wallet
  3. Select Next several times and then Get Started to navigate through the tutorial
  4. Select Using Ledger Nano S or X and click Access
  5. Click the Select derivation path dropdown and select the first option, Solana - 44'/501'/
  6. Select your Ledger device from the pop-up screen. If the UI gives you any errors, ensure your Ledger is unlocked and has the Solana app open.
  7. Select your Root Account and click Access
  8. Review the prompt on your Ledger. It should show your pubkey (public address) on the screen. Confirm your address is correct.
  9. Send SOL to your new Ledger address

STEP TWO: Delegate to Bison Trails

  1. Select Get Started
  2. Enter how many SOL you would like to delegate. Please leave at least 1 SOL on your account to pay for future transaction fees. Click Next. If you receive an error message, ensure your Ledger is unlocked and has the Solana app open.
  3. Confirm the creation of a new stake account for the correct amount of SOL
  4. Select Delegate Now
  5. Select the Bison Trails validator from the dropdown menu and click Next
  6. Review the delegation transaction prompt on your Ledger. Confirm that the Vote Account matches the Bison Trails vote account address:beefKGBWeSpHzYBHZXwp5So7wdQGX6mu4ZHCsH3uTar. Approve the transaction.

Congratulations! You are now delegating to the Bison Trails validator.

Using a Keystore File on SolFlare...

1. Create a Wallet

  1. Click Create a Wallet
  2. Select the “Using Keystore File” tab
  3. Click Next
  4. Create and enter your password twice. Be sure to save it somewhere safe offline.
  5. Click Next
  6. Download your Keystore File and put it somewhere secure. You will not be able to access your wallet without it.
  7. Click Next
  8. Upload your Keystore File to verify it has downloaded correctly.
  9. Click Finish

2. Access Your Wallet

  1. Click Access
  2. Enter your password
  3. Upload your Keystore File
  4. Click Access

3. Transfer SOL to your wallet

  1. Go to the account currently holding your SOL.
  2. Transfer SOL to your SolFlare wallet address which can be copied directly from the wallet interface.

4. Create a stake account

  1. Click Get Started at the bottom of the wallet interface.
  2. Enter the amount you want to stake. Do not put all of your SOL in the stake account as you will need to leave a small amount for transaction fees.
  3. Click Next
  4. Fill in your password

5. Delegate your SOL to Bison Trails' Validator Node

  1. Select the Staking Tab at the top of the SolFlare interface
  2. Click Delegate Now for your staking account
  3. Select Bison Trails’ validator (beefKGBWeSpHzYBHZXwp5So7wdQGX6mu4ZHCsH3uTar)
  4. Click Next
  5. Fill in your password
  6. Click Confirm
  7. Wait until a “Transaction complete!” message appears

Using Solana command line tools...

1. Delegate Your Sol to Our Validator Node

  1. Open your stake account on a supported wallet
  2. Use Bison Trails’ vote account address beefKGBWeSpHzYBHZXwp5So7wdQGX6mu4ZHCsH3uTar in solana delegate-stake

    solana delegate-stake --stake-authority <KEYPAIR> <STAKE_ACCOUNT_ADDRESS> <VOTE_ACCOUNT_ADDRESS> \

    --fee-payer <KEYPAIR>

2. View Your Delegation

  1. Use solana stake-account to see the changes in your stake account.

    solana stake-account <STAKE_ACCOUNT_ADDRESS>

Congratulations! You are now delegating to the Bison Trails validator.

Support

We are available to answer your questions 9am–6pm ET Monday-Friday. Please contact us: support@bisontrails.co



FAQ

Inflation was initiated at a rate of 8% in February 2021 and is expected to decline by 15% annually until reaching a steady state of 1.5%. The reward rate depends upon the staking rate on the network. You can view the current reward rate on the Solana block explorer.

As of Aug, 2020, Slashing is not currently enabled on Solana’s Mainnet Beta network but may be in the future.

When rewards are enabled, Bison Trails will charge a percentage service fee on all rewards earned by tokens delegated to our validator. The service fee is paid to Bison Trails automatically by the protocol. You can then withdraw your rewards from the protocol directly.

Interested in delegating on other protocols?

Have tokens on other networks? Learn more about delegating to our public validators on Celo, Cosmos, Edgeware, Kusama, Livepeer, Ontology, Polkadot, and more. We also offer dedicated participation clusters.


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THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY. PLEASE DO NOT CONSTRUE ANY SUCH INFORMATION OR OTHER MATERIAL CONTAINED IN THIS DOCUMENT AS LEGAL, TAX, INVESTMENT, FINANCIAL, OR OTHER ADVICE. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT A RECOMMENDATION OR ENDORSEMENT OF ANY DIGITAL ASSET, PROTOCOL, NETWORK OR PROJECT. HOWEVER, BISON TRAILS (INCLUDING ITS AFFILIATES AND/OR EMPLOYEES) MAY HAVE, OR MAY IN THE FUTURE HAVE, A SIGNIFICANT FINANCIAL INTEREST IN, AND MAY RECEIVE COMPENSATION FOR SERVICES RELATED TO, ONE OR MORE OF THE DIGITAL ASSETS, PROTOCOLS, NETWORKS, ENTITIES, PROJECTS AND/OR VENTURES DISCUSSED HEREIN.

THE RISK OF LOSS IN CRYPTOCURRENCY, INCLUDING STAKING, CAN BE SUBSTANTIAL AND NOTHING HEREIN IS INTENDED TO BE A GUARANTEE AGAINST THE POSSIBILITY OF LOSS. THIS DOCUMENT AND THE CONTENT CONTAINED HEREIN ARE BASED ON INFORMATION WHICH IS BELIEVED TO BE RELIABLE AND HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE BUT BISON TRAILS MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE FAIRNESS, ACCURACY, ADEQUACY, REASONABLENESS OR COMPLETENESS OF SUCH INFORMATION.

ANY USE OF BISON TRAILS’ SERVICES MAY BE CONTINGENT ON COMPLETION OF BISON TRAILS’ ONBOARDING PROCESS, INCLUDING ENTRANCE INTO APPLICABLE LEGAL DOCUMENTATION AND WILL BE, AT ALL TIMES, SUBJECT TO AND GOVERNED BY BISON TRAILS’ POLICIES, INCLUDING WITHOUT LIMITATION, ITS TERMS OF SERVICE AND PRIVACY POLICY, AS MAY BE AMENDED FROM TIME TO TIME.

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Questions?

Learn more about delegation in our guide to delegating digital assets.

If you have questions, or if you are interested in running a validator, please contact us. Our protocol specialists are happy to assist you.