Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: Metha Wulandarin on July 22, 2024, 04:45:40 PM
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(https://i.postimg.cc/1XSPpqDx/IMG-20240722-204624.jpg) (https://postimages.org/)
This is one of the deals offered by Phantom wallets with a hefty APY.
There are two options here
1- Can stake with JitoSOL tokens with 8% APY
2- Can directly use SOL tokens but the APY is lower than the first one.
Maybe here anyone is interested in the offer given by Phantom And this can be an alternative way to increase our income and profits.
I am here only sharing information not an invitation to buy or sell, please make your own choice.
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I don’t think I have seen this type of Offer by Phantom Wallet Although I use it for different things like joining and connecting different wallets to a Service like Kamino or Jupiter.
it really looks interesting, and I think if you could take advantage of that it would be a positive result for you.
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Stake SOL to help Solana scale? What? ;D
Anyway, just reminder to everyone planning to use staking features offered by these wallets that authorities are starting to take notice of these services. In case you're not aware, US SEC sued Consensys over Metamask staking (https://www.coindesk.com/policy/2024/06/28/sec-sues-consensys-over-metamask-staking-broker-allegations/). It would not come as a surprise if developers behind Phantom wallet will get the same treatment.
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It would not come as a surprise if developers behind Phantom wallet will get the same treatment.
The SEC has been actively looking for violations by some staking services related to securities coins (by their definition). The tokens mentioned in the OP's first point might fit the criteria, considering the cases of consensys and metamask. They are in the context of providing staking liquidity that offers a new product in exchange for a certain amount of SOL locked in a pool.
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I think too small with reward staking around 8% APY looking for bigger risk with coins take price decreasing more than 8% and waiting for almost one year. Seems not recommended when staking coins APY reward very small and we must recovery or back up later if price drastically dump. Right now stable coins price not stable yet and offering 8% APY still not excited and the same when staking Solana coin have faster price movement up and down.
If you are interested with staking coins better looking for higher APY reward and must take possibility unlock any time protecting if price get drastically decreasing.
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I think too small with reward staking around 8% APY looking for bigger risk with coins take price decreasing more than 8% and waiting for almost one year. Seems not recommended when staking coins APY reward very small and we must recovery or back up later if price drastically dump. Right now stable coins price not stable yet and offering 8% APY still not excited and the same when staking Solana coin have faster price movement up and down.
If you are interested with staking coins better looking for higher APY reward and must take possibility unlock any time protecting if price get drastically decreasing.
Finding APY that is more than 10% without any special conditions is very difficult.
One of the advantages of staking in Solana is that we can release the bet at any time, no need to wait a long time like we do staking on the IBC network which has to wait a few days for the balance to be available in our wallet.
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Finding APY that is more than 10% without any special conditions is very difficult.
One of the advantages of staking in Solana is that we can release the bet at any time, no need to wait a long time like we do staking on the IBC network which has to wait a few days for the balance to be available in our wallet.
Yeah, SOL holders tend to invest for the long term and don't care about short-term fluctuations in SOL price. 8% is just the extra profit they want to get while holding SOL, since no one would refuse to have more tokens in their account.
Traders don't like staking because they always want their investment to be managed by stop-loss and take-profit. They have their own criteria to survive and make profits in the market. If they have an effective trading method, they can definitely generate more than 8% profit per year, but this is not the majority.
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Finding APY that is more than 10% without any special conditions is very difficult.
One of the advantages of staking in Solana is that we can release the bet at any time, no need to wait a long time like we do staking on the IBC network which has to wait a few days for the balance to be available in our wallet.
Good offering with solana coin staking can release any time because some coins need waiting 24 four hours unlocking process or exchange market staking offer take two days later. But comparison with how big risk and price dropping few percent our profitable over when staking coins indeed Solana or other coins with small APY reward.
You can stake your coins if hold on position because investing at higher price and hold it trough staking, back up your loss by staking but if want buy coins and tries to stake seems risk behind in the future can't guarantee that coins keep on higher price.
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Personally, I would stay away from using any wallet that gives an investment opportunity other than what can be achieved through the protocol (PoS as an example), as the wallet should focus on the security and privacy aspects and leave investments to crypto exchange. Mixing these two concepts may be good for beginners, but the end result may be losing all your investments.
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Personally, I would stay away from using any wallet that gives an investment opportunity other than what can be achieved through the protocol (PoS as an example), as the wallet should focus on the security and privacy aspects and leave investments to crypto exchange. Mixing these two concepts may be good for beginners, but the end result may be losing all your investments.
So far I haven't heard any bad news about phantom's personal wallets, but Solflare has had a few losses and it's safe to say that the security level is low.
Staking does not always have to use your personal wallet but can also use the services of crypto exchanges, back to each of your trust and confidence.
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This is one of the deals offered by Phantom wallets with a hefty APY.
There are two options here
1- Can stake with JitoSOL tokens with 8% APY
2- Can directly use SOL tokens but the APY is lower than the first one.
You can just go directly to Jito's website and stake yourself. No need to use Phantom's own UI for that.
Also much better, you can even get the JitoSOL tokens and stake them on a lending platform (i.e Marginfi) for even more extra yield.
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This is one of the deals offered by Phantom wallets with a hefty APY.
There are two options here
1- Can stake with JitoSOL tokens with 8% APY
2- Can directly use SOL tokens but the APY is lower than the first one.
You can just go directly to Jito's website and stake yourself. No need to use Phantom's own UI for that.
~snip~
Maybe it was offered by OP seeing the benefits provided by the Phantom wallet platform which can generate more than 8% APY, this might be what is interesting for OP to write this thread. For me, please go ahead and maybe this is still safe because I haven't received any bad news from Phantom wallet until now.
But for me personally, if I want to stake JitoSOL, it might be better to follow the path as you said because as far as I know, the main website of a project is the best and safest (as long as it is not infiltrated by malware). If you stake coins using a third party, there will definitely be drama and this is what we must avoid in this crypto before our assets are lost.
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So far I haven't heard any bad news about phantom's personal wallets, but Solflare has had a few losses and it's safe to say that the security level is low.
Staking does not always have to use your personal wallet but can also use the services of crypto exchanges, back to each of your trust and confidence.
Yes, there are actually more options, especially Staking on Exchanges, but of course with different APY amounts.
Many exchanges provide staking features to make holders more profitable, but some hardware wallets also have staking features and are certainly better than Phantom wallets.
For JitoSOL staking offers on phantom, you can see how the mechanism is, if it is more profitable on the original website or safer than the original website by using a hardware wallet with a SOL wallet that can be connected to the Daaps Jito Network.