Introduction
Staking Sommelier can be a great option for those who want to hold SOMM while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.
Step-by-Step Guide
1. Obtain Sommelier (SOMM) Tokens
To stake Sommelier, you need to own it. To obtain Sommelier, you'll need to buy it. You can choose from these popular exchanges.
See all 4 pricesPlatform Coin Cost CoinEx Sommelier (SOMM) 0 Gate.io Sommelier (SOMM) 0.000991 2. Choose a Sommelier Wallet
Once you have SOMM, you'll need to choose a Sommelier wallet to store your tokens. Here are some great options.
View all 4 staking rewardsPlatform Coin Staking returns Everstake Sommelier (SOMM) Up to 2.66% % p.a. Stakewolle Sommelier (SOMM) Up to 10.3% % p.a. 3. Delegate Your SOMM
We recommend using a staking pool when staking SOMM. It's simpler and quicker to get started. A staking pool is a group of validators who combine their SOMM, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Begin Validation
You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Sommelier network. You'll be rewarded with SOMM for these validations.
What to Be Aware Of
There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.
Latest Movements
missing en-au translation: common.latest-movements-copy
- Market capitalisation
- USDĀ 4.53M
- 24-hour volume
- USDĀ 7,002.83
- Circulating supply
- 310.79M SOMM
