How to Stake Sommelier (SOMM) for better returns

Introduction

Staking Sommelier can be an excellent choice for individuals looking to hold SOMM while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-time users. That's why we have created this comprehensive guide to assist you.

Step-by-Step Guide

1. 1. Acquire Sommelier (SOMM) Tokens

   To stake Sommelier, you first need to acquire it. To obtain Sommelier, you can purchase it from these well-known exchanges.

   Platform	Coin	Price
   CoinEx	Sommelier (SOMM)	0 APY
   Gate.io	Sommelier (SOMM)	0.000991 APY

   View all 4 prices

2. 2. Select a Sommelier Wallet for Your Needs

   Once you have SOMM, you'll need to select a Sommelier wallet to securely store your tokens. Here are some excellent options to consider.

   Platform	Coin	Staking returns
   Everstake	Sommelier (SOMM)	Up to 2.66% APY
   Stakewolle	Sommelier (SOMM)	Up to 10.3% APY

   View all 4 staking rewards available

3. 3. Delegate Your SOMM for Enhanced Returns

   We recommend utilizing a staking pool when staking SOMM. It is more straightforward and quicker to get started. A staking pool consists of a collective of validators who pool their SOMM, enhancing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Begin Verification

   You will need to wait for your deposit to be confirmed by your wallet. Once it is confirmed, you will automatically validate transactions on the Sommelier network. For these validations, you will be rewarded with SOMM.

What to Consider in the Chinese Market

When engaging in transactions and participating in staking pools, it's important to factor in the associated fees. Additionally, there may be a waiting period before you begin to receive rewards. The staking pool must successfully generate blocks, which can require some time to accomplish.