Earn up to
2.66% APY
An in-depth guide on how to stake Sommelier (SOMM)
We have a lot of data on staking Sommelier (SOMM) and we share some of this with you.
We show you some staking options with other coins that could be of interest.
Sommelier (SOMM) is currently priced at US$2.66 with a 24-hour trading volume of US$7,002.83. The market cap of Sommelier stands at US$4.53M, with 310.79M SOMM in circulation. For those looking to buy or trade Sommelier, Everstake offers avenues to do so securely and efficiently
Staking Sommelier can be a great option for those who want to hold SOMM but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
In order to stake Sommelier, you need to have it. To obtain Sommelier, you'll need to purchase it. You can choose from these popular exchanges.
| Platform | Coin | Price |
|---|---|---|
| CoinEx | Sommelier (SOMM) | 0 |
| Gate.io | Sommelier (SOMM) | 0.000991 |
Once you have SOMM, you’ll need to choose a Sommelier wallet to store your tokens. Here are some good options.
| Platform | Coin | Staking rewards |
|---|---|---|
| Everstake | Sommelier (SOMM) | Up to 2.66% APY |
| Stakewolle | Sommelier (SOMM) | Up to 10.3% APY |
We recommend using a staking pool when staking SOMM. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SOMM, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
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.
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
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