Where and How to Stake Smart Layer Network (SLN)

Introduction

Staking Smart Layer Network can be a great option for those who want to hold SLN 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.

Step-by-Step Guide

1. 1. Obtain Smart Layer Network (SLN) Tokens

   In order to stake Smart Layer Network, you need to have it. To obtain Smart Layer Network, you'll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Bitpanda	Smart Layer Network (SLN)	0.24
   Bitmart	Smart Layer Network (SLN)	0.22
   Kucoin	Smart Layer Network (SLN)	0.24
   Crypto.com	Smart Layer Network (SLN)	0.24

   See all 4 prices

2. 2. Choose a Smart Layer Network Wallet

   Once you have SLN, you’ll need to choose a Smart Layer Network wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Bitmart	Smart Layer Network (SLN)	Up to 1.00 APY

3. 3. Delegate Your SLN

   We recommend using a staking pool when staking SLN. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their SLN, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   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 Smart Layer Network network. You’ll be rewarded with SLN for these validations.

What to be Aware of

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.