This tutorial will guide you through the process of delegating (staking) Solana SOL coins using Ledger Live with your Ledger wallet. The staking feature is provided in partnership with Figment.
Important Notes
Withdrawal Issue: If you face issues with withdrawing Solana staking rewards, you may need to deactivate your stake first. Once deactivated, you can withdraw your rewards.
APY: The Annual Percentage Yield (APY) for staking with Ledger by Figment is based on the Solana network nominal yield minus a commission fee. You can view your estimated APY in the ‘Earn’ section of Ledger Live.
Before You Start
Install Ledger Live:
Download and install the latest version of Ledger Live on your computer or mobile device.
Update Firmware:
Connect your Ledger device to your computer or phone. Open Ledger Live and ensure your device is running the latest firmware version (Nano S / Nano S Plus / Nano X). Update if necessary.
Install Solana App:
Make sure you have the latest version of the Solana (SOL) app installed on your Ledger device. You need version 1.2.0 or above to stake.
Video Instructions
How to Delegate SOL Using Your Ledger Wallet in Ledger Live
Prepare Your Ledger Device:
Connect your Ledger device to your computer or phone and open the Solana app on your device. The display should read: Application is ready.
Add Solana Account in Ledger Live:
Open Ledger Live, navigate to the Accounts tab, and select +Add account.
Select Solana (SOL) and follow the onscreen instructions to add your Solana account.
Stake Your SOL:
In your Solana account, navigate to the Delegations section and click Stake at the top of your screen.
Select Ledger by Figment validator then click Continue. If you prefer a different validator, click Show all to select from additional options. Note that Ledger Live currently displays only the top 1000 validators. For the full list, consult Solscan Validator List.
Choose the amount of SOL you wish to delegate and click Continue.
Tip: Keep a minimum of 0.01 SOL in your available balance to cover transaction costs.
A prompt will appear on your Ledger device. Review and approve the transaction on your Ledger device.
Ledger Live will display: Broadcasting transaction… and then: You have successfully delegated your assets.
Next Steps
Reward Accrual:
It takes up to 3 days for a delegated SOL balance to become active and start earning rewards.
You will not see reward transactions in your transaction history; instead, rewards will accrue directly to your delegated balance.
Adding SOL to an Active Delegation:
The Solana blockchain does not allow adding SOL to an active delegated balance. Instead, you can create a new delegated balance by using the Add button or undelegate your current SOL stake and re-delegate with a higher amount.
Monitoring Staking Rewards:
Track your SOL rewards in Ledger Live using the Earn dashboard. Open Ledger Live, click on the Earn tab, and find your Solana (SOL) account in the list.
How to Undelegate SOL Using Your Ledger Wallet in Ledger Live
Navigate to Undelegate:
In Ledger Live, go to the Accounts tab and select your Solana account.
In the Delegations section, navigate to the delegated balance you wish to undelegate and click Manage > Deactivate.
Click Continue.
Approve the Transaction:
Your device will display: Deactivate stake. Approve the transaction on your Ledger device.
Ledger Live will show: You have successfully deactivated your delegation.
The status of your delegation will change to Deactivating.
How to Withdraw Inactive SOL Using Your Ledger Wallet in Ledger Live
Withdraw Inactive Balance:
In Ledger Live, navigate to your inactive balance, select Manage > Withdraw.
Choose the amount of SOL you wish to withdraw and click Continue.
Approve the transaction on your Ledger device.
Resolve Withdrawal Issues:
If you encounter an error message like ‘Sorry, insufficient funds’, it indicates a lack of SOL to cover transaction fees. Send a small amount of SOL to your Solana account and retry the withdrawal.
Once the transaction is confirmed, your SOL withdrawal and staking rewards will be credited back to your available balance.
“Fill out the form to send a request to the wallet’s customer service.”