In this article, we will answer the most frequently asked questions about the Staking dApp that was developed by Alfprotocol!
Why should I stake my tokens instead of holding them in a wallet?
If your plan is to hold your tokens for a longer-term perspective, you can easily stake them to earn even more tokens after the staking period ends. This way, instead of having the same amount of tokens after a few months of holding, you can get additional tokens by staking them.
Can I withdraw my staked tokens?
After you stake your tokens, you will be able to withdraw them only after the staking period ends. At the end of the staking period, you will be able to withdraw your initial deposit + claim all pending rewards that you accumulated over the staked period.
Why my balance is unchanged after I staked and approved my transaction?
Such an event may occur if the Solana blockchain is congested. There is no need to worry, simply wait for a few minutes, and refresh the page. You should see the correct balance. Also, you can always check your transactions history on your wallet, to see if it's successful. If the transaction fails, your tokens won't be staked and they will become available on your wallet to use.
The Staking dApp is not working! What should I do?
If for any reason the Staking dApp is not working, you should immediately send us an email via [email protected] to let us know about the issue. Always include the screenshots for easier communication. Don't worry, the funds are safe on such occasions, and once we implement a fix, everything will be back to normal. dApp crashes and errors may occur if the Solana blockchain becomes congested, our servers providers crash or a similar chain of events occurs. Our developers team is always on standby to fix any potential issues!
We are a Solana-based project and we would like to open a staking pool with you. Who should we contact?
Please send your proposal via the email: [email protected] and our representative will reply as soon as possible!
Are token rewards compounded?
No, the rewards are not compounded. After the staked period ends, you will be able to claim your initial deposit + accumulated rewards.
Can I add to the existing staked position?
Yes, but keep in mind that your stake period will reset.
Why the rewards are calculated as APR and not APY?
The rewards from staking are being calculated as an APR (Anual Percentage Rate) because the rewards are not being compounded! At the end of the staking period, you will be able to claim all pending rewards + your initial deposit. Rewards do not compound that is why it's an APR, and not APY.
I'm getting a "Cannot stake. Try again later" error. What should I do?
Such error usually occurs if the Solana blockchain is congested and slow. The second most frequent cause of such error is if you do not have any SOL (Solana) tokens in your wallet to cover the transaction fees. We always recommend to have at least 0.1 SOL in your wallet to always have enough for transaction fees!
On my wallet, I see "Transaction may fail to confirm". What should I do?
This is only an informational message from the wallet app that the transaction may fail to confirm due to the network being congested. You can still try to approve the transaction, just keep in mind that you may need to try again if it fails.