We are proud to announce that we are launching our very own Solana validator, powered by Triton, making us the first Digital Fine Art Marketplace to operate a node on this chain.
Why are we doing this?
Our goal is to create a way for artists and collectors to earn rewards, contribute to the security of the network and protect the provenance of their artworks. To do this, we'll use the commissions we earn to reinvest in the artist and collector community through education programs, grants, and in-person artist events. This will help support and nurture the creative talents of our community.
Stay tuned for announcements about extra perks for stakers!
What does staking mean, though?
Solana is a Proof-of-Stake blockchain, which means that holders of SOL can earn a percentage of their holdings by staking it with a validator.
When you stake with the Exchange.Art validator, your SOL stays under your control at all times. Your SOL is held in a staking wallet that is paired with your private key, and it's delegated to a validator from there. The Exchange.Art validator never has access to your SOL, so you can rest assured that it's safe and secure.
By doing this, you support your validator of choice and give them a small share of the rewards they generate. The actual APY for Solana staking depends on various factors, but it typically ranges from 6% to 8%.
That sounds great, how do I stake?
It's really simple!
1. Open your Wallet & Select Solana
2. Click “Start Earning SOL”
3. Search Exchange and select
4. Choose Amount to stake