SOL Staking

The Coinbase Staking API enables users to stake or unstake any amount of SOL. A user only needs to specify a wallet and a stake amount, and the API will handle the rest.

See the quickstart to familiarize yourself with Coinbase Staking API and basic usage.

The API automatically creates and manages the underlying Solana stake accounts on your behalf. The staking rewards automatically accrue on the derives stake accounts, which can be claimed in the two-step process of unstaking and claiming rewards.

Currently, SOL staking only supports external address used with the Coinbase Staking API specifically. Coinbase App addresses and Coinbase Prime addresses are not supported.

Stake

Before staking, ensure that your address contains enough SOL to cover the stake amount and network fees. For devnet funds, you can use this faucet.

The amount of SOL that is ultimately staked will be the user input subtracted by the rent reserve amount. The rent reserve amount is a Solana-mandated account minimum. So if the user input is 1 SOL and the rent reserve is 0.02 SOL, the amount that will ultimately be staked is ~0.98 SOL. Without this rent adjustment, the stake wouldn’t become active.

We currently only support delegating to the Coinbase public validator 6D2jqw9hyVCpppZexquxa74Fn33rJzzBx38T58VucHx9. This validator is operated by Coinbase and is located in Ireland.

Step 1. Create a Stake Operation

Typescript

import { Coinbase, ExternalAddress } from "@coinbase/coinbase-sdk";

// Create a new external address on the solana-devnet testnet network.
let address = new ExternalAddress(Coinbase.networks.SolanaDevnet, "YOUR_WALLET_ADDRESS");

// Find out how much SOL is available to stake.
let stakeableBalance = await address.stakeableBalance(Coinbase.assets.Sol);

// Build a stake operation for an amount <= stakeableBalance, in this case 0.1 SOL.
let stakingOperation = await address.buildStakeOperation(0.1, Coinbase.assets.Sol);

Refer to the ExternalAddress docs for a full list of supported methods.

Step 2. Sign and Broadcast

Once the unstake operation has been built, the transaction has been constructed based on your inputs, but not signed or broadcasted. Now, you must relay the transactions to your end-user for signing and broadcasting.

If you’d like to sign and broadcast in your own system, refer to the signing and broadcasting transactions section for an example.

Step 3. Wait

Once the transaction is signed and broadcasted, the SOL will be “pending staked” for ~2 days. This delay is a direct consequence of the Solana network’s staking mechanics. After this period, the SOL will be staked and begin to earn rewards.

You can tell your SOL is fully staked and earning rewards by checking for when your SOL is added to the unstakeable balance.

Unstake

Unstaking is the first part of a two-step process to withdraw your staked assets. The second step is Claim Stake.

In direct Solana staking, a user would need to select a specific stake account and unstake each stake account individually. With the Coinbase Staking API, the user can simply specify the wallet and the desired unstake amount, and the API will handle the rest. The Coinbase Staking API hides this complexity by automatically creating, merging, and splitting the underlying Solana stake accounts for you. All a user must do is sign and broadcast the transactions and the API will handle the rest.

Step 1. Create a Stake Operation

Typescript

import { Coinbase, ExternalAddress } from "@coinbase/coinbase-sdk";

// Create a new external address on the solana-devnet testnet network.
let address = new ExternalAddress(Coinbase.networks.SolanaDevnet, "YOUR_WALLET_ADDRESS");

// To determine the amount of SOL available to unstake, use the `unstakeableBalance` method as shown below:
let unstakeableBalance = await address.unstakeableBalance(Coinbase.assets.Sol);

// Build an unstake operation for an amount <= unstakeableBalance, in this case 0.1 SOL.
let stakingOperation = await address.buildUnstakeOperation(0.1, Coinbase.assets.Sol);

Refer to the ExternalAddress docs for a full list of supported methods.

Step 2. Sign and Broadcast

Once the unstake operation has been built, the transaction has been constructed based on your inputs, but not signed or broadcasted. Now, you must relay the transactions to your end-user for signing and broadcasting.

If you’d like to sign and broadcast in your own system, refer to the signing and broadcasting transactions section for an example.

Step 3. Wait

After the transaction is signed and broadcasted, the SOL will be “pending unstaked” for ~2 days. This delay is a direct consequence of the Solana network’s staking mechanics. After the SOL in unstaked, the SOL will be in a claimable state and can be claimed using the Claim Stake operation.

Claim Stake

Claim Stake is the second part of a two-step process to withdraw your staked assets. The first step is Unstake.

After SOL is unstaked and the necessary time has passed (~2 days), the unstaked SOL will be sitting idle on the underlying stake account. This SOL is ready to be claimed. The claim stake operation allows you to claim the unstaked SOL and transfer it back to your wallet.

Step 1. Create a Stake Operation

Typescript

import { Coinbase, ExternalAddress } from "@coinbase/coinbase-sdk";

// Create a new external address on the solana-devnet testnet network.
let address = new ExternalAddress(Coinbase.networks.SolanaDevnet, "YOUR_WALLET_ADDRESS");

// Check if there is any balance available to claim.
let claimableBalance = await address.unstakeableBalance(Coinbase.assets.Sol);

// Build a claim_stake operation for an amount = claimableBalance.
// The claim stake operation aims to claim all the withdrawable SOL at that point in time.
let stakingOperation = await address.buildClaimStakeOperation(claimableBalance, Coinbase.assets.Sol);

Refer to the ExternalAddress docs for a full list of supported methods.

Step 2. Sign and Broadcast

Once the claim operation has been built, the transaction has been constructed based on your inputs, but not signed or broadcasted. Now, you must relay the transactions to your end-user for signing and broadcasting.

If you’d like to sign and broadcast in your own system, refer to the signing and broadcasting transactions section for an example.

After the transaction is signed and broadcasted, the SOL will be transferred back to your wallet almost immediately. At this stage, the full SOL staking lifecycle is complete.

View Staking Rewards

After staking your SOL, rewards will begin to accrue on the blockchain that are withdrawable by your wallet. The staking rewards endpoint allows you to view these rewards earned by your wallet over time.

Viewing historical rewards earned to Solana stake accounts that have dropped below the rent reserve are currently not supported. This means that the endpoint might not show all rewards that were earned in the past. This is a known limitation that will be addressed in a future release.

The API provides rewards both in native units (i.e. SOL) and in equivalent USD value. The USD value is calculated using the Coinbase exchange rate in the ~30 seconds after the reward period concluded. As an example, if we provide aggregated rewards on January 20th, 2024 UTC, the underlying SOL value is calculated based on the USD value of SOL within the first 30 seconds of January 21st, 2024.

Typescript

Look up staking rewards for a specific address.

import { Coinbase, ExternalAddress } from "@coinbase/coinbase-sdk";

// Create a new external address on the solana-mainnet network for which you want to view staking rewards.
let address = new ExternalAddress(Coinbase.networks.SolanaMainnet, "YOUR_WALLET_ADDRESS");

// Get the rewards earned from staking in the last 1 week (default window).
// Note that it can take several hours for new rewards to show up.
let rewards = await address.stakingRewards(Coinbase.assets.Sol);

// Loop through the rewards and print each staking reward.
rewards.forEach(reward => console.log(reward.toString()));

Look up staking rewards for a list of addresses.

import { Coinbase, StakingReward } from "@coinbase/coinbase-sdk";

let rewards = await StakingReward.list(
    Coinbase.networks.SolanaMainnet, Coinbase.assets.Sol,
    ["ADDRESS1", "ADDRESS2"],
    tenDaysAgo.toISOString(), now.toISOString(),
);

// Loop through the rewards and print each staking reward.
rewards.forEach(reward => console.log(reward.toString()));

View the USD value of rewards including conversion price and time.

// Loop through the rewards and print each staking reward's USD conversion information
rewards.forEach(reward => {
    console.log(
        `USD value: ${reward.usdValue()},
        Conversion price: ${reward.conversionPrice().toString()},
        Conversion time: ${reward.conversionTime().toISOString()}`,
    );
});

Refer to the StakingReward docs for a full list of supported methods and their parameters.

View Historical Staking Balances

The staking balances endpoint allows you to view the historical staking balances of your wallet over time, accounting for accruing rewards and auto-compounding stake.

Typescript

Look up historical staking balances for a specific address.

const balances = await StakingBalance.list(
    NetworkIdentifier.SolanaMainnet,
    Coinbase.assets.Sol,
    wallet,
    startTime,
    new Date().toISOString(),
);

Refer to the StakingBalance docs for a full list of supported methods and their parameters.

Signing and Broadcasting Transactions

Here’s an example of how to sign and broadcast transactions surfaced via the staking operation resource.

Typescript

import { Connection, Transaction, Keypair, SendOptions } from "@solana/web3.js";
import bs58 from "bs58";

const connection = new Connection("https://api.devnet.solana.com");
const secretKey = Uint8Array.from(bs58.decode("YOUR_WALLET_PRIVATE_KEY"));
const key = Keypair.fromSecretKey(secretKey);

// This code assumes a solana stakingOperation has already been created.

for (const tx of stakingOperation.getTransactions()) {
    console.log("Tx unsigned payload:", tx.getUnsignedPayload());

    const transaction = Transaction.from(bs58.decode(tx.getUnsignedPayload()));

    transaction.partialSign(key);

    const sendOptions: SendOptions = {
        skipPreflight: false,
        preflightCommitment: "finalized",
    };

    let maxRetries = 20;

    while (maxRetries > 0) {
        try {
            const signature = await connection.sendRawTransaction(transaction.serialize(), sendOptions);
            console.log("Transaction signature:", getTxLink(signature, networkID));
            break;
        } catch (error) {
            await new Promise(resolve => setTimeout(resolve, 3000));
            console.error(`Trying again [%d] Sending transaction...`, 21 - maxRetries);
            maxRetries--;
        }
    }
}

function getTxLink(signature: string, networkID: string): string {
    const baseUrl = "https://explorer.solana.com/tx";

    let network = "mainnet";
    if (networkID === Coinbase.networks.SolanaDevnet) {
        network = "devnet";
    }

    return `${baseUrl}/${signature}?cluster=${network}`;
}