How to Create an NFT Staking on Solana: free, no code, in 5 minutes
If you want to launch a Staking for your NFT Project on Solana, this post is for you. We’ll show you how to build your own fully customized Staking on Solana, without writing a single line of code, in just 5 minutes, and best of all: completely FREE.
We’ll jump straight into the step-by-step with a quick bit of theory along the way, but if you’d rather watch the video version, this one on how to create your Staking is for you.
What is an NFT staking on Solana
Before we get into the step-by-step, there are a couple of important points worth covering.
The Staking concept is similar to a “lock”. In other words, the mechanic prevents NFT holders from transferring their asset, taking it off the market (cutting supply), and in exchange those holders get a reward, usually a project token.
Benefits of NFT staking on Solana
Pretty much every project offers staking to its NFT Holders. The reason is simple: it works.
From the definition alone, you can see why staking is a smart move. But let’s highlight the following benefits you get from creating an NFT Staking.
- It’s a solid way to reward your holders
- NFT are non-transferable while staked
- Circulating supply on the market drops
- It’s standard across most projects
How much does it cost to create an NFT staking on Solana
Hiring a Developer to build a custom Staking is pretty expensive. We’re talking somewhere around 1500-5000 USD.
In this tutorial, we’ll show you how to do it 100% FREE using our “Staking Builder” tool. The only cost is a 0.008 SOL fee that users pay when staking their NFT.
We also offer paid versions with a reduced fee for users and extra customization options.
How to create an NFT staking on Solana step by step
- Head over to the Smithii Staking Builder and click “Test for Free”. You can also pick a paid plan, but it’s smart to test the full flow with the free version first.
2. Next, fill in the info for your account. Make sure you pick a wallet that’s secure, since it’ll be the wallet set as admin and you’ll need it any time you want to make changes.
3. Once you’ve filled everything in, you’ll land on a screen with a preview of your staking. You can mess around with colors and styling here, but you’ll be able to tweak everything for real once the “Deploy” is done.
4. To move on, go to the On-Chain Set up section and set the supply of your NFT Collection. Then click Deploy.
5. Wrap up the final settings for your staking. Set the token you’ll hand out as the staking reward (you can change it and add more tokens to the staking later). You’ll also pick which NFT collection gets access to Staking.
6. Finish the Deploy by clicking Continue. You’ll see a summary of the info you provided and then click Deploy. This will open a transaction to send the reward tokens to the Smart Contract, which will distribute them as rewards to your holders when they Stake.
Customize your staking after deploy
Now that the process is done, your Staking is live. That means any holder can start staking right now, but it’s time to get creative and customize your staking!
With the Free Plan you can customize the UI Colors, Navigation, and On-Chain Set up.
Your NFT staking is ready: example and next steps
After these steps, your Staking is ready to share with your Community and add value for your Holders. Let me show you one of my favorites.
Did yours turn out well?
Is it safe to create staking with Smithii?
We’re a company based in Dubai with thousands of active users every month across our tools. On top of that, our Smart Contracts have been tested and audited by Developers and security firms.
If you have any questions, don’t hesitate to reach out. Our team will be glad to help with whatever you need.
FAQ about NFT staking on Solana
Does NFT staking physically lock the NFT in my wallet?
Yes. Once staked, the NFT becomes non-transferable: it can’t be sold or moved until the holder unstakes it. This reduces the circulating supply of the collection and tends to stabilize (or push up) the floor price. Authority over the NFT temporarily moves to the staking smart contract.
How much do users pay to stake on the free plan?
Each user pays 0.008 SOL per staking transaction (the Smithii fee) plus the Solana network gas fees. Paid plans cut that fee and unlock extra customization (logo, full background, multi-pool).
Which token can I use as the staking reward?
Any Token SPL on Solana: your project’s token, SOL, USDC, WIF, BONK, or anything else you want. You set it in the On-Chain Setup section when you deploy. You can add more tokens to the staking later if you want to diversify the rewards.
Can I change the NFT collection with staking access after deploy?
The eligible collection and the authority wallet are locked in at deploy. To change the collection, you’d have to deploy a new staking. What you can still edit is colors, navigation, social links, and the site’s visual setup.
Which wallets can be used to manage the staking?
Any wallet that supports Solana: Phantom, Solflare, Backpack, or Glow. We recommend using a wallet dedicated to the project (ideally hardware or multisig), not a personal wallet you’re using elsewhere, because it gets locked in as the staking Authority Wallet permanently.
Conclusion
Setting up Staking for the NFT in your collection is a great way to reward your holders while helping the collection do better on the market. And what better way than at zero cost.
Take your time to nail down your strategy and utilities, but odds are a Staking will add serious upside to your plans!
Thanks for reading, and remember to subscribe to our newsletter for weekly content for NFT Creators.
Build your own Staking site!
Sign up to get all the tips you need to launch your own staking site.
CEO & Co-Founder at Smithii. Building on Solana since 2021 and sharing playbooks from the trenches. Also founder of Lince after years investing in DeFi.
