Create NFT Staking on Solana

HOW TO CREATE STAKING Solana NFT 100% FREE OF CHARGE

If you want to create a Staking for your NFT Project on Solana this post is for you. We are going to show you how to create your own customized Staking on Solana, without programming, in just 5 minutes and the most important thing; completely FREE.

Let's go straight to the step-by-step by going through a bit of theory, but if you prefer the video version this one on how to Create your Staking is for you.

WHAT IS A NFT STAKING

Before going to the step-by-step we should mention a couple of important points.

The concept of Staking is similar to a "lockade". That is, the mechanics makes NFT holders unable to transfer their asset, making it unavailable in the market (decreases the supply), such holders receive a reward in return, usually a token of the project.

NFT STAKING BENEFITS on Solana

Virtually all projects offer staking to their NFT Holders. The answer is clear: it works.

By its definition, we can understand why staking is a good idea. But let's highlight the following Benefits we can have when creating a Staking NFT.

• It is a good way to reward the holders.
• The NFTs are non-transferable while they are in Stake
• The supply available on the market is decreasing
• It is usually in all projects

HOW MUCH DOES IT COST TO CREATE A STAKING on Solana

Hiring a Developer to create a Custom Staking is quite expensive. We can say that the cost is around 1500-5000 USD.

In this tutorial we will show you how to do it 100% FREE with our tool "Staking Builder". Only users will pay a commission of 0.008 SOL when making staking of their NFT.

We also have paid versions available with a reduced user fee and extra customization options.

HOW TO CREATE STAKING Solana STEP BY STEP

1. To start we will go to the tool Staking Builder (staking.smithii.io) and click on the "Test for Free" button. We can also select one of the paid plans, although I recommend that you try the whole process first with the free version.

2. We continue to enter the information for our account. It is important that you select a wallet that is safe, since it will be the wallet that will be set as administrator and you will need it if you need to make modifications.

3. When we complete the information we will go to a screen with a preview of our staking. Here we will be able to play a little with the colors and others, but we will be able to really modify everything once we have finished the "Deploy".

4. To continue we will go to the section On-Chain Set up and we will indicate the supply of our NFT Collection. Then click on Deploy.

5. We complete the last configurations of our staking. We set the token that we will give as a reward to staking (you will be able to modify it and add more tokens to staking in the future). We will also set which NFT collection will have access to make Staking.

6. We finish the Deploy by clicking on Continue. We will see a summary of the indicated information and click on Deploy. This will open a transaction with which we will send the reward tokens to Smart Contract to be distributed as a reward to our holders when doing Staking.

CUSTOMIZE STAKING Solana

Now that we have finished the process our Staking is available. I mean, any holder could make Staking from now on, but it's time to get creative and customize our staking!

With the Free Plan we can customize the UI Colors, Navigation and the On-Chain Set up.

CREATE Solana NFT STAKING

After these steps we have our Staking ready to share with your Community and give value to your Holders. Let me show you one of my favorites.

Did yours turn out well?

IS IT SAFE TO CREATE A STAKING on Solana WITH SMITHII?

We are a Dubai based company with thousands of monthly active users on our tools. In addition, our Smart Contracts have been tested and audited by Developers and security companies.

If you have any questions please do not hesitate to contact us, our team will be happy to help you with whatever you need.

CONCLUSION

Having a Staking for the NFTs in your collection is a great way to reward your holders while helping your collection to thrive in the market. And what better way to do it than at no cost.

Take your time to define your strategy and profits, but it is very likely that a Staking will bring an extra benefit to your plans!

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