Stake SOL with Phantom liquid staking

With Phantom liquid staking, you stake SOL and receive Phantom Staked SOL (PSOL) in return. PSOL earns staking rewards, MEV rewards, and priority fees automatically. Your PSOL amount stays the same, but each token becomes worth more SOL over time. You can redeem PSOL for SOL plus earned rewards, or use it in DeFi apps that support PSOL.

Risks to consider

Liquid staking is generally safe, but there are a few things to be aware of:

• Smart contract risk. PSOL is built on the audited Solana stake pool program, but as with any smart contract, a small residual risk exists.
• Exit fees. Every time you unstake or swap out of PSOL, a 0.1% exit fee applies. This means you need to hold PSOL for a few days before rewards offset the fee.
• Reserve liquidity. Instant unstaking depends on available reserve SOL. If reserves are low, your unstake falls back to a native stake account with a 2–3 day wait.

Stake SOL for PSOL

1. Select Solana in your portfolio.
2. Select Your Stake → Start Earning.
3. Review the amount to stake. Phantom suggests an amount based on your SOL balance, but you can enter your own.
4. Select Next and review the details.
5. Select Stake to confirm.

Your PSOL will appear in your wallet after staking completes.

Convert your native SOL stake to PSOL

If you have SOL delegated to a validator in native staking, you can convert that stake account to PSOL. The account will be deactivated first before the conversion can complete.

1. Select Solana in your portfolio.
2. Select Your Stake → Other.
3. Select the stake account you want to convert.
4. Select Convert to PSOL.

Phantom will let you know when your account can be converted. Once done, PSOL appears in your wallet.

Swap to PSOL

You can acquire PSOL by swapping from any Solana-based token. Swaps to PSOL don't incur swap fees.

1. Select Swap on the Home tab.
2. In You Pay, select the token you want to use. For example, SOL or USDC.
3. In You Receive, select PSOL.
4. Enter the amount, review the details, then select Swap Now.

After the swap completes, your PSOL will appear in your wallet.

Use PSOL in DeFi

You can lend and borrow against your PSOL on Kamino Finance.

1. Select Phantom Staked SOL in your portfolio.
2. Select More → Deposit with Kamino.
3. Connect your Phantom wallet to Kamino (on mobile, use Phantom's in-app browser).
4. Continue on Kamino's website.

Unstake your SOL

When you unstake, you'll get back more SOL than originally deposited because your PSOL tokens will have increased in value relative to SOL.

1. Select Phantom Staked SOL in your portfolio.
2. Select Unstake.
3. Enter the amount of PSOL to unstake, then select Next.
4. Review the fees and select Unstake.
5. Phantom will attempt to convert your PSOL to SOL instantly using reserve liquidity. If there's enough liquidity, select Close and your SOL will return to your wallet.

If there isn't enough SOL in the reserve, your PSOL moves to a native stake account, which you'll need to withdraw from:

1. Select Open Your Stake to view your native stake account.
2. Select Unstake to start deactivating the account, then select Close.
3. Wait until the account becomes inactive (about 2–3 days).
4. Open the inactive account, then select Withdraw Stake to move your SOL back to your wallet.

Swap out of PSOL

As an alternative to unstaking, you can swap out of PSOL to SOL or other tokens.

1. Select Swap on the Home tab.
2. In You Pay, select PSOL.
3. In You Receive, select SOL or another Solana-based token.
4. Enter an amount to swap.
5. Review the fees and select Swap Now.

Track your PSOL rewards

PSOL earns rewards automatically, but your PSOL or SOL balance won't increase. Instead, each PSOL becomes worth more SOL over time. Rewards show up as changes in value, not as additional tokens credited to your balance.

To track your rewards, open Phantom Staked SOL in your portfolio and scroll to the Your Stake section. You'll see your current APY and a card that shows your recent profit and loss (PnL).

How PSOL rewards are calculated

The PnL card reflects how the PSOL-to-SOL exchange rate has changed since you staked. This is different from native SOL staking, where rewards appear as additional tokens.

Example:

1. You stake 1 SOL and receive 0.980 PSOL. Each PSOL is already worth more than 1 SOL because it reflects the rewards earned by the pool so far.
2. After one full epoch, the PSOL rate increases from 1.000 SOL to 1.003 SOL. Your 0.980 PSOL is now worth 1.003 SOL. The PnL card shows "You've earned 0.003 SOL."
3. In the next epoch, the PSOL rate moves from 1.003 SOL to 1.001 SOL. Your 0.980 PSOL is now worth 1.001 SOL. The PnL card shows "You've earned 0.001 SOL."

Reward updates usually appear at the start of a new Solana epoch, which lasts about 2–3 days.

Rewards not showing yet

If the reward card says "You haven't earned SOL yet," it doesn't necessarily mean you're not earning. Possible causes:

• Epoch timing. Rewards only update at the start of each Solana epoch. If you just minted PSOL, no rewards appear until the first update.
• Exit fees. Every time you unstake or swap out of PSOL, you're charged a 0.1% exit fee in PSOL. At around 7% APY, it takes about 5–6 days of holding PSOL to earn this back. If you unstake often, your rewards may stay flat until enough time passes.

Once your first epoch completes and you hold PSOL long enough to offset exit fees, your rewards will appear.

Fees

Common issues

Unstaked but funds haven't arrived

Unstaking doesn't always return SOL to your wallet immediately. If there isn't enough SOL in the reserves, Phantom moves your SOL to a native staking account instead. Your funds are safe and will become available for withdrawal once the account becomes inactive (about 2–3 days).

1. Select Solana in your portfolio.
2. Select Your Stake → Other.
3. Select the inactive stake account you want to withdraw from.
4. Select Withdraw Stake.

If the account is still deactivating, wait until it becomes inactive. See Why is my SOL stake still activating or deactivating? for more information.

FAQ

What can I do with PSOL?

You can hold PSOL to keep earning rewards or use it in DeFi apps like Kamino.

Is PSOL safe to use?

PSOL is built on the audited Solana stake pool program, which has undergone nine audits. Phantom never has custody of your tokens.

Why did I receive fewer PSOL than the amount of SOL I staked?

Because PSOL grows in value over time, each token becomes worth more SOL. You therefore mint fewer tokens for the same SOL amount.

Can I still use native staking?

Yes. Native staking remains available in Phantom as a separate option.

Can I convert to PSOL from JitoSOL?

It's not possible to directly convert JitoSOL to PSOL. If you currently hold JitoSOL, you'll need to unstake it first (through Jito), withdraw your SOL, and then convert your SOL to PSOL.

Is PSOL non-custodial?

Yes. Your tokens are always in your control.