When you stake your SOL with Phantom, you receive Phantom Staked SOL (PSOL), a liquid staking token that earns staking rewards, MEV rewards, and priority fees. PSOL can also be used in DeFi.
PSOL increases in value over time as rewards accrue. Your PSOL amount stays the same, but each token becomes worth more SOL the longer you hold it.
You can redeem PSOL for your original SOL plus the rewards earned, or use it in DeFi apps that support PSOL.
Stake SOL with Phantom liquid staking
- Select Solana in your portfolio.
- Select Your Stake → Start Earning.
- Review the amount to stake. Phantom suggests an amount based on your SOL balance, but you can enter your own.
- Select Next, review the details.
- Select Stake to confirm.
Your PSOL will appear in your wallet after staking completes.
Convert your native SOL stake to PSOL
If you SOL delegated to a validator in native staking, you can convert that native stake account to PSOL. The account will be deactivated first before you can complete the conversion.
- Select Solana in your portfolio.
- Select Your Stake → Other to view your native stake accounts.
- Select the stake account you want to convert.
- Select Convert to PSOL, then select Convert.
- When your stake account becomes inactive, Phantom will send you a push notification.
- Open the notification to complete the conversion.
Your SOL will be converted to PSOL and appear 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.
- Select the Swap tab.
- In the You Pay field, select the token you want to use. For example, SOL or USDC.
- In the You Receive field, select PSOL.
- 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.
- Select Phantom Staked SOL in your portfolio.
- Select More → Deposit with Kamino.
- Connect your Phantom wallet to Kamino (on mobile, use Phantom's in-app browser).
- Continue on Kamino’s website.
Unstake your SOL
When you unstake, you'll get back more SOL than originally deposited as your PSOL tokens would have increased in value relative to SOL.
- Select Phantom Staked SOL in your portfolio.
- Select Unstake.
- Enter the amount of PSOL to unstake, then select Next.
- Review the fees and select Unstake.
- Phantom will attempt to convert your PSOL to SOL instantly using reserve liquidity. If there's enough liquidity, you'll 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:
- Select Open Your Stake to view your native stake account.
- Select Unstake to start deactivating the account, then select Close.
- Wait until the account becomes inactive (about 2–3 days).
- Open the inactive account 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.
- Go to the Swap tab.
- In You Pay, select PSOL.
- In You Receive, select SOL or another Solana-based token.
- Enter an amount to swap.
- 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 will 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. It doesn't show your total lifetime rewards, and it doesn't increase your token balances (unlike native SOL staking, for comparison).
Here's a simple example:
- 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.
- 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."
- 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.
If you haven't earned any rewards after staking for some time
If the reward card says “You haven't earned SOL yet,” it doesn’t necessarily mean you’re not earning rewards. Possible causes include:
- 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
| Fee | Description |
|---|---|
| 4% | A fee that applies to your staking rewards (not your SOL). This fee is built into the protocol. |
| 0.1% | An exit fee that applies to your PSOL when you unstake or swap out of PSOL. Charged in PSOL. |
Troubleshooting
I've unstaked SOL but haven't received it back yet
When you unstake and there's not enough liquidity in the reserve, Phantom moves your SOL to a standard native stake account instead of immediately transferring it your balance. Your funds are safe, but you will need to deactivate the native stake account and click Withdraw Stake once the account becomes inactive (about 2–3 days).
FAQ
What can I do with PSOL?
You can hold PSOL to keep earning rewards or use it in DeFi apps like Kamino. See Lend and borrow against PSOL.
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.