This guide explains how to unstake your SOL tokens on Solflare. It covers both the standard unstaking process and the quicker instant unstake option, along with important considerations and steps for partial unstaking (SPLIT).
Understanding Unstaking:
Staking allows you to earn rewards on your SOL tokens by delegating them to validators on the Solana network.
Unstaking refers to the process of withdrawing your delegated SOL back to your available wallet balance.
Standard Unstaking:
This method involves a waiting period but doesn't incur any additional fees.
Steps:
Access Staking Menu:
Open your Solflare wallet application.
Navigate to the "Portfolio" tab.
Click on the "Solana" coin.
Select "Staking" from the sub-options.
Choose Stake Account:
A list of your existing stake accounts will be displayed.
Click on the specific "Active" stake account you wish to unstake from.
Initiate Unstaking:
Click the "Unstake" button.
Confirm the transaction.
Unstaking Period:
After confirming the transaction, it takes approximately 20 network confirmations for your staked SOL to enter the unstaking status.
You can find the estimated "Time to unstake" by clicking on any "Unstaking" stake account in the list. This waiting period can take 1-3 epochs (2-4 days).
Withdraw Unstaked SOL:
Once the unstaking period is complete, you'll be able to withdraw your SOL back to your main wallet balance.
Click the "Withdraw" button and confirm the transaction.
Important Note:
Closing a stake account permanently removes your rewards history from the blockchain. Ensure you have all necessary records for tax purposes before proceeding with account closure.
Instant Unstake:
This option allows you to access your unstaked SOL immediately but incurs a fee of 0.5% to 3% depending on available liquidity.
Steps:
Follow steps 1 and 2 from the standard unstaking instructions above.
Instead of clicking "Unstake," toggle ON the "Instant Unstake" option.
Review the displayed fee and confirm the transaction if you agree.
Partial Unstaking:
If you only want to unstake a portion of your SOL from a stake account, follow these steps:
Navigate to Staking:
Open your Solflare wallet and access the "Staking" section.
Expand Stake Account View:
Locate the desired stake account in the list.
Click the arrow to the right of the stake account to expand the view.
Access Split Feature:
Click the three vertical dots (...) menu.
Select "Split" from the options.
Specify Withdrawal Amount:
Enter the amount of SOL you wish to withdraw from the stake account.
Click "Split" and confirm the transaction.
Unstake or Instant Unstake Partial Amount:
Once the split is complete, you'll have a new stake account with the chosen amount for withdrawal.
You can then unstake or use Instant Unstake on this new, smaller stake account to access your SOL immediately or wait for the standard unstaking period to elapse.
Choosing the Right Method:
If you need your SOL urgently, Instant Unstake provides immediate access.
If you don't mind waiting a few days, the standard unstaking process is suitable.
By following these steps and understanding the different unstaking options available on Solflare, you can effectively manage your staked SOL and make informed decisions based on your needs.