Sommelier (SOMM) & Cold Staking Delegations

Stake your Sommelier (SOMM) coins directly from your own wallets and earn in a non-custodial way. Your keys, your crypto rewards.

Sommelier (SOMM) & Cold Staking Delegations

Delegate SOMM in DeFi way & Earn Staking Rewards

Delegate (stake) your Sommelier coins directly from your own wallets and earn in a non-custodial way. Your keys, your crypto rewards.

Wallet support:
Network:

Asset

Sommelier

Ticker

SOMM

APR

~8.9%

Min. stake

any amount

Payout Frequency

few hours

Unbonding Period

28 days

Staking Providers

Earn Network
Validator address

sommvaloper1nlr6lwu5sdhgwp3m0sgvm2r6x0esmv6g2kdp4l

Reward Fee
1.00%
Rank
no.49

Wallets supported

🔌 Network: Sommelier
⚡️ Choose your wallet below and follow the listed steps.

Earn Network (auto-compounding available!)

1. Open Sommelier dedicated page on Earn Network.

2. Connect with your Keprl wallet. If you haven’t added $SOMM to Keplr yet, do so now. Pop-ups will appear for both adding its network and making the connection between Earn Network dApp with Keplr.

3. Navigate to the 'Delegate' tab and input the number of coins you want to delegate. Remember to leave a small amount for transaction fees. A Keplr pop-up will appear for you to confirm the transaction.

4. Once you confirm, your tokens will be delegated. To maximize your returns make sure to enable auto-compounding to utilize restaking feature.

Full $SOMM delegation & restaking guide is available on Earn Network's blog.

Keplr

1. Go to Keplr wallet, and switch network to Sommelier.

2. Find one of our recommended validators and click on it.

3. Select amount of SOMM you want to stake and click the “Delegate” button.

5. Approve in the Keplr pop-up window and that’s it.

Enjoy your rewards on cold staking!

Cosmostation Web

1. Go to Cosmostation wallet, and switch network to Sommelier.

2. Go to the "Delegate" tab and find one of our recommended validators.

3. Click "Delegate" next to it and select the amount of SOMM you want to stake.

5. Confirm your delegation.

Enjoy your rewards on cold staking!

Check other assets

Delegate coins to nodes or stake with MyCointainer decentralized pools always having funds in your wallet and under control.

Frequently Asked Questions

How does Cold Staking work?

Cold staking is an innovative approach to earning passive income from your cryptocurrencies. To begin cold staking, users must store their assets in a non-custodial wallet and delegate their coins to a MyCointainer node or similar validators.

Your participation in cold staking entitles you to receive rewards in the form of additional tokens, and further creates a bigger impact on network security, and decentralization of the protocol.

What is Annual Percentage Rate (APR) and how is it calculated?

The annual percentage rate (APR) for delegators to dPoS validators is calculated based on several factors, including:

  1. Block rewards: The rewards earned from validating blocks and creating new blocks are distributed among validators and their delegators. The amount of rewards each delegator receives is proportional to the amount of stake they have delegated to the validator.
  2. Commission rate: The commission rate is a percentage of the rewards earned by the validator that is taken as a fee. This fee is taken from the rewards earned by the validator and its delegators.
  3. Inflation rate: The inflation rate of the underlying cryptocurrency affects the overall rewards earned by the validator and its delegators.
  4. Network performance: The network performance, such as the rate of block production, can also impact the APR earned by delegators.

All these factors are combined to calculate the APR for delegators to dPoS validators, which should be treated as estimate of the expected returns for staking over a certain period of time.

Will the APR always be a fixed percent?

There are factors that can move the APR up or down. Rates can be influenced by the network’s conditions, inflation, number of stakers and staked assets, and the validator’s performance.

When will I receive my Cold Staking rewards?

The frequency of rewards distribution for cold staking assets in dPoS assets typically varies depending on the specific network details. In some cases, rewards are distributed on a weekly or monthly basis, while in others, rewards are distributed daily or even often. It ultimately depends on the design of the particular network, and for some of them, you will need to claim produced rewards before making them free to use.

Are there fees for Cold Staking?

Yes, there can be fees associated with Cold Staking. They may vary depending on the specific dPoS network and the Cold Staking Provider you use. Besides rewards fees which node operators typically set up, there are network fees associated with executing delegation.

Can I access my assets while Cold Staking?

Since the assets are stored in your personal cold wallet, you always have access to your investments. You can unstake your assets anytime, but consider that various assets have different unbonding periods that are governed by the blockchain network.