Everything You Need to Know About Sui Staking

Sui staking unlocks the chance to earn rewards while securing the Sui Network. This article explores everything from how staking works to how you can participate, whether you prefer native or liquid staking, traditional wallet methods, or the innovative Unihouse platform. Each approach offers its own perks and trade-offs, and the following sections break down these options to help you decide which route best fits your goals.

What is Sui Staking?

In simple terms, Sui staking is the process of locking up $SUI tokens to validate blockchain transactions. Sui relies on a Delegated Proof-of-Stake system, which grants a validator voting power depending on the amount of staked $SUI tokens. The more staked $SUI, the greater influence in confirming transactions and contributing to network consensus. In return for validating transactions and keeping the network secure, stakers receive a share of the gas fees collected by the network.

SUI Staking Types

There are two types of staking in the Sui network: native and liquid. Native staking refers to having full custody of $SUI, but it is delegated to a validator. Liquid staking refers to swapping $SUI with a 1:1 staking pool token. A prime example of a staking pool token is vSUI, which can be converted back to $SUI.

Native staking is generally considered safer than liquid staking because $SUI stays in the wallet. With liquid staking, staked $SUI is lost if the staking pool is hacked or the people running the platform suddenly disappear.

Why Stake SUI?

Instead of using specialized and power-hungry machines to confirm transactions, blockchains with a Proof-of-Stake consensus mechanism rely on validators, who “stake” or lock up some of their coins as a sign of commitment. Staking encourages more cooperation among participants since being dishonest means the loss of staked $SUI. This structure motivates validators to behave in the best interest of the network while still allowing them to earn rewards for their service.

Staking SUI also enhances one’s passive income potential. Instead of sitting idle in a wallet, you can stake your $SUI to collect rewards over time.

SUI Staking APY

APY stands for Annual Percentage Yield, which refers to the estimated annual rate of return for participants who delegate their tokens. SUI staking APY varies because many factors affect the rewards, including overall staked supply, validator performance, and the staking platform’s reward rate. Broader market trends can also affect the value of the APY. If the price of SUI rises, the actual value of staking rewards might increase in fiat currency terms. On the other hand, if the token’s price drops, the real-world value of earned SUI might decrease.

What is Unstaking?

At some point, a participant might decide they no longer want their $SUI locked up. Unstaking is the process of releasing those tokens so they can be withdrawn. Depending on the platform’s rules, there could be a waiting period before staked SUI can be moved again. This waiting period helps maintain the staking platform and the Sui blockchain’s stability by preventing people from rapidly removing their stakes.

How to Stake SUI on Slush

The Slush Wallet is a web browser extension and mobile app designed to hold and manage $SUI cryptocurrency. To install the Slush extension on your desktop, visit the Google Chrome Web Store and add it to Chrome, Microsoft Edge, Opera, Brave, or any other Chromium-based browser. If you prefer using a mobile device, you can download the Slush Wallet mobile app for iOS or Android.

To begin, open the Slush Wallet and go to the Earn tab (piggy bank icon). There, you can choose liquid staking or native staking.

Native staking: Click the Start native staking option to open a page where you can pick a validator to stake with. After you select one, click Select Amount to enter how much $SUI you want to lock up, but leave enough in your wallet for any gas fees. When you’re ready, click Stake Now to proceed.

Liquid staking: If you prefer higher SUI staking APY, choose liquid staking from Aftermath, Haedal, sSUi, or vSUI staking pools. Click the + sign, enter the amount of $SUI you want to convert, and click Stake Now.

Whether you choose native or liquid staking, a prompt will appear so you can confirm the details of the transaction. Check that everything looks good, then click the check mark to confirm. Once you see a confirmation message, close the prompt. You will start earning SUI staking rewards in the next epoch, and you can track those rewards right in your wallet.

Sui Staking Rewards on Slush Wallet

The Slush Wallet typically distributes staking rewards automatically, which you can view on the Earn tab. You can also manage your current stakes and validators and see the average earned APY.

How to Stake SUI on Unihouse

Another way to earn APY from $SUI is to stake in Unihouse, a new decentralized GambleFi platform on the Sui Network. Unlike native staking, where participants delegate $SUI to process blockchain transactions, staking on Unihouse means providing liquidity to the DoubleUp platform. Participants practically become part-owners of the “house” and earn interest from DoubleUp Casino’s profits.

After depositing $SUI, stakers receive gSUI in return, which represents their share of the House. The value of gSUI and the APY fluctuates depending on the House’s profits and losses. At the time of writing, the gSUI APY is 42%, and a gToken is equivalent to 1.92 SUI. Participants can swap gSUI back to $SUI anytime they want to unstake.

To stake SUI on Unihouse, connect your Google account or Slush wallet with DoubleUp. Once logged in, go to the gSUI staking page and scroll down to the Deposit section.

Next, enter the amount of $SUI you want to stake, then click Deposit. Make sure you have enough funds to cover the deposit and the gas fee. If everything is good, click the Approve button on the pop-up window.

To track your shares and earnings, head to the Unihouse page and refer to the Your Shares column at the far right of the table.