StakePoint
Solana DeFi Glossary
Definitions of key terms used in Solana DeFi, token locking, LP locking, and staking. Published by the StakePoint team.
Seed Phrase
A 12 or 24 word backup phrase that gives full access to a cryptocurrency wallet.
Definition
A seed phrase (also called a recovery phrase or mnemonic phrase) is a sequence of 12 or 24 randomly generated words that serves as the master backup for a cryptocurrency wallet. Anyone who has the seed phrase has full access to all funds in the associated wallet.
Seed phrases are generated when a new wallet is created. They encode the wallet's private key in a human-readable format. If a device is lost or a wallet app is uninstalled, the seed phrase can be used to restore full access to all associated accounts and balances.
Seed phrases must be stored securely offline: never digitally, never shared with anyone, and never entered on any website. Sharing a seed phrase is equivalent to handing over full control of all funds in the wallet.
StakePoint & Seed Phrase
StakePoint never asks for or requires a seed phrase. All interactions with StakePoint are performed by signing transactions with a connected wallet: the seed phrase is never exposed. StakePoint is non-custodial and does not have access to user wallets.
Related Pages
Frequently Asked Questions
What is a seed phrase?
A seed phrase is a 12 or 24 word backup phrase that gives full access to a cryptocurrency wallet. It must be kept secure and never shared.
Does StakePoint need my seed phrase?
No. StakePoint never asks for a seed phrase. All interactions use wallet signing: your seed phrase is never exposed.
Related Terms
Solana Wallet
A software application that stores Solana private keys and signs on-chain transactions.
Phantom Wallet
The most popular Solana browser extension and mobile wallet.
Non-Custodial
A design where a platform never holds or controls user funds.
Solana DeFi
Decentralised finance applications built on the Solana blockchain.