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How to stake Fantom (FTM)?

Cryptocurrency Sep 22, 2022 09:40AM ET
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How to stake Fantom (FTM)?
 
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Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become one of the most popular blockchains, sitting in the top 10 blockchains by total value locked (TVL) with $1.3 billion in TVL.

Fantom’s high-throughput blockchain is an open-source smart contract platform. It is scalable and EVM-compatible, meaning you can deploy and run your Ethereum decentralized applications (DApps) on Fantom. Its structure enables the support for its decentralized finance (DeFi), other than managing digital assets and DApps.

How to stake FTM

  1. Fluid staking: Investors can lock up their FTM token from two weeks to 365 days for better returns. The reward varies according to the length of the staking period; the longer FTMs are staked, the higher the reward rate.
  2. Liquid staking: Investors can mint sFTM for improved ROI when liquid staking. They can also stake farmed tokens, participate in liquidity mining, farm LP rewards and more.
  3. Custodial staking: Investors can take FTM on a centralized exchange (CEX) like Binance or Coinbase (NASDAQ:COIN). The staking reward is 1%.
  1. Have a minimum of 1 FTM to stake;
  2. Go to the Fantom staking page and click Stake your FTM;
  3. You can log in with a compatible wallet, like MetaMask. You can open the wallet from your computer or your mobile device. You can create a new wallet or access an existing one using a mnemonic or seed phrase.
  4. Deposit your FTM by transferring them from an exchange or another wallet to your Fantom Opera (NASDAQ:OPRA) wallet address.
  5. Click on “Staking.”
  6. Add a delegation by choosing a validator and an amount.
  7. Select your lock-up period and confirm.

How to stake Fantom on Ledger

How to stake Fantom on Coinbase

How to stake Fantom on Binance

How to stake Fantom on Kucoin

A step-by-step guide to running a full-node

  1. Users can run a node on their hardware or use a cloud provider. One of the big cloud providers, e.g., Amazon (NASDAQ:AMZN) AWS, is recommended.
  2. They can set up a non-root user.
  3. Install the required building tools; install Go and then Opera.
  4. Register their Fantom validator node on-chain. To do this, users need to create a validator wallet that becomes the validator’s identity in the network, required to authenticate, sign messages, etc.
  5. Run their own node. To do this, they need to restart their node in validator mode, then close the Opera window by typing “exit.” Then they need to head back to the window where they started their node with the following command:

Continue Reading on Coin Telegraph

How to stake Fantom (FTM)?
 

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