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Fantom (FTM): A Comprehensive Guide to Staking and Blockchain Opportunities

Discover how Fantom (FTM) is revolutionizing the blockchain space with its high-speed, low-cost platform and explore the various staking options available to investors.
Published on 2022-09-22

Introduction to Fantom (FTM)

Fantom (FTM) is a high-performance, open-source blockchain platform known for its speed, scalability, and affordability. Often referred to as an "Ethereum killer," Fantom competes with other prominent blockchains like Solana (SOL) and Avalanche (AVAX). Since its mainnet launch in December 2019, Fantom has grown significantly, becoming one of the top 10 blockchains by total value locked (TVL), with over $1.3 billion in TVL. Its EVM-compatible platform supports decentralized applications (DApps) and decentralized finance (DeFi) solutions, making it a versatile choice for developers and investors alike.

Staking Fantom (FTM): Options and Benefits

Staking is a key feature of the Fantom ecosystem, offering investors multiple ways to earn rewards while contributing to the network's security. Below are the primary staking options available:

Fluid Staking

  • Investors can lock their FTM tokens for a period ranging from two weeks to 365 days.
  • The longer the staking period, the higher the reward rate, incentivizing long-term commitments.

Liquid Staking

  • By minting sFTM tokens, investors can enhance their returns while maintaining liquidity.
  • Additional opportunities include staking farmed tokens, participating in liquidity mining, and farming LP rewards.

Custodial Staking

  • Investors can stake their FTM tokens on centralized exchanges (CEX) like Binance or Coinbase.
  • Custodial staking offers a straightforward option with a fixed reward rate of 1%.

How to Stake Fantom (FTM)

Staking FTM is a straightforward process that requires minimal setup:

  1. Minimum Requirement: Investors need at least 1 FTM to start staking.
  2. Staking Process:
    • Visit the Fantom staking page and click "Stake your FTM."
    • Log in using a compatible wallet, such as MetaMask, either on a computer or mobile device.
    • Transfer FTM tokens to your Fantom Opera wallet address.
    • Click on "Staking," select a validator, choose the lock-up period, and confirm.

Staking Fantom on Popular Platforms

For added convenience, investors can stake FTM on leading exchanges:

  • Binance: Offers a user-friendly interface for staking FTM.
  • Coinbase: Provides a secure environment for staking with minimal setup.
  • KuCoin: Allows investors to stake FTM alongside other cryptocurrencies.

Running a Full-Node on Fantom

For advanced users, running a full-node on Fantom provides deeper engagement with the network:

  1. Hardware or Cloud Setup: Users can run a node on their hardware or use cloud providers like Amazon AWS.
  2. Installation and Configuration:
    • Set up a non-root user and install necessary tools.
    • Install Go and the Opera software.
  3. Validator Node Registration:
    • Create a validator wallet to serve as the node's identity on the network.
    • Authenticate and sign messages to participate in the network.

Conclusion

Fantom (FTM) stands out as a powerful blockchain platform with robust staking options and a growing ecosystem. Whether you're a seasoned investor or a new entrant, Fantom offers opportunities to earn rewards while supporting a scalable and efficient network. Explore the various staking methods and consider running a full-node to maximize your engagement with the Fantom ecosystem.

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