Fantom uses a proof-of-stake consensus algorithm to validate transactions and secure the network. You can participate by staking your FTM. In exchange, you are rewarded with FTM tokens.
To stake, you do not need any dedicated special hardware or device. You can do it directly from your phone or PC. While staking means locking up your tokens, they are still in your wallet and only you have access to them. You can unlock your funds at any time.
Staking parameters
Minimum amount: 1 FTM
Minimum lock-up period: 0 days, earning the base reward rate
Maximum lock-up period: 365 days, earning the maximum reward rate
Unbonding time (time between unstaking and funds becoming available): 7 days
Delegation fee: The network has set a fixed fee of 15% on staking rewards paid from stakers to validators for running their nodes
Delegation fee exampleAssuming you earn 6.00% on a stake of 1,000,000 FTM, you'll receive 1,000,000 * 0.06 * (1-0.15) = 51000 FTM per year.
Guide
Head to fWallet.
Click on Staking in the menu
Choose the amount of FTM you would like to stake and then click on Choose a Validator
Click on Create new delegation
Choose a validator from the list
Click Stake and continue and follow the instructions
Tools
FAQ
Can others access my staked tokens?
No. Assuming no one else has access to your private key or seed phrase, nobody except you will have access to your tokens. Make sure not to share nor lose your seed phrase or private key.
Can I lose my tokens when staking?
If you stake to a validator node that acts maliciously, you could lose all your staked tokens. You must choose the validator node wisely and make sure they are reputable. Slashing delegators as well, instead of only validators, is an essential part of network security. It makes it costly for a set of bad actors to take over the majority of the network.
How do I choose a reputable validator?
Most validators for Fantom have active communities, websites, and Twitter accounts. Do your own research and ask around in the community as they will be able to help you.
Can a validator run away with my funds?
No. In any case, a validator does not have access to any other tokens than their own. However, if a validator acts maliciously, all the funds staked to that node can be lost.
What happens if a validator goes offline?
If a validator node goes offline, it stops receiving rewards since it is not helping secure the network anymore. When it comes back online, the rewards resume.
Can I withdraw my delegation if a node goes offline?
Yes, you can.
Can I re-stake or increase my delegation?
Yes. This is possible through fWallet.
Can I unlock my delegation before the lock-up period ends?
Yes, you can. However, you will pay a penalty for doing so. Since your rewards are always unlocked and withdrawable, the penalty will come from your staked amount. If you unlock earlier, regardless of how much of the lock-up period is left, you will only receive half of the base rewards; the additional rewards will be burned.
In any case, you will never end up with fewer tokens than you delegated.
