Find out about various ways of staking Fantom and the best available wallets
These three ways of staking Fantom come each with a different yield. We will also look at each of these yields and compare them with each other. Therefore, the Fantom staking APY differs all the time. In other words, it all depends on what staking option you chose. In addition, we also show the best wallets for staking Fantom.
Source: Fantom wallet
Fantom is a layer 1 blockchain with a unique consensus mechanism, Lachesis. This mechanism makes Fantom not only faster, but also more secure, and scalable. Furthermore, Fantom is also EVM compatible. As a result, Fantom’s mainnet, Fantom Opera, is:
Fantom also claims to have solved the blockchain trilemma. Therefore, Fantom is fast, scalable, and decentralized. Most blockchains have only two of these three features. To clarify, they need to compromise on the third one, for the other two to flourish. As a result, Fantom can process 4,500 TPS and reaches finality in 1-2 seconds.
However, last week, one of DeFi’s most famous developers left Fantom. We wrote an article about this and what impact Andre Cronje’s departure had on Fantom. Currently, it looks like the FTM token took a hit. The price dropped from $1.81 on 4th March to $1.16 on 11th March 2022. In addition, other projects on Fantom also took a hit.
Furthermore, the TVL on the Fantom blockchain lost almost 45% since 2nd March. According to DeFiLlama stats. However, Cronje didn’t make a statement until Sunday 6th March. On the other hand, it appears that he hasn’t sold any Fantom off, out of his private wallet.
Besides a peak in volume on the 6th March, overall volume for FTM appears to be stable. Nonetheless, his decision to leave DeFi has had an impact on Fantom. Above all, Fantom has declared that all projects are independent. In other words, they can continue without Cronje, they are not a one-man project. As Fantom’s CEO tweeted.
Fantom uses the leaderless Proof-of-Stake protocol. In turn, this secures the Fantom network. Once you start staking FTM, your rewards are also in FTM. Furthermore, there is no need for any specific hardware or device.
There are a couple of options for staking FTM. If you lock your FTM, you receive a higher yield. Consequently, the longer you lock, the higher the yield. Up to 14.4% versus 4% for not locking at the time of writing.
The minimum stake to run a validator is 500,000 FTM. Therefore, it is easier to delegate your FTM to a validator. There are various ways of staking your FTM. Here are the options we cover now.
2. Liquid staking—When liquid staking, you can mint sFTM. This instant liquidity allows you to improve your ROI. Moreover, you can stake farmed tokens, take part in liquidity mining, farm LP rewards, and more.
3. Custodial staking—Stake FTM on a CEX like Binance. The staking reward is 1%.
There are a variety of wallets out there that allow staking Fantom. Here are the current best options.
Fantom Wallet—this is Fantom’s wallet or fWallet. Also, easy to set up with our guide. This wallet also supports the fUSDT and USDC stablecoins. Furthermore, it also connects with
Besides, Fluid Rewards and Liquid Staking, you can also run a validator node on fWallet. As already mentioned, this requires at least 500,000 FTM. Currently, almost $600,000. To clarify, apart from staking rewards, you also receive 15% as delegator rewards.
2. Coinbase wallet— Started as a mobile wallet only, but is now also available as a Chrome extension. To clarify, it is a non-custodial wallet. This means that you control the private keys. You can stake Fantom on this wallet. However, it connects through the fWallet. It is also a flexible wallet that allows you to buy NFTs, trade crypto on a DEX, and use various dApps.
3. Binance—Custodial wallet. Interest is 1%. An easy option for beginners, at the biggest crypto exchange in the world.
4. SpookySwap— The biggest DEX on Fantom, with currently $777 million TVL. However, that is 31% down from last week. You provide liquidity in a liquidity pool. This will earn you the BOO token and liquidity tokens (spLP). So, now you can farm the LP tokens and earn more BOO tokens.
Below is a chart that compares all the mentioned wallets.
| Platform | What kind of staking | APY | Ease of use | Rating |
| fWallet | Delegated | 4%—14.4% | Medium | 10/10 |
| Ledger | Delegated | 4%—14.4% | Medium | 9.75/10 |
| Coinbase Wallet | Delegated | 4%—14.4% | Medium | 9.75/10 |
| Binance | Flexible | 1% | Easy | 10/10 |
| SpookySwap | DeFi | Up to 60% | Hard/Risky | 9.5/10 |
To sum up, staking Fantom is an easy and lucrative way of generating passive income. In this article, we showed you the various options that are available when staking Fantom. Yield is solid, starting at 1% with a custodial wallet like Binance. Other wallets offer more yield, up to 14.4% or even 60% for Fantom DeFi options.
Before you start staking your Fantom, make sure to do your research. Above all, ensure that you are familiar with all the steps that you need to take in each Fantom staking process.
Moreover, for the more great info, join us on Telegram to receive free trading signals.
Above all, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
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BTC5/ So no, these projects are not closing down development. Some of them have been running independently for years.
Liquid Staking is one of Fantom's most exciting features. In other Proof-of-Stake networks, you have to choose whether to stake your tokens to secure the network and earn rewards OR give up the staking rewards to use your tokens in DeFi. Fantom is different. 👇
