How to stake Fantom (FTM)? latest News

Phantom (FTM) is known for its speed and affordable layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVX)) that scale better than its counterpart, it has been dubbed the “Ethereum killer”. After raising $40 million in funds, Phantom launched its mainnet in December 2019. Since then, it has become one of the most popular blockchains, sitting in the top 10 blockchains with total value locked (TVL). TVL. $1.3 billion in,

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Phantom (FTM) is known for its speed and affordable layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVX)) that scale better than its counterpart, it has been dubbed the “Ethereum killer”. After raising $40 million in funds, Phantom launched its mainnet in December 2019. Since then, it has become one of the most popular blockchains, sitting in the top 10 blockchains with total value locked (TVL). TVL. $1.3 billion in,

Phantom’s high-throughput blockchain is an open-source smart contract platform. It is scalable and EVM-compatible, which means you can deploy and run your Ethereum decentralized applications (DApps) on Phantom. Its infrastructure enables the management of digital assets and dApps as well as support for its decentralized finance (DeFi).

The Phantom consensus mechanism is a customized version of Proof-of-Stake, and is called Lachesis. It is designed to provide high speed transactions, low fees and almost instant finalization due to the ABFT algorithm. aBFT can grow to multiple nodes around the world in a permissionless, open source environment, offering a good level of decentralization.

The Phantom blockchain is powered by its native FTM token, and if you believe in the project and want to grow your FTM stack, you can consider staking Phantoms to earn passive income.

What is Phantom Staking?

Staking is making a blockchain more secure by locking down the investor’s digital assets for a certain amount of time. This security is provided by validators who validate transactions with their staked tokens, which becomes an economic incentive for them to behave according to the rules of the protocol.

By betting on FTM, investors actively participate in securing their network while earning passive income, that is, FTM rewards. Staking means that the token has to be locked for some time; However, they will still be sitting in the wallet of the owners, only they can access and unlock their funds at any time.

How to Bet on FTM

The minimum stake amount to run a validator is 500,000 FTM in order to prevent attacks on CIBIL’s consensus mechanism. Sybil attacks are malicious attacks that involve falsifying multiple identities to gain an unfair advantage within a network. Since the required amount of validator is relatively high, it becomes easier to hand over the FTM to the validator.

Some phantom staking strategies that can be used are:

  1. Fluid Staking: Investors can lock their FTM tokens from two weeks to 365 days for better returns. The reward varies according to the length of the staking period; The longer the FTM bets are placed, the higher the reward rate.
  2. Liquid Staking: Investors can use SFTM for better ROI during liquid staking. They can also stake farming tokens, participate in liquidity mining, Farm LP rewards, and more.
  3. Custodial Staking: Investors can take FTMs on a centralized exchange (CEX) such as Binance or Coinbase. The wager reward is 1%.

To bet on Phantom, users can follow these simple steps:

  1. Have at least 1 FTM to place a bet on;
  2. Go to Phantom Staking page and Click Bet your FTM;
    steak phantom
  3. You can log in with a compatible wallet like MetaMask. You can open Wallet from your computer or your mobile device. You can create a new wallet or access an existing one by using a mnemonic or seed phrase.
  4. Deposit your FTM by transferring it from an exchange or any other wallet to yourself phantom opera wallet address.
  5. Click “Stacking”.
  6. Add a delegation by choosing a validator and an amount.
  7. Choose your lock-up period and confirm.

There are a few options when it comes to the optimal Phantom wallet. The Phantom Opera Network is a second layer and EVM-compatible blockchain, meaning you can use any wallet that works for Ethereum, such as MetaMask, Coinbase Wallet or a cold wallet like Ledger.

After creating an account on Fantom, you can also download your Phantom Wallet by clicking the “Create Wallet” button:

Phantom Wallet

Where to bet FTM?

In addition to its native blockchain network, Phantom can be hosted on multiple platforms including decentralized exchanges (DEXs) and custodial blockchains. Here we’ll look at places to bet on the Phantom so you can decide which one is the best.

How to Bet Phantom on Ledger

Staking works through smart contract interactions like other transactions through hardware wallets such as Ledger. It is enough to place a bet with the Phantom F Wallet by signing into the Phantom FTM Ledger Nano S application. Then, use the “Stake” menu item in your account.

How to Bet Phantoms on Coinbase

In September 2021, Phantom announced support for the Phantom Network on the Coinbase Wallet. Coinbase Wallet users can access and use the Phantom Network and connect with the Phantom DApp. Users can connect their Coinbase Wallet account to their Fantom fWallet and conduct activities such as Stake FTM and earn rewards.

How to Bet on Phantoms on Binance

To bet FTM on Binance, you need to make a convenient deposit on the exchange, then go to Binance Earn and choose the product that suits you; Usually, this is a lock-up period of 30, 60 or 120 days. You can choose a more extended staking period for higher returns up to 14%.

How to Bet Phantoms on Kucoin

Similarly like on Binance, you need to deposit your FTM token on Kucoin and go to Kucoin Earn. Then click “Subscribe” to choose the product that suits you best, based on rewards and the time you want to lock in your assets.

Is stake in FTM safe?

Staking FTM is safe as validator nodes cannot access your staked tokens; Make sure not to lose your idiom or private key. However, like other proof-of-stake blockchains, you run the risk of losing a fraction of your stake if validators are not reputable and misbehave. It is safe to choose reputable Phantom validators who always have active communities, websites and Twitter accounts.

How to bet other tokens on Phantom

Phantom provides a flexible and dynamic ecosystem that enables multiple DeFi tokens to earn passive income on your investments. In order to stake your native tokens using any of the following systems, you will need a MetaMask or any of the other wallets mentioned above that are connected to the Phantom Opera network. In this case, Phantom Staking acts like a CEX, such as Binance, becoming a market where non-native cryptocurrencies are traded.

Here are some of the most popular tokens that are based on Phantom and can be staked on:

  • scary swap The largest is the DEX on Fantom, with $777 million of TVL and BOO as its native token, which can be combined with FTM for maximum liquidity and farm yields. To bet BOO, buy tokens on an exchange or swap them at Spookyswap; Connect your wallet to Phantom Opera to view your positions and start earning.
  • beethovenx There is a community-powered DEX, an automated market maker (AMM) and a DeFi powerhouse. Governed by the BEETS Native Token and living on the Phantom Opera and Optimism chains, it offers an APR of 31%. To bet Beats, after depositing some FTMs, connect your wallet to Phantom Opera and follow the process of selecting a validator and locking time.
  • QiDao Phantom is an autonomous and community-governed protocol that sits on Phantom and allows you to borrow stablecoins with zero interest against your crypto assets used as collateral. Loans are paid and repaid in miTokens (calculated for the stablecoin soft USD).
  • the Scream There is another decentralized lending protocol powered by Phantom, similar to platforms like mix (comp) and come (AAVE). Users who stake SCREAM tokens can earn around 58% APR, while for liquidity providers, rewards can be up to 82% APR.

how to run phantom node

Verifiers run full nodes and are an important part of the Phantom network. By running a full node, validators participate in consensus to increase security and generate new blocks. There are some technical requirements and skills to be considered for operating a Phantom full node, and it may be more suitable for a technical operator.

Following are the requirements required to run Phantom Full Node:

  • Minimum Requirement: 500,000 ftm
  • Maximum validator size: 15x self-stake amount
  • Minimum Hardware Requirements: AWS EC2 M5.xLarge with four vCPUs (3.1 GHz) and at least 4.5 TB of Amazon EBS General Purpose SSD (GP2) storage (or equivalent).
  • Rewards: Currently ~13% APY (15% of normal APY + delegates’ rewards at self-stakes). The APY varies depending on the % at stake. For up-to-date APY, check Phantom Foundation website,

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

  1. Users can run a node on their own hardware or use a cloud provider. One of the larger cloud providers, such as Amazon AWS, is recommended.
  2. They can set up a non-root user.
  3. Install the necessary construction equipment; Install Go and then Opera.
  4. Register their Phantom validator node on-chain. To do this, users need to create a validator wallet that becomes the identity of the validator in the network, which needs to be authenticated, sign messages, etc.
  5. Run your own node. To do this, they must restart their node in validator mode, then close the Opera window by typing “exit”. Then they need to go back to the window where they started their node with the following command:

(verifier)$ nohup ./opera –genesis $NETWORK –nousb –validator.id ID –validator.pubkey 0xPubkey –validator.password /path/to/password &

users can to quote See Phantom’s instructions for full specifications and details on how to run the validator node.

How much money can you make by betting on Phantom?

If you choose minimum lock-up period (14 days) and minimum amount you can earn 5.01%. The maximum APY currently stands at 15.31% for a maximum lock-up period of 365 days.

FTM Staking Rewards Calculator Let’s guess how much money can be earned by betting on Phantom.

FTM and most crypto tokens have fallen by over 90% during the bear market of 2022; Therefore, placing bets will increase the number of your tokens but not necessarily the overall value. It is also worth considering that staking and locking your tokens can make your funds liquid and difficult to exit a position.

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