If people use the official Fantom wallet known as fWallet, they can easily stake their FTM tokens within its staking feature. By doing this, choosing a desired delegation is required. However, to unstake FTM, people need to wait for 7 days before withdrawal is available. To unstake FTM, all pending rewards need to be claimed in advance, which might take several times for all rewards claimed.
As the development of Fantom’s ecosystem, nowadays there are more options for FTM token utilities. I am going to introduce two defi platforms which might be helpful for staking and yield farming with FTM tokens.
The first one is Popsicle Finance. It is a new-launched cross-chain yield enhancement platform focusing on AMM liquidity provider. It currently supports Ethereum, BSC and Fantom network. ICE token is the native token of Popsicle Finance, and therefore rewards are given as ICE tokens. There are several pools available on Popsicle. For people who have FTM tokens could consider ICE/FTM pairs. If you need some ICE tokens as well, I would recommend going to Sushiswap if you are using Fantom network. I used to go to Anyswap doing FTM/ICE LP, but looks fail providing LP when back to Popsicle. Hope that the issue has been solved. For BSC users, Pancakeswap is much better to swap for ICE and the slippage is low.
Tips: Do not deposit all of your ICE/FTM LP as it would fail. Remain a little LP in your wallet will work fine.
The second one for Fantom network staking is Modefi. Currently there are two staking methods including MOD staking and MOD/FTM LP staking. Be aware that staked tokens are locked for 30 days. If you need some MOD tokens to do this task, you might consider going to Anyswap to get some.
By the way, the above staking method does not work by using fWallet. Therefore, make sure to connect with METAMASK via Fantom network.
I am glad to see Fantom’s ecosystem is developing. One of the top reasons for using Fantom is to save lots of transaction fees. However, always remember to do your own research before investment.
