Frequently asked questions
What is staking?
Staking is the process of securing the network via locking up your tokens. It serves the same purpose as mining in a Proof-of-Work network such as Bitcoin.
Validator nodes validate transactions and the staked tokens act as an economic incentive for stakers to play by the rules of the protocol.
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 anytime.
Why should I stake?
By staking, you actively participate in securing the network. You will earn passive income by getting rewarded in FTM.
What wallets can I use?
You can use Fantom mobile wallets (iOS and Android) or the web/desktop version.
Are my tokens safe when I stake?
Yes. Nobody except you will have access to your tokens. Make sure not to lose your mnemonic phrase or private key.
Can I lose my tokens when staking?
If you stake to a validator node that acts maliciously, you can lose all your staked tokens. It is important that you choose the validator node wisely and make sure they’re reputable.
Can a validator run away with the money?
No. In any case, a validator does not have access to any other tokens than its 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’s not helping secure the network anymore. When it comes back online, the rewards resume.
Can I delegate multiple times?
You can delegate as many times as you want, as long as you use a different address every time. At the moment only one delegation per wallet is possible.
Can I use my tokens while staking?
No, you cannot use your tokens while staking. To withdraw them, you have to unstake them first. Unstaking takes 7 days.
What happens if I unstake my tokens during the lockup period?
If you unstake your tokens during the lockup period, you will lose the rewards and those rewards will be burned.
How long does it take to unstake my FTM?
It takes 7 days. During that time you will not receive rewards. Once the 7 days pass, you can withdraw the tokens from your wallet.
Why are there unbonding times?
Long unbonding periods create stability in the network and prevent attackers from withdrawing their stake before the effects of their attack is reflected on the market
Does my computer have to always be connected to stake?
Not at all. Staking happens on-chain, so it’s completely independent from your computer, mobile device or wallet. Once you have staked your tokens, you can safely log out from your wallet and if you want you can periodically access it to check your rewards balance.
