Jump to content

How to Stake Fantom and mint Synthetics to Mint more Fantom to Stake Even More Fantom [guide]


Recommended Posts

How to Stake Fantom and mint Synthetics to Mint more Fantom to Stake

Use caution and common sense for staking and borrowing against all of this stuff to keep staking over and over. I came across some posts saying to keep the C-Ratio above 600% so lets be on the safe side and stick with a number above 600%. Price fluctuates so use caution and know its possible to get locked out of the account if everything gets rekt. But does it matter if this goes to 0 then? I have no idea, so with all that in mind lets get to staking the Fantom. You might want to read this a few times to see what's going on.

Have some balance in FTM. Needs more than 2, so go get a nice stack of FTM from somewhere. I am screenshotting the whole thing so its easier to follow.

Go to the Staking tab and click + Add Delegation

image.thumb.png.3d2756f4e44b3edbb306202b7bf7b450.png

Pick an amount and keep 2 FTM always on hand. I have 20 in this wallet and will choose 15. Then select a validator.

image.thumb.png.ebbb4cb8c32aa157202b9ad828d86b72.png

Choose your validator. For now lets go with the one with the most FTM staking and then click Select.

image.png.087fa93771d643efee63eddf6b759599.png

Click Continue to delegate.

image.thumb.png.e1a758f9794b779c11db7ba364e86067.png

Then click Delegate.

image.thumb.png.9e92bd45fcaf946dc259b9cbb614b1e3.png

Click continue after verifying.

image.png.eb2dddf6fde484520a6163472ea2574e.png

Lock Delegation and this is where you choose minimum of 14 days and maximum of 131 days for this lock. If you unlock early you will burn your rewards. So choose 14 days if you want to just test this out.

image.thumb.png.e3d1c0b4f58b31677042af9a2ea4928b.png

Lets lock until July 4th. Slide for days and click Ok, lock

image.thumb.png.a0483fb553c695226e164c59d8d22232.png

Click Lock

image.thumb.png.2c39a3a688e64acf720835a3542beb33.png

Delegation is successful and click Continue.

image.png.180ec5eb663c49733a541d2ff64b8442.png

Mint sFTM to start the synthetic part to go into fUSD.

image.thumb.png.5bd5bdfbf10f19e72f52a0d569597e48.png

Click Submit

image.thumb.png.02d8a4332e9831e440c22979d5023260.png

Transaction Sent, click Continue

image.png.4e5ba6aee201f0b7f364d8cd76363edc.png

Go to the Defi tab to start fMint to mint fUSD

image.thumb.png.ab81e70ae2fe946c13d259290406005e.png

Click Lock Collateral

image.thumb.png.ba004548b04b7eeab2243b28955639b5.png

Click the wFTM and change to sFTM

image.thumb.png.9930d2f86d2dcf8c04c4c7347a4443cb.png

Drag the slider for all of the sFTM and click Submit.

image.thumb.png.4b4db0a2a1714c3fd8852769f684b38a.png

Click submit

image.png.9e2e06d88573dcfaf83cd8271d8fa4d7.png

Click Submit again

image.png.1ab87bd25e848e6fff900127cc5fcd22.png

 

Success, click Close

image.png.0b125a2e3b78fa371890b49b5db002cd.png

Go back to the fMINT tab and click Mint Synths

image.thumb.png.12d7d208222d2758a12b73a05137761b.png

This is the important step. Move the slider so you stay above C-Ratio 500% to earn wFTM on this fUSD. 600% has been hinted at so lets use 610% to be on the safe side. You don't want to drop below 300% for your C-Ratio. Click submit.

image.thumb.png.e95654cba2a0c20d68d3d0d7efa083d3.png

Click submit, this part is either slow or takes a while. So just wait, if you get an error try again, but seems like during writing this guide its taking more than 5 minutes on this step.

image.png.8667a7a04e91749d13e2ed9e1c3db34a.png

An example of when it glitches out and I get stuck and why I have been waiting to write this guide. And of course won't get further. I will switch to another address so this guide exists until the congestion calms down.

image.png.8f8b7ce682015f5b9f1da7b6fcf13f1f.png

 

Note I am switching wallets here so numbers won't match above. But should get the idea of what's going on next.

Take note, the fUSD sitting in the wallet now is earning wFTM also as long as the C-Ratio stays above 500%. You are now minting FTM from the staking delegation and wFTM from the fUSD minting.

Once you show fUSD minted go to the fUNI tab and select the bottom token as fUSD and click the arrow to swap the trade around.

image.thumb.png.40574ea4b234add0df59f750a40a56f7.png

Select token as fUSD

image.png.45fbf7bc0797b95e6238d2efb63b5ba9.png

Type in the amount of fUSD or click Max, then click Swap.

image.png.2994788166e8b5ac5a4461b9a2d0e9ab.png

Continue to Next Step

image.thumb.png.782f5763bcd7a39347527b740acd92aa.png

Confirm Swap and click Submit

image.png.eda0653c65260e1fc6553e051d61667a.png

Success, click Continue

image.png.54997307fa1ae9acc4648c6d175c4e3e.png

We can now play with wFTM. I am just swapping wFTM into FTM and restaking again. And then minting sFTM and repeating this whole guide over and over. You can also go long and short with this borrowing part.

image.png.517e15ac954ad27ab77e7fb24b9c2cae.png

Go back to the Defi tab and click fSwap

image.thumb.png.73281e6f173158e5f90c689e35e6afa0.png

Click the arrow to swap because I want wFTM to FTM

image.thumb.png.7ea188681a5d68408246e72d559f4d23.png

I also want my whole FTM so I slide to 100%, careful here. You are borrowing FTM based on the loaned fUSD.

image.thumb.png.59edf15baf5bbb28cd55c8b34272a266.png

Click submit

image.thumb.png.10a207f1d2df5ac7254f4d6899e60b58.png

Click continue

image.png.d75d3e4c03ba0cb699f99a402533e9e2.png

You now have some extra FTM.

image.thumb.png.bb7f86fdfaf548388c39759302f4d4d2.png

At this point use your imagination. What I did was go back to staking and delegate this new amount and do all of this over and over again. Dangerous? Maybe, but I look at this as the Yolo chain.

  • Denarius 1

If you enjoy my content please consider donating to the Denarius creator - https://www.patreon.com/carsenk
Join Denarius Discord - https://discord.gg/JQEmXwb

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...