sFTMX is a liquid token that you get when you stake your FTM with Stader. The sFTMX tokens are a representation of your staked FTM. They allow you to swap them at a later date for your staked FTM and accrued rewards with Stader. Meanwhile, you will be able to use it on multiple protocols on Fantom to participate in DeFi.
sFTMX is a cToken that continues to increase in value relative to FTM as staking rewards get accrued. To illustrate the above explanation, here is a video.
What are the top highlights of sFTMX?
~13.5%+ APY: sFTMx will deliver maximum staking rewards, typically reserved for 365 day lock-ins, while also allowing for instant liquidity on DEXs
Max DeFi interoperability: sFTMx’s cToken design allows for easy integration with all types of DeFi prtocolos — from DEXs to Lending/ Borrowing protocols to Yield Optimizers (from vaults to auto-compounders to leveraged yield farming). This means the staking rewards are only the beginning of sFTMx’s potential.
Decentralization: When you stake with Stader, your assets are automatically distributed across a carefully chosen set of validators. This furthers Fantom decentralization while minimizing slashing risks.
Where can I use sFTMX?
We have worked on an extensive list of partners who will support sFTMX. They will become available at the time of uncapped launch. The categories of partners will include DEXs, yield farming, lending/borrowing protocols and more.
The following list of partners will go live for the uncapped launch (3–7 days after capped launch on 21st April, 2022)
sFTMX liquidity pools on Spookyswap, Beethoven X and Spiritswap
sFTMX yield farming on Liquid Driver, Reaper Farm, Tarot
sFTMX lending/borrowing on Market.xyz, Creditum
Many more to come!
Is sFTMX audited?
At Stader, the security of your assets is our top priority. In fact, we’ve undergone a total of 10+ audits across all the chains we’re currently deployed on. For Fantom specifically, we’ve already received our final audit report from Peckshield, the industry leading blockchain security firm, and got a clean bill. You can check the audit reporthere. In parallel, we are undergoing another additional audit with a top security firm which is near completion.