How does staking work on the platform and what rewards can be earned from it?

Staking on the Fantom platform is a way for users to earn rewards for helping to secure the network.

Stakers are incentivized to lock up their FTM tokens in order to help validate transactions and maintain the integrity of the network. In return, they receive rewards in the form of newly minted FTM tokens. The staking process begins with users selecting a validator node from a list of available nodes.

The validator node is responsible for verifying transactions and maintaining the integrity of the network. Once a user has selected a validator node, they must then deposit their FTM tokens into a staking wallet. This wallet is used to store their FTM tokens and is also used to track their rewards earned from staking.

Once their FTM tokens have been deposited into the staking wallet, users can begin earning rewards by participating in consensus rounds. During each consensus round, validators compete against each other to be selected as the leader of that round. The leader is responsible for verifying all transactions within that round and receiving rewards for doing so.

All other validators who participated in that round will also receive rewards proportional to their stake size. The amount of rewards earned from staking depends on several factors such as how much FTM was staked, how long it was staked for, and how many consensus rounds were completed during that time period. Generally speaking, users can expect to earn around 5-10% annual returns on their FTM tokens when staked on Fantom’s platform.