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FTT Staking | Can Banks Even Compete With This APY?
- Thomas DeMichele
FTT Staking Basics
FTX filed for chapter 11 bankruptcy on November 11, 2022. Then, on December 13th, FTX Founder Sam Bankman-Fried was Indicted for Fraud, Money Laundering, and Campaign Finance Offenses. Given this we no longer suggest using FTX branded exchanges.
FTT is FTX’s exchange token. FTT staking gets you FTX trading fee discounts, higher commissions, and more below!
This article will cover how to stake FTT on FTX, the benefits of staking FTT, and some other important aspects of FTT so you can (hopefully) become an FTT staking pro!
- Main Benefits Of Staking FTT
- – Increased referral rates
- – Fee rebates
- – Free NFT swag
- – Bonus votes
- – Increased airdrop rewards
- – Free Daily ERC20/ETH Withdrawals
- – IEO tickets
The table below will better illustrate the above FTT staking benefits.
Use FTX referral code “HowToReferral“ to get an additional 5% on fees. With the referral code, staking, and holding FTT you can then get 100% off maker fees and 65% off taker fees!
| Tier | FTT Staked | Referral Rate | Maker Fee Rebate | Bonus Votes | Relative Airdrop Increase | Free Daily ERC20/ETH Withdrawals |
|---|---|---|---|---|---|---|
| 0 | 0 | 25.00% | None | 0 | 0.00% | 0 |
| 1 | 25 | 28.00% | 0.0000% | 1 | 2.00% | 1 |
| 2 | 150 | 30.00% | 0.0005% | 2 | 4.00% | 3 |
| 3 | 1,000 | 32.00% | 0.0010% | 6 | 6.00% | 10 |
| 4 | 10,000 | 34.00% | 0.0015% | 10 | 8.00% | 30 |
| 5 | 50,000 | 36.00% | 0.0020% | 10 | 10.00% | 100 |
| 6 | 250,000 | 38.00% | 0.0025% | 30 | 12.00% | 300 |
| 7 | 1,000,000 | 40.00% | 0.0030% | 50 | 14.00% | 1,000 |
| Tier | FTT Staked | IEO Tickets |
|---|---|---|
| 0 | 0 | 0 |
| 1 | 150 | 1 |
| 2 | 290 | 2 |
| 3 | 420 | 3 |
| 4 | 540 | 4 |
| 5 | 650 | 5 |
| 6 | 750 | 6 |
How to Stake FTT
Next, we will walk you through how to stake FTT skip right to step 3 if you already have FTT.
- Sign Up for FTX if you haven’t already.
- Go to FTX markets, pick an FTT pair, and purchase FTT.
- Go to the FTX page and click “FTT” at the top of the page.
- Scroll down to “FTT staking” and click “stake”.
- Select the amount you want to stake and click “stake”.
After you stake, your FTT will be locked in for at least 14 days since it takes 14 days to unstake FTT. If you have any questions about FTT staking on FTX, let us know in the comments, happy earning!
All users must pass at least KYC 1 to own and stake FTT, and only users who passed KYC 2 will be eligible for SRM rewards.
