Stader sFTMX
Crypto Overview
Overview
Stader sFTMX (SFTMX) is a liquid staking token representing staked FTM (Fantom) tokens in the Stader protocol on the Fantom network. When users stake their FTM through Stader, they receive sFTMX tokens in return.
Purpose and Utility
The primary purpose of sFTMX is to provide users with a liquid representation of their staked FTM tokens. This allows users to maintain liquidity while participating in network validation and earning staking rewards. The token enables users to trade or use their staked position in DeFi applications while their original FTM remains staked.
Business Model and Operations
The protocol operates by accepting FTM deposits from users who wish to participate in network validation. In return, users receive sFTMX tokens that represent their staked position. The system automates the validator selection and management process, distributing staking rewards to token holders.
Development and Adoption
Stader Labs, the team behind sFTMX, has demonstrated ongoing development activity and maintains multiple liquid staking solutions across different blockchain networks. The protocol has gained adoption within the Fantom ecosystem, though exact usage statistics vary over time.
Token Distribution and Governance
The sFTMX token distribution is directly tied to user deposits, with tokens being minted when users stake FTM and burned when they unstake. This creates a transparent and straightforward relationship between the token supply and staked assets.
Crypto Impact
To assign a comfort level investing in Stader sFTMX from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Stader sFTMX.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.