How to Stake Sonic (prev. FTM) (S): A Comprehensive Guide for Australians

Introduction

Staking Sonic (prev. FTM) can be a great option for those who want to hold S while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. Obtain Sonic (prev. FTM) (S) Tokens

To stake Sonic (prev. FTM), you need to own it. To obtain Sonic (prev. FTM), you'll need to buy it. You can choose from these popular exchanges.

Platform	Coin	Cost
Nexo	Sonic (prev. FTM) (S)	0.07
PrimeXBT	Sonic (prev. FTM) (S)	0.07
YouHodler	Sonic (prev. FTM) (S)	0.07
Binance	Sonic (prev. FTM) (S)	0.07
Coinbase	Sonic (prev. FTM) (S)	0.07
Kraken	Sonic (prev. FTM) (S)	0.07

See all 41 prices

2. Choose a Sonic (prev. FTM) Wallet
Once you have S, you'll need to choose a Sonic (prev. FTM) wallet to store your tokens. Here are some great options.
Platform Coin Staking returns
Binance Sonic (prev. FTM) (S) Up to 3.5% % p.a.
View all 5 staking rewards
3. Delegate Your S
We recommend using a staking pool when staking S. It's simpler and quicker to get started. A staking pool is a group of validators who combine their S, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Begin Validation
You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the Sonic (prev. FTM) network. You'll be rewarded with S for these validations.

Platform	Coin	Staking returns
Binance	Sonic (prev. FTM) (S)	Up to 3.5% % p.a.

What to Be Aware Of

There are transaction and staking pool fees to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.