Showing posts from October, 2021

My Defi adventure 6: Troubleshoot FTM undelegation on Fantom

Image Why stake on Fantom? The incentive of staking FTM by delegating to a validator on the network is for both staking reward (about 13%) and the usage of minted sFTM (the proof token for staking) as collateral to borrow fUSD. We can subsequently swap it for other synths eg. wFTM. [ Do note that fUSD is NOT pegged to USD, so it is often valued less than USD1 when you try swapping it for other stablecoins  like fUSDT  on Fantom. ] What is crypto staking? [External link] I find that the entire interface of PWA wallet is not intuitive at all. I was kind of in a lost after connecting my wallet, and had to read a walkthrough before I managed to stake and finally get some fUSD. The reward for borrowing fUSD was pathetic, by the way. For sFTM minted, you will be able to find it under Collateral Positions below and fUSD you will find it under Synths Positions on the fMint page. The real hassle came when I wanted to reverse everything and undelegate my

Quick guide: How to on-ramp and off-ramp popular cryptocurrency CEX platforms

Image has recently announced that it no longer offers Singapore users fiat deposit services, spot trading of cryptocurrencies, the purchase of cryptocurrencies through fiat channels and liquid swap (“Regulated Payments Services”). This has caused quite a frenzy for local users to off-ramp their assets on Binance to fiat or to some of these other crypto platforms like Gemini and FTX. Earlier on I have written a post on  Thinking backwards . Before you on-ramp your money to any platform, it is wise to also consider the options available for off-ramping. Photo by Executium on Unsplash Other important considerations when choosing the suitable CEX platforms for your crypto investments would be the security features, ease of use, list of supported cryptos, trading fees and their interest rates / "earn" programmes. Below is a comparison table for fiat on-ramp and off-ramp to some platforms I have used. Do use my referral here  if you are interested to sign up for any of them