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Fantasm Finance is a DeFi platform focused on building and expanding access to synthetic tokens within the Fantom Ecosystem. FSM serves as the protocol utility token. When a user creates xFTM, they deposit FTM into the protocol; the FSM required for that minting is then burned. During redemption of xFTM, the protocol returns FTM and creates the amount of FSM needed. The FTM-to-FSM token relationship used in both minting and redeeming is set by the Collateral Ratio.
FSM token holders may either stake their FSM (with no lockup) or lock it for an 8 weeks Lockup period. After choosing to lock, the user cannot withdraw their FSM until the 8-week period ends. It is NOT possible to exit early from a locked position by paying a penalty.
Earnings come in 2 forms: rewards in FTM and rewards in FSM tokens. Earning both FTM and FSM tokens is available only to users who choose to LOCK their FSM.
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