TVL > 100K
What is SpookySwap?
SpookySwap is a beautiful DeFi project and decentralized exchange with AMM in the Fantom ecosystem. This platform is focused on the needs of traders and is managed by the community. To provide the best trading experience, SpookySwap shows detailed analytics with charts and tables from the DeFi ecosystem, including top tokens with price, liquidity, trading volume over 24 hours, and top pairs with liquidity, trading volume & fees over 24 hours, trading volume over 7 days, and as well as transaction information: total value, token amount, contracts. Once a wallet is connected, a user can swap or trade tokens through a liquidity pool. Cryptocurrencies can have a market price or a unique price by limit order. The cost of such a transaction is a trading fee, one part of which is returned to the pool provider and the other to the stacker. Like any DEX, SpookySwap enables liquidity providers to earn income from traders by distributing token fees within a particular pool. Moreover, on the Fantom chain, after getting Spooky liquidity provider tokens, or spLP for short, this proof of contribution can be staked to earn even more tokens, as BOO, by liquidity farms. It is an easy way to compensate for the risk of impermanent loss. For stacking, as noted above, rewards come from trading fees paid by traders.
Who are the founders of SpookySwap?
Not much is known about the SpookySwap team. Two team members, Eerie and ooGwei, with computer science backgrounds, came to SpookySwap from other projects. Also joining the team are No. 4 Type C with design knowledge, Patchwork with business administration skills, Shrimpy developing in art&media arts. In other words, this is a great team with a closed profile. SpookySwap strives to build a fully functional DAO. There is already a voting page for various issues. It is the first step in constructing a management system for the organization, eliminating solo control of everything.
What makes SpookySwap unique?
For the existence and development of any network, it is necessary to have as many dapps as possible, including exchanges. Here is the reason why SpookySwap is especially important for the Fantom network and DeFi as a whole. In addition, the project team has designed a bridge to move cryptocurrencies between different chains. SpookySwap mints its tokens and NFTs. The BOO token can be used as a governance token for the voting system, as collateral for various protocols, or as a stake to get more BOOs. The NFT collection from SpookySwap consists of the Magicats set, which has a lot of magical cats to help make extra money on SpookySwap.
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