Review SpookySwap ($BOO) – The Largest DEX on the Fantom Blockchain Platform with Limit Orders Feature

SpookySwap is the largest decentralized exchange (DEX) on the Fantom blockchain platform in relation to the total value locked.

What is SpookySwap ($BOO)?

SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) on the Fantom Opera network. SpookySwap has a strong foundation with BOO as a governance token, diverse farms, a built-in bridge, limit orders, and user-centered services. SpookySwap offers the lowest swap costs on Fantom for trading cryptocurrencies, as well as a user-friendly interface for bringing liquidity into the platform.

Outstanding Features

What is the project trying to achieve?

SpookySwap DEX utilizes an AMM (Automated Market Maker) to provide liquidity in liquidity pools. As with Uniswap, the prices are determined automatically and are dependent on the number of available tokens in a liquidity pool. SpookySwap is unusual in that it allows for limited orders; you may make a purchase order for a specific price, and it will be executed only when or if that price is attained. This means you will not be charged until your order is processed. This feature significantly increases trading flexibility and helps traders to plan ahead.

What is the unique selling point?

Swap

Token swaps on SpookySwap are a simple way to trade one token for another via automated liquidity pools. On Spooky, you can trade at market price, or set a specific price for a limit order that can be triggered 24/7! Limit orders are orders where you can place a buy or sell order at a certain price, and if the market reaches that price, the buy or sell will happen. Limit orders can be useful to “buy the dip” or accumulate at a lower price or To “take profit” or sell at a higher price

When you swap (trade) on the exchange, you will pay a 0.2% trading fee (0.22% for limit orders), of which 0.17% is returned to liquidity pools as a reward for liquidity providers and 0.03% to xBOO Stakers. None of this fee is going to the treasury or dev fund like traditional DEXs.

Liquidity

Adding liquidity allows the contributor to earn 0.2% swapping fees from the pairs they’ve provided. You can supply liquidity and start earning fees. Your liquidity can earn even more rewards (BOOs) if they’re staked at farms!

When you’ve provided liquidity, you will receive spLP tokens (Spooky Liquidity Provider tokens) as proof of contribution. These spLP tokens can be staked at farms to earn BOO. It has 19+ pairs for you to stake, the most diverse farms on the Fantom chain.

Liquidity Farms

The Liquidity farm is the place to stake your spLP (Spooky Liquidity Pair tokens) to earn BOOs. These farms provide incentives to people providing liquidity to SpookySwap and help offset Impermanent Loss risk.

xBoo (Staking)

You can stake your BOOs to earn more BOOs. When you do so, you will receive a buyback BOO token, xBOO,

xBOO earns a percentage of trade fees to buy back BOO. Your balance of xBOO won’t be changed, but the ratio of xBOO to BOO will infinitely grow over time as it buys more BOO. With the xBOO you, you can stake to earn other tokens in the pool list. The xBOO tokens that you’ve staked will continue to participate in the Buyback Pool and earn BOOs.

In short, the cycle looks like this:

Buy/Farm BOOs -> Stake BOO in xBOO/buyback pool, receive xBOO as receipt -> Stake xBOO in pools to earn other protocols’ token -> Provide LP in the partner protocol’s farm to earn more BOOs -> Repeat

Bridge

SpookySwap’s bridge supports moving tokens from Ethereum, BSC, Arbitrum, Avalanche, and Polygon to Fantom and vice versa. Currently Supported Tokens for Bridging to and from Fantom:

  • Ethereum AAVE, BADGER, BAND, BOO, CFI, COVER, CREAM, CRV, DAI, DOLA, FONT, FTM, fUSDT, FXS, GTON, HND, ICE, INV, KEK, LINK, MIM, MODA, ONX, OOE, SNX, SPELL, SUSHI, TOMB, TUSD, USDC, wBTC, wETH, WOO, WOOFY, YEL, YFI
  • Binance Smart Chain BIFI, BNB, DAI, FTM, fUSDT, JulD, MAI, MIM, TOMB , USDC, wETH
  • Polygon BIFI, DAI, fUSDT, IronICE, MAI, MATIC, TOMB , USDC, wETH
  • Avalanche BIFI, BOO, DAI, fUSDT, JOE, MAI, MIM, SPELL, TOMB, USDC.e, wETH
  • Arbitrum BIFI, HND, MAI, MIM, USDC
  • Harmony BIFI, FTM, HND, MAI
  • Cronos BIFI, FTM, MAIOECUSDC, fUSDT

NFTs / Magicats

Magicats is the Genesis limited series of generated non-fungible-tokens(NFTs) from SpookySwap’s lead artist. Magicats, will mint 5000 NFTs utilizing over 125 unique art assets. Additionally, each NFT will have a unique name and description generated to complement the lore around Grim’s world. The Magicats series will also feature thirteen (13) 1 of 1 NFTs in the set of 5000.

Roadmap

The roadmap lays out the planned features for Spooky. Updated here

Technical Data

Token Metrics

  • Token Name: SpookySwap
  • Ticker: BOO
  • Blockchain: Fantom
  • Token Standard: FRC20
  • Contract: 0x841fad6eae12c286d1fd18d1d525dffa75c7effe
  • Token Type: Ultility, Governance
  • Total Supply: 13,666,000
  • Circulating Supply: 5,885,000

Token Allocation

Token Sale

Updating…

Token Release Schedule

  • After the initial 20% mint, the remaining 80% of BOO will be distributed over 3 years.
  • The majority of the total supply (72.7%) will go to liquidity providers as farm awards
  • 3.3% of the total supply will go to developer funds and 2.0% will go to monthly grants.
  • BOO emissions decline monthly.  For instance, in April 2021, 1,157 BOO is emitted per hour while in April 2024, hourly boo emissions will decline to 128.

Token Use Case

  • Providing Liquidity
  • Farming
  • Governance on voting on changes to the protocol

Market and Community

Backers

Team

Updating…

Partners

Investors

Updating…

Verdict

The SpookySwap DEX is the Fantom dApp with the highest transaction volume and is likely to stay at the top for an extended period of time. It adds services that were previously unavailable on Fantom and gives users several opportunities for yield farming and earning more cryptocurrency.

Find more information:

Website: https://spookyswap.finance/

Twitter: https://twitter.com/SpookySwap

Telegram: https://t.me/SpookySwapCommunity

Discord: https://discord.com/invite/spookyswap

Docs: https://docs.spookyswap.finance/

Medium: https://spookyswap.medium.com/

Reddit: https://www.reddit.com/r/SpookySwap/

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures

Review SpookySwap ($BOO) – The Largest DEX on the Fantom Blockchain Platform with Limit Orders Feature

SpookySwap is the largest decentralized exchange (DEX) on the Fantom blockchain platform in relation to the total value locked.

What is SpookySwap ($BOO)?

SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) on the Fantom Opera network. SpookySwap has a strong foundation with BOO as a governance token, diverse farms, a built-in bridge, limit orders, and user-centered services. SpookySwap offers the lowest swap costs on Fantom for trading cryptocurrencies, as well as a user-friendly interface for bringing liquidity into the platform.

Outstanding Features

What is the project trying to achieve?

SpookySwap DEX utilizes an AMM (Automated Market Maker) to provide liquidity in liquidity pools. As with Uniswap, the prices are determined automatically and are dependent on the number of available tokens in a liquidity pool. SpookySwap is unusual in that it allows for limited orders; you may make a purchase order for a specific price, and it will be executed only when or if that price is attained. This means you will not be charged until your order is processed. This feature significantly increases trading flexibility and helps traders to plan ahead.

What is the unique selling point?

Swap

Token swaps on SpookySwap are a simple way to trade one token for another via automated liquidity pools. On Spooky, you can trade at market price, or set a specific price for a limit order that can be triggered 24/7! Limit orders are orders where you can place a buy or sell order at a certain price, and if the market reaches that price, the buy or sell will happen. Limit orders can be useful to “buy the dip” or accumulate at a lower price or To “take profit” or sell at a higher price

When you swap (trade) on the exchange, you will pay a 0.2% trading fee (0.22% for limit orders), of which 0.17% is returned to liquidity pools as a reward for liquidity providers and 0.03% to xBOO Stakers. None of this fee is going to the treasury or dev fund like traditional DEXs.

Liquidity

Adding liquidity allows the contributor to earn 0.2% swapping fees from the pairs they’ve provided. You can supply liquidity and start earning fees. Your liquidity can earn even more rewards (BOOs) if they’re staked at farms!

When you’ve provided liquidity, you will receive spLP tokens (Spooky Liquidity Provider tokens) as proof of contribution. These spLP tokens can be staked at farms to earn BOO. It has 19+ pairs for you to stake, the most diverse farms on the Fantom chain.

Liquidity Farms

The Liquidity farm is the place to stake your spLP (Spooky Liquidity Pair tokens) to earn BOOs. These farms provide incentives to people providing liquidity to SpookySwap and help offset Impermanent Loss risk.

xBoo (Staking)

You can stake your BOOs to earn more BOOs. When you do so, you will receive a buyback BOO token, xBOO,

xBOO earns a percentage of trade fees to buy back BOO. Your balance of xBOO won’t be changed, but the ratio of xBOO to BOO will infinitely grow over time as it buys more BOO. With the xBOO you, you can stake to earn other tokens in the pool list. The xBOO tokens that you’ve staked will continue to participate in the Buyback Pool and earn BOOs.

In short, the cycle looks like this:

Buy/Farm BOOs -> Stake BOO in xBOO/buyback pool, receive xBOO as receipt -> Stake xBOO in pools to earn other protocols’ token -> Provide LP in the partner protocol’s farm to earn more BOOs -> Repeat

Bridge

SpookySwap’s bridge supports moving tokens from Ethereum, BSC, Arbitrum, Avalanche, and Polygon to Fantom and vice versa. Currently Supported Tokens for Bridging to and from Fantom:

  • Ethereum AAVE, BADGER, BAND, BOO, CFI, COVER, CREAM, CRV, DAI, DOLA, FONT, FTM, fUSDT, FXS, GTON, HND, ICE, INV, KEK, LINK, MIM, MODA, ONX, OOE, SNX, SPELL, SUSHI, TOMB, TUSD, USDC, wBTC, wETH, WOO, WOOFY, YEL, YFI
  • Binance Smart Chain BIFI, BNB, DAI, FTM, fUSDT, JulD, MAI, MIM, TOMB , USDC, wETH
  • Polygon BIFI, DAI, fUSDT, IronICE, MAI, MATIC, TOMB , USDC, wETH
  • Avalanche BIFI, BOO, DAI, fUSDT, JOE, MAI, MIM, SPELL, TOMB, USDC.e, wETH
  • Arbitrum BIFI, HND, MAI, MIM, USDC
  • Harmony BIFI, FTM, HND, MAI
  • Cronos BIFI, FTM, MAIOECUSDC, fUSDT

NFTs / Magicats

Magicats is the Genesis limited series of generated non-fungible-tokens(NFTs) from SpookySwap’s lead artist. Magicats, will mint 5000 NFTs utilizing over 125 unique art assets. Additionally, each NFT will have a unique name and description generated to complement the lore around Grim’s world. The Magicats series will also feature thirteen (13) 1 of 1 NFTs in the set of 5000.

Roadmap

The roadmap lays out the planned features for Spooky. Updated here

Technical Data

Token Metrics

  • Token Name: SpookySwap
  • Ticker: BOO
  • Blockchain: Fantom
  • Token Standard: FRC20
  • Contract: 0x841fad6eae12c286d1fd18d1d525dffa75c7effe
  • Token Type: Ultility, Governance
  • Total Supply: 13,666,000
  • Circulating Supply: 5,885,000

Token Allocation

Token Sale

Updating…

Token Release Schedule

  • After the initial 20% mint, the remaining 80% of BOO will be distributed over 3 years.
  • The majority of the total supply (72.7%) will go to liquidity providers as farm awards
  • 3.3% of the total supply will go to developer funds and 2.0% will go to monthly grants.
  • BOO emissions decline monthly.  For instance, in April 2021, 1,157 BOO is emitted per hour while in April 2024, hourly boo emissions will decline to 128.

Token Use Case

  • Providing Liquidity
  • Farming
  • Governance on voting on changes to the protocol

Market and Community

Backers

Team

Updating…

Partners

Investors

Updating…

Verdict

The SpookySwap DEX is the Fantom dApp with the highest transaction volume and is likely to stay at the top for an extended period of time. It adds services that were previously unavailable on Fantom and gives users several opportunities for yield farming and earning more cryptocurrency.

Find more information:

Website: https://spookyswap.finance/

Twitter: https://twitter.com/SpookySwap

Telegram: https://t.me/SpookySwapCommunity

Discord: https://discord.com/invite/spookyswap

Docs: https://docs.spookyswap.finance/

Medium: https://spookyswap.medium.com/

Reddit: https://www.reddit.com/r/SpookySwap/

If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.

DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.

Marshall

Coincu Ventures

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