SpookySwap
SpookySwap is a decentralized exchange native to Fantom that allows anyone to trade crypto assets and provide liquidity to earn trading fees.
- Documentation
- Auditors
- Please see our FAQ on experienced auditors
- Website
- Token: BOO
- Tags: Market Making
- TVL: $31.5M (Rank #107)
- TVL Ranking by Market Making: #0
- Blockchain: Fantom, Horizen EON, EON, Bittorrent
- Chain TVL
- Fantom: $28.21M
- Horizen EON: $3.08M
- EON: $1.96M
- Bittorrent: $196.29K
- Code reviewed by at least one experienced auditor; CertiK audited in June 2021
- Anonymous team reduces transparency
- No documented protocol hacks since launch
- Core protocol launched in 2021; maturity over one year minimizes technical risk as smart contracts are well battle-tested
- Top 5% by total value locked reduces risk
- Core contracts require on-chain voting for parameter updates
- At least one critical governance issue documented
- Low voting power concentration reduces risk
- No death spiral concerns
- This protocol is susceptible to risks related to decentralized exchanges (DEXs), such as impermanent loss
- Spookyswap is a Uniswap fork implemented on the Fantom chain
How Spookyswap works
Spookyswap is an automated market maker (AMM) built on Fantom to leverage its faster speed and low gas fees. AMMs rely on liquidity pools rather than traditional order books to execute decentralized trades. The liquidity pools are funded by users who deposit two tokens in equal proportion in exchange for a liquidity provider (LP) token that represents their claims to their share of the total pool, plus a portion of trading fees. On Spookyswap, users can earn additional yield by locking up their LP tokens to farm for native protocol tokens.
How Spookyswap makes money
Spookyswap charges a 0.2% fee on all trades within a liquidity pool. Of this amount, 0.17% is paid to LPs as a reward for providing liquidity and 0.03% to BOO stakers (xBOO). The protocol uses the earned fees to market buy BOO and distributes it to xBOO holders.
How you make money on Spookyswap
You can provide liquidity to earn 0.17% of trading fees on Spookyswap. You can also stake BOO (xBOO) on the platform to earn 0.03% of all protocol fees.
