SpookySwap

Market Making

SpookySwap is a decentralized exchange native to Fantom that allows anyone to trade crypto assets and provide liquidity to earn trading fees.

Risk Rating

Average

Protocol Code Quality

Protocol Maturity

Protocol Design

What is SpookySwap?

What we like

Spookyswap is a decentralized exchange with lower gas fees and offers a wide range of crypto assets so anyone can become a liquidity provider on Fantom.

What we like less

Spookyswap offers more exotic long-tail assets that may be exposed to fundamental security risks and rug pulls. This would result in a two-sided liquidity pool being completely drained in the event of bad actors or any exploits.

What it means for you

Offers an attractive marketplace for you to earn yield due to its high total value locked (TVL) and significant volume.

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Information

Exploit/Hacks

None

Documentation
Auditors
- CertiK
- Audits
Please see our FAQ on experienced auditors

Info

Website
Token: BOO
Tags: Market Making

Key Metrics

TVL: $18.5M (Rank #147)
TVL Ranking by Market Making: #0
Blockchain: Fantom, EON, Horizen EON, Bittorrent
Chain TVL
- Fantom: $16.51M
- EON: $1.96M
- Horizen EON: $1.8M
- Bittorrent: $198.43K

Risk Assessment

Average

Protocol Code Quality

Code reviewed by at least one experienced auditor; CertiK audited in June 2021
Anonymous team reduces transparency
No documented protocol hacks since launch

Protocol Maturity

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

Protocol Design

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

Things to know about SpookySwap

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.