SPOOKYSWAP

SpookySwap is an automated market-making decentralized exchange for the Fantom Opera network. To have a  strong foundation they have their $BOO token as a governance token and user-centered service. It was launched in April 2021 and its developments in the field of Decentralized Finance are just amazing.

Without wasting any time let us get into the spooky world

1. To use Spooky Swap, you need a MetaMask wallet connected to the Fantom Opera Network. Here is a link if you want to  know about MetaMask https://metamask.io/
2. MetaMask supports the Ethereum network by default, but when you connect SpookySwap, it will automatically configure MetaMask to work with Fantom Opera
3. To perform transactions on Spooky or any other Fantom protocols, you will need FTM for gas.
   
   
   
   

SERVICES OFFERED

SpookySwap, we have it in the name, the first and the best thing that Spooky provides is the option to trade one token for another different token via automated liquidity pools.

When you trade on the exchange you pay a 0.2% trading fee, of which 0.17% is returned to liquidity pools as an incentive for liquidity providers and 0.03% to $BOO Stakers.

Let us get deep and figure out how to swap

1. Connect your MetaMask wallet, MetaMask will ask your permission to switch networks.
2. Go to ‘Swap’ and choose the tokens which you have and select the token which you want to trade for.
3. Most of the Tokens are in the default list but if you don't find yours then you can just add it by entering the address in the search box.
4. Click on the approve button, and your wallet will ask your permission to approve.
5. After a few seconds, the Swap button will be enabled and there you go, click on it.
6. You will see the transaction submitted screen and HURRAY! SWAP SUCCESSFUL.
   

You can also make a Limit Order, Limit orders are where you can submit a buy or sell order at a specific price, if the market reaches your price, the buy or sell will activate automatically.  Limit orders only take fees when they are executed, they can be canceled and placed without any fees.

1. Just click on this Swap button and there will be an option of ‘Limit order’ beside Market.
2. Do the selections as you had done in the swapping section and this time you will be presented with the projected minimum received price impact, and gas fees(0.22%).
3. ‘Place order’ and done.
   

Let us know about more services provided by SpookySwap

LIQUIDITY

Adding Liquidity allows the contributor to earn 0.2% swapping fees from the pairs they have provided, your liquidity can earn even more when they are staked at farms, more about FARMS, later.

When you have provided liquidity, you will receive spLP tokens as proof of contribution. These tokens represent a proportional share of the pooled assets.

HOW TO ADD LIQUIDITY

By adding liquidity, you are putting an equal USD value of 2 ingredients to make LP tokens.

Here's how to do it:

1. Connect your wallet, go to liquidity - add
2. Select the tokens from the list, if you don’t find your desired token by typing out the address in the search bar.
3. Similarly, select the second token to which the LP(Liquidity provider) token should be supplied.
4. Enter the amount and see the projection in the second token section.
5. Click on the supply button if you are satisfied with the trade, you will receive a confirmation page, it usually takes a few seconds to pop up
6. Now you can check that your liquidity has been made by going to ‘My Potions’ and you can manage them.

Hurray! Now You Can Start Earning The Fees.

LIQUIDITY FARM

Here is the part that I was talking about previously, where you can stake your spLPs to earn $BOOs. These farms provide incentives to those providing liquidity to SpookySwap.

18+ Farms are being supported by SpookySwap.

HOW TO STAKE LIQUIDITY

1. You should have already provided liquidity to a Liquidity Pool that is available for rewards. It is going to be easy, relax!!
2. Find the pair you wish to farm and make the spLP for that token on the Liquidity page. If you are doing it for the first time, then approve your wallet.
3. Click on the stake button and decide the number of spLP tokens you desire to stake.
4. Click on the confirm button, and do the transaction necessary to stake the tokens.

You can view your farm status in your portfolio

You earn the swapping fees when someone swaps between the pair you have provided. The amount of your spLP won’t increase but the value they represent will surely increase.

SINGLE STAKE POOLS

A Single-stake pool is where only one type of token is needed to stake. No LP token making is required, but the concept is similar to making an LP.

By staking $BOO, you immediately receive $BOO tokens as proof, which you can stake in partner pools to earn other tokens.

In short, the cycle looks like this:

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

The buyback single-stake pool is where you can stake your $BOO and receive $BOO tokens. It only requires 1 ingredient, $BOO, hence the name "single-stake". With the $BOO you receive, you can stake to earn other tokens in the pool list. The $BOO tokens that you've staked will continue to participate in the Buyback Pool and earn more $BOOs! When you stake your $BOOs into $BOO (in the Buyback $BOO Pool) and then into a pool listed, you are earning a sum of the APRs!  

You will receive a $BOO token which represents your share of the pool. The number of your $BOO tokens won't go up, however, the value of each $BOO will go up infinitely because of the trading fees buying back $BOO, which is then sent to the pool.

BRIDGE

The best part of SpookySwap is the option to Bridge  SpookySwap's bridge supports moving tokens from Ethereum, BSC, Arbitrum, Avalanche, and Polygon to Fantom and vice versa.

Here is the link where you can check the available tokens for you to Bridge https://docs.spookyswap.finance/products/bridge

Here are the steps to BRIDGE

1. Select networks for Bridge direction

1. Select token to Bridge
2. Enter the Amount

1. Click the ‘Bridge token’ button
2. After Bridging, if you are looking forward to trading some tokens, farm on rich soil, just like any other chain, you'd need some FTM for gas to perform transactions. Luckily you can get some free gas from the SpookySwap Discord.
3. Here is a link that might help you get free Fantom gas

https://docs.spookyswap.finance/getting-started/how-to-get-fantom-gas

NFTs, MAGICATS

As a response to the high demand for art related to SpookySwap's mascot cat characters, Grim and Ace, Spooky is releasing official NFTs!

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.

The Official SpookySwap NFTs on ZOO have 2 types, web assets, and emojis. For free Magicats, only those with a web asset NFT at 25 October 2000 UTC, block 1635192000 can claim one for each web asset NFT owned.

Emoji NFTs can be earned through giveaways or SpookySwap events, or bought on marketplaces.

SPOOKY CONTRACTS

All SpookySwap contracts are non-upgradeable and have zero pausing functionality of any kind.

They do not have a timelock due to ZERO admin privileges affecting user funds. Admin privileges consist only of administrative things such as changing farm weights or adding new farms.

Here you can have a look at all the contracts

https://docs.spookyswap.finance/contracts-1/contracts

THE ROADMAP

Ongoing

1. Regular partnered staking pools and farms
2. Regular farm adjustments based on performance
3. Regular token whitelisting
4. Regular website bug fixes and quality of life updates

Upcoming

1. CEX Listing & $BOO Price Feed with Band and/or Chainlink
2. Magicat staking to $BOOst yield
3. Solidly NFT utilization
4. SpookySwap V2 aka Secret DEX upgrade (Defi primitive)
5. Expert Trader V2 - Token Watchlist, Market orders in Orders page, infinite swap/liquidity history
6. Farms as a service - Permissionless ability for new projects to deploy a farm
7. Masterchef V2 - Multi token reward farms
8. Revamped landing page
   

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