SpookySwap Spotlight: The Fantom Ecosystem We recently had the pleasure of speaking with Eerie, one of SpookySwap's founders. SpookySwap, the first native Fantom AMM and DEX, features easy-to-use token swap and cross-chain bridge features in addition to a wide range of farms and stake opportunities.
The SpookySwap team's openness and willingness to collaborate with other Fantom network projects shine through in this interview. We were additionally really eager to find out about what they have coming up for what's to come!
- What is SpookySwap?
On the Fantom Opera network, SpookySwap is an automated market-making (AMM) decentralized exchange (DEX).
We place an emphasis on governance, offer the lowest swap fees for converting between cryptocurrencies on Fantom, and incorporate a user-friendly bridge to bring liquidity onto Fantom.
Our farms and pools on SpookySwap have no deposit or withdrawal fees.
- How can someone who is unfamiliar with DeFi or SpookySwap be introduced to it?
SpookySwap is a cryptocurrency exchange, but unlike traditional exchanges, you won't be trading with anyone else.
Exchanges are satisfied naturally utilizing liquidity given by different clients, and the cost you get on the exchange is comparative with the proportion of the two tokens you're exchanging.
There is no need to sign up, provide any user information, or collect any data in order to use SpookySwap! SpookySwap is untrustworthy, and anyone can execute trades or supply liquidity.
The SpookySwap governance token, BOO, and a portion of the swap fee will be collected in exchange for providing liquidity.
- How could you concoct SpookySwap/what was your motivation?
Our team has extensive experience working with well-known AMMs on Ethereum and Binance Smart Chain, as well as observing the success of AMMs that were built specifically for the network they supported.
We were thrilled to launch the network's first native AMM DEX and provide Fantom Opera with new functionality.
Our spooky, magical cat theme was inspired in part by our love of cats and the name Fantom.
- Are you a member of a group? Provided that this is true, how could you wind up cooperating?
We are a great team because we work well together. ooGwei and Shocking contacted colleagues from past tasks to make the SpookySwap supergroup that handles all angles from contract improvement, web advancement, tokenomics, item plan, craftsmanship, client experience, advertising, online entertainment and so on!
There was a lot of genuine excitement for the possibilities when the idea was pitched and ideas for product design and our spooky theme were created.
And still, at the end of the day, we previously had certainty that we planned to significantly affect the DeFi people group.
- What are your antecedents?
Shocking - Software engineering
ooGwei - Software engineering
No. 4 Sort C - UX/Visual depiction
Interwoven - Business Organization
Small - Workmanship/Media Expressions
- What motivated you to build on Fantom?
As developers and investors, Fantom's technology was very exciting for our team. We had been Fantom financial backers for a long while and chosen to become engineers for Fantom, too.
Additionally, Fantom makes it particularly simple and inexpensive for network administrators who are familiar with EVM contract design to develop DeFi protocols. We thought that because of this and the need for native DeFi protocols, building on Fantom was an easy choice.
- How did you discover Fantom?
We learned about Fantom through Andre Cronje's Twitter and the early DeFi protocols that announced support for Fantom while it was still in its infancy, like other active DeFi investors. We were printing and trading fUSD all the others almost immediately!
- How did building on Fantom go for you?
Fantom makes it particularly simple for people who are familiar with EVM contract design to create DeFi protocols for their network, and the existing community was extremely helpful with any questions we had regarding the development of the software. In general, Fantom development is a breeze.
- What carries you to DeFi, and what invigorates you most about the space?
We have been actively utilizing a few additional DeFi protocols for some time. The extent to which DeFi can be automated is the most exciting aspect.
It's perceived that robotization and artificial intelligence will supplant many positions in a wide range of occupation areas, and the capacity to have the usefulness of a whole monetary organization without the failures that accompany the size of worldwide money is extremely energizing.
- How did the local area getSpookySwap?
Our art, user interface, and tokenomics were extremely well received by our community from the beginning.
We invest heavily in our site design, which makes a simple to-involve interface for DeFi veterans and novices.
We think our emission schedule is very appreciated by the community, and BOO has a fixed maximum supply of 13.666M. 11. What's coming up for SpookySwap? Alpha is free!
We're proceeding to collaborate with groups sending off new undertakings on Fantom or bringing existing conventions onto Fantom through SpookySwap.
Due to our partnered staking xBOO pools, collaborations take up a lot of time, and we greatly value the governance and feedback we receive from BOO holders. Anticipate that few of our new elements should compensate BOO holders and xBOO stakers!
We are also very excited about our upcoming generative NFT series, Magicats, in which xBOO stakers will receive an additional benefit for holding BOO by receiving a portion of the royalties from Artion.
This indicates that official SpookySwap NFT swaps on Artion will also contribute to the rate at which xBOO gains value, just like xBOO does.
- What might you want to tell individual designers who haven't begun expanding on Fantom yet?
You still have time!
For the simple reason that they fill a DeFi niche that was lacking native support and perform it in an easy-to-use and transparent manner, recently launched protocols have quickly risen to the top 10 TVL on the network.
You will probably succeed if you have an idea that makes use of Fantom in a way that hasn't been done before. The developers in the community are willing to assist with providing resources or feedback for your project.
