About

SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) on the Fantom Opera network. In addition to basic DEX functions such as token swaps and yield farming, SpookySwap also offers a built-in cross-chain bridge and NFTs. The BOO token is used for governance.

History

SpookySwap, the first automated market-making (AMM) decentralized exchange (DEX) native to the Fantom Opera network, was launched in April 2021 by a team of anonymous developers. SpookySwap was built to be a trader-focused DEX, taking advantage of the Fantom Opera network's speed and low gas fees. The protocol governance token, BOO, was launched on 04/25/2021 through an Initial Dex Offering (IDO) and Initial Farm Offering (IFO) along with airdrops to the AlchemixFinance and Alpha Finance Labs communities (holders, stakers, farmers, etc.). Along with the aforementioned outreach airdrops, the SpookySwap team focused on a number of other methods to bring users and developers onto the Fantom network such as international outreach and contests through Twitter and Build On Opera (BOO) Grants for developers. Early governance votes focused on the addition of new farms, the vast majority of proposals were approved. Over the following months, in addition to a number of UI/UX focused site improvements, SpookySwap added native limit orders powered by the Gelato Network. Certik also completed a full audit of the protocol and had no critical, major or medium findings.

During July 2021 SpookySwap released its first unique feature, a Fantom bridge. At launch the bridge only supported two networks (ETH and BSC) and about 25 tokens, but over the coming months the bridge widened its net considerably adding many more tokens and six new networks. Another unique and major arena for SpookySwap has been NFTs. Around launch, the team announced official NFTs minted through ZooCoin.Cash, and awarded the first batch to the SpookyArt Contest winners. There are two types of Official SpookySwap NFTs on ZooCoin, emojis, which can either be bought or earned through giveaways, contests, etc., and web assets, which can only be bought on the ZooCoin marketplace. Shortly thereafter, the team started to publicly discuss the development of an NFT platform and Magicats, a limited series of NFTs created by SpookySwap's lead artist. Magicats ended up launching in late-October 2021 on PaintSwap, the series sold out within five minutes, and a community vote decided that 50% of the royalties for every sale would be used to buy BOO for the buyback single stake pool. Around the time of the Magicats announcement, the first xBOO staking pools were launched with YEL.finance and Screamer, allowing BOO holders in the single stake pool to earn other tokens while also earning BOO that had been bought back from trading fees.