Spookyswap Crypto Platform

Pros

$95,209,590 USD currently invested (TVL)

Investments in 39 coin pairs available

Operating on Fantom Opera protocol

Cons

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Spookyswap Reviews

Spookyswap is a decentralized exchange (DEX) with an automated market-making (AMM) on the Fantom Opera Network that is launched in April 2021. Spookyswap is a new player in the rapidly growing decentralized finance (DeFi) space and it has been gaining a lot of attention lately. The platform is built on the Fantom chain and aims to provide a fast, user-friendly, and secure platform for buying, selling, trading, farming, staking and bridging cryptocurrencies. Spooky's bridging tools have a wide selection of chains, including Ethereum, BSC, Polygon, Avalanche, Arbitrum, Cronos, OKC, and Harmony networks.

BOO tokens are SpookySwap’s governance tokens and are used to make decisions in governance votes. There are also other benefits of using and holding BOO tokens. The first innovative tool for BOO holders is Buyback and Partner Pools (BBPP). The platform buys back BOO tokens with a portion of its revenue from trading fees. Purchased BOO tokens are distributed on the BBP pools. Users can lock their BOO tokens on a BBP pool and earn more BOO tokens. SpookySwap’s decentralized buyback program is a very promising innovative solution for DEXs. Buyback programs are usually made manually with an executive order by the administration. But Spooky stands out in this.

One of the main selling points of Spookyswap is its user interface, which is well-designed and easy to navigate. The platform's interface is very user-friendly, making it accessible to even those who are new to DeFi. Additionally, the platform offers a fast and efficient trading experience, with transactions being processed in a matter of seconds. Another important feature of Spookyswap is its security. The platform uses smart contracts to ensure that funds are stored in a secure and decentralized manner. This means that users have full control over their funds and don't have to rely on a centralized entity to manage their assets.

Spookyswap also offers a range of services besides swap and exchange. The underlying Fantom chain allows the platform to provide fast and efficient bridging services. This variety of options makes the platform suitable for cryptocurrency investors of all levels, from beginner to advanced. Users can also use liquidity farms and pools to generate passive income by holding some tokens. In terms of liquidity, Spookyswap has a growing list of supported tokens and the platform is quickly attracting more users and traders, which is driving up liquidity.

In conclusion, Spookyswap is a promising new decentralized exchange that offers a fast, user-friendly, and secure platform for trading cryptocurrencies. With its growing list of supported tokens, range of trading options, and user-friendly interface, Spookyswap is worth considering for those looking for a new DeFi platform to trade on. But considering the protocol’s short history, users should be advised to use the platform with caution. The platform has been fully audited by CertiK. But there have been unfortunate experiences, hacks and exploits even on the audited protocols.