SpookySwap – what is it?

Spooky Swap

SpookySwap is a decentralized exchange on the Fantom blockchain with convenient and efficient functioning.

In 2022, the cryptocurrency and blockchain industry was developing extremely fast. Many interesting and promising blockchains appeared. They started to acquire various useful services. For example, Fantom is an extremely interesting blockchain. It offers a lot of promising projects and coins to earn money. But how and where to buy them? The decentralized exchange SpookySwap, which specializes in the Fantom blockchain, will help you.

What is SpookySwap?

SpookySwap is a decentralized crypto exchange that operates on the Fantom (Opera) blockchain. It is considered to be the largest and most popular exchange on this blockchain.

The principle of operation is similar to traditional DEX platforms. The exchange has pools of liquidity assets (they contain certain cryptocurrency). When exchanging, you send directly one cryptocurrency from your Fantom wallet to the pool, and from the neighboring pool you are credited with another cryptocurrency immediately to the wallet. As a result, there is no need to go through any registration and identification procedures.

What functions does SpookySwap have?

On SpookySwap, for example, you can find a classic set of options for a decentralized exchange. The only difference is that you are on the cheap and unique Fantom blockchain.

You will be able to: make an exchange; add liquidity; get LP tokens; engage in farming and staking (at a good interest rate). In addition, the exchange has its own bridge and NFT store.

As for the bridge, in the case of Fantom, it is extremely convenient. You can easily (but not always quickly) change your cryptocurrency from Ether to Fantom or vice versa right on the exchange’s website. The bridge also supports such networks as BSC, Polygon, Arbitrum, Avalanche and others. In general, the bridge is extremely advanced and functional.

How does the exchange work?

How does SpookySwap work

Everything is very simple. You just need to connect your wallet to the platform and start working. However, you need to install the Fantom network in your wallet beforehand.

Next, you need to select the desired pair of assets (for example, Fantom and USDC), enter the desired amount of the asset. And then, confirm that you accept that platform is handling your assets on your wallet and make the exchange itself.

Thus, the exchange is extremely simple and fast. And the commissions are quite low: 0.20% per transaction.

About Gary Farrow 7 Articles
Gary Farrow holds a Master's degree in Computer Science. Worked as a software developer for several years. Having taken a great interest in blockchain technologies, now he works only on blockchain projects. Knowing blockchain and cryptocurrencies from the inside, Gary writes informative and useful articles for everyone who is interested in blockchain or just entering this field.