Aesthectics matter and in the world of DeFi we're in now where things change fast like the weather in Hawaii, standing out is a gateway for engagement and development and an onramp to growth.
I just found out about Spooky Swap last night, and wow I am much enamored with the simple cute visuals.
I dug further into Fantom because of SpookySwap and I had originally found SpookySwap by first going to CoinGecko's Top DEX's. Pretty useful to see this info! We can see that the 24hr volume on Spookyswap was a respectable, but not eggregious volume.
Fantom Foundation put out a blog post on May 20 announcing Fantom and Chainlink were working together to proide VRF (Verifiable Random Function) auditing/oracle'ing for Smart Contracts. Which makes me feel that this particular DEX and the FTM ecosystem might not be as volatile as other DEX ecosystems we've seen coming out this year.
The underlying currency of Fantom Opera network is of course the FTM (FANTOM) coin, which is trading @ 0.298474 as of this writing. You're going to need FTM to complete transactions so think of it just like ETH gas. What I really liked was that fees were very minimal per transaction, less than on BSC.
I had an admittedly frustrating time figuring out how to bridge my "dust assets" to Fantom so I could play around at super low stakes in the network. I had 41 BUSD built up from EPS Finance so I thought I could bridge my BUSD from BSC on Metamask to Fantom, which I could! The https://multichain.xyz/ bridge is cool and it's the first time I had used it. Fees weren't bad but when I had gone ahead and swapped my BUSD for fBUSD, I realized that SpookySwap doesn't support swapping tokens from fBUSD/BUSD for anything yet :(
So, I went back to the Multichain bridge and sweapped my fBUSD for BUSD. I went to PancakeSwap and brought over BNB to the Multichain Bridge and converted it to fBNB. I split the .06BNB that ammounted to into fBNB and FTM and then staked it in the LP farm.
I've made a spectacular .01 cent!
My favorite part of SpookySwap though is the Boo Single Stake :)
I used my leftover fBNB dust to buy what I could in BOO, the token of SpookySwap DEX.
Great returns! Much spooky scary skeletons! My spooky investment strategy here will be to harvest some BOO when it's profitable past the FTM required to claim it and compound it.
I found out that you can even get FTM sent directly to whatever wallet address you want, too! It's my favorite faucet I've found in DeFi so far, by far! You need to be on their discord and you can claim the faucet drip once every 50hr, you just message the faucet bot "!help" and then "!faucet" and then follow the instructions to withdraw. Read more about the faucet here: https://docs.spookyswap.finance/getting-started/how-to-get-fantom-gas
Don't be scared of the Spooky!
My Referral Links
