SpookySwap 1-Year Anniversary Update 2022

An original art asset for the Liquidity Page, no longer used on the site

Q2 2021

The SpookySwap DEX launched April 17th making it the first native Fantom Opera DEX. One week later we launched our governance token BOO which quickly rose to over $5.00 a BOO. To incentivize BOO holders, on April 28th we launched our Single-Stake BOO pool. These first two weeks of SpookySwap were incredibly memorable and one of the most exciting periods of development for the SpookySwap team. The feedback from our Discord community and on Twitter were overwhelmingly positive, and the team became very confident in the growth of both Fantom and the SpookySwap DeFi hub.

A demonstration of the upgraded Mobile UI launched in May 2021
Discord Emote, Site Asset, and Award NFTs are available on the ZooCoin Marketplace

Q3 2021

July 2021 marked the launch of SpookySwap’s Bridge, our frontend which improves upon the AnySwap and Multichain bridges by only including tokens actively supported on Fantom Opera, and by only showing chains that can bridge to or from Fantom Opera. Additionally in July, an update to SpookySwap’s limit orders enabled setting orders below market price.

Our Top Nav UI upgrade designed by №4 Type C, currently still used for the Spooky site

Q4 2021

The Halloween season kicked off several major developments for SpookySwap. Our Genesis NFT series, Magicats, minted all 5,000 NFTs in the first 5 minutes after launch. At the time of this article, Magicats has become the highest total volume and highest weekly volume of any NFT collection on the PaintSwap marketplace.

Magicats is, at the time of this article, the most popular NFT collection for Fantom’s #1 NFT Marketplace
Expert trading heavily upgrades the Swap page with additional information thanks to kek.tools and №4 Type C
SpookySwap’s xBOO buyback has often exceeded BOO emissions, creating a net-positive price impact for BOO

Q1 2022 Review

The new year saw lots of excitement for Fantom Opera thanks to the launch of Solidly, and resulted in SpookySwap reaching its record high 1,500,000,000 TVL. Volume for SpookySwap reached a record high thanks to the growing number of protocols launched to participate in Andre Cronje’s newest project. Spooky exceeded PancakeSwap’s 24h volume for the first time becoming the second highest volume DEX in the crypto community. During this time, SpookySwap also launched its light mode UI for a more professional default appearance.

Light mode and Disabled Art settings create a bright and minimalist DeFi experience
SpookySwap’s 1st Anniversary Timeline, by №4 Type C

Present Day Metrics and Treasury

Current Fantom DeFi TVL Standings
USDC liquidity has increased significantly on SpookySwap’s DEX thanks to DEUS Finance DAO

Q1 2022 Rewards Recap

  • Q1 Rewards for LPers + xBOO: $61,100,000
  • Q1 Rewards for xBOO: $9,165,000

April Data Recap

  • Total Value Locked: $778,396,954
  • Average Daily Volume: $159M
  • BOO Holders: 74,779
  • BOO Market Cap: $94,166,588
  • Price to Sale ratio: 1.20x
  • Price to Earnings ratio: 8.03x
  • MCap/TVL: 0.11893
  • Top xBOO APR: 45.26%

One Year of Spooky Recap:

  • 56,908,968 Total DEX Transactions
  • $54,464,868,639 Total DEX Volume
  • 19,191 Unique LP Pairs
  • $15,025,000 Rewards for xBOO

Treasury Breakdown

SpookySwap has diversified our Treasury to ensure we are well funded to support new and existing team members and developers for long term growth. We appreciate HectorDao and Beethoven x for participating in treasury swaps to strengthen the partnerships between top Fantom protocols. We’ve also recently pivoted to creating more POL thanks to BOO community proposals and our OlympusDAO partnership.

  • 500,000 BEETS
  • 58.76 ETH
  • 9000 HND
  • 400,000 BOO
  • 20,000 xBOO
  • 165,514 TOMB
  • 792,709 USDC
  • $600,000 BOO-FTM
  • $500,000 FTM-USDC
  • $500,000 BOO-USDC on Beethoven
  • $65,000 fBEETS on Beethoven
  • $100,000 xBOO-USDC on Beethoven
  • $1,500,000 BOO-ETH on Uniswap
  • $250,000 ETH waiting to add LP to Uniswap

Development Updates

Our team has accomplished many goals based on our launch roadmap from March 2021. We’re overall very pleased with our accomplishments in growing both SpookySwap as a DeFi hub and the Fantom Opera network through our SpookySwap bridge.

Announcing The New Home of DeFi: Spooky.fi!

As SpookySwap has expanded its services outside of token swapping, we are officially launching Spooky.fi as our primary website homepage! In addition, this website deployment is through IPFS (Read more at: https://ipfs.io/) which is a more decentralized way to host Spooky. This provides SpookySwap with censorship resistance, attack resistance, and multiple ways to access the same Spooky website.

NFT Innovation: Magicats Staking

We consider our Magicats launch a success, with our initial mint of 5000 Magicats NFTs being completely sold out only five minutes after minting launched. We attribute this to our unique position as the number one DEX on Fantom, and our SpookySwap art style. Our priorities to meet NFT innovation are:

  • Additional NFT series that benefits existing holders

Ongoing

Other than what’s planned in the SpookySwap Priority List, we will continue to support our ongoing efforts to grow the SpookySwap DEX. The team will continue to work towards:

  • Farm adjustments based on performance and community BOO governance
  • Token whitelistings
  • Website bug fixes and quality of life updates

Next Steps

SpookySwap has achieved many of our ongoing development goals. Priorities which have been completed during Q1 2022 include BOO Price Feed utilizing ChainLink, CEX listing, decentralized buybacks, and Farm V2 enabling dual yield.

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