SpookySwap Development Update #2

SpookySwap has been officially live for one month! We want to thank all the community members, volunteer Discord moderators, and fellow Fantom Opera developers who helped the team achieve the amazing amount of progress seen so far on the first native Fantom Foundation DEX.

Our top 10 Liquidity Pairs on SpookySwap

At the end of our first development update, we stated our focus would be split between expanding Twitter outreach through contests and international accounts while the development team focused on long term objectives such as incorporating limit orders. Our short term goals of updating our analytics page following the Go-Opera update, a landing page, and additional metrics displayed for our Farm page had been completed and our team could now begin roadmap development. This development update will first cover past roadmap accomplishments made in May 2021 so far, followed by covering our planned features and announcements.

Site Improvements

We’ve implemented several site updates based on community feedback. For example, we’ve added a “harvest all” button to our farm page, the value of staked LP tokens in dollars to the farm page, as well as general UX improvements. Our largest update based on community feedback is the inclusion of a portfolio page, which shows transaction history, current staked balances, and the ability to harvest from both the farms and the single stake farm on the same page. More features are planned for the portfolio page in the future based on community suggestions.

Airdrop Outreach

We consider our airdrop results to have been successful, and have received positive feedback from our community and AlchemixFinance. Several dApps such as Mushrooms Finance, Pickle Finance, and Ruler Protocol were included in the airdrop thanks to the outreach from their developers. Our current airdrop with Alpha Finance Lab also prioritizes expanding our network through bringing new users to Fantom Opera. Upcoming airdrops are currently planned as we continue to talk to developers who use tokens currently supported by our existing farms.

Our latest Outreach Airdrop collaborates with Alpha Finance

Twitter Outreach

Our Twitter follower count continues to grow organically and has reached over 9000 followers, without the use of paid promotion or disingenuous accounts. Our first art contest included more than 60 submissions of original SpookySwap art. We’re happy to see the community appreciates our art as much as we do. We will continue to have art contests in the future, as well as other categories of contests such as our currently ongoing meme contest, which currently has received over 150 retweets of our contest announcement tweet. Our next planned contest is expected to be announced late May, and will reward users who provide informational content such as infographics and videos.

Governance

Early governance votes have been a success, with our BOO holders voting to incorporate two new farms, FTM-ZOO and FTM-BNB, as well as to migrate the FTM-YFI farm to the new yearn.finance, FTM-WOOFY. Since all changes to farms will only occur through governance votes, we’re glad to see our community is active in supporting farms that add value to SpookySwap. Governance votes will slowly be expanded to include topics outside of new farms, such as farm weights, development priority, and multichain support.

Audit

Our audit through CertiK Foundation has begun. We chose Certik based on their established and respected use with other DeFi protocols, and although the audit has not been completed as of the time of this announcement we’re very confident in receiving approval soon. When limit orders are introduced to SpookySwap, a follow-on audit is planned to be conducted to build confidence in our product.

NFTs

SpookySwap has collaborated with ZooCoin.Cash to mint official SpookySwap NFTs, available exclusively through our Twitter contests and Discord giveaways. We will be releasing additional NFTs in the future and have currently minted 280 Official NFTs for release, having given away 10 at the time of publication. Please look forward to more opportunities to receive official NFTs soon.

SpookySwap Trophy NFT available exclusively to contest winners

Next Steps

Officially supported limit orders were initially estimated to be completed by mid-June. We’re happy to announce that we expect native limit orders to be completed by the end of May. This eases the burden on our own development team, and also expedites the release of our buyback single stake farm, which will compete and coexist with our current single stake farm.

We intend to expand our current NFT selection and provide purchasable NFTs in an official SpookySwap marketplace in the coming months. Creating an expert trader interface which would include detailed charts and recent transactions is a highly requested feature currently in development. Additional airdrops to token holders currently supported by our farms are currently scheduled, and future airdrop candidates are being evaluated.

Overall, these items are significant undertakings and prioritizing between our long term development goals will be decided through governance and cooperation between existing DeFi developers. Our focus will continue to be bringing new capabilities to Fantom Opera.

Our next development update will be planned for mid-June. Stay Spooky!

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