SpookySwap is proud to announce a major feature now live on the SpookySwap DEX! SpookySwap has launched both new types of investment possibilities for farmers and new types of partnerships for protocols all possible thanks to a major upgrade now on our Farm.
Introducing, SpookySwap Farm V2!
About Farm V2
SpookySwap has made it possible for other projects to add incentives from their own treasuries on top of BOO rewards (or independent of them), instantly without governance. Previously for SpookySwap, adding incentives from another project required utilizing Partnered Staking through BOO governance to receive a higher BOO farm weight, which favored existing well-known projects. By upgrading to Farm V2, Fantom developers will have more tools to add their own rewards instantly to LP, driving increased DEX liquidity which would in turn lower slippage and increase the overall profitability of the DEX. Protocols in a hurry to reward LPers can now quickly spin up farms for their owns tokens on the trusted SpookySwap DEX without the need for BOO Rewards and appealing to BOO Holders through governance.
For Farm V2, an unlimited number of reward tokens can be provided directly to stakers. Protocols can now choose to incentivize dual or triple rewards for LPers. Dual farm rewards in Farm v2 will also help the SpookySwap team monitor high performance pairs and collaborate with protocols who would like to be added to the list of BOO rewards farms through SpookySwap governance.
The Farm V2 contract can support zapping from a token directly into a farm. This allows for easier UX, less gas costs and a better experience for SpookySwap and Fantom users! Zapping support from SpookySwap is still in development and will be launching in the future. This also allows other protocols to interface with Farm V2 in an easier way on behalf of users.
SpookySwap’s first partner for Farm V2 will be DEUS Finance DAO! Deus DAO is a next-gen marketplace for decentralized financial services on Fantom, providing the infrastructure for 3rd-party financial instruments such as synthetic stock trading platforms, options trading, and more. Stakers for the DEUS-FTM pair as well as the DEI-USDC pair will earn DEUS rewards, on top of interest from earned fees on the LP pair’s volume. Adding DEUS-FTM or DEI-USDC to the BOO rewards farms will be pending the performance of each pair and a successful governance vote.
Overall, Farm V2 brings exciting new investment possibilities for the Fantom community. We look forward to seeing upcoming SpookySwap partnerships drive DEX liquidity and volume thanks to featured pairs and dual reward possibilities. Expect additional updates coming very soon to earn even more BOO rewards for SpookySwap stakers.