SpookySwap Partners With Market.xyz
The Fantom Foundation 370M FTM incentive has brought new developers and projects onto the Fantom Opera ecosystem, and Spooky Swap is proud to announce a customizable market protocol coming to Fantom that implements isolated interest rate markets that enable borrowing and lending of any token based asset which supports the ERC-20 specification. Introducing, Market which will be supporting the SpookySwap DEX through both lending and leveraging starting now!
The Market Protocol empowers anyone to create isolated interest rate markets that enable borrowing and lending of any token based asset which supports the ERC-20 specification. For launch, BOO-FTM spLP staked through Beefy Finance and xBOO are available for leveraging. These markets are customizable and can be easily updated by the creator or through governance.
By using Market for your leveraging or lending, you can control aspects such as:
- Assets supported, each asset’s LTV & Interest Rate Model
- Close Factor & Liquidation Incentive
- Reserves & Administrator fee
SpookySwap and Market have a shared goal of making DeFi utility accessible for both our communities and the greater Fantom ecosystem. Thanks to the low gas fees made possible by Fantom Opera, Market aims to be very accessible to people as smaller borrow positions become possible without compromising on security since the gas fee for liquidations is economical. This paired with SpookySwap’s liquidity creates a lot of interesting investing strategies using the Lao Zi protocol’s MAI.
Here’s a few ways you can take advantage of the new possibilities brought by Market.xyz lending:
BOO-FTM LP Leveraging
- Make BOO-FTM LP on SpookySwap
- Deposit on https://app.beefy.finance/#/fantom for auto compounding
- Deposit the received receipt token on https://fantom.market.xyz/pool/2
- Borrow MAI while the beefy token auto compounds
- Deposit BOO for xBOO on https://spookyswap.finance/pools
- Deposit xBOO on https://fantom.market.xyz/pool/2
- Borrow MAI while the xBOO autocompounds
About Market Protocol
Access instant liquidity & leverage on all your assets with Market. You can borrow/lend and unlock your token’s value with isolated pools specifically designed for your holdings. Market believes that isolated markets create equitable opportunities for every participant, community & project in the world of DeFi. All pools of Market are to be governed by the participants, and all liquidity across all positions via isolated pools is instantly accessible thanks to superfluid collateral.
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. SpookySwap actively invests in building a strong foundation by using the BOO token for governance, rewards on diverse farms, and to provide developer grants encouraging a healthy ecosystem of other Fantom projects. As of its launch in April 2021, SpookySwap has earned endorsement and support from the Fantom Foundation, developed a bridge for popular DeFi networks such as Binance, Avalanche, Polygon, and Arbitrum, and been fully audited by CertiK.
We look forward to working closely with the Market team to launch exciting investment opportunities for the Fantom community at large during this period of rapid growth and discovery for the Fantom Opera network.