SpookySwap xBOO Update: More Rewards for xBOO Holders!
A heavily requested feature for SpookySwap has been to create additional incentives for xBOO holders (our receipt token earned through our Buyback BOO single-stake). We want to start off by thanking BOO holders who participated in our two single staking options, our BOO IFO and Buyback BOO. We’re happy to announce that thanks to the countless partnerships and developers working with Fantom Foundation and Spooky Swap, we are able to introduce Partnered Staking.
Incentives for BOO Holders
Partnered Staking will allow BOO holders to stake their xBOO receipt token to earn partnered tokens, while still earning the APR from our Buyback BOO single-stake. Overall this feature gives BOO holders:
- Double yield, potentially doubling the APR for xBOO by earning an additional token
- Yield farming multiple tokens while holding xBOO
- Low risk investment in new projects
- Governance input in upcoming listings and farms
- Additional trade fees from new pairs
Partner Incentives
Due to the strength of BOO and a SpookySwap farm, partnered staking lets protocols who apply through our listing form to focus on optimizing their own dApp rather than on incentivizing liquidity. This also allows for:
- Widespread distribution of the token
- More flexible tokenomic options in the Fantom ecosystem
- Inclusion on the highest liquidity DEX on Fantom
- Twitter and Medium posts on SpookySwap social media
- BOO Farm, which adds value to the protocol’s token
xBOO Governance
Partnered single stakes available at launch will be determined by the SpookySwap governance votes, as each stake option passed through governance will also be rewarded with its own farm. This provides an extra avenue for projects to quickly build liquidity for their token. We’re excited to see BOO be used for more decentralized community control of the SpookySwap DEX, and to partner with up and coming developers who wish to promote their new dApp through SpookySwap.
Next Steps
SpookySwap currently has six planned partners who are interested in launching single-stake xBOO pools. We will continue to reach out to upcoming projects, or existing projects who wish to build liquidity for their token. Partnered Single-Stake is expected to be launched very soon. Any developers interested in contacting SpookySwap for more information can reach the development team through our Twitter Discord or our Farm and Listing Form.
Stay Spooky!
