Spookyswap crypto is a uniquely built decentralized exchange, utilizing Automated Marketing-Marking (AMM) on the Fantom Opera Network. Being one of the few decentralized exchanges that use AMM on its network, it has attracted massive followership.
The farm yielding protocol has numerous farms and has made swapping highly efficient with the removal of intermediaries. With Spookyswap, interested users can swap safely without depending on the assistance of a third party.
According to Spookswap, the BOO token is a governance token focused on delivering services for users and helping interested parties achieve their goals at maximum speed. The token, which launched in April, has achieved many feats, including the successfully bridging of Fantom- Ethereum– BSC.
How To Use SpookySwap crypto?
Before users can use the SpookySwap, they need a Metamask wallet linked to the Fantom Opera Network. The Fantom network is a smart contract, focusing on directly connecting parties without requesting permission. Naturally, the Metamask wallet is only compatible with Ethereum and eth-based tokens.
When users link the network with Metamask, the system sets up a protocol to ensure that the wallet works with the smart contract. It is safe to note that users need a gas fee, which is in FTM, before executing any transaction. For swapping FTM on the Ethereum network, you need the Spookyswap bridge to link the transaction. With the newly built bridge between Fantom and Ethereum/BSC, users can go from Fantom to Ethereum/BSC or from Ethereum/BSC to Fantom.
Unlike other transactions, bridging on the network is gas-free. The bridge is a simplified protocol for users to rapidly settle swaps without much difficulty. Interestingly, the smart contract supports many tokens for the Fantom and Ethereum bridging, helping users enjoy a streamlined swapping experience.
For bridging, parties have to first pick the network from where they are bridging from and to. The next step would be selecting the token to bridge. With a clean and user-friendly interface, users can easily access the right spot on their screens. The next step is selecting the amount for the bridging, ensuring the chosen amount is within the minimum and maximum configuration of the system.
After selecting the amount, you can click on “bridge token,” after which Metamask completes the transaction. With the bridging completed, you can access your new tokens whenever they have been successfully bridged. Bridging Ethereum follows a similar process with AnySwap confirming the ETH bridge, in which users confirm the completion after clicking “transfer” to check the status of the recent transaction.