SpookySwap
Crypto Overview
Project Overview
SpookySwap is a decentralized exchange (DEX) operating on the Fantom Opera blockchain. The BOO token serves as the protocol's governance and utility token, allowing holders to participate in platform decisions and earn rewards through providing liquidity.
Intended Utility
The BOO token was designed to incentivize liquidity provision, facilitate governance, and share protocol revenue with token holders. Token holders can stake BOO to earn a share of trading fees and participate in governance decisions.
Actual Utility Assessment
The platform demonstrates genuine utility through its DEX operations, with significant daily trading volume and active liquidity pools. The development team maintains regular updates and improvements to the protocol. The platform's smart contracts have been audited by Certik, adding credibility to the technical implementation.
Token Distribution and Founder Analysis
Initial token distribution included: 45% to liquidity mining rewards, 30% to the treasury, 15% to the team (vested over 2 years), and 10% to development fund. The vesting schedule for team tokens suggests a long-term commitment rather than short-term profit-taking. The development team maintains relative anonymity but has demonstrated consistent platform development and community engagement.
Revenue Model Analysis
The platform generates revenue through trading fees (0.2% per trade), with 0.1% distributed to liquidity providers and 0.1% to BOO stakers. This model aligns with Islamic finance principles as it represents actual value exchange and profit-sharing rather than interest-based returns.
Crypto Impact
To assign a comfort level investing in SpookySwap from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to SpookySwap.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.