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    Spiritswap.finance: A Great Decentralized Exchange on Fantom Opera Chain

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    Spiritswap.finance
    Spiritswap.finance

    Spiritswap.Finance: Decentraized Exchange on Fantom Opera Chain

    Spiritswap.finance is a decentralized exchange (DEX) on the Fantom Opera Chain. Its design is based on the Uniswap constant-product automated market maker (AMM). In an AMM, liquidity providers simply deposit a pair of tokens and an algorithm automatically makes markets for the token pair. Traders can easily swap between tokens in the AMM and get guaranteed rates for the swaps. Each swap on SpiritSwap incurs a fee, which gets distributed to liquidity providers and $XSPRT token holders.

    Why build a DEX on Fantom?
    Fantom can offer a lot as a smart contract platform:

    Low gas fees
    Short block times
    More decentralized
    EVM compatible
    Fantom already has an AMM (SushiSwap), money-market (Cream), and stablecoin AMM (Curve). However, each of these protocols have poor liquidity (on Fantom). Why? Because incentives such as yield farming aren’t there! Apparently, SpiritSwap is born for that.

    By using Spirit Swap, you can get a lot of benefits:

    Earn a percentage of each trade in a pool when you stake your SPRT LP tokens in one of SpiritSwap’s farms.
    Appreciation of your owned SPRT tokens. As time goes on the SPRT token may appreciate in value, and farming early can lead to big gains when the token performs.
    Lower transaction fees than Ethereum.
    Faster transactions than Ethereum.
    Spirit Swap also has excellent features:

    Swap – Users can swap tokens on Fantom via automated liquidity pools of SpiritSwap. Every swap on SpiritSwap incurs a 0.3% fee.
    Liquidity – Spirit Swap offers users a simple way to provide liquidity for tokens on Fantom via automated liquidity pools (LPs). Around 83% of the fee goes to liquidity providers of the given Liquidity Pool.
    Farm – Farming on Spirit Swap is used to incentivize liquidity on the DEX. SpiritSwap will distribute $SPRT tokens to liquidity providers on selected farms.
    Stake – SPRT tokens can be staked to receive protocol-generated revenue from SpiritSwap. 17% of the fee goes to the protocol fee vault, which is used to buy-back and deposit SPRT into the Staking Pool.

    Tokenomics
    $SPRT
    Protocol token
    Earned by farmers and stakers
    Stake $SPRT to get $XSPRT
    $SPRT Tokenomics

    Black report
    What is Spirit Swap? Introduction to SPRT Token
    Tháng Tư 23, 2021
    What is Spirit Swap? Introduction to SPRT Token
    289
    SHARES
    Spirit Swap – The first Incentivized DEX on Fantom. It more decentralized than BSC and requires low gas fees for swapping. Even more Spirit Swap has own token which can be earn by providing liquidity pools and farming.

    Sound cool right? Let’s check it out!

    1. What is Spirit Swap?
    Spiritswap.finance is a decentralized exchange (DEX) on the Fantom Opera Chain. Its design is based on the Uniswap constant-product automated market maker (AMM). In an AMM, liquidity providers simply deposit a pair of tokens and an algorithm automatically makes markets for the token pair. Traders can easily swap between tokens in the AMM and get guaranteed rates for the swaps. Each swap on SpiritSwap incurs a fee, which gets distributed to liquidity providers and $XSPRT token holders.

    2. Why build a DEX on Fantom?
    Fantom can offer a lot as a smart contract platform:

    Low gas fees
    Short block times
    More decentralized
    EVM compatible
    Fantom already has an AMM (SushiSwap), money-market (Cream), and stablecoin AMM (Curve). However, each of these protocols have poor liquidity (on Fantom). Why? Because incentives such as yield farming aren’t there! Apparently, SpiritSwap is born for that.

    3. Why Spirit Swap?

    By using Spirit Swap, you can get a lot of benefits:

    Earn a percentage of each trade in a pool when you stake your SPRT LP tokens in one of SpiritSwap’s farms.

     

    Yield Farming Requirements

    Yield Farm

    Requirements:
    • Have $FTM in your wallet for gas

    • Have the $SPIRIT-LP token you wish to deposit

    1. If you do not have $SPIRIT-LP tokens yet, learn how to make FTM/USDC SPIRIT-LPs here:
    Add Liquidity
    /howto/add-liquidity
    2. Go to SpiritSwap.Finance
    3. Click on “Enter App”.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZ4Fr3EsrJNhelqn4xI%2F MZ4KkjPt bic6hCEVLo%2Fimage
    4. Connect wallet.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZ5ixfvaeNMiH2r r90%2F
    5. Click on the “Farming” tab.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F MZBJsSacwPrFpwoZfsh%2Fimage
    6. Find the FTM-USDC LP farm, and select “Approve”
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F MZBK8VOAx O4Un8gBEB%2Fimage
    • To farm different pools you will have to provide liquidity for other pools

    • Ex. for the FTM-SPIRIT LP farm, you first provide liquidity on the FTM/SPIRIT pair, then deposit FTM/SPIRIT SPIRIT-LP tokens

    7. Confirm the transaction in MetaMask.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F MZBKiya0sRcB DZ8X8M%2Fimage
    8. Select “Deposit”.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F
    9. Select “Max”.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F MZBL H438fUBbLcZFMq%2Fimage
    10. Select “Confirm”.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F MZBLkeNa ZtHy4BgNi6%2Fimage
    11. Confirm transaction in MetaMask.
    assets%2F MXVLUYT4 8bBeXXW 1r%2F MZBHkXOBSHnFpHDPmBf%2F

    Stick to Defi!

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