1/ Inside The Episode: #FantomUnchained Ep. 45
- The bull case for @SpookySwap V2 Farms...🧵
I'll outline:
- Brief SpookySwap Background
- Why V2 Farms Matter
- The Impacts of the Upgrade
- Longer term POV on $BOO
- The bull case for @SpookySwap V2 Farms...🧵
I'll outline:
- Brief SpookySwap Background
- Why V2 Farms Matter
- The Impacts of the Upgrade
- Longer term POV on $BOO
2/ As a co-host of #FantomUnchained...
I'm always amazed by the deep knowledge of our crew. Further, the amount I learn on a WEEKLY basis!
In Episode 45, @0xBebis_ detailed his thoughts around why the @SpookySwap farm migration to MasterChef V2 is such a big deal long term...📈
I'm always amazed by the deep knowledge of our crew. Further, the amount I learn on a WEEKLY basis!
In Episode 45, @0xBebis_ detailed his thoughts around why the @SpookySwap farm migration to MasterChef V2 is such a big deal long term...📈
3/ Currently, there are 76,000+ $BOO token holders on $FTM, of which, I'm one!
I read @SpookySwap medium article on Farm Migration...
But, I learned far more about its POTENTIAL benefits from @0xBebis_ explanation of its POTENTIAL impacts. Let's dig in!
spookyswap.medium.com/spookyswap-far…
I read @SpookySwap medium article on Farm Migration...
But, I learned far more about its POTENTIAL benefits from @0xBebis_ explanation of its POTENTIAL impacts. Let's dig in!
spookyswap.medium.com/spookyswap-far…
4/ @SpookySwap is an (AMM) / (DEX) on the #Fantom Network
Overview:
- #1 protocol by TVL on $FTM ($120MM)
- #1 DEX by volume on $FTM
- #1 DEX by revenue per D/W/M on $FTM
- #1 desired farm listing destination on $FTM
Also were a TOP 5 DEX (all chains) during the last bull!
Overview:
- #1 protocol by TVL on $FTM ($120MM)
- #1 DEX by volume on $FTM
- #1 DEX by revenue per D/W/M on $FTM
- #1 desired farm listing destination on $FTM
Also were a TOP 5 DEX (all chains) during the last bull!
5/ FYI: @SpookySwap takes a swap fee of 0.2% on all swaps...
0.17% of every swap goes to liquidity providers. This is a sustainable long term yield for LP's
0.03% of fees goes to buyback $BOO & perpetuates the value increase of single sided staked $BOO: known as $xBOO
0.17% of every swap goes to liquidity providers. This is a sustainable long term yield for LP's
0.03% of fees goes to buyback $BOO & perpetuates the value increase of single sided staked $BOO: known as $xBOO
6/ So, why do V2 farms matter?
They:
1. Take pressure off $BOO token to maintain liquidity
2. Enable protocols to emit their token on $FTM largest DEX
3. Automate reward workflow: cost efficiency + time
4. Drive success independent of product
5. Make the $BOO token stronger
They:
1. Take pressure off $BOO token to maintain liquidity
2. Enable protocols to emit their token on $FTM largest DEX
3. Automate reward workflow: cost efficiency + time
4. Drive success independent of product
5. Make the $BOO token stronger
7/ Impact 1: Taking Pressure off $BOO to Maintain Liquidity
@SpookySwap has been subsidizing their liquidity via their $BOO token since day 1
With multi-rewarders, farms can now attract users without high $BOO (only) APRs - slowing native token inflation via farm emissions…
@SpookySwap has been subsidizing their liquidity via their $BOO token since day 1
With multi-rewarders, farms can now attract users without high $BOO (only) APRs - slowing native token inflation via farm emissions…
8/ @SpookySwap hosts farms with big name $FTM native & non-$FTM native protocols...
With the V2 upgrade; farms for large protocols such as $LINK, $WOO, $gALCX, $MULTI and/or newcomers can be incentivized natively...
This allows Spooky to drive user adoption via partnerships!
With the V2 upgrade; farms for large protocols such as $LINK, $WOO, $gALCX, $MULTI and/or newcomers can be incentivized natively...
This allows Spooky to drive user adoption via partnerships!
9/ Impact 2: Enable protocols to emit their token on $FTM's largest DEX
As mentioned, @SpookySwap is arguably the most desirable DEX to be listed on $FTM, the same goes for a Spooky hosted liquidity farms...
The upgrade should benefit protocols big & small...
But how?
As mentioned, @SpookySwap is arguably the most desirable DEX to be listed on $FTM, the same goes for a Spooky hosted liquidity farms...
The upgrade should benefit protocols big & small...
But how?
10/ Protocols in DeFi need a few things to survive: deep liquidity, low trade slippage & increased token holders
As @0xBebis_ points out, protocols are likely going to be "emitting their tokens anyway"...
What better place to do it than $FTM #1 DEX?
Increasing user eyeballs!
As @0xBebis_ points out, protocols are likely going to be "emitting their tokens anyway"...
What better place to do it than $FTM #1 DEX?
Increasing user eyeballs!
11/ Partner protocols instantly benefit from the value of @SpookySwap's size, plus the demand of their ever-growing user base...
For large protocols, this likely means deeper liquidity for their LPs
For smaller protocols, it means they can draw immediate attention to their farm
For large protocols, this likely means deeper liquidity for their LPs
For smaller protocols, it means they can draw immediate attention to their farm
12/ Impact 3: Automate reward workflow: cost efficiency + time
With the permissionless nature of the multi-rewarder, developers will have more tools to add their own LP rewards instantly
This is going to save time for both @SpookySwap & their partner protocols...
Time = Money
With the permissionless nature of the multi-rewarder, developers will have more tools to add their own LP rewards instantly
This is going to save time for both @SpookySwap & their partner protocols...
Time = Money
13/ Previously, adding incentives from another project required utilizing Partnered Staking through $BOO governance to receive a higher $BOO farm weight
SpookySwap Biz Dev likely had to submit gov. proposal
Now, governance approval is not needed. This is a productivity driver
SpookySwap Biz Dev likely had to submit gov. proposal
Now, governance approval is not needed. This is a productivity driver
14/ By eliminating busy work, @SpookySwap can focus on other, potentially more important tasks or potentially ROI driving initiatives!
This also means @SpookySwap is now easier for partners to work with...
Being easy to work with usually translates into greater partnerships!
This also means @SpookySwap is now easier for partners to work with...
Being easy to work with usually translates into greater partnerships!
15/ Impact 4: Drive success independent of products
Speak of Biz Dev & Marketing...Heavy development isn't required to actualize success with V2
It's Marketing & Business Development, which is relatively INEXPENSIVE work
Like most, I want to invest in profitable protocols...
Speak of Biz Dev & Marketing...Heavy development isn't required to actualize success with V2
It's Marketing & Business Development, which is relatively INEXPENSIVE work
Like most, I want to invest in profitable protocols...
16/ If @SpookySwap V2 farms can drive organic growth, without the dependence of executing on additional product roadmaps (driving higher costs), then you have a recipe for profitability success!
Spooky has one of the best Biz Dev teams on $FTM led by @OwenP30 - sky's the limit!
Spooky has one of the best Biz Dev teams on $FTM led by @OwenP30 - sky's the limit!
17/ Impact 5: Make the $BOO token stronger
With LP rewards now denominated in another token (not $BOO), $BOO can organically become less inflationary
Organically less "just another farming token"
Protocol managers try to make their token more successful, this can do that!
With LP rewards now denominated in another token (not $BOO), $BOO can organically become less inflationary
Organically less "just another farming token"
Protocol managers try to make their token more successful, this can do that!
18/ Further, looking at the $BOO emissions schedule...
$BOO has a Total Maximum supply of 13,666,000
About 70% of $BOO tokens have been emitted (nearly 9.3MM tokens in circ.)
The remaining tokens will be emitted over 3 years. As shown, the weekly emissions curve has slowed...
$BOO has a Total Maximum supply of 13,666,000
About 70% of $BOO tokens have been emitted (nearly 9.3MM tokens in circ.)
The remaining tokens will be emitted over 3 years. As shown, the weekly emissions curve has slowed...
19/ With partner incentivized LPs, @SpookySwap can be smarter with how they use their remaining $BOO emissions. Partner incentives can drive demand!
This upgrade also helps solve the "what happens when native emissions end?" dilemma
Partner tokens can drive APR longer term 🤝
This upgrade also helps solve the "what happens when native emissions end?" dilemma
Partner tokens can drive APR longer term 🤝
20/ Quoting @0xBebis_ in Ep. 45:
"It's really all about making the small changes necessary to get demand growth higher than supply growth. This gives them the tool they need to do that…They're kind of sticking to the SushiSwap playbook, but executing a little bit better"
"It's really all about making the small changes necessary to get demand growth higher than supply growth. This gives them the tool they need to do that…They're kind of sticking to the SushiSwap playbook, but executing a little bit better"
21/ Cont.
"I think this brings a new horizon over the next 2, 3, 4 month for @SpookySwap. The revenue they're generating isn't diminished by supply growth or inflation of the $BOO token. There will come a point where demand growth surpasses supply up to the $10, $20 mark" *NFA*
"I think this brings a new horizon over the next 2, 3, 4 month for @SpookySwap. The revenue they're generating isn't diminished by supply growth or inflation of the $BOO token. There will come a point where demand growth surpasses supply up to the $10, $20 mark" *NFA*
22/ Couple the aforementioned upgrades/benefits with the deflationary tokenomic model of $xBOO
- 0.03% of fees goes to buyback $BOO
You have a net positive price impact for $BOO tokens LT
FYI: $xBOO buyback has exceeded $BOO emissions multiple times when trade vol. is high 👇
- 0.03% of fees goes to buyback $BOO
You have a net positive price impact for $BOO tokens LT
FYI: $xBOO buyback has exceeded $BOO emissions multiple times when trade vol. is high 👇
23/ In reality, these V2 farm upgrades a VERY simple move by @SpookySwap...
But, the potential is astronomical & a lot of the potential is not tied to further development
Personally, I love the simplicity. I love cost and time savings. I love the benefits this brings for $BOO
But, the potential is astronomical & a lot of the potential is not tied to further development
Personally, I love the simplicity. I love cost and time savings. I love the benefits this brings for $BOO
24/ I'm increasingly bullish about the biggest DEX on $FTM in @SpookySwap...
The professional nature in which they operate gives me confidence this team is here to become a #DeFi staple for years to come...
What is clear: the $BOO lifecycle has only just begun. Welcome to V2!
The professional nature in which they operate gives me confidence this team is here to become a #DeFi staple for years to come...
What is clear: the $BOO lifecycle has only just begun. Welcome to V2!
25/ THANK YOU to the #FantomUnchained crew for continually explaining that which lies below the surface 🤝
Thanks to @0xBebis_ for the combination of technical & tokenomic knowledge he brings to the equation!
From all of us @FTMAlerts we thank YOU for riding with us always 🤜🤛
Thanks to @0xBebis_ for the combination of technical & tokenomic knowledge he brings to the equation!
From all of us @FTMAlerts we thank YOU for riding with us always 🤜🤛
ICYMI: You can find the full #FantomUnchained Episode 45 below!
Also available on all major podcast sources...
Tune in weekly for more great information shared by @FTMAlerts, @cryptohamm, @0xBebis_, @NickDrakon, @justinmsilver and myself!
Also available on all major podcast sources...
Tune in weekly for more great information shared by @FTMAlerts, @cryptohamm, @0xBebis_, @NickDrakon, @justinmsilver and myself!
• • •
Missing some Tweet in this thread? You can try to
force a refresh
