| Fully Diluted Valuation | $261,919 |
|---|---|
| 24H Trading Volume | $3 |
| 24H Low / High | $0.00 / $ 0.00 |
| Circulating Supply | 610.26M |
| Total Supply | 1.00B |
| Max Supply | 1.00B |
| Categories | Exchange-based Tokens 3 more |
|---|---|
| Founder | Rober Neir |
| Website | spiritswap.finance |
| Socials | |
| Chains | Fantom Ecosystem |
| Explorer | Ftmscan 3 more |
| Contracts |
0x5cc....8e59b
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| Name | Pair | OG Score |
|---|
SpiritSwap (SPIRIT) emerges as a prominent player in the decentralized finance (DeFi) landscape, providing users with a decentralized exchange (DEX) on the Fantom Opera Chain. Rooted in the principles of the Uniswap constant-product automated market maker (AMM), SpiritSwap facilitates seamless token swaps without the need for centralized governance.
Automated Market Maker (AMM) Mechanism:
At the core of SpiritSwap lies the AMM mechanism, allowing liquidity providers to effortlessly deposit pairs of tokens, with an algorithm autonomously setting market rates. Traders benefit from guaranteed swap rates, and each transaction incurs a 0.25% fee, distributed among liquidity providers as compensation for their contribution.
Liquidity Provision and SPIRIT-LP Tokens:
Becoming a liquidity provider on SpiritSwap involves depositing equal values of two tokens, earning SPIRIT-LP tokens in return. These tokens represent a proportional share of the liquidity pool, and providers can claim their underlying tokens at any time. The 0.25% fee generated from each swap is added back to the liquidity pool, increasing the value of SPIRIT-LP tokens. Liquidity providers can also engage in yield farming, enhancing their returns.
SPIRIT Token: A Versatile Utility Token:
SPIRIT serves as the utility token for the SpiritSwap DEX, offering a range of functionalities, including trading, farming, staking, and more. This interoperable token plays a crucial role in the platform's ecosystem, awarded to users based on their activity, usage, and efforts within SpiritSwap. Inactive users do not receive incentives on the platform.
Benefits for SPIRIT Holders:
SPIRIT token holders unlock various benefits within the SpiritSwap ecosystem. By participating in token swaps and depositing liquidity, users receive SPIRIT LP tokens, which can be staked for farming additional SPIRIT tokens. The inSPIRIT token, obtained by locking SPIRIT LP tokens, grants users non-transferable tokens on the chain, boosting farming rewards and providing governance participation opportunities.
Historical Overview:
The SPIRIT token has a total supply of 1,000,000,000, according to the whitepaper. As the platform continues to evolve, SPIRIT holders can anticipate enhanced farming rewards, voting privileges, and participation incentives, cementing SpiritSwap's position as a dynamic and user-centric decentralized exchange on the Fantom Opera Chain.
Conclusion:
SpiritSwap (SPIRIT) not only offers a decentralized exchange but also introduces a comprehensive ecosystem that rewards active participation and contributions. With its innovative AMM mechanism, liquidity provision opportunities, and versatile utility token, SpiritSwap stands out as a valuable player in the ever-expanding realm of decentralized finance. As users continue to explore the benefits of SPIRIT, the platform's community-driven ethos is likely to contribute to its sustained growth and success.
SpiritSwap (SPIRIT) distinguishes itself with a decentralized exchange on the Fantom Opera Chain, featuring an innovative Automated Market Maker (AMM) mechanism and a versatile utility token (SPIRIT) that rewards users for active participation in trading, farming, and staking.
Rober Neir is the founder of SpiritSwap (SPIRIT)
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