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Best DEX on Fantom: SpiritSwap and SpookySwap

Smart contract blockchain Fantom is used to build and run decentralized applications. It was built as one of the common platforms giving an alternative to the Ethereum network. It was launched at the end of December 2019.

Like any other alternative to the Ethereum network, Fantom offers greater scalability and lower payments than Ethereum. The platform operates on the Lachesis consensus algorithm, which is based on a combination of Proof of Stake (PoS) and aBFT. The Fantom network consists of three parts:

  1. Application Layer – layer is designed for running applications.
  2. Ware Layer – smart contracts and programs are executed in it.
  3. Core Layer – a layer for conducting transactions.

Transactions on the Fantom blockchain are speedy. They are approved and performed in one second without waiting for long block confirmations. It makes Fantom one of the quickest platforms.

Let’s take a look at two of the best Fantom DEX.

SpiritSwap

SpiritSwap is considered one of the biggest DEX on the Fantom network.

It is a very easy-to-use platform as it has an all-known Uniswap. The app offers many different features such as:

  • sales;
  • lending;
  • IDO;
  • NFT dealing;
  • liquidity pools;
  • automatic insurance.

SpiritSwap has been improving user experience over the past few months. The project provides a very detailed analysis of network transactions on the Fantom blockchain. Also, it affords users an asset analysis panel. Users can view their assets, blocking, distribution, and income from liquidity mining on the board.

SpiritSwap certainly helps its users trade, but it also promotes betting and traders to be rewarded for placing tokens on the Fantom Network (FTM). It can make their network more secure. The advantage is that you can choose your preferences and then start earning after a few clicks.

In addition, if you use the SPIRIT token, you will get an advantage on every trade.

At the time of writing, SpiritSwap carries around 1000 tradable pairs.

SpookySwap

SpookySwap is a DEX platform with the highest transaction volume and blocked funds on the network, automatically giving it one of the most significant projects built on Fantom.

Like Uniswap, it uses an AMM mechanism. It is the underlying protocol that supports all decentralized exchanges and removes the need for centralization.

SpookySwap promotes the exchange of different digital assets across the Fantom ecosystem. When you make an asset change, you will lack to pay a fee of 0.2% of the transaction amount. Essentially, SpookySwap will manage all of these transaction fees to tribute liquidity providers.

At the time of writing, SpookySwap supports over 1600 tradable pairs.

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