Spookyswap Definition: A Simple Explanation for New Users
Spookyswap Definition : SpookySwap is a decentralized exchange (DEX) built on a fast, low-cost blockchain that lets users trade tokens, provide liquidity, and earn rewards without a central intermediary. For new users, it acts like an automated market place where token prices are set algorithmically and anyone with a compatible wallet can participate. Spookyswap Definition: Quick overview At its core, SpookySwap is a user interface and smart-contract suite that connects traders and liquidity providers on the Fantom -based ecosystem. It combines swapping, liquidity pools, and yield farming with a familiar DEX workflow: choose a token pair, approve the token, and swap or deposit. Because it runs on an efficient layer-1 network, transaction costs and confirmation times are typically much lower than on Ethereum. How SpookySwap works — the basics SpookySwap uses smart contracts to automate trades and liquidity management. Instead of order books used by centralized exchanges, Spo...