Spookyswap is a decentralized exchange (DEX) built on the Fantom blockchain. It aims to provide fast and low-cost transactions for trading various tokens. The platform allows users to swap tokens directly from their wallets without the need for intermediaries. Spookyswap was founded in 2021 by the Fantom Foundation. The name "Spookyswap" is inspired by spooky creatures and the concept of decentralized finance (DeFi).
Spookyswap, a decentralized exchange (DEX) built on the Fantom blockchain, offers several benefits compared to its direct competitors. One of its main advantages is its lower transaction fees. Spookyswap utilizes the Fantom blockchain's high throughput and low fees, allowing users to trade assets at a lower cost compared to other DEXs like Uniswap or SushiSwap, which operate on the Ethereum network with often expensive gas fees.
Another benefit of Spookyswap is faster transaction confirmation times. The Fantom blockchain's consensus mechanism enables faster block confirmations, resulting in quicker transaction settlements on Spookyswap compared to Ethereum-based DEXs. This can be particularly advantageous for traders looking to take advantage of price movements or execute trades promptly.
Additionally, Spookyswap provides a user-friendly interface and seamless integration with popular wallets like MetaMask, making it convenient for both newcomers and experienced users. The platform also offers a wide range of tokens to trade, including popular cryptocurrencies and Fantom-based assets.
It's important to note that while Spookyswap has its advantages, other DEXs such as Uniswap and SushiSwap have established themselves as leading platforms with broader liquidity pools, wider token availability, and larger user bases. Users should consider their specific trading needs, liquidity requirements, and overall market conditions when choosing a DEX.
In conclusion, Spookyswap distinguishes itself by offering lower transaction fees, faster transaction confirmations, and a user-friendly interface. However, users should carefully assess their requirements and consider competitors like Uniswap and SushiSwap before deciding on the most suitable DEX for their needs.
Spookyswap is a decentralized exchange (DEX) built on the Ethereum blockchain. It leverages the Automated Market Maker (AMM) model, which replaces traditional order books with liquidity pools. These pools are filled with users' funds, allowing them to trade assets directly from their wallets.
The underlying technology behind Spookyswap is the concept of smart contracts. These are self-executing contracts with predefined rules and conditions. They facilitate the exchange of assets between users, eliminating the need for intermediaries. In the case of Spookyswap, the smart contracts handle the creation and management of liquidity pools.
On the Ethereum blockchain, Spookyswap utilizes the ERC-20 standard, which enables the creation and representation of fungible tokens. Users can deposit their tokens into the liquidity pools and receive Liquidity Provider (LP) tokens in return. These tokens represent their share of the liquidity pool and can be used to earn fees generated by transactions.
When a user wants to trade on Spookyswap, they interact with the smart contracts to exchange tokens. The AMM algorithm dynamically sets the token prices based on the ratio of the tokens in the liquidity pool. As a result, larger trades can cause price slippage due to the change in the pool's token balance.
Users can also earn rewards by staking their LP tokens in yield farming or liquidity mining programs, where they contribute to the liquidity of the platform and receive additional tokens as incentives.
In summary, Spookyswap is a decentralized exchange built on the Ethereum blockchain that utilizes smart contracts and an AMM model to enable users to trade assets directly, without the need for intermediaries.
DIA takes a comprehensive approach to sourcing data by collecting trade information from various DeFi and NFT exchanges. The process differs depending on the type of exchange being referred to.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA uses scrapers to directly collect trades from exchange databases. This is done using Rest APIs or WebSocket APIs. The frequency of data collection varies between exchanges, ranging from 1 to 7 seconds. By retrieving data as close to the source as possible, DIA ensures high precision and accuracy.
On the other hand, for decentralized exchanges, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, enhancing data accuracy. Examples of decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.
In the case of NFT marketplaces, DIA captures live trading data through integration with the smart contracts of selected platforms. The retrieval period for NFT transactions ranges from 20 seconds to 1 minute, ensuring real-time coverage of all NFT transactions. By focusing on the actual transactions rather than bids and offers, DIA ensures data precision from the broader NFT market. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
By leveraging a combination of direct data collection from exchange databases and blockchain integration, DIA can provide highly accurate and customizable price feeds for cryptocurrencies, NFTs, and other assets. This comprehensive data management strategy enhances the reliability and accuracy of the information provided by DIA's price feeds.
DIA utilizes different processes to compute price oracles based on the type of exchange being referred to. For DeFi exchanges like Spookyswap, DIA follows a two-step approach.
In the first step, data cleaning and outlier detection are performed to ensure the resilience of the price estimation process against irregularities such as market manipulation or flash crashes. Outliers and data points that deviate significantly from the median are excluded using an Interquartile Range (IR) filter. This filter sorts trades by their recorded prices and divides the range into quartiles. Trades falling outside the first and last quartiles are filtered out, allowing only trades from the "middle" quartiles to proceed.
In the second step, DIA applies price determination methodologies to calculate the final price from the remaining data points. One example of such a methodology is the Volume Weighted Average Price (VWAP), which factors in the volume of trades. Another example is the Moving Average with Interquartile Range Filter (MAIR), which creates blocks of trades ordered by timestamp and takes the weighted average price of each block to arrive at the final price.
On the other hand, when building price oracles for NFT collections, DIA adopts a different process. The on-chain trade data is first processed through cleansing filters to exclude market outliers and manipulation techniques. Then, pricing methodologies are applied to determine the final price point.
One such methodology is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain within a given time window. However, to mitigate the vulnerability of this method to manipulation, advanced methodologies like the Moving Average of Floor Price can be utilized. This methodology calculates the moving average of a collection's floor price, taking customizable parameters into account.
By employing these processes and methodologies, DIA aims to provide realistic and reliable price data for both DeFi exchanges and NFT collections.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.