Commonwealth is partnering with the team at SpiritSwap to give them an all-in-one governance platform. SpiritSwap adds incentives for Fantom network participants, allowing them to exchange tokens, earn with liquidity pools, and farm with this native Fantom DEX. We’re excited to see their project grow on our platform.
SpiritSwap: The First Incentivized DEX on Fantom
SpiritSwap is a versatile DEX and DeFi suite on Fantom launching with trading, staking, and farming of its native token. Its token is uniquely tied to Fantom, offering incentives other AMMs on Fantom cannot provide due to their tokens being tied to their Ethereum communities. This notable difference means SpiritSwap will help grow Fantom’s user base and bring more liquidity to the Fantom chain.
With SpiritSwap, Fantom’s blockchain has an AMM with liquidity incentives. Liquidity providers yield farm the protocol token ($SPIRIT), launching four incentivized liquidity pools (FTM-SPIRIT, FTM-USDC, FTM-WETH, FTM-WBTC). Over time, more pools will be added with an emphasis on protocol tokens that build on Fantom.
Commonwealth: Growing Decentralized Communities
Commonwealth is the governance tool and crypto-native community used by many of the top DeFi projects to discuss, vote on, and fund their initiatives. Since our platform accommodates various governance processes, we’ve created an all-in-one solution for DeFi projects seeking one platform to run their community.
SpiritSwap’s community operations will be fundamentally improved by moving to Commonwealth. Everything from discussions to crowdfunding to executing proposals can happen in one place, giving SpiritSwap a streamlined governance process on a multi-functional platform.
SpiritSwap’s Commonwealth platform was built custom for their ecosystem and includes the following capabilities:
- Crypto-Native Token Forum: The SpiritSwap community on Commonwealth comes with full forum capabilities including threaded discussions, upvotes, user profiles, and more.
- Snapshot Integration: As part of the seamless governance experience that Commonwealth offers, SpiritSwap’s platform includes full integration with their Snapshot. By joining Commonwealth, the community can move from discussion post to proposal with complete transparency along the way. This enables the SpiritSwap community to consider the entire discussion leading up to the Snapshot proposal when deciding on their vote.
Participate in SpiritSwap’s Commonwealth Forum
The SpiritSwap Commonwealth forum is now live and actively used by the SpiritSwap community. Users are encouraged to participate in the ongoing discussions on their new platform.
The latest proposals include:
- A SpiritSwap and Morpheus Swap merger, which is anticipated to produce the following benefits: greater incentives for all liquidity providers, increase TVL, increase protocol-generated revenue, increase in 4SPIRIT payouts, provide constant buy pressure for $SPIRIT, increase the amount of $SPIRIT locked for $inSPIRIT, and reduce user-experienced swap fees. Users have until February 1 to vote on this proposal.
- The Spiritswap community utilizes DEUS technology to list 500+ synthetics directly via the Spiritswap frontend and share the trading revenue amongst holders. Using the DEUS contracts infrastructure and dSynths iFrame and Front-end technology will enable Spiritswap users to trade ~500+ synthetic SP500 stocks and ~30+ synthetic crypto assets directly on the Spiritswap website.
The live forum can be found at https://commonwealth.im/spiritswap