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PaintSwap Partnership With SpookySwap

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PaintSwap partnership with SpookySwap. Their focus recently has been creating the best NFT marketplace, and the dex side has not had much attention. There are much better dexes on Fantom, so rather than saturate the ecosystem, they have decided to discontinue their DEX and move all the LP over to the biggest DEX on Fantom Spooky Swap. This will give you much deeper liquidity pools for other tokens when buying and selling BRUSH rather than the traditional FTM pair we have liquidity for on PaintSwap.

What does this mean? We are going to decommission the DEX on PaintSwap the farms will still be on PaintSwap just using SpookySwap LPs rather than PaintSwap LPs. They have decided to remove most of the farms which are not providing the platform much value the remaining farms will be:

BRUSH-FTM 20x
BEETS-FTM 1x
BRUSH Single side staking 4x

All the BRUSH buying mechanisms for the NFT marketplace listing/minting fees, as well as collection submission and factory fees, will be done through the SpookSwap LPs behind the scenes as usual. As a result, the following will be removed:

Analytics

— DEX will be moved to the “Other” section for a couple of months to allow users to easily remove the liquidity who do not do it in time. It can always be done with smart contracts.

This will also increase the APR on the three remaining farms. The current farms will stop emissions on 28th of May 20:00 UTC and the new farms will start emissions at the same time on 28th of May 20:00 UTC you will be required to withdraw your LP from PaintSwap and re-create it on SpookySwap. This change affects only the painters in the PaintSwap farms who need to migrate their LP over, all other users of our platform do not need to worry or do anything.

Steps required (ideally before 28th May):

1 — Remove LP tokens from farms on paintswap.finance

2 — Withdraw tokens from the PaintSwap LP (Remove liquidity) on paintswap.finance

3 — Deposit tokens into the SpookySwap LP on spooky.fi

4 — Deposit LP tokens into the PaintSwap farms paintswap.finance. New spooky LPs will be in the “Finished section” until they go live because they do not have emissions yet.

About Spooky Swap

Spooky utilizes the Fantom network to deliver top speed, security, and scalable transactions. Your swaps will cost a fraction of a penny! Diverse Farms.

Website | Twitter |

About PaintSwap

PaintSwap is a decentralized finance powerhouse, combining an open NFT marketplace with a decentralized exchange (AMM) on the ever-growing Fantom Opera Network. Offering Fantom-inclusive farming pairs, low trading fees, and a user-oriented experience. PaintSwap looks to enhance the definition of a decentralized exchange while pushing forward the utility.

Website | Twitter |

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