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SpiritSwap (SPIRIT) is the 1582nd largest cryptocurrency in the world by market cap, valued at $5,678,517. The current price of SpiritSwap is $0.00735468, which is 11.609% higher than yesterday. Prices have ranged between $0.00782512 and $0.00714731 over the past 24 hours. All prices are listed in US dollars and accurate as of March 22, 2023 04:03 UTC.
Fantom is a popular decentralized network with the capability of hosting smart contracts, deploying dApps and intends to contest Ethereum’s throne as the King of DeFi. As the Fantom network’s ecosystem has matured, more and more platforms are being built atop its architecture.
SpiritSwap was one of the first decentralized exchanges (DEX) to be released on Fantom, and offers network users typical DeFi incentives such as staking, farming and token swapping.
SpiritSwap uses the traditional automated market making (AMM) algorithm, designed very similarly to the mechanism used by popular DEX Uniswap. The premise is based on token holders providing liquidity by contributing their assets to a pool. Whenever a trade is made on SpiritSwap using those tokens, liquidity providers are rewarded with a small fee.
SpiritSwap offers a large range of supported tokens, and supports bridging cryptocurrencies to and from six different blockchains, including Ethereum, Binance Smart Chain and Polygon. The platform is in constant development with new features being added all the time. Users can ‘go long’ on their crypto investments, buy/sell bonds and participate in lending and borrowing pools.
SPIRIT is an FTM token native to the SpiritSwap infrastructure. It is used as a key governance tool for the platform, and can be staked (locked-up) in exchange for additional tokens.
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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