[PLP#0004] - Transitioning from SushiSwap to SpookySwap DEX

General Discussion Pre Lucidao Proposals
1

Dear Lucidao community,

After carefully evaluating recent evolutions of the DEFI world, I’m proposing the transition of Lucidao liquidity pool and consequently LCD token trading from SushiSwap towards SpookySwap DEX.

SpookySwap has earned endorsement and support from Fantom Foundation and it’s currently the leading DEX on Fantom Opera having the highest TVL and user base for native Fantom protocols.

The process to execute the transition will be as follows:

  • In order to maintain a seamless trading experience only 50% of the DAO controlled FTM/LCD LP tokens will be removed from SushiSwap and transferred to SpookySwap.
  • The remaining 50% will be transferred to conclude the transition between the DEXs.

We are already in talks with SpookySwap team both on the LP tokens (FTM/LCD) transition and the farming strategy - as presented in PLP#0003 - in order to make the transition smooth and effective.

Please interact here below by adding comments, ideas and show your general feeling about the PLP by using the poll.

  • For: Approve the transition
  • Against

0 voters

3 Likes
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We think this is the right move. Not only for liquidity, but FTM is one of the fastest growing networks with enormous potential for growth. SpookySwap is native to Fantom Network and having them as a provider will be beneficial in the coming year as we continue to see the platform develop.

Moving forward, we will consider opening our doors to multiple liquidity providers as we grow.

7 Likes
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It is a wise choice. SushiSwap is a great DEX but it has governance issues now and Fantom users are mainly in the two native Fantom DEXes.
I would have preferred SpiritSwap because I trust their team more than the SpookySwap one (all of them are doxxed) but it’s good as well.

So, come on. Let’s do it!

5 Likes
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Fully on board with this proposal with Spookyswap being native to the Fantom Network. Perhaps its worth considering farming rewards in $BOO which has more upside potential than $Sushi

4 Likes