SpookySwap Review 2026: A Fantom-Born DEX Now Centered on Sonic

SpookySwap is a decentralized exchange and automated market maker that launched in April 2021 on the Fantom Opera network. Its GitHub describes it as the spookiest DEX on Fantom, and it has grown from a simple swap and farming site into a multi-version platform.

At its peak in January 2022, tracked TVL reached about $1.665 billion. Today it is much smaller, with roughly $1M in TVL, around $783K in 30-day DEX volume, and a treasury of about $5.4K according to analytics trackers. Most recent volume comes from Sonic, while Fantom still holds the largest share of locked value.

The product line includes V2 pools, V3 concentrated liquidity, and a perps offering via Symmio. Governance runs through the BOO token and its staked form, xBOO. One source says the platform was launched by a team of unknown developers, and public sources do not name audits.

SpookySwap is an automated market maker. Instead of an order book matching buyers and sellers, trades happen against liquidity pools, which are smart contracts holding two tokens. A pricing formula adjusts the ratio as people trade, and the swap fee is paid to the people who funded the pool.

In V2, liquidity is spread across the whole price curve and the fee is a flat 0.2%. In V3, providers pick a price range, which concentrates their capital and can raise fee income per dollar. Each V3 pool has its own fee tier between 0.01% and 1%.

A share of fees goes to the protocol treasury and to xBOO stakers, who lock BOO for governance and rewards. The protocol also earns builder-code fees from perpetual trades routed through Symmio. Users trade from their own wallet, so the protocol never holds their funds outside the contracts they interact with.

Swap fees depend on the version. SpookySwap V2 charges a flat 0.2%, and one source reports 0.22% for limit orders. V3 pools charge between 0.01% and 1%, set per pool.

Part of the swap fee goes to the protocol: tracking data says 0.03% of each V2 trade goes to the treasury, and 0 to 15% of V3 fees do, with a share also going to xBOO stakers. Network gas fees are paid in the chain's native token and are separate. The project does not publish a full fee schedule in the material available, so confirm current rates on the swap screen before you trade.

SpookySwap is non-custodial, so you keep control of your keys, but funds sent to pools are held by smart contracts. The material available does not name an audit firm or list audit reports, and one source says the team is made up of unknown developers. Check the project's own documentation for current audit and contract details before depositing.

The protocol's code is public on GitHub, which allows independent review. Small liquidity and treasury sizes limit the cushion if something goes wrong. Bridging assets between chains adds a further layer of risk. Regulatory status is not stated, and this is a DeFi protocol, not a regulated venue. Only use funds you can afford to lose.

SpookySwap is for self-custody DeFi users on Sonic or Fantom who want to swap smaller amounts, provide liquidity, or stake BOO for governance and fee rewards. It is less suited to large traders who need deep liquidity, or to newcomers who want audited, well-known venues.