HOW TO BUY and STAKE YOUR BOO
A good place to start in my opinion is at https://spookyswap.finance/, this project's token correlates with Fantom so you maintain exposure, whilst earning in fees, participating in governance, and earning rewards staking your $BOO!
SpookySwap maintains great documents on their project here. But we will quickly explain how to buy BOO and earn more BOO from trade fees!
How to Swap
REQUIREMENTS
MetaMask
A Small Amount of FTM for Gas
How to get Free Gas
STEPS
- First connect to Fantom Opera with your MetaMask wallet by clicking the Connect Wallet button on the top left. MetaMask will ask your permission to switch networks. If you do not have the Fantom Mainnet set up, SpookySwap will do this for you.
- Select "Swap" from the sidebar menu.
- Select FTM to swap by clicking "From", a window will pop up and show all your token balances.
- Once you have selected FTM in "From" token, select your "To" the same way, in this case we want to select BOO.
- Before swapping tokens, you will be prompted to approve them. Click on the "Approve" button, and accept the approval confirmation in Metamask. This will take a second to do.
- Once "Swap" is no longer gray, select it, a confirmation will pop up again in Metamask, confirm to swap your FTM to BOO.
- You will see the "Transaction Submitted" splash screen while your wait for the swap to process. Once finished you have now successfully traded your FTM to BOO!
- Now, head over over to the Stake Boo Tab.
- Now you approve your BOO to stake and stake how much BOO you want! Again accept the confirmation and wait. Then "Stake" will be available to press, add how much BOO you want to stake and BOOM, confirm again and once finished you are done! During this time your xBOO value will be going up as you earn trade fees! Sit back relax and watch the money go up!!!
xBOO (Buyback BOO) FAQ (From SpookySwap)
What do I receive when I stake BOO in the xBOO pool?
You will receive xBOO token which represents your share of the pool. The number of your xBOO tokens won't go up, however the value of each each xBOO will go up because of the trading fees buying back BOO, which is then sent to the pool.
Where do these fees come from?
Before buyback is effective, the trade fee is 0.2% and all of it goes to LP providers. Once buyback is enabled, the trade fee will change such that 0.17% goes to LP providers and 0.03% goes to a contract which swaps the collected fees into BOO and sends the BOO to the xBOO pool.
What can I do with xBOO? Does it work with other protocols?
You can trade, vote with, make LP, stake and use xBOO just as you would use BOO. xBOO works on other protocols are well. There won't be an official trading pool, but anyone is welcome to make one.
What does the APR for the xBOO pool depend on?
Because the value of xBOO accrues over trade fees, the APR of the pool will largely depend on the trading volume for that day. To give an approximate APR, we are displaying the average over the last 7 days.
What if I lose my xBOO?
xBOO is required to be used to redeem for BOO so be careful with it!
