SpookySwap: pool fees, Sonic contracts and liquidity exits

SpookySwap combines an automated-market-maker spot exchange with liquidity provision, farming and BOO-related products. Its V3 pools use concentrated liquidity, so the amount available near the current price depends on the ranges selected by liquidity providers. A separate Spooky Perps interface uses bilateral derivatives and third-party hedgers. The two services have different collateral, execution and withdrawal mechanics, which matter more than their shared branding.[1][20]

The Sonic contract registry lists V2 and V3 factories, routers, farming contracts and a launchpad. It also explicitly marks an older V3 position manager and router as deprecated. A contract copied from an old guide is therefore not interchangeable with the registry’s current deployment. The documentation retains Fantom examples and entries for other networks; those historical references do not establish comparable current liquidity on every chain.[13]

A range order cannot reproduce every instruction available on a central order book. The swap guide describes buy-limit and take-profit-like uses, but says the same mechanism cannot implement buy-stop or stop-loss orders. Fees earned while the range is active are compensation for providing liquidity. They do not remove the risk that the position accumulates an asset whose price is falling.[2]

The quote panel is particularly useful on a pool-based venue: it shows route, expected output, minimum output, price impact and network fee. Price impact comes from the order’s own interaction with liquidity; slippage tolerance sets the permitted additional movement before execution. A pool with a low headline fee can still deliver a worse outcome than a deeper route when the requested trade is large relative to available liquidity.[4]

The fee tier belongs to the pool, rather than a personal VIP level based on account volume. A pair may have several pools with different fees and depths. The documented tier range is 0.01%, 0.05%, 0.30% and 1%; it is not a single universal SpookySwap tariff. The fee page also describes a protocol share that can be enabled. A liquidity provider’s revenue therefore should not automatically be calculated as the entire gross fee paid by every swap.[3]

The derivatives funding page requires care: it explains payments between long and short positions, then describes support for funding integration as planned. That does not establish a currently active charging interval or a zero-funding offer. The executable quote and market-specific information need to resolve current charges before trading. A precise round-trip perpetual cost cannot be calculated from the public guide’s leverage maximum alone.[17]

xBOO accounting is different from interest credited as additional receipt tokens. The documented model keeps the holder’s xBOO quantity unchanged while buybacks can increase the amount of BOO redeemable per receipt. For example, 10 xBOO at an assumed redemption ratio of 1.5 BOO per xBOO represents 15 BOO. This is only a ratio illustration; it is not a current quote, a promised yield or protection against a fall in BOO’s market value.[9]

The spot exchange connects to a wallet rather than receiving a bank transfer into a conventional exchange balance. The official connection guide supports browser wallets, WalletConnect and Coinbase Wallet. On mobile, WalletConnect uses the wallet application to approve the connection and subsequent requests. Before transferring assets, establish both the network and token contract: a matching ticker is insufficient to identify the intended asset.[24]

The Sonic token list distinguishes wrapped S from wrapped Ether and labels its USDC and EURC entries as bridged assets. This is relevant to funding and withdrawal compatibility: a destination supporting another version of USDC may not support the listed contract. The service is not documented here as a direct fiat deposit or bank-withdrawal account. Converting a token into a stablecoin within a pool still leaves a blockchain token in the wallet.[14]

A farm exit has three separate concepts: stop staking, harvest eligible rewards, and return the liquidity NFT to the wallet. One NFT can participate in more than one farm. If withdrawal is disabled because it remains staked elsewhere, the guide says to check the other farm, including inactive farms. Only after the liquidity receipt is accessible can its underlying pool position be managed as intended. The 72-hour reward condition should not be described as a universal lock on all wallet tokens.[8]

The BOO migration page is internally dated: it gives a four-month window starting 26 December 2024 while retaining wording that migration is live. By 21 October 2026 that stated window is in the past, and current reopening could not be established. Historically the route was one-way, 1:1 from Fantom to Sonic, with xBOO first unstaked into BOO. An old migration walkthrough is therefore not sufficient evidence that a holder can still use that conversion today.[12]

In a spot swap the wallet authorises a contract interaction; when providing liquidity, assets are committed to the pool and represented by the position receipt. V3 liquidity is concentrated into a chosen interval. If price leaves it, the position becomes inactive and stops earning fees, often consisting entirely of one asset. That change is not a margin liquidation. It still changes the asset exposure and can leave the provider with a loss relative to simply holding the original tokens.[5]

The hedger model is economically distinct from an AMM pool. A hedger can accept the user’s derivative exposure and offset it elsewhere; the documentation says the bilateral agreement is collateralised on-chain independently of the hedger’s external actions. The user still depends on the agreement’s collateral, valuation and settlement machinery. A claim that external hedging is delta-neutral does not prove that every operational or counterparty risk has disappeared.[20]

V3 token compatibility deserves a specific check during migration. Fee-on-transfer tokens require a customised solution outside the ordinary router; rebasing and reflection tokens introduce additional complications. The official integration page warns that successful pool creation is not enough to protect liquidity providers from a negative rebase. A familiar token name and an existing V2 position are therefore insufficient evidence that moving the same assets to V3 is operationally equivalent.[16]

The launchpad security page names a standard OpenZeppelin ERC-20 implementation, but does not by itself establish a full audit scope covering every router, farm, bridge and perpetual deployment. No customer insurance policy or claim entitlement was verified. Smart-contract design, an audit of a particular component and compensation after a loss are different kinds of evidence.[23]

Permissionless pool creation and wallet connectivity are technical access features. They do not establish that every interface product is available everywhere. The spot introduction describes open participation in pools, while the separate perpetual account flow requires acceptance of its own terms. Service eligibility must follow the actual product and contractual scope.[1][18]

The perpetual terms require contractual adulthood and exclude, among others, US, Canadian, South Korean, Singaporean and Chinese persons under their specified tests, plus additional restricted areas and sanctions categories. They expressly address perps.spooky.fi. Their scope should not be silently extended to every independently accessible spot contract.[28]

The troubleshooting guide suggests checking the supported network, browser and RPC connection when the interface cannot load positions. Such a repair changes how the user reaches the chain; it does not itself cancel a transaction already submitted. The same guide warns that official support does not need recovery phrases or private keys. A person contacting a user privately and claiming to fix a withdrawal should not be treated as authenticated support solely because they use the project’s name.[26]

SpookySwap documents IPFS hosting and desktop access as an additional frontend route. That can reduce dependence on one website host, but it does not remove wallet, RPC, blockchain or contract dependencies. The documentation’s availability claims are not an uptime commitment or an emergency dealing service. During a disruption, transaction status and the actual account or pool state are more informative than whether a browser button appears responsive.[25]

The perpetual terms call the contracting party SPOOKY.FI without establishing a complete incorporated legal name in the reviewed text. They specify Marshall Islands law and courts; that is not proof of incorporation or a financial licence. No positive regulatory permission or compensation-scheme entitlement is entered for the service.[28]

The V2-to-V3 migration is a change in the liquidity position, rather than a simple cosmetic interface update. The documented process removes liquidity and earned fees from V2, then creates the V3 position after choosing its range and pool tier. Token support and wallet compatibility need to be resolved for that route. This is separate from moving BOO between Fantom and Sonic, and separate again from replacing a deprecated Sonic router.[15]

Operator

SPOOKY.FI; incorporated operator not established

Exchange model

Decentralised

Service scope

V2/V3 spot pools, liquidity and farms; separately scoped SYMMIO-based perpetual interface.

Client types

Retail clients; Professional clients; Institutional clients

Pricing publication

Public and quoted pricing

Funding scope

Supported on-chain tokens; Sonic/Fantom identities differ; perps uses USDT and documents a 12-hour withdrawal window.

Custody and asset handling

Wallet-authorised contracts; liquidity NFTs, staking receipts and separate perpetual cross-margin collateral.

Client eligibility

Wallet access for pools; separate perpetual age, geography and sanctions terms.

Support

Official Discord/social routes, documentation, blockchain records and perps claim email.

Authorisation and registration scope

No verified positive financial permission; perps governing law does not establish operator incorporation.

Exchange metadata checked 21 Oct 2026Source 1Source 13Source 18Source 19Source 28Source 27

The Sonic registry publishes subgraphs for V2, V3 and farms. These are data interfaces for indexed activity, not evidence that a caller has permission to move a wallet’s tokens. Contract execution still needs the relevant signing authority. The inspected material did not establish a single retail API-key system spanning spot swaps, farms and perpetual withdrawals, or a native AI agent authorised to manage all those products.[13]

BrewBooV3 is an example of a separately scoped automated process. It collects V2 fees, converts them into BOO, sends a documented 0.1% caller bounty and transfers the remainder to xBOO. Calling that function is permissionless in the guide, but the example script warns that a route may be uneconomic and some pairs need manual route configuration. The mechanism describes fee conversion; it does not promise a fixed buyback frequency or investment return.[11]

The launchpad uses a linear bonding curve that holds token inventory and quotes purchases and sales. Its guide describes a move into a conventional liquidity pool when the token’s market capitalisation reaches 75,000 S. That is a threshold denominated in S, not 75,000 US dollars. A curve-stage quote, its launch event and the subsequent V3 pool have different mechanics and charges. The transition should not be mistaken for an exchange guarantee of liquidity at the launch price.[22]