SpiritSwap Announcements
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The official announcement channel for SpiritSwap. SpiritSwap is a decentralized exchange (DEX) on the Fantom Opera Chain. SpiritSwap's design is based on the Uniswap constant-product automated market maker (AMM).
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Degens Weekly Digest 13th June- 19th June.

Happy Sunday @everyone. Nice little relief bounce we are having on this fine day! A reminder that the stock markets are closed tomorrow so there may be some whale play across the crypto market. We know you degenerates love your leverage right now, so degen recommends treading with caution and expect some turbulence (up and down). With that friendly reminder aside, lets crack on with Degens Digest.

👻 inSPIRIT:
This week's inSPIRIT distribution dropped a total of 1,833,507 SPIRIT currently valued at $20,879 USD at the time of distribution to our loyal inSPIRIT holders.


💸 Bribes:
This week inSPIRIT holders had a total of $7,946 USD in bribes offered. All snapshots have been taken and sent to the participating protocols to arrange airdrop of the bribes.

If you wish to check in on the status of your bribe distribution, please feel free to enquire within the discord of the relevant protocol.


Combined value to inSPIRIT holders:
👜 Taking bribes + weekly distribution into account, the current USD value for inSPIRIT holders this week has totaled $28,825 USD in rewards distributed.

Volume has seen a steady uptick this week, with volatility in the market taking place, which is good for our inSPIRIT distributions. May the volatility continue !

🔥Fireside with SOULLY:
This week's fireside we held a demonstration on how to deploy your LP tokens to their respective gauges / farms, and how to locate your respective gauge contract, using the gauge proxy contract directly. We will have the video uploaded to our youtube channel later this week so those that missed it can catch a replay.

Further to the demonstration we gave an update on V2 progress, to which the mods have now moved on from testing the bridge, to testing the new home and portfolio pages. The mods have now submitted their feedback on these pages with the developers now working through this feedback and making any polishes required.

I also gave a brief overview to the community about my opinions and observations of the TradFii marketplace due to the connected movements between the crypto market and equities / ETF’s, along with the macro economic outlook. I also gave my perspective on the current crypto market situation highlighting the difference between the end of this cycle and the previous (2017cycle), the key difference being that leverage is now a frequently used tool in this space, whereas it wasn't in the previous cycle. While leverage is a great tool for increasing one's size and thus potential gains, I warned the community that this is a double edged sword and recommend people utilize it with caution. The facilitation of leverage is what has supercharged the recent bull run, however, it also accelerates the downside , cascading liquidations of immense volume being a major factor. We have seen hedge funds and treasuries be extremely irresponsible with their leveraged positions and as such, not only have they suffered big time as a result, but so has the wider community.

As with all things in life and especially the crypto space, we are still navigating through the nuances of decentralization, governance and usage of tools like leverage. I am hopeful the market will take learnings out of the events that have transpired over the last couple of months and act more responsibly in the future.

Continued. . . .

⚙️ V2:
As mentioned in fireside, the developers are currently processing feedback of the recent home page and portfolio page tests. While the dev team work on these requests from the mods, the mod team will this week process feedback for the Farm and Liquidity pages along with the new features V2 offers. Once this testing is completed the same process will apply where by feedback will be provided to developers & they will process this feedback while them mods move on to testing other components. Later this week / next week will likely cover inSPIRIT upgrades.
🧹House Keeping:
I am traveling most of this week, but will still be around to fulfill my normal administration activities with the help of my amazing mod and admin team. The only thing I will not be able to take part in is this week's coming fireside chat as I will be on a flight at this time. This week's fire side will still go ahead, with the amazing @JJBeGood | SpiritSwap and Heesh taking center stage for a deeper dive into V2 and general discussion with the community. If you have any burning questions about V2 now is your time to prepare them. Heesh is quite liberal about V2 discussions, so if Alpha is what you're after, you best try and make this week's discussion.

That's all for now, enjoy the week ahead @everyone

Cheers,
D3gEn
Bribe # 1 Alchemix

Alchemix are back into the bribe wars this week, with a blanket bribe of 77 gALCX

To be eligible for this bribe, simply vote on the gALCX - FTM LP before the end of the current distribution block (5PM PST Wednesday the 22nd of June).

We want to thank the Alchemix team for their continued support of SpiritSwap.

Cheers @everyone
Spirit DAO
Bribe # 2 OneRing <:OneRing:918186013065633842>

OneRing are upping the ante slightly this week with $1000 worth of $RING - FTM SpiritLP tokens for those who vote on their Gauge this week. Take advantage of the ring pools 133% APR by staking these bribes to maximize your bribe returns. <:this:864952013963001888>

To be eligible for this bribe, simply vote on the RING - FTM LP before the end of the current distribution block (5PM PST Wednesday the 22nd of June).

Cheers @everyone
Spirit DAO
Bribe #3 🍯 COMB Finance

70 NECT per 1 % emission allocation valued at $609 USD per 1% capped at 8%

You can read more about the NECT token here: https://docs.comb.financial/documentation/resources/frequently-asked-questions#what-is-usdnect-nectar

You will need to keep your vote effective on the COMB-FTM gauge until the current distribution block ends (5PM PST Wednesday the 22nd of June)

The SpiritSwap team would like to thank the COMB Team once again for their continued participation in SpiritSwap Bribe wars.

Cheers @everyone
Spirit DAO
Bribe #4

CRE8R DAO ARE BACK BABBY !

To reiterate from last week, If you LP your bribe, rather than dump it, you have more earning potential from these bribes. Also, as the price of Spirit goes up, the bribed rate goes up also. However, if the SPIRIT price goes down, the rate is locked thus creating a “bribe floor”.

CRE8R's bribe currently ranges between $664.34 - $996.50 per 1% of emissions. The payout is circumstantial to what you do with your CRE8R rewards, and if you currently support their liquidity pool.

Only voters who achieve green box status for CRE8R-FTM will be eligible to Buy Bribe Bonds when they launch.

You can learn more about this process and track the data live via this link: https://cre8r.vip/boosted-bribes/#spirit

If you wish to communicate with the CRE8R team further about this, you can do so via their discord. https://discord.com/invite/m9ff4crpKy

Thanks again to CRE8R DAO for continuing to enrich our ecosystem with their creativity !

Cheers @everyone
Spirit DAO
Hi @everyone,

we got reports that some users are experiencing issues on the swap page. The team is aware and is investigating, we'll keep you posted for updates.

In the meanwhile, please accept our apologies for the small inconvenience.

Thank you,
Matteo
The issue has been fixed, it was a transient issue with Graph QL APIs.

Thank you for your patience.
Degens Weekly Digest 20th June- 26th June.

Happy Sunday everyone. What a week it has been ! At the time of writing this Degen is pleased to announce Fantom is up by 32.55% with SPIRIT at +34.7% ( 7 day increase). Enjoy the relief, now let's crack on with Degens Digest

:AngelSpirit: inSPIRIT:
This week's inSPIRIT distribution sent a total of 1,175,572 SPIRIT valued at $17,473 USD at the time of writing this to our loyal inSPIRIT holders.


:bribeit: Bribes:
This week inSPIRIT holders received a total of $9,529 USD in bribes. All snapshots have been taken and sent to the participating protocols to arrange airdrop of the bribes.

If you wish to check in on the status of your bribe distribution, please feel free to enquire within the discord of the relevant protocol.

:money_rain: Combined value to inSPIRIT holders:
Taking bribes + weekly distribution into account, the current USD value for inSPIRIT holders this week has totaled $27,002 USD in rewards distributed.

As the market picks up we hope to see volume increase thus stimulating larger distributions in the near future. We also have high hopes that V2 mechanics will do the trick in attracting additional volume to SpiritSwap.

:fire: Fireside with SOULLY:
For this week's fireside with SOULLY, I was regrettably traveling, taking time to have a short (and much overdue) vacation with my wife and kid. As such our resident director of DeFi ( @Heesh ) stepped up to the podium in my lieu and gave a presentation to the community about understanding the calculations and algebra behind various AMM models. Heesh gave us all explicit insight into the complicated calculations that allow an AMM to operate behind the scenes. Although I missed the presentation, judging from the questions and level of engagement in the FireSide chat, the community seemed to be extremely engaged with the presentation being well received. I think it's safe to add the title “Professor” to Heesh’s handle.

Next week FireSide will resume with myself returning to the stage. At this point the community have not made any requests for subject matter to be presented, so if there is anything you would like covered, please let me know asap so I can make the necessary preparations.

Last week's FireSide, pertaining to the direct use of the gauge contract interaction to stake LPs, is now live on youtube and can be caught up on via the following link.

https://www.youtube.com/watch?v=iEtxW2N2mVs

🧰 V2:
V2 testing is progressing extremely quickly with the mod and developer team working in tandem like a well oiled machine. In my absence, our legendary QA manager @Matteo | SpiritSwap has taken the reins in coordinating testing and ensuring a smooth flow of communication between mod feedback and dev team. This week's swap, liquidity and farm tests have been completed with all feedback now being processed by the dev team.

This week's testing will encompass testing of our Spirit wars page along with subsequent inSPIRIT upgrades.

We're on the final stretch ! The finish line is in sight, as they say “were off to the races ! ” . Let's hope we can launch V2 public beta in an “up market” and make an IMPACT. Stay posted for more updates.

:sweep: Housekeeping:
I will be traveling to my final destination as of tomorrow and will resume work as usual on Monday (this time in a different time zone) but have adjusted my hours to ensure all updates and usual communication happen just as they have normally. Looking forward to reconnecting with you all !

That's all for now, enjoy the week ahead my kindred spirits

Much love @everyone
D3gEn
Bribe # 1

This week first up are CRE8R DAO !

Boosted bribes as usual.

CRE8R's bribe this week ranges between $664.34 - $1328 (boost bonanza) per 1% of emissions. The payout is circumstantial to what you do with your CRE8R rewards, and if you currently support their liquidity pool.

You can learn more about this process and track the data live via this link: https://cre8r.vip/boosted-bribes/#spirit

If you wish to communicate with the CRE8R team further about this, you can do so via their discord. https://discord.com/invite/m9ff4crpKy

VOTE ON THE CRE8R - FTM LP before 5PM PST Wednesday the 29th of June to be eligible

Thanks again to CRE8R DAO for continuing to enrich our ecosystem with their creativity !

Cheers @everyone
Spirit DAO
Bribe # 2 Alchemix

Alchemix are back into the bribe wars this week, with a blanket bribe of 77 gALCX

To be eligible for this bribe, simply vote on the gALCX - FTM LP before the end of the current distribution block (5PM PST Wednesday the 29th of June).

We want to thank the Alchemix team for their continued support of SpiritSwap.

Cheers @everyone
Spirit DAO
Bribe # 3 OneRing :OneRing:

OneRing are back again this week with $1000 worth of $RING - FTM SpiritLP tokens (flat bribe) for those who vote on their Gauge this week. Take advantage of up to an 236.44% APR by staking these bribes to maximize your bribe returns. :this:

To be eligible for this bribe, simply vote on the RING - FTM LP before the end of the current distribution block (5PM PST Wednesday the 29th of June).

Cheers @everyone
Spirit DAO
Bribe #4 🍯 COMB Finance

60 NECT per 1 % emission allocation valued at $619.2 USD per 1%, capped this time at 10%:fire:

You can read more about the NECT token here: https://docs.comb.financial/documentation/resources/frequently-asked-questions#what-is-usdnect-nectar

You will need to keep your vote effective on the COMB-FTM gauge until the current distribution block ends (5PM PST Wednesday the 29th of June)

Cheers @everyone
Spirit DAO
Degens Weekly Digest 27th June- 3rd of July.

*Happy Sunday @everyone and a premature Happy independence day to our Yankie counterparts.*

*A fresh month is upon us and with it brings fresh beginnings ! Lets crack on with this week's recap of Degens Digest.*

inSPIRIT:
This week's inSPIRIT distribution sent a total of 659,041 SPIRIT valued at $9226 USD at the time of distribution to our loyal inSPIRIT holders.


Bribes:
This week inSPIRIT holders received a total of $10,403 USD in bribes. Snapshots will be sent to bribing protocols for distribution to voters first thing monday.

Combined value to inSPIRIT holders:
Taking bribes + weekly distribution into account, the current USD value for inSPIRIT holders this week has totaled $19,629 USD in rewards distributed.

V2 should in theory and according to the math see this figure dramatically improved, good things come to those who wait 😉

Fireside with SOULLY:

This weeks:
For this week's fireside with SOULLY, I took the community through the intricacies of governance models, assessing the pros and cons of:

- Centralized governance model
- DAO governance model
- On-Chain governance model

In this presentation, I highlighted the SpiritSwap DAO’s approach to circumventing and solving problems with the latter two models, which currently comprise of SpiritSwps approach to protocol governance (A hybrid between DAO and On-Chain governance).

For those the know how to read between the lines, there are some subtle alpha drops in there for you so whoever missed it can catch up on our Youtube channel, once the video is edited and set live. I will post about this when its ready. I highly recommend those who have a significant stake hold in the inSPIRIT system review this presentation.

Last weeks:

Last week's FireSide, pertaining to understanding the calculations and algebra behind the X*Y=K AMM model, is now live on youtube and can be caught up via the following link.

https://www.youtube.com/watch?v=I9cAkM_Wfuo

The week to come:

After giving my personal views on macro implications on the crypto market at large and economic conditions in general, I noticed the community responded very well to this as there were requests for more of this subject matter. For those who appreciated this topic, you will be pleased to know that none other than the man the myth the legend himself, Clay from FTM Alerts, will be joining me next week to discuss in more depth the Macro conditions and parameters that impact the crypto market space. He will be condensing and ELI5 these various factors in an easy to understand discussion to help those less informed, become more informed. I for one am very excited about joining Clay for this discussion and would HIGHLY recommend our community attend. An informed DAO makes informed decisions. Informed decisions lead to a successfully managed DAO.

👷 V2:
V2 mod testing is almost complete. Developers are currently wrapping up tickets for last week's tickets and will this week be progressing with the tickets made by mods for the final round of page testing pertaining to the new inSPIRIT page and various mechanics that support the subsequent upgrades.

Once these final spit and polishes are completed, we will open V2 up to our trusted and close counterparts, community members, partners and community developers for their final pass before V2 public beta is set live.

That's all for now, enjoy the week ahead my kindred spirits

Much love,
D3gEn