SalsaDAO Reviewed: Recipes, Flash Loans, Farming, and a Casino

SalsaDAO Reviewed: Recipes, Flash Loans, Farming, and a Casino

In our recent article about SpicySwap, we covered Limit Orders but we left out the SalsaDAO ecosystem itself along with its WTZ token, games and farms, and passive income.

This post discusses recipes and flash loans, the financing of the Gaming Hall casino, as well as Matter DeFi farms, their unique mechanics, and other features of SalsaDAO.

First of All, Buy WTZ

XTZ interfaces are different from FA1.2 or FA2 standard tokens. It is often easier for developers to make a contract to wrap XTZ into an FA-compatible token than to implement native tez support.

WTZ is a wrapped FA2 tez needed to work with SalsaDAO ecosystem projects. You can buy it on any DEX in Tezos, or you can wrap tez to WTZ yourself on Crunchy or SpicySwap. Wrapping is free but you have to pay 0.1% of the deployment fee.

WTZ also works under the hood of SpicySwap. If you want to swap tez for kUSD, for example, SpicySwap will automatically wrap your tez into WTZ before executing the swap.

Recipes on SpicySwap

Recipes are an automated addition or withdrawal of liquidity to SpicySwap pools.

The user selects the pool and the input token: tez, either WTZ or another token from the pool. Then they specify the transaction’s amount and the allowed slippage. SpicySwap automatically swaps half the amount to a second token from the pool and contributes liquidity to it. For example, when depositing liquidity in WTZ/USDtz you need tez, WTZ, or USDtz.

Recipes also allow one to burn LP tokens of the pool and take back their share in the token in question.

Flash Loans on SpicySwap

Flash Loans are a feature for making and repaying loans within the same block without posting collateral.

They can be used for arbitrage, or for working with synthetic assets: creating leverage with a mint-sell-mint loop and self-liquidating storage.

SpiySwap’s SVaults so far only support leverage and the self-liquidation of vaults. SalsaDAO plans to add support for Kolibri vaults.

In the SpicySwap interface, you can open and manage storage on youves: deposit and withdraw tez, mint and burn uUSD. Below are buttons that increase the leverage and self-liquidate the vault.

When the leverage increases, the user takes a WTZ/uUSD flash loan from the pool in WTZ, turns it into tez, deposits them in the vault, mints uUSD, and repays the loan. As a result, the number of tez in the vault increases thus boosting the potential profit from tez price rise.

Self-liquidation is also very useful if the user does not have uUSD to repay the vault and withdraw the tez from it. He takes a flash loan in uUSD from the WTZ/uUSD pool, burns them in the vault, withdraws the tez, and returns the loan.

Farming on Matter DeFi

Farms help decentralized exchanges attract and maintain liquidity. SpicySwap has farms on a separate site called Matter DeFi.

Matter DeFi farms fall into two categories: Matter Core with rewards in MTTR tokens, and Matter Live with rewards in other tokens and the ability to run your own farm.

In Matter Core, users pay a 5% commission when they deposit and withdraw tokens from the farm. This commission goes towards redeeming and burning MTTR on SpicySwap, which supports the price of the former.

Matter also supports recipes for fast single-token staking and withdrawals. You need to select a farm, click on Recipes, specify the amount, and confirm the transaction.

Financing a Casino on Gaming Hall

Gaming Hall has roulette and two types of dice. But the main feature is the passive income via investing in a bankroll.

Like DEX, Gaming Hall games take liquidity to pay out winnings from a shared pool called the bankroll. Users contribute funds to the bankroll, receive SalsaDAO Bankroll Tokens (essentially, LP tokens of the game), and share the players’ lost tokens among each other. And if you think the casino always wins, SalsaDAO lets you join it.

Players, however, earn a passive income. The user gets a GP token for every bet of 1% of the bankroll or higher. Investors pay a 2.5% commission when they contribute liquidity to the bankroll, which is distributed among GP holders.

Another Gaming Hall feature is the Cart for transaction batching.

A user can easily bet on different games and execute all actions in the same block.


Recipes and a basket on SalsaDAO help one deal with routine tasks faster. MTTR token burning, bankroll funding, and commission distribution via Bankroll Tokens and GP keep the economy going.

Everything works great but one thing that is still confusing is WTZ. If a user doesn’t know about the complexities of tez’s interaction with smart contracts, they may perceive WTZ as a way for the project to impose its token and take more transaction fees. Fortunately, this is not the case.

Subscribe and never miss updates from the world of Tezos:

  1. Telegram channel
  2. Facebook
  3. Twitter in Ukrainian
  4. Twitter in Russian
  5. Twitter in English
  6. YouTube channel
  7. Instagram
  8. LinkedIn
  9. hub at ForkLog


Retrominting: How to Create ASCII NFTs on

Read similar posts

Meet the Brand New! More Liquidity, and More Rewards

Meet the Brand New! More Liquidity, and More Rewards

Flash Loans: Earning Off Someone Else’s Capital

Flash Loans: Earning Off Someone Else’s Capital

Tezos DApps Updated: Naan, Temple Wallet, Youves, Smartlink, and QuipuSwap

Tezos DApps Updated: Naan, Temple Wallet, Youves, Smartlink, and QuipuSwap

Read our blog and never miss news about TezosRead Blog