With the advent of Uniswap, it has become one of the most important components of the entire DeFi industry, as it allows users to exchange tokens without trust, which means that all transactions are performed from smart contracts without the need for an intermediary or a trusted party.
The new trend has revitalized the cryptocurrency industry, despite the fact that asset values remain 75% below their 2017 levels. It’s called DeFi, short for decentralized finance. At its core is the idea that crypto entrepreneurs can recreate traditional financial instruments in a decentralized architecture without falling under the control of companies and governments.
SpaceSwap is a one-stop station for all major Defi Services.
SpaceSwap becomes a host in a decentralized system to keep its users safe. The project’s developers have striven to place maximum transparency and control over the services in the hands of the community and it all starts with the website. Its availability will be ensured by network participants, which guarantees round-the-clock availability and absolute protection against server failures.
SpaceSwap guarantees a 100% fair distribution of coins, with no hidden charges. The project is launching a single pool for several stablecoins at once, which will significantly reduce gas costs. The community has the right to decide how many pools it needs, through a fair voting system. This is done in order to provide users with the opportunity to independently decide which pools to provide liquidity to, using LP.
SpaceSwap is a DeFi protocol that connects users to a multitude of liquidity pools and provides MILK governance tokens as a means of incentivization. The platform rewards liquidity providers with a portion of the transaction fees and pays the corresponding amount of MILK tokens on the top of that. SpaceSwap represents a new generation of yield farming services by enabling easy token transition and distribution over third-party liquidity pools.
The project is being launched on 10th September. It will start with the Uniswap protocol improvement first, with Curve, Compound, Yearn, and other protocols added in Q4 2020. According to the roadmap, SpaceSwap will turn into a DeFi superstructure covering major DeFi protocols in one place.
SpaceSwap DeFi protocol gives liquidity providers additional means of profit-making. While conventional protocols are designed to bring liquidity providers loan interest only, SpaceSwap takes it a step further by introducing a new scheme of yield farming. Aside from the high APY rates, users will enjoy additional incentives in the form of MILK tokens. Thus, their passive income isn’t restricted by the deposit period.
Exceeding the technical possibilities of Uniswap and protocols alike, SpaceSwap enables cross-platform token transition. It allows users to move their liquidity tokens from one pool to another so that they can move their current deposits to SpaceSwap pools with minimal transaction fees. Project developers promise to provide a wide range of various liquidity pools for DeFi & CeFi protocols — Oracles, lending protocols, synthetic assets, and so on.
So far, the native MILK token is designed to perform purely governmental functions — it will enable users to vote and choose eligible liquidity pools. The developers don’t exclude the possibility of MILK trading and exchange, which will bring users extra options for earning.
So far, early investors have already claimed the liquidity — it will be distributed over pools after the opening. With one week left until the official launch, white-listing is finishing soon. Early contributors will get privileges and premium account status with extra perks and MILK tokens.
Game-changing protocol to come!
SpaceSwap is expected to radically change the landscape of the DeFi market. The protocol has prepared revolutionary initiatives for liquidity providers and opportunities for DeFi services. SpaceSwap will be an improved version of Uniswap. The coins native to the protocol are: MILK (governance coin) and SHAKE (stablecoin) and will be a gold mine for liquidity providers.
SpaceSwap includes several options for profit-making:
1. MILK rewards, depending on the liquidity provider’s LP stake.
2. Out of the 0.3% standard LP reward, 0.05% goes towards buying out MILK on the market and these coins are distributed among SHAKE holders.
Developers have also prepared incentives for early adopters — during the generation of the first 100,000 blocks, the MILK coin reward will be increased by ten-fold (1,000 MILK). Afterwards, each block will generate 100 MILK coins, with SpaceSwap developers taking only 3% of the MILK tokens for the team and for operational expenses.
Minutes to launch
The launch of the SpaceSwap protocol is set for 10th September. In just a few days, we will be able to witness a revolution in the DeFi market. Let’s see how good SpaceSwap is with their innovative InterPlanetary File System hosting.
The SpaceSwap 2.0
The countdown to MILK2 started from Current Block #10926321. You can track the generation of blocks on Etherscan with its live streaming countdown timer: https://etherscan.io/block/countdown/10930100
You can also click on the Notifications bell to receive an alert when the block is mined. This way, you won’t miss any updates.
SpaceSwap 2.0 version improvements
As we mentioned previously, the SpaceSwap team prepared a lot of innovations for the new version of the platform.
First of all, the team of developers improved the tokenomics model by introducing the MILK2 coin with a different issuing mechanism.
While the first 10,000 blocks are being generated, 40 MILK2 coins will be minted per block.
For the next 30,000 blocks, 20 MILK2 coins will be minted.
And the next 60,000 blocks, users will share 10 MILK2 coins per block.
After that, 2 MILK2 coins will be minted per block.
This will help to decelerate the coin’s inflation and make it more stable.
Secondly, SpaceSwap 2.0 is no longer tied to Uniswap’s list of pools. This allows the project’s team to create a list of pools according to which ones the holders vote to keep.
The initial list of pools includes:
NOAHP — ETH QDAO — ETH
MILK2 — SHAKE YFII — ETH
CVP — ETH DF — ETH
MILK2 — UNI MILK2 — ETH
ETH — USDT (from Mooniswap)
Moreover, Each SpaceSwap partner has a chance to have their pool added to the platform and listed.
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