Overview of SpaceSwap project. What is it?
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What is SpaceSwap?
SpaceSwap aggregates all the major DeFi protocols in one place, reviving the principles of yield farming in such a way that it benefits all the parties involved. Through a fair tokenomics model and greater smart contract security, SpaceSwap aims to host a unique platform for liquidity providers, unlike anything seen in the past.
SpaceSwap pools accrue profit for liquidity providers through all the DeFi protocols at the same time. Uniswap yields profit during the period that assets are being held in their liquidity pools. Users earn trading fees only as long as their assets are stored there. However, with SpaceSwap, it is different; LP’s opportunities are expanded. Users with crypto deposits are offered MILK2 tokens in addition to trading fees. So, even when you have to pull your funds out and thus no longer contribute to the liquidity of the platform, you can still earn a profit through your MILK2 reserves from the protocol's fees.
Features of SpaceSwap
SpaceSwap garnered a lot of attraction since its very beginning, owing to its 2 unique features:
A one-stop-station for all major DeFi protocols.
SpaceSwap integrates all prominent DeFi protocols in one place. For the first stage, leading protocols such as Curve, Compound and AAVE (among others) will be added. Later, SpaceSwap will support DeFi stablecoins and CeFi stablecoins such as yDAI, aUSDT, wBTC and sUSD. Synthetic assets for cryptocurrencies and major oracles like MakerDAO and Compound will also be integrated in the future.
Multi-layer reward system
The incentivization plan of SpaceSwap engages users even when they don't have any deposits. The native token on the platform, Milky Way tokens (MILK2), are provided in addition to interest. This will be particularly profitable after a few months, considering the fact that the price of MILK2 will rise once the project is fully evolved. The best part is, to encourage users to move their assets, SpaceSwap rewards are multiplied for the first blocks.
The utility of MILK2 and SHAKE tokens
As mentioned above, liquidity providers on SpaceSwap are provided with MILK2 coins along with the interest they earn, as rewards. Users can exchange these MILK2 coins to purchase Milk Shake (SHAKE) stablecoins. SHAKE is pegged to MILK and MILK2 at a 1:1000 ratio, as of now.
MILK2 has a total supply of 8,77,065 and a circulating supply of 8,15,238, whereas SHAKE has a circulating supply of 451.00000000, with maximum supply limited to 10,000 SHAKE. Users can widen the scope of their earnings by contributing liquidity to the SpaceSwap pool through MILK2 and SHAKE coins. They act as convenient tools to attract users to SpaceSwap and host an efficient platform for fast and efficient crypto liquidity management.
Interstellar can be best understood as a universe where each planet is a project offering pools with a particular set of coins. Projects from Interstellar make it to the list of Milky Planets through a voting system involving MILK2 owners. Interstellar also acts as a means for users to farm MILK2 coin rewards in return for the liquidity they add to the platform.
Gravity, one of the latest platforms launched by SpaceSwap, is designed to bring stablecoin prices closer to their peg. It is a platform created to improve yield farming through the stabilization of crypto assets. It offers an incentive system with below-peg stablecoins that bring higher APY rates than above-peg stable coins.
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