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The decentralized finance (DeFi) market is bursting with a disparate number of protocols and projects, which only keeps on increasing every week. A lot of these are successful, climbing the ranks of Coinmarketcap and CoinGecko at lightning speed. However, there are also controversial projects and divisive issues which have gained the headlines of crypto news.
There is no DeFi protocol or project which is perfect. The past months have taught us about the good points as well as the bad points of these platforms. Many of us are waiting for that big project that could bring another level of value to the community by combining all of the good points.
The long wait is finally over because SpaceSwap is here to reward everyone not just with one dish but with tons of tasty MILK and SHAKE.
What is SpaceSwap?
The SpaceSwap project aims to become the first and only one-stop-station for major DeFi protocols. It offers a revolutionary approach by combining the comprehensive approach of existing liquidity pools and thought-through mechanisms of its own protocol with myriad pools available.
The SpaceSwap team’s plan is ambitious. First, the platform will improve Uniswap protocol and add extra features. Within a few months, other major DeFi protocols will be added, such as but not limited to Curve, Compound and Yearn. Finally, the platform will turn into the aggregator of major DeFi services – the superstructure is aimed at uniting all liquidity pools via the SpaceSwap station.
What Makes SpaceSwap Special?
While Uniswap allows users to earn trading fees only while their assets are stored in liquidity pools, SpaceSwap enlarges these opportunities for liquidity providers. It distributes MILK tokens among users who make crypto deposits. Even when a user has already withdrawn his funds and no longer adds liquidity to the platform, his MILK reserves still allow him to earn a part of the protocol’s fee.
Since Uniswap is the first DeFi protocol to fork by SpaceSwap, it will also serve as the foundation for the platform at its initial stage. With Uniswap, users make crypto deposits to their preferred pools and enjoy growing profits – the platform pays loan interest rates offering both stable and variable annual percentage yield (APY) rates. However, once tokens are removed from the pool, the user’s passive income also ceased.
With SpaceSwap it is different because users also earn native Milky Way (MILK) tokens on top of interest rates. This brand-new protocol can be particularly profitable for early liquidity providers since MILK might soar in price after the platform is launched and integrated with major DeFi protocols.
After adding major DeFi protocols, SpaceSwap will also support DeFi stablecoins and CeFi stablecoins, as well as various synthetic assets for cryptos and major oracles. The community can also vote for the pools or change the weight of MILK in them, thereby, fully democratizing the platform.
What is MILK and SHAKE?
Being SpaceSwap’s native token, MilkyWay (MILK) is the reward paid to liquidity providers. During the generation of the first 100,000 blocks, MILK coin rewards will be increased ten-fold (1,000 MILK) for distribution among early adopters. With the generation of the next block, these coins will be unlocked and sent to liquidity providers in proportion to their deposits. Afterward, each block will generate 100 MILK coins.
Another SpaceSwap coin, MilkShake (SHAKE) is a stablecoin pegged to MILK at a 1:1000 ration. Users can buy SHAKE with MILK to reap extra profits. These coins are interchangeable. Out of the 0.3 percent standard liquidity pool reward, 0.05 percent goes towards buying out MILK on the market – these coins are distributed among SHAKE holders.
MILK and SHAKE can also be deposited in the MILK-SHAKE pool which boasts higher APY rate.
Who is Behind SpaceSwap?
SpaceSwap was built by the best engineers and blockchain opinion leaders who prefer to stay anonymous – developers are not into publicity. They came together about a few months ago with the purpose of bringing another level of value to the crypto community, not to hype up another trend.
The team did not just forked Uniswap’s protocol; instead, SpaceSwap offers a refined and improved version that will aggregate different DeFi services. There are no pre-mined tokens for the team. Unlike SushiSwap in which there is a ten (10) percent developer reward system, SpaceSwap only has three (3) percent.
While the team is anonymous, the project itself is open and transparent. All of their actions are clear, which anyone could track and verify on Github. Within the team, SpaceSwap has a number of auditors. Currently, the team is negotiating an audit with Kaspersky Smart Contract Audit, Hacken, OpenLaw, Mintable and other audit companies.
With the revolutionary tokenomic model and a huge variety of profit options, SpaceSwap will definitely rock and set a new standard in the DeFi industry. So get ready to MILK some DeFi pools – the countdown to blast-off has already started at SpaceSwap Website.
Let us know in the comment section your thoughts about SpaceSwap. Do you think SpaceSwap will be able to gain followers and attain success just like Uniswap and Sushi? I will be glad to read your ideas and to share my opinion.
(Welcome to Planet Crypto. We discuss necessary information and updates regarding the cryptocurrency market regularly. So if you want to get updated, do not forget to hit the follow button and smash the like button.
I am not a financial or investment advisor. The purpose of this channel is to raise awareness about blockchain, the technology which will make the greatest impact in the decades to come and help in the mass adoption of cryptocurrencies. Please only consider this as educational or informational. This is never intended as a financial or investment advice.)