SpaceSwap is a unique aggregator that unites all the major DeFi protocols in a one-stop station.
The project attracted a lot of attention from the very start, thanks to its outstanding features and the promise it offers. The SpaceSwap team follows its own Milky Way by presenting Interstellar, Gravity, Blender, Governance, and many other products.
SpaceSwap Gravity
SpaceSwap Gravity is a platform for stablecoin arbitrage which allows users to earn additional MILK2 rewards. Gravity is aimed at addressing stablecoin volatility on the Defi market. The platform will offer higher rewards in the pools that achieve nominal value. The rewards decrease if and when the price in the pool is higher than nominal. All in all, the system stimulates the sale of expansive assets and the purchase of those at a low cost.
Gravity has its own separate smart contract. MILK2 will be issued from within the Gravity system in direct accordance with the community vote held prior to its launch.
When a certain coin falls in value, the APY rates change immediately. The farming scheme lies in the fact that below-peg stablecoin pools are more rewarding than above-peg ones. This motivates people to sell their above-peg stablecoins and buy below-peg ones. Hence, the Gravity system was developed to maintain the stable price of the coins by bringing stablecoin prices closer to their peg.
Stablecoin in SpaceSwap Gravity
A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and is backed by a reserve asset. Stablecoins have gained traction as they attempt to offer the best of both worlds—the instant processing and security or privacy of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies.
Stablecoins try to tackle price fluctuations by tying the value of cryptocurrencies to other more stable assets – usually fiat. Fiat is the government-issued currency we’re all used to using on a day-to-day basis, such as dollars, and euros, and it tends to stay stable over time.
Usually, the entity behind the stablecoin will set up a “reserve” where it securely stores the asset backing the stablecoin – for example, $1 million in an old-fashioned bank (the kind with branches and tellers and ATMs in the lobby) to back up one million units of the stablecoin.
This is how a digital stablecoin and a real-world asset are tied together. The money in the reserve serves as “collateral” for the stablecoin. A user can theoretically redeem one unit of a stablecoin for one unit of the asset that backs it.
SpaceSwap SHAKE Blender
SHAKE Blender is a place where users can exchange their MILK2 coin for the SHAKE super coin. It’s very limited and is growing significantly.
SHAKE is a native SpaceSwap coin that is initially pegged to the MILK2 coin at a 1:1000 ratio (1 SHAKE = 1,000 MILK2). At the moment, the ratio is approximately 1:3590. SHAKE emission is limited - only 10,000 coins will be issued, which makes the coin highly valuable.
Governance
Governance is where all the voting takes place.
All decisions about the future development of SpaceSwap projects are made by the community.
Spaceswap is primarily a developer of the software. While the Services provide an interface to submit instructions to other Spaceswap users to effectuate Virtual Currency transactions, all the transactions performed via the Services are executed peer-to-peer directly between the users’ web-3 digital wallet through a smart contract
Official links for more details,
WebSite : https://spaceswap.app
Whitepaper: https://docs.spaceswap.app/spaceswap
Telegram : https://t.me/spaceswap
Twitter: https://twitter.com/spaceswapdefi
Discord : https://discord.gg/r6RymJj
Github : https://github.com/spaceswap
Authorship
BitcoinTalk username : morendx_77
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1965346
ERC-20 WALLET Address: 0xf5cfCA955237F31a1112C9E566cedC7fe4F03995