Overview:
What is DEFI?
Defi is a term given to financial services that have no central authority or someone in charge. Using decentralized money like certain cryptocurrencies that can be programmed for automated activities, we can build exchanges, lending services, insurance companies, and other organizations that don't have an owner and control by anyone.
These Decentralized finance systems use protocols, cryptocurrencies, and smart contracts to build the application (dapps) on Ethereum and Binance smart chain which are open to all. The traditional finance system is centralized, opaque, and dependent on few entities of the system while the purpose of Defi is to create a financial ecosystem that is opposite to centralized finance in terms of open source, permissionless, transparent, and without any central authority. In Defi, users can control their own assets and manage them for high returns interacting with Dapps.
The DeFi market began its meteoric rise in early 2020. In just half a year, the total value of all assets locked in DeFi has grown by a factor of 15 – from $600 million to $9 billion. Such changes indicate an increase in interest from the crypto community and investors. DeFi can be safely called the ‘hot hit’ of 2020.
What is SpaceSwap?
The SpaceSwap project is the first and only one-stop-station for major DeFi protocols. It will provide users access to the same number of liquidity pools as originally supported by integrated DeFi protocols. Plus, a MILK-SHAKE pool will be available for storing liquidity at higher APY rates. With all major DeFi protocols united in one place, SpaceSwap will become a convenient instrument for fast and efficient crypto liquidity management.
SpaceSwap's goal is to bring together the best services as well as constant liquidity so that millions of users can find what they need in one place.
What is MilkyWay (MILK)?
MILK is SpaceSwap’s native token use to 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 deposit. Afterward, each block will generate 100 MILK coins.
What is MilkShake (SHAKE)?
Another SpaceSwap coin, SHAKE is a stablecoin pegged to MILK at a 1:1000 ratio. Users can buy SHAKE with MILK to reap extra profits. The coins are inter-exchangeable. Out of the 0.3% standard LP reward, 0.05% goes towards buying out MILK on the market – these coins are distributed among SHAKE holders. MILK and SHAKE also can be deposited in the MILK-SHAKE pool which boasts higher APY rates
How will it work?
SpaceSwap will provide the same liquidity pools as Uniswap. Liquidity providers will be able to migrate their tokens from Uniswap pools to the new protocol in a couple of clicks.
Since the list of available pools is the same, users owning Uniswap LP tokens can choose the corresponding liquidity pool and stake deposited tokens there. Essentially, they can leave their liquidity in Uniswap and store the received derivative tokens in SpaceSwap pools.
The list of eligible pools and tokens will be chosen by users through their voting rights (i.e. owners of MILK governance tokens) – it’s the community that will decide on the platform’s development and the MILK weight in pools. So far, SpaceSwap plans to support lending pools with DeFi and CeFi stable coins and broaden the array of protocols supported. MILK/WETH liquidity pool will provide maximum rewards to early users, so it’s highly recommended to deposit MILK into Uniswap.
MILK reward distribution :
During the generation of the first 100,000 blocks, MILK coin rewards will be increased ten-fold (1,000 MILK) to be distributed among early adopters. With the generation of the next block, these coins will be unlocked and sent to liquidity providers in the amount corresponding with their deposit. Afterward, each block will generate 100 MILK coins.
In line with Uniswap’s tokenomics, SpaceSwap will incentivize liquidity providers from exchange fees. Additionally, users will get rewards in MILK tokens and distributed over all active users, according to their stake (%) in the pool.
SHAKE coin owners are eligible for an additional reward. Out of 0.3% standard pools reward, SpaceSwap takes 0.05% to buy out MILK from the market – these coins will be distributed among SHAKE holders.
Smart contracts and Audits
SpaceSwap strives to make fully transparent and failure-proof smart contracts with a focus on user security. The team has performed beta testing of the platform to make sure everything runs smoothly in the test net. SpaceSwap’s contracts will be audited by a range of industry-leading crypto security companies. Currently, the team is negotiating an audit with Kaspersky Smart Contract Audit, Hacken, OpenLaw, Mintable and other audit companies
New NFTs to make your MILK2 farming ultra profitable
Three absolutely new and highly profitable NFTs are coming to SpaceSwap. with these new NFTs, you’ll be able to farm up to 130% more MILK2 in the same well-known way.
Cards: SPACE GOODS, BLOCKCHAIN ICE, CRAFTY THINGS
Quantity: 30 NFTs of each type
Cost: each card is 2 ETH
Expected ROI: 130% in MILK2
Farming Duration: 36 days.
The farming with NFTs will start even if you don’t have LPs for a specific pool
Conclusion:
SpaceSwap is going to become a one-stop-station for major DeFi protocols, which means new passive income opportunities and even more tokens in your wallet. Jump on the bandwagon and become one of the early adopters! The first investors will enjoy premium features and more MILK tokens!
Read More Here:
Official site: https://spaceswap.app/
Telegram: t.me/SpaceSwap
Twitter: https://twitter.com/spaceswapdefi
Discord: https://discord.gg/r6RymJj
GitHub:https://github.com/spaceswap
Proof Of Author
Forum Username: Spartacus1971
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2587769
Wallet Address: 0xb2c62391cce67c5efc1b17d442ebd24c90f6a47c