Wanna Some MILK? - You Can Get Just In SPACESWAP

bangkecol (6)in #spaceswap • 4 years ago (edited)

The decentralized finance (DeFi) market will burst with a scattered number of protocols and projects that only continue to grow every week. Many of them are successful, climbing at lightning speed in the positions of Coinmarketcap and CoinGecko. However, there are also controversial projects and controversial issues that have made headlines in crypto news.

No DeFi protocol or project is perfect. The last months have taught us about both the good and bad points of these platforms. Many of us are looking forward to this big project that could bring another level of value to the community by bringing together all the good things.

The SpaceSwap project aims to become the first and only one-stop-station for major DeFi protocols. It will provide users with a fair and profitable earnings sharing system, topped by MilkyWay (MILK) coin rewards and MilkShake (SHAKE), to boost your earnings. With a week left before the fantastic release, the SpaceSwap team is setting up the final details of its DeFi protocol. Let’s find out how it works.

What Is SPACESWAP?

The SpaceSwap project aims to be the first and only universal station for the main DeFi protocols. It offers a revolutionary approach, combining the comprehensive approach of existing liquidity pools and sophisticated proprietary protocol mechanisms with the many available pools.

The SpaceSwap team's plan is ambitious. First, the platform will improve the Uniswap protocol and add additional functionality. Over the next 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 an aggregator of the main DeFi services - the add-on is designed to combine all liquidity pools through the SpaceSwap station.

How will it work?

First, SpaceSwap will provide the same liquidity pools as Uniswap with unique features serving as the cherry on top of the milkshake. 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 stablescoins 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.

Here’s the mechanism for 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.

SHAKE stablecoin, in its turn, is pegged to MILK at a ratio of 1:1000. Thus, one SHAKE coin always equals 1,000 MILK, with these coins being inter-exchangeable. We’ll discuss SHAKE coin’s value later.

Who is Behind SpaceSwap?

SpaceSwap was built by the best engineers and blockchain leaders who prefer to remain anonymous - the developers are not addicted to advertising. They got together about a few months ago with the goal of bringing another level of value to the crypto community, not to hype another trend.

The team didn't just stir up the Uniswap protocol; instead, SpaceSwap offers an enhanced and improved version that integrates various DeFi services. There are no pre-mined tokens for the team. Unlike SushiSwap, which rewards developers at ten (10) percent, SpaceSwap only has three (3) percent.

While the team is anonymous, the project itself is open and transparent. All their actions are clear that anyone can track and check on Github. There are several auditors within the SpaceSwap team. The team is currently negotiating an audit with Kaspersky Smart Contract Audit, Hacken, OpenLaw, Mintable and other audit companies.

With a revolutionary token model and a vast array of profit options, SpaceSwap is sure to shake up and set a new standard in the DeFi industry. So get ready to MILK some DeFi pools - the countdown to blast has already begun in SpaceSwap.