Victor Ugochukwu · Dec 14, 2020 . 5min read
SpaceSwap Launches SpaceSwap DeFi Protocol, leads as the First DeFi Aggregator
While DeFi Ecosystem is flourishing, SpaceSwap intends to beat leading DeFi protcols like Uniswap and set new standards in the DeFi field.
By Komal Joshi · Sep 10, 2020 . 6min read
Today SpaceSwap announced the launch of SpaceSwap DeFi protocol to provide crypto liquidity providers with a new profitable form of yield farming and unite all major DeFi protocols via an all-in-one SpaceSwap Station. SpaceSwap decentralized finance protocol offers an innovative approach to cryptocurrency yield farming.
Newly Ambitious SpaceSwap DeFi Protocol launches
DeFi is one of the most active blockchain sectors, with approximately $9 billion total value locked in DeFi smart contracts. From decentralized exchanges to lending and insurance platforms, the DeFi ecosystem is growing and unbarring a parallel financial system that sets new criteria for access, flexibility, and transparency. Apart from decentralized exchanges, DeFi protocols are on the rise. When thinking about the protocols, names like Uniswap, Yearn Finance, Compound comes into the picture. However, SpaceSwap intends to be the new standard in DeFi protocols.
SpaceSwap strives to become the first DeFi service aggregator. Additionally, it assures to beat leading DeFi platforms like Uniswap and Curve. The project will offer initial investors new opportunities for passive income. Aside from deposit interest rates, they will get Milky Way (MILK) tokens. Moreover, it provides an extensive range of easy token transition, liquidity pools, and extra perks for early investors.
How does SpaceSwap DeFi Protocol Functions?
SpaceSwap is a DeFi protocol that unites users to various liquidity pools and gives MILK governance tokens to incentivize. The platform remunerates liquidity providers with a portion of the transaction fees and returns the equal amount of MILK tokens on the top of that. It provides liquidity providers supplementary means of profit-making. While traditional protocols are designed to bring liquidity providers loan interest only, SpaceSwap takes it a step further by including a new yield farming scheme. However, apart from the high APY rates, users will relish extra incentives in the form of MILK tokens.
Transcending the technological potentialities of Uniswap and similar protocols, SpaceSwap allows cross-platform token transition. Additionally, it will enable users to move their liquidity tokens from one pool to another to advance their current deposits to SpaceSwap pools with minimum transaction fees. So far, the native MILK token intends to function purely on governance functions. Moreover, the token will allow users to vote and choose eligible liquidity pools.
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