Chaoxing Dialogue Issue 17 | SpaceSwap-One-stop Service Platform for Future DeFi

At 15:00 on October 21st, the 17th issue of "Superstar Dialogue", hosted by NOVA Club and co-sponsored by Cointelegraph Chinese and Cryptogram Capital, was launched and received strong support from many media.

Nova Club is an investment ecological alliance composed of mainstream institutions in the blockchain industry. It aims to unite the resources of alliance members to discover, invest and incubate more potential and valuable projects. The members of the Nova Club Investment Ecological Alliance will jointly build an investment ecology, grow together with the project, and jointly promote the positive development of the industry. "Superstar Dialogue", as a dialogue column initiated by Nova Club, is a team of dialogue people composed of industry elite investors, only talking about the most potential projects.

SpaceSwap is a DeFi protocol, similar to UniSWAP, but with a different incentive method from UNISWAP. SpaceSwap can realize token conversion and third-party liquidity pool allocation, representing a new generation of liquid mining services.

In this issue of "Superstar Dialogue", Vladimir, SpaceSwap's chief strategy officer, visited the live broadcast room and explored the future DeFi one-stop service platform-SpaceSwap together with Nova Global CEO Xiaotong.

1. Projects and products

1.1 Project and Team

For liquidity pool providers, SpaceSwap is a convenient service. It is a unique aggregator that integrates all major DeFi protocols into a one-stop service. The project attracted a lot of attention from the beginning due to its outstanding functions and commitments.

First, it changes the current "mining" principle. As long as users keep their assets in Uniswap's liquidity pool, they can bring benefits, and SpaceSwap's liquidity pool can bring all the benefits of DeFi agreements to holders at the same time.

Secondly, due to its unique multi-layer incentive model, the SpaceSwap team received a large number of early requests (requests is a module based on network requests that can be used to simulate browser requests.)

The team is international, and the core team member is Vladimir Nikitin. In addition, the SpaceSwap team also includes 7 developers, marketing teams, graphic designers, and support teams.

1.2 Current products of SpaceSwap

Interstellar

The main SpaceSwap product that has been launched is "Interstellar", with 12 funding pools: 1. Salt caramel (MILK2-SHAKE is the core SpaceSwap pool with two native tokens, and this pool has the highest APY rate) 2.Strawberry (MILK2-ETH) ) 3. Pistachio (MILK2-UNI) 4. Orange (NOAH-ETH) 5. Chocolate (QDAO is a cryptocurrency within the ecosystem that can be used with USDQ, KRWQ, CNYQ, JPYQ and other tokens.) 6 .Blueberry (YFII-ETH) 7. Almond (CVP-ETH) 8. Liquorice (DF-ETH) 9. Cinnamon (ETH-USDT) 10. Classic (MILK-ETH) 11. Raspberry (SHAKE-ETH) 12. Cocoa (ETH-USDT)

SHAKE Blender

Here, users can exchange MILK2 for SHAKE tokens.

Gravity

Gravity is used for liquidity mining and aims to bring the price of stablecoins closer to the level of pegged exchange rates. So far, 5 stablecoins have been provided on the platform: DAI, USDT, USDC, sUSD, USDQ

Gravity has its own smart contract. MILK2 will be released directly in the Gravity system based on community votes before release.

When the value of a certain token drops, the APY rate changes immediately. The fact of the mining plan is that stablecoin pools below the pegged exchange rate are more valuable than stablecoin pools above the peg. This motivates people to sell stablecoins that are above the peg and buy stablecoins that are below the peg. Therefore, the Gravity system was developed to maintain a stable price of coins.

The fund pool was also selected based on a vote held on October 6. These are Uniswap trading pairs with high APY rates, starting at approximately 60%.

Two, SpaceSwap's two native tokens-MILK2 & SHAKE

MILK2

The current methods for obtaining MILk2 are:

1. Log in to the SpaceSwap official website and choose a fund pool to mortgage LP tokens to get MILK2.

2. Buy on Uniswap.

MILK2 tokens can be traded on any DEX, can vote on the liquidity pool and important issues related to project development, and can also buy SHAKE.

SHAKE

The current methods of obtaining SHAKE are:

1. Buy on SHAKE Blender-SpaceSwap platform

2. Buy on Uniswap.

Currently, the ratio of SHAKE to MILk2 tokens is 1:1000 (1SHAKE=1000 MILK2). After entering the market, its price is expected to fluctuate like regular cryptocurrencies. In order to maintain the value of SHAKE, SpaceSwap is considering increasing its price (+10 MILK2 per token) when each SHAKE hard token is produced.

So far, SHAKE is a rare and valuable token. The SpaceSwap project announced that only 10,000 coins will be issued. In addition, currently, only 2 MILK2s are generated per block.

3. SpaceSwap voting system

Galaxy is a voting system that has been implemented in the SpaceSwap ecosystem. The project team pointed out that it is always up to users to decide which pools they want. The purpose of this is to help increase the transparency of the platform and encourage voting for promising new projects.

Here is how the system works:

After every 100,000 blocks are generated, voting is started so that users can vote for the pool they want to keep (pools that have not received enough votes will be deleted). Every MILK2 holder can vote.

Their voting power is related to the number of tokens they own.

Pools with more than 50% "yes" votes will be launched.

Each pool can run in two election periods (200,000 blocks) to ensure the variability of projects on the platform.

In short, if a pool does not pass the vote, it can always be improved in the system and vote again after the next 200,000 blocks. This will provide greater motivation for quality projects.

To vote in a pool, a listing fee of 3000 MILK2 tokens must be paid (the tokens will be automatically destroyed). Voting will be held in the fund pool in the SpaceSwap Galaxy system. Please note that this does not guarantee the official launch, and the community will determine the fate of the fund pool. If they vote "yes", then your pool of funds will be officially included in the 12 Milky Planets.

SpaceSwap creates opportunities for its users to provide new pools; for funding developers, it provides the possibility to list their funding pools on the platform in the future. Through this model, after having the opportunity to try each pool before voting, the community alone can decide which pool of funds they want to enter the SpaceSwap ecosystem through voting consensus.

4. Project future planning

Shadow

In Shadow, all tokens are reserved by miners, which makes the mortgage process more secure and transparent. Users only need to log in to the official website of SpaceSwap, select a fund pool, continue Uniswap, add liquidity to the corresponding pool, and obtain LP tokens in the wallet. Then return to SpaceSwap again and activate the fund pool without sending LP tokens to SpaceSwap, thereby minimizing the number of transactions and gas fees.

Index

A token that allows users to profit from the entire industry.

DeFi Software center

Responsible for the collaboration and development of DeFi auxiliary projects.

to sum up

In the DeFi track, which has undergone 4 months of rapid development, the market has recently fallen in popularity, and the market value of Defi's locked position has also stalled in the past month, and the industry has begun to face problems after the fever has subsided.

From Uniswap, Sushiswap to SpaceSwap, the DeFi market has experienced various dramatic ups and downs, with Swap constantly appearing to try to join the hunt for Uniswap. How to retain liquidity through the incentive mechanism and promote the sustainable development of the DeFi ecosystem is the highest priority for each Swap to be considered. Innovative competitors like SpaceSwap need to participate to promote each other and build a more complete The blockchain and Defi market promote the renewal of the open financial paradigm of DeFi, reach a wider user group, and achieve a balance between availability and contributors' profits.