The SpaceSwap DeFi protocol is set to be released on September 10th to offer crypto liquidity providers a new profitable form of yield farming and unite all major DeFi protocols via an all-in-one SpaceSwap Station.
SpaceSwap decentralized finance protocol provides an innovative approach to cryptocurrency yield farming. Aiming to become the first DeFi service aggregator, it promises to outperform leading DeFi platforms such as Uniswap and Curve. The project is going to be launched in 7 days and will offer early investors new opportunities for passive income; aside from deposit interest rates, they will earn Milky Way (MILK) tokens. SpaceSwap provides a wide range of liquidity pools, easy token transition, and extra perks for early investors.
“SpaceSwap is not just about yield farming – it will revolutionize the DeFi industry by providing a fair and profitable protocol for efficient crypto liquidity management. Leading platforms like Uniswap generate earnings only while users keep their assets in liquidity pools. It’s high time to change the rules of this game – SpaceSwap LP’s will earn MILK tokens on top of APY rates and benefit from ALL DeFi Protocols altogether,” said the SpaceSwap development team.
What is SpaceSwap?
SpaceSwap is a DeFi protocol that connects users to a multitude of liquidity pools and provides MILK governance tokens as a means of incentivization. The platform rewards liquidity providers with a portion of the transaction fees and pays the corresponding amount of MILK tokens on the top of that. SpaceSwap represents a new generation of yield farming services by enabling easy token transition and distribution over third-party liquidity pools.
The project is being launched on 10th September. It will start with the Uniswap protocol improvement first, with Curve, Compound, Yearn, and other protocols added in Q4 2020. According to the roadmap, SpaceSwap will turn into a DeFi superstructure covering major DeFi protocols in one place.
SpaceSwap DeFi protocol gives liquidity providers additional means of profit-making. While conventional protocols are designed to bring liquidity providers loan interest only, SpaceSwap takes it a step further by introducing a new scheme of yield farming. Aside from the high APY rates, users will enjoy additional incentives in the form of MILK tokens. Thus, their passive income isn’t restricted by the deposit period.
Exceeding the technical possibilities of Uniswap and protocols alike, SpaceSwap enables cross-platform token transition. It allows users to move their liquidity tokens from one pool to another so that they can move their current deposits to SpaceSwap pools with minimal transaction fees. Project developers promise to provide a wide range of various liquidity pools for DeFi & CeFi protocols – Oracles, lending protocols, synthetic assets, and so on.
So far, the native MILK token is designed to perform purely governmental functions – it will enable users to vote and choose eligible liquidity pools. The developers don’t exclude the possibility of MILK trading and exchange, which will bring users extra options for earning.
So far, early investors have already claimed the liquidity – it will be distributed over pools after the opening. With one week left until the official launch, white-listing is finishing soon. Early contributors will get privileges and premium account status with extra perks and MILK tokens.