Here’s our 42th AMA recap!
Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with SPACESWAP on February 8, 2021. This guest star,
- Mr. Vladimir Nikitin — CEO
Introduction
Vlad,
SpaceSwap is a handy service for liquidity pool providers.
It is a unique aggregator that unites all the major DeFi protocols in a one-stop station.
The project attracted a lot of attention from the very start, thanks to its outstanding features and the promises it lives up to.
Vlad,
My name is Vladimir Nikitin (Twitter @GeniusDeFi), crypto and blockchain influencer with the huge network around the world. Ex-Chief of the Bench ICObench (the largest ICO onfo-platform 2017–2019), Ambassador for Bitcoin.com, Polkadot. Lawyer, economist, CEO of DeFi project SpaceSwap.
Q1: Could you please give us a simple introduction of SpaceSwap? What’s the motivation for starting build SpaceSwap?
Vlad,
SpaceSwap is a handy service for liquidity pool providers.
It is a unique aggregator that unites all the major DeFi protocols in a one-stop station.
We have Shadow Staking, NFT mining.
The project attracted a lot of attention from the very start, thanks to its outstanding features and the promises it lives up to.
Detailed information about the project you can find in our GitBook
Q2. What makes SpaceSwap special? How is SpaceSwap better than other platforms?
Vlad,
Firstly, SpaceSwap changes the principles of yield farming as they stand. While Uniswap brings earnings to its users for as long as they keep their assets in its liquidity pools, SpaceSwap’s pools bring profits to token holders from all of the DeFi protocols simultaneously.
Secondly, the SpaceSwap team received a lot of early requests because of the project’s unique, multi-layer incentivization model. Users not only receive trading fees — they are rewarded with MILK2 token for farming.
Finally, SpaceSwap introduced Shadow Staking, which allows staking and farming tokens without moving them to the smart contract.
Q3. Can you tell us about SpaceSwap security? How safe and strong is SpaceSwap to avoid bugs or hacks?
Vlad,
Since SpaceSwap runs on a smart contract, we paid ultimate attention to its safety. SpaceSwap’s smart contract has been audited by Lianantech, a division of the Beosin company. This is a leading Chinese blockchain security platform that delivers high expertise and professionalism in everything that concerns blockchain and smart contracts. Having over 500 smart contracts audited on its VaaS verification platform, Beosin has helped us fix any weak spots, further enhancing the security of our code.
Q4. Could you please explain about the SHAKE and MILK2 utility / use case? What benefits can we get, if we holding it in the long term?
Vlad,
MILK2 is a native SpaceSwap coin that has a unique issuing mechanism aimed at decelerating inflation. Users can earn the coin by investing in the Interstellar or Gravity pools on the official SpaceSwap site.
MILK2 is distributed according to the multiplier scheme provided through the SpaceSwap voting system.
SHAKE is also a native SpaceSwap coin that is initially pegged to the MILK2 coin at a 1:1000 ratio (1 SHAKE = 1000 MILK2). SHAKE emission is limited — only 10,000 coins will be issued, which makes the coin highly valuable.
The SHAKE price rises (+10 MILK2 per coin) with each SHAKE coin minted in the Blender.
During the reverse exchange, i.e. SHAKE-MILK2, the price is lowered by 10 MILK2 so as to prevent instant arbitrage.
SHAKE owners will share 1% of the minted MILK2 coins — this reward is distributed after every 100,000 blocks generated, beginning from the moment the project was launched.
Q5. Finally, what are the major milestones SpaceSwap achieved so far & what are in future pipeline?
Vlad,
SpaceSwap has introduced major DeFi services, such as yield farming via Uniswap protocol. We launched Interstellar community voting project, MILK2/SHAKE exchange, Gravity feature, NFTs, index coins and our legendary Shadow Staking.
In the near future, SpaceSwap will launch Shadow Staking of synthetic assets, DEX, lending/borrowing protocol, and SpaceSwap Starter crowdfunding platform.
Shadow Synthetic Assets
Remember our ‘Shadow Staking’ tech that exploded DeFi? It’s a brand-new way of staking LP tokens: you don’t actually have to move your tokens to stake on SpaceSwap. That means higher safety and no Gas fees — a perfect combo for farmers.
Spacelend (Decentralized Borrow/Lending Protocol)
Earn decent interest rates by making crypto deposits — our lending protocol supports a huge array of coins. Lend for as long as you need. We don’t have timelocks.
Spacecrew (DEX liquidity pool)
Finally, it’s happened. From now on, you don’t have to use Uniswap and protocols like it to exchange your favorite DeFi coins. Spacecrew has a large set of supported tokens and keeps transaction fees low.
By eliminating middlemen, we make coin exchange fast and efficient. Don’t overpay — reap the maximum profit from DeFi.
SpaceSwap Starter (DEX Crowdfunding Platform for DeFi Projects)
All highly prospective and carefully selected DeFi projects will be raising funds for development in MILK2 and SHAKE tokens. A great place for finding projects with high ROI potential and making investments.
DeFi newcomers will be able to run ICOs and crowd-funding campaigns, expand their community and promote tokens.
Our roadmap can be checked here.
TWITTER QUESTIONS
Q1. What motivation or problem made you build Spaceswap and why did you choose the name? What are the visions and missions of Spaceswap? what problems will it solve of what’s its Solution approach?
Vlad,
High Inflation Level
Unreliable Smart Contracts
Too many Protocols in Yield farming
Spaceswap — means that we want to aggregate all the best features available in defi , in Crypto space — that’s how appeared SpaceSwap and the main vision is gather DeFi in one-stop-station solution
Q2. Doing AMA have proven to be the best means to attract investors What’s other marketing strategy are in place to get this project known, What challenge is being fixed before launch?What gives you confidence that your project would be preferred compared to others already available?
Vlad,
We prefer to make steps having smth valuable in the pocket — during september-december — we’ve made approach with Shadow Staking as the gas fees problem solving instrument. And it’s gave us recognition among such big guys as Ivan on tech. Now we have technical basis to make another step in such products as Index coins, NFT’s and others and suppose after getting to Binance Smart Chain wiill be ready to start from “crypto gem” to rough ecosystem
Q3. Why did you choose to stand on DeFi? Do you think that decentralized finance can outperform centralized financing? What is the value of DeFi from SpaceSwap? And what problems solve can SpaceSwap about DeFi?
Vlad,
Good question
We see that market from the tech side is not prepared for mass adoption as “standard” crypto. Even experienced crypto community is not familiar with DeFi — and of course we see a lot of problems which we can solve. That’s the point we can boost the project — making fast solutions for new problems which are coming with DeFi industry
Q4. According to the SpaceSwap website, claiming a staked NFT as a reward would have some sort of consequences. Why will there be consequences if we want to claim it? What is the reason? How will it benefit Investors?
Vlad,
So we implemented NFTs for two reasons — give a simple instrument like package solution to Yield farmers (so they can count exact MILK2 quontity), from the other side we wanted to gran community with such perspective technology as NFT … and provide awesome arts of course 🤩
So after the date of farming expires — you can do with your NFT everything you want, collect or even trade as piece of art on Rarible
Q5. How does staking on Spaceswap work? And what are the benefits that the liquidity providers at SpaceSwap will get? What token pairs are available on Spaceswap?
Vlad,
So it’s very simple and kinda revolutionary. You do not need to stake your LP in usual way — just look for pair on Interstellar or Gravity
for example you see lucrative Strawberry planet with MILK2-ETH and couple of other planets with $MILK2-$CRV or $MILK2-$1INCH
So in usual way — you go to Uniswap to provide liquidity to pools and then send you LPs to farming project
With SpaceSwap — you repeat only the first step — go to Uniswap to provide liquidity to pools . Then You click start farming on SpaceSwap.app. And that’s it — your LPs physically remains on your wallet. You do not need to pay extra gas and moreover keep your LP in your wallet. It’s a real green solution for the industry. So start Farming — you’ll get your MILK2 tokens immediately after they are generated and distributed to all pools.
A little bit more about coins
MILK2 is a native SpaceSwap coin that has a unique issuing mechanism aimed at decelerating inflation. Users can earn the coin by investing in the Interstellar or Gravity pools on the official SpaceSwap site.
MILK2 is distributed according to the multiplier scheme provided through the SpaceSwap voting system.
SHAKE is also a native SpaceSwap coin that is initially pegged to the MILK2 coin at a 1:1000 ratio (1 SHAKE = 1000 MILK2). SHAKE emission is limited — only 10,000 coins will be issued, which makes the coin highly valuable.
The SHAKE price rises (+10 MILK2 per coin) with each SHAKE coin minted in the Blender.
During the reverse exchange, i.e. SHAKE-MILK2, the price is lowered by 10 MILK2 so as to prevent instant arbitrage.
SHAKE owners will share 1% of the minted MILK2 coins — this reward is distributed after every 100,000 blocks generated, beginning from the moment the project was launched.
TELEGRAM QUESTIONS
Q1. From @hagarhu
Can we expect NFT for lending/borrowing?
Vlad,
Hello. That’s a good question, we will use this feature probably
Q2. From
Crypto projects were closed in many countries due to improper regulation and licenses. How does Space Swap solve these problems?
Vlad,
SpaceSwap is a Decentralized Finance protocol.
People using MetaMask (Web3 wallet) to interact with the Smart-contract directly, here is no needs a regulation or another smth like that bullsht
Q3. From
Which one of these aspects important for you?
A-Increasing Token Price&Value
B-Empowering Platform Development
C-Building Community Trust
D-Expanding Partnership Globally
Vlad,
We are focused on all things, if we will have a good performance at B, C, D after will come a great result for A
Q4. From @one_two_S
What are your plans for this year 2021? Can you share it with us?
Vlad,
All plans at our Road Map, we will focus on building the products and new services 🚀
Q5. From @Lovross10
Are you a global project or local project? Can anybody anywhere use Your project without any restrictions?
Vlad,
We are global project, you can find our website on 4 languages, English, Chinese, Korean, Japanese
Q6. From @Emmie971
After talking about the technology and advantages of your project, what feedback do you expect from us as a community? How can we invest and assist?
Vlad,
The best feedback from community is to use our platform 💪
- Telegram : https://t.me/SpaceSwap
- Twitter : https://twitter.com/spaceswapdefi
- Website : https://spaceswap.app/
- Discord : https://discord.gg/r6RymJj
- Github : https://github.com/spaceswap
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about SPACESWAP.
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