https://bihu.com/article/1512437502
https://mp.weixin.qq.com/s/ZPtnZ_ab0bOTxkihIikegg
We have made an English version of the interview describing SpaceSwap as a handy service for liquidity pool providers and an aggregator that unites all the major DeFi protocols in a one-stop station.
The token economy of SpaceSwap is very interesting. There are two kinds of tokens: MILK2 and SHAKE. What is the difference between them?
Vladimir: MILK2 is a native SpaceSwap coin that has a unique issuing mechanism aimed at decelerating inflation. You can earn the coin by investing in the Interstellar or Gravity pools on the official SpaceSwap site.
MILK2 is distributed according to the multi-player scheme provided through the SpaceSwap voting system.
SHAKE is 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 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 MILK2 minted coins - this reward will be distributed after every 100,000 blocks generated, from the moment of the project’s launch.
How can SpaceSwap attract yield farmers？What is the benefit for them when farming with SpaceSwap?
Vladimir: SpaceSwap has a number of innovations that help the platform to be secure and profitable. Our voting system helps raise the level of transparency within the platform and encourages new, promising projects to put their pools to the vote.
Any user is free to put a new pool to a vote by paying the fee of 3,000 MILK2 coins.
Moreover, SpaceSwap has already launched a lot of profitable services like:
- Interstellar
- SHAKE Blender
- Gravity
- Shadow Staking
- Index Platform
Can you tell us more about Shadow Farming? Seems like SpaceSwap is the first project to do this: users can participate in farming without sending LP tokens. Will this save a lot of gas for farmers?
Vladimir: Shadow Farming or Shadow Staking is a unique development that will revolutionize the whole DeFi farming sector.
It introduces a brand new way to stake LP tokens. All tokens are kept by the user, which makes the staking process more secure and transparent. Moreover, there’s no need to send tokens back and forth, which makes this product almost gasless.
All you need to do is go to the official SpaceSwap site, choose a pool, proceed to Uniswap, add liquidity to the corresponding pool and receive the LP tokens in your wallet.
No need to send LP tokens to SpaceSwap! The system automatically reads the information from your wallet.
This minimizes the number of transactions and steps normally needed at the start of the mining process.
What is your opinion of stablecoins? In the DeFi market, the influence of stablecoins is bigger than Ethereum...
Vladimir: We know that stablecoins are very promising. They can become a strong bond between the blockchain and the traditional financial world. However, there are two things that we are worried about:
The price of the coins is still volatile and there are no working mechanisms to check the stablecoin tokenomics and origin.
There is still a risk that your funds will be frozen - smart contracts include this issue. This means that founders can liquidate your account together with your funds.
These are the two main problems that prevent stablecoins from ruling the DeFi market instead of ETH.
To date, we are trying to solve these problems by:
- the launching of Gravity to help equal the price and give MILK2 bonuses
- the launching of Index platform to help lower the risk of losing funds and extra expenses while operating the stablecoin portfolio.
How does governance work in SpaceSwap?
Vladimir: Galaxy is the voting system that has been implemented in the SpaceSwap ecosystem. It’s always up to the users to decide which pools they’d like to see.
The idea here is to help raise the level of transparency within the platform and encourage new, promising projects to put their pools to the vote.
Here’s how the system works:
After the generation of every 100,000 blocks, a vote is launched so that users can vote for the pools they wish to keep (pools that don’t receive enough votes are deleted). Each MILK2 holder can participate in the vote.
The power of their vote is correlated to the number of coins they own.
Pools that receive more than 50% ‘FOR’ votes will be listed.
All in all, if a pool doesn’t pass the vote, it can always make improvements within the system and put itself forward again for another vote later, after the generation of the next 200,000 blocks. This will give greater motivation to forward-looking projects.
Recently, we have prevented an arbitrage attack, thanks to the changes in the ecosystem which we implemented after our Snapshot voting.
When another issue is put to vote, each user can vote ‘Yes’ or ‘No’ for the new implementation. All the dates, along with the start and end date of each vote, are available during and after the voting period.
We’re constantly working on improvements to MILK2’s profitability which positively affect the system’s stability and attract new users to our platform.
How does SpaceSwap solve the ease-of-use problem?
Vladimir: SpaceSwap has already implemented an onboarding system with a group of live supporters who will help users with any stage of learning about the project. To date, our multi-language support is offered in English, Japanese and Russian. The Japanese support is generously provided by our partners, Platinum Software Development Company.
By the way, thanks to our Platinum partners, we also have mutual Thursday streams where we discuss all the upcoming events and include the educational sessions concerning the usage of SpaceSwap products.
Moreover, our design is user-friendly, it is not creepy like many other projects are.
Comparing SpaceSwap with other aggregators like Yearn.finance or 1inch, what is the ace in the hole for your project?
Vladimir: While Yearn Finance concentrates solely on Vault technology and 1inch aggregates but doesn’t do anything innovative, SpaceSwap goes to a whole other level. We develop innovative services that not only help users earn money but also SOLVES THE PROBLEMS OF DEFI (like poor security and high gas fees).
We are not just a yield farming service or an exchange, we are an up-to-date aggregator with a lot of services that help our holders earn profits and we protect their funds at the same time.
Everyone cares about the security of crypto projects, especially a frontier project like SpaceSwap. I am wondering whether the SpaceSwap smart contract has been audited?
Vladimir: Yes, 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 and further enhance the security of our code.
Can you mention the milestones you have achieved and tell us about your upcoming plans?
Vladimir: We’ve already launched several top-notch platforms like Interstellar Gravity and Shadow Staking.
The Interstellar platform allows liquidity providers to add LP tokens to the Milky Planets (farming pools). Once users provide their LP tokens, they start to farm MILK2 tokens.
Gravity is a platform for stablecoin arbitrage that allows users to earn additional MILK2 rewards. Gravity is aimed at addressing stablecoin volatility in the DeFi market. The platform offers higher rewards in the pools that achieve the nominal value. The rewards decrease as and when the price in the pool is higher or lower than the nominal value. The system effectively stimulates the sale of expensive assets and the purchase of low priced assets.
Our services not only help users to earn profits, they change the whole DeFi ecosystem and improve it.
Right now we are planning to develop our Index platform for buying index tokens (sets of tokens) which lowers the investment risks present in the crypto sphere. The platform will contain SpaceSwap and other companies’ tokens, as well as users’ own tokens.
Our very own SpaceStableIndex (SSI) is a digital ERC-20 asset. It is practically a fully funded stablecoin portfolio.
This innovation will help users to lower the risks of losing funds and save on the time holders spend on manual rebalancing.
Moreover, SpaceSwap has already launched a NFT tokens page. Adding them to one’s portfolio means:
- earning more MILK2 coins - the final reward fully covers the cost of the options
- due to the highly limited edition, these NFT’s might grow to be much more expensive, which makes them an awesome long-term storage option
- if the NFT testing goes well, buyers will be able to boost their earnings in a special referral program
If you want to ask a question, feel free to address our official support. We’ll choose the most popular ones and add them to our official FAQ!