Dear friends! You haven't received any news or updates from us for some time. We assure you there is no reason to worry! Our project is alive and well. We are acting according to the current market conditions.
You all know perfectly well that the crypto industry is experiencing a recession. This is absolutely normal, and the recession will be followed by a new cycle and new records. We’re using this lull to strengthen our technological base, reconsider some direction, and enter the new round ready for new challenges.
We have several plans in motion at the moment.
AI to the Rescue
We couldn’t escape the current trend for Artificial Intelligence. We believe that this technology will be an integral part of our lives. SpaceSwap has always used an experimental approach and explored new fields and this is no exception. The beginning of this year was marked by beginning our active studies of OpenAI, and (in particular) the ChatGPT product, which in the future will be able to improve DeFi mechanics.
OpenAI is an AI research and deployment company, ensuring AI benefits all of humanity. OpenAI LP is governed by the OpenAI nonprofit board.
ChatGPT is the OpenAI development which replicates human conversational patterns. The dialogue format makes it possible for ChatGPT to answer followup questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.
LayerZero for the Cross-Chain Bridge
The project developers are actively following market innovations and because of that, the new version of our cross-chain bridge will be based on LayerZero technology. This will save on transaction costs and increase the speed and security of sending assets from one network to another.
LayerZero is a user application configurable on-chain endpoint that runs a ULN. LayerZero relies on two parties when transferring messages: the oracle and the relayer. When a UA sends a message, it is routed through the endpoint on chain A. The endpoint then notifies the UA specified oracle and relayer of the message and its destination chain. The Oracle forwards the block header to the endpoint on chain B and the Relayer submits transaction proof. The proof is validated on the destination chain and the message is forwarded to the destination address.
veTokenomics for Future Sales
The tokensale participation algorithm on our launchpad will be changed. Currently, users must stake MILK2 in order to receive an allocation. We conducted market research and realized that such a model is a little outdated. We have several proposals for improving it, namely the mechanics of veTokens. As soon as we formalize all proposals, we will launch a vote for the community to collectively make a decision .
VeToken (vote-escrow token) enables DeFi users to boost their yield and farming rewards without sacrificing liquidity, locking tokens in for long term holding, and generating maximum rewards; all while participating in DAO governance with minimal effort.
Keeping a finger on the Pulse
Some projects that have been incubated on our launchpad have not yet launched their tokens and have not conducted distribution. The SpaceSwap team protects the collected user funds and maintains contact with all our counterparties. The sales policy remained unchanged.
That’s it for today. We will keep you updated on our work! Should you have any questions, please contact us!