We are overjoyed to announce that our team has expanded its ecosystem with the launch of their newly built Gravity platform.
In the last couple of months, we have developed a unique project that is aimed at bringing additional stability to the system, giving holders the chance to earn more while at the same time maintaining the stable price of their coins.
The core problem of all stablecoins
Stablecoins were created to fight crypto-asset volatility. That’s why the crypto society developed the new concept of assets backed by either holdings of money or securities and commodities, such as gold.
However, many crypto users and bloggers continue to believe that the stability of these assets is very dubious:
The issue is that an asset can’t really be stable while being pegged to the inflationary USD or other fiat money.
All in all, it's hard to find ways to stabilize these assets and thereby guarantee their price.
How Gravity settles the problem of stability/instability
Recently, SpaceSwap launched its ‘Gravity’ service, a platform that has been created for yield farming. Gravity was designed to bring stablecoin prices closer to their peg.
Here is the full list of stablecoins presented on the platform:
Gravity has a separate smart contract. MILK2 will be issued from within the Gravity system in direct accordance with the community vote that was held prior to its launch.
When a certain coin falls in value, the APY rates change immediately. The farming scheme lies in the fact that below-peg stablecoin pools are more rewarding than above-peg ones. This motivates people to sell their above-peg stablecoins and buy below-peg ones. Hence, the Gravity system was developed to maintain the stable price of the coins.
Gravity vs. Pickle
The Pickle project gives $PICKLES to its liquidity providers via the following stablecoin pools:
The higher the stablecoin goes above its peg, the smaller the reward gets and the vice-versa is true - the lower it goes below peg, the greater the reward gets. Such a system facilitates stablecoins to get closer to their peg as people start to sell above-peg stablecoins and buy below-peg ones.
The pools were also chosen in accordance with the voting that took place on 6th October.
- Salt caramel
MILK2-SHAKE is the core SpaceSwap pool with its 2 native tokens. This pool has the highest APY rate (580.23%).
MILK2-ETH is a Uniswap-based pool with the major cryptocurrency (ETH) acting as the fuel that allows the smart contracts to run. Today, ETH (Gas) is the main ‘treasure’ in the crypto world, as most transactions are made on the Ethereum blockchain with Gas as the fee.
SHAKE-ETH. To date, SHAKE is sky-rocketing, reaching a $1,275 price on Uniswap. It has become one of the most valuable currencies on the market.
USDC-ETH. USD Coin is a stablecoin which is pegged to the US dollar. One can always redeem 1 USD coin for US $1.00, giving it a stable price.
It is the second-largest stablecoin pegged to the US dollar after USDT. USDC is one of the major participants of the stablecoin market.
USDT-ETH. The two most popular and stable coins on the market.
DAI-ETH. Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH). It is stabilized against the value of the US dollar.
DAI is created via the Makers (MKR) Dai Stablecoin System. The system uses margin trading to respond to changing market conditions and preserves its value against the major world currencies.
SUSD-ETH. sUSD (SUSD) is a cryptocurrency token that operates on the Ethereum platform. Its price has been pretty stable in the last 180 days.
USDQ-ETH. USDQ is a one-of-a-kind ERC-20 decentralized stable asset that’s also pegged to the US dollar.
USDC-USDT. Two of the most stable coins in one pair - that’s a winner!
DAI-USDT. USDT is a stablecoin that reflects the price of the US dollar. The price remains unchangeable, thanks to Tether who allocates the same amount of USD to its reserves. A great investment and zero risks for all beginners!
DAI-USDC. The first stable coin on the market paired with a coin that’s pegged to the US dollar - one of the most robust bonds.
USDQ-USDT. The most demanded Stablecoins in one place.
These are all Uniswap pairs with high APY rates, starting at 64% and reaching 1400%.
Pickle’s average APY is much lower: 30-35%.
We’ve created a great platform that suits both newcomers and experienced holders who want to go after stable profits and amazing financial results. It’s main motto is: “minimum risks and maximum profits”.
To be continued!
Open the MILK2-ETH pool on Uniswap and click on the ‘Trade’ button to buy MILK instantly.
For more information, check out GitHub or contact the SpaceSwap team:
WeChat channel invitation via manager: