The Decentralized Finance industry has attracted millions of crypto enthusiasts, all keen to reap profits from their savings. New DeFi protocols offer four-digit APY rates for deposits in cryptocurrency and SpaceSwap is no exception. However, before you start enjoying your passive income, you need to move liquidity into decentralized pools. With gas fees dramatically increased, due to the problems with the Ethereum network’s scalability, the overall commission might be painful.
Luckily, SpaceSwap offers a comprehensive solution to this problem: it has launched the beta version of its Shadow Staking technology, which allows users to list their LP tokens in three major pools, without actually moving them! Users can test the technology and benefit from fair yield farming as well as receiving BABYMILK coin rewards on top. And they don’t even have to undergo the tiresome and expensive process of liquidity provision.
How to use beta Shadow Staking
Before you start earning with your Uniswap liquidity, make sure you have some LP tokens in your wallet.
Open the SpaceSwap website. You will see the list of available services:
Connect your MetaMask wallet by clicking on the button in the upper right corner.
Click on “Shadow” and select one of the pools. In the beta version, three pools are supported:
- SHAKE-ETH UNI V2
- MILK2-SHAKE UNI V2
- ETH-MILK2 UNI V2
Before you choose one of the Milky Planets, you need to confirm the use of your MetaMask wallet. Click on ‘Start Farming’ and pay the gas fee for that:
Once that’s done, you can choose one of the pools to stake your LP tokens in with one click and observe your BABYMILK coin balance. On this panel, you can also harvest BABYMILK rewards.
When the full version of Shadow Staking goes live, users will be farming MILK2 coins.
So far, BABYMILK coins are free but when the testing period is over, SpaceSwap will make them more valuable by assigning a price or certain functions to them. When the full Shadow Staking version is launched, it will cover all the pools on SpaceSwap.
Advantages of Shadow Staking
What makes Shadow Staking technology superb is the absence of a traditional LP token staking process. As a rule, users need to move their liquidity from one pool to another, which implies a lot of steps, each requiring gas fee payments.
What Shadow Staking essentially does is to eliminate these steps - liquidity gets listed on SpaceSwap without removing it from Uniswap!
Shadow Staking has the following advantages:
- Ultimate safety. Users don’t have to move their tokens from the MetaMask wallet, so their savings cannot be stolen, even if the SpaceSwap platform gets hacked.
- No extra gas fees to be paid. Users don’t need to remove their liquidity from Uniswap pools and move them to SpaceSwap, which means no extra steps or commissions involved. That saves users Ether.
- It’s fast. The process of Shadow Staking in SpaceSwap takes a couple of minutes. When a user connects their browser wallet and confirms the farming, all pools are connected automatically.
Bottom Line
Since Shadow Staking doesn’t cost you much (only $1-1.50 for farming confirmation) and doesn’t take much time, you shouldn’t miss this opportunity to mine BABYMILK coins. So grab your chance to expand your crypto portfolio with a new token and be among the first to try this revolutionary DeFi service.
Thanks for participating in the testing. By using the Shadow Staking beta version, you are creating the history of the DeFi industry together with us!
For more information, check out GitHub or contact the SpaceSwap team:
https://spaceswap.app/
Telegram: t.me/SpaceSwap
Twitter: https://twitter.com/spaceswapdefi
Blog: https://blog.spaceswap.app/
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