The DeFi market began its meteoric rise in early 2020. In just half a year, the total value of all assets locked in DeFi has grown by a factor of 15 – from $600 million to $9 billion. Such changes indicate an increase in interest from the crypto community and investors. DeFi can be safely called the ‘hot hit’ of 2020.
DeFi Is Flying Rocket-High!
The market growth has become especially sharp in the last two months. Representatives of DeFi services such as yearn.finance and Uniswap come to mind. The price of the YFI coin increased from $100 to $40,000 within two months, with the daily volumes on the Uniswap decentralized exchange (DEX) surpassing those of Coinbase and are now reaching $1 billion per day. Let’s stick with Uniswap.
Uniswap is a decentralized protocol with one main purpose – providing liquidity. Of course, it’s based on the Ethereum blockchain. Uniswap gives users instant and unstoppable access to liquidity. It’s good for developers, it’s good for traders, it’s good for liquidity providers but can it be even better? Yes it can – and the answer is SpaceSwap.
SpaceSwap – A Real Contender For The Throne?
SpaceSwap is an innovative DeFi protocol that aims to improve upon Uniswap and other liquidity pools (Curve, Compound, Yearn, etc.) to become the aggregator of major DeFi services. Being a one-of-its-kind project, it offers liquidity providers extra features and additional profit in the form of native MilkyWay (MILK) coins. With all major DeFi protocols united in one place, SpaceSwap will become a convenient instrument for fast and efficient crypto liquidity management.
The still anonymous project developers commented on the upcoming release of the protocol:
“We have a simple goal – to unite the disparate DeFi market using one protocol. SpaceSwap will bring together the best services as well as constant liquidity, so that millions of users can find what they need in one place. We are one week from a real revolution in the DeFi market – come join us!”
In a nutshell, SpaceSwap is a DeFi aggregator with attractive features. SpaceSwap offers more opportunities for liquidity providers. It distributes MilkyWay (MILK) governance tokens among users who make crypto deposits. Even when the funds are withdrawn and the user no longer adds liquidity, MILK reserves earn a part of the protocol’s fee.
The official launch of SpaceSwap protocol will take place on 10th September. Mark this date in your calendar to witness the revolution! In the meantime, you can learn more about SpaceSwap project from the project’s official sources.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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