What is SpaceSwap? SpaceSwap Beginners Guide

shaheer001 (57)in #spaceswap • 4 years ago

SpaceSwap

SpaceSwap is the decentralized finance protocol that is designed on the Uniswap protocol. It is based on the smart contract that will audit soon to fix any vulnerabilities. It has been improved and refined. As Defi is growing high day by day and space swap claims to improve over juniors fat, it follows the award distribution algorithm despite the one significant difference that unified to ducted 0.25% of transaction fee and shared it directly between the liquidity providers. In contrast,t space walk deducted 0.05%, converted to the milk, and given back to the milkshake holders.

SpaceSwap Protocol

SpaceSwap defines protocol provides some extra incentives in the form of MILK tokens to open. SpaceSwap also provides the cross-platform token transitions by providing a free platform to the traders and investors to move their liquidity tokens from one phone to another and can also allow them to move their current deposits to pay SpaceSwap pools along with the minimum transaction fee.

MILK Tokens

SpaceSwap uses its MILK tokens that are designed to provide its users with an environment that is free to vote and choose their eligible liquidity pool. The users will get the extra option to trade or exchange their MILK tokens as the developers do not exclude the possibility of milk token trading and exchange.

SpaceSwap Beginner Guide

The first step first opens up the SpaceSwap homepage. The dashboard will open in front of you. You have to click on the connect wallet. It will want you to allow them to connect your wallet to the spaceSwap. Recently spacewalk supports the metamask browser's wallet; it will add other options very soon. Keep in mind that Metamask might charge some fee to connect with SpaceSwap. But you have to pay only once.

After this process, you will be able to stake assets in the liquidity pools and can pay ETH fees in just single click.

After proceeding with the dashboard, it will show you the overall liquidity in the space swap pools and the amount of milk in your glass. For the first time, your milk glass is empty, but as far as you purchase the milk on Uniswap and get the milk coins as the reward for staking, you can fill your glass with milk in the milky planet pool.

Now, after this, are you ready to explore the spaceswap universe?

To explore the SpaceSwap, click on the top middle option, Milky Planets, to start your ride in your milky way and reap several Defi profits. The Milky Way contains too many decentralized uniswap pools, such as.

Strawberry (MILK-ETH)
Classic (USDT-ETH)
Vanilla (USDC-ETH)
Chocolate (DAI-ETH)
Salt Caramel (SUSD-ETH)
Pistachio (UMA-ETH)
Blueberry (BAND-ETH)
Raspberry (LINK-ETH)
Milk Chocolate (AMPL-ETH)
Orange (COMP-ETH)
Liquorice (LEND-ETH)
Cinnamon (SNX-ETH)
Almond (YFI-ETH)

You can check out liquid pools from the dashboard of the SpaceSwap. These liquidity pools on the spaceeswap were known as Milky Planets, and each Milky Planet has its particular crypto assets combination.

MILK starts with Unicorns.

Before diving into the milky planet to start making the SpaceSwap crypto cow, you have to acquit with the Unicorn of the DeFi industry. Well, to get LP tokens, all of the liquidity providers' uniswap protocols have to deploy in the infrastructure of the SpaceSwap.

For example, to provide liquidity to get an ETH-UMA UNI-V2LP token, you should have ETH and UMA coins in your wallet.

Open Uniswap, click the Pool option, and then click on the Add Liquidity button to choose a liquidity pool.

By default, ETH is selected. You can click on Select the amount of Ethereum and choose UMA. Before doing this, always remember that it will charge a fee when you will buy any coin in Uniswap and add liquidity to the pools.

How to stake in SpaceSwap?

Select the Pistachio planet (UMA-ETH UNI V2 pool), click on it to find out the details (tokens staked, MILK earned), In order to make a deposit or withdraw your earned milk, the SpaceSwap screen will show you the two options, Milk You Earned and Your Staked Token.

To make a deposit or withdrawal, click on the Approve, and you will get connected to the metamask wallet for the confirmation of payment. So far, it is a one-time fee.

To make a deposit, enter your desired amount of LP token s and click on Max to deposit all of your balance. Press ‘Confirm’ and proceed to pay the ETH gas fee. Your LP tokens are added to the liquidity pool at this stage, and your adventure begins in the spaceSwap decentralized environment. You will enjoy APY rate rewards and MILK coins will start dropping in your wallet.