DeSpace Protocol helps users navigate the DeFi and NFT space on one platform
DeSpace Protocol is a platform that brings together various functions within the DeFi and NFT area of the crypto ecosystem into a single user-friendly interface. It is an advanced, all-in-one, multi-chain platform that contains DeFi and NFT product integrations along with other DeSpace Protocol products.
DeFi uses blockchain to eliminate the need for intermediaries in the financial sector, thereby making financial services accessible to all. NFTs, on the other hand, have increasingly become a part of our everyday lives due to their utility in animations, contemporary art auctions, digital artworks, music videos, games, event tickets, etc.
Now with DeFi and NFT integrations on the DeSpace platform, people can buy, sell, bet or transfer NFT assets and navigate the entire DeFi and NFT space on one platform while earning DES coins.
Founded in 2021 by Francis Obasi, DeSpace Protocol consists of several products that allow users to access multiple DeFi and NFT protocols, and they include:
- DeSwap DEX
The DeSwap decentralized exchange (DEX) is DeSpace Protocol’s latest product. There is a multi-chain AMM DEX on Ethereum, BNB Chain, Polygon and Cube Network, with other blockchain networks in the works. DeSwap DEX allows users to exchange tokens quickly with low slippages and one of the lowest fees in the DeFi space.
In addition to that, it offers liquidity providers (LPs) a whopping 0.3% swap fee over a six-month incentive period, which is almost double the 0.17% offered by PankcakeSwap and among the best rewards on the market.
DeSwap is home to DeSwap Farms, where LPs can earn attractive $gDES returns on stakes. DeSwap also includes a referral program where users who refer their friends will receive 100% of all their referral swap fees back as rewards. The DeSwap tool for liquidity migration is also active.
The migration contracts on DeSwap have integrations for Coinbase wallet, Binance wallet, Bitkeep wallet, Trust wallet, Mestamask and other leading DEXs. This makes moving liquidity to DeSwap simple and possible with a few clicks, thus eliminating the stress of having to remove liquidity, switch sites and re-add liquidity.
- DeFi Aggregator
DeSpace’s DeFi aggregator allows users to navigate through multiple DeFi solutions such as DEXs, lending protocols, decentralized cloud services and other related decentralized solutions, all in a single interface. This ensures that users can easily access a full range of products, while reducing the risk of fraud and data leaks. Thanks to our transaction reward system, users will be reimbursed in DES and gDES for the transactions they make through DeSpace, so they can effectively reduce the fees they pay on external services by using DeSpace.
DeSpace’s DeFi aggregator will allow users to efficiently access the incredible world of DeFi from a single dashboard, and will ultimately increase DeFi liquidity by aggregating the various DeFi solutions across various chains.
- NFT lottery and auction blocks
The DeSpace Protocol NFT Auction and Lottery pads promise a brand new exciting opportunity that will change users’ DeSpace experience as they are able to stake NFTs in the DeSpace ecosystem to improve the returns they get from a farm. In addition, some NFTs can be combined for enhanced utility, guaranteeing that collections always preserve a base value.
Users can enter draws to win NFTs from shared pools with DeSpace Protocol partners using the NFT Lottery Pad. The platform works with its partners to ensure that the collections provide benefits that make them worthy investments. It’s a fun way to interact with a variety of communities and give users the ability to buy NFTs with great tools.
The DeSpace NFT Auction Pad, on the other hand, gives celebrities, influencers, project managers and brands the chance to offer high-value, unique NFTs to the community. They are highly collectible and offer holders amazing rewards such as physical meet-and-greets with celebrities or redeeming them for real collectibles.
- NFT marketplace aggregator
Users will be able to trade NFTs from multiple chains, view NFTs on different marketplaces, access and unlock the utility in their NFTs, and be rewarded with DES for interacting with the platform through DeSpace’s aggregated NFT marketplace.
An aggregated NFT service will help solve the liquidity problems affecting NFTs and enable new customers to access this expanding market through an intuitive interface because there are so many chains and marketplaces.
- DeLend
Using the decentralized lending network DeLend, anyone can stake DES or other backed security in exchange for stablecoin payments. In addition, DeLend offers dynamic interest rates that stimulate borrowing when demand is low and lending when demand is high.
- DeSpace DAO
Although still a work in progress, at launch users will decide how the DeSpace protocol is operated and governed with gDES as the governance token.
- DeChain
The DeSpace ecosystem is supported by DeChain, a Layer-2 cross-chain decentralized proof-of-transaction and proof-of-stake blockchain. DeChain will help solve the issue of interoperability in the blockchain industry by being compatible with a large variety of existing blockchains. Once the proof-of-transaction validation method is operational, all DeSpace users will be eligible to receive $DES token incentives for every transaction they make using DeSpace. Users can anticipate “coin back” even when using the aggregators.
For security, speed and high throughput, DeChain combines delegated proof of stake and decentralized proof of transaction consensus mechanisms. As a result, the DeSpace protocol ecosystem can continue to have cheap transaction fees while being highly scalable.
- $DES token
The native token for the DeSpace ecosystem and the DeChain network is the DeSpace Token (DES). The coin has a number of uses, including utility, governance, and acts as a means of payment for any transaction costs incurred in the DeSpace ecosystem.
While the DeSpace Protocol acts as a multi-chain navigation tool that enables interaction between DeFi and NFT protocols from a single interface, the platform also provides verifiability of ownership to NFT owners. This allows NFT owners to use their assets as collateral to obtain loans from the DeFi space.
The platform also offers DeFi and NFT investors a single source product. By enabling users to improve their experience by increasing their mining yield or making room for the NFTs they own, the platform solves the lack of utility for NFTs. The cards give users access to various benefits and the ability to mix their cards to improve both the experience and the usefulness of the ecosystem.
Ultimately, DeSpace works to build a solid, user-friendly and secure system for DeFi users and create value for the NFT cards in their ecosystem.
