DeSpace Protocol is a platform which aggregates different functionalities within the DeFi and NFT space in the crypto ecosystem into a single user-friendly interface. It is an advanced, all-in-one, multi-chain platform containing DeFi and NFT product integrations alongside other DeSpace Protocol products.
DeFi uses blockchain to eliminate the need for intermediaries in the financial services 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 usefulness in animations, contemporary art auctions, digital artworks, music videos, games, tickets to events, etc.
Now with DeFi and NFT integrations on the DeSpace platform, people can buy, sell, stake or transfer NFT assets and navigate the entire DeFi and NFT space on one platform while they earn DES coins.
Founded in 2021 by Francis Obasi, DeSpace Protocol comprises of several products that allow users access several DeFi and NFT protocols and they include:
- DeSwap DEX
The DeSwap decentralized exchange (DEX) is DeSpace Protocol’s latest product. It is a multi-chain AMM DEX on Ethereum, BNB Chain, Polygon and Cube Network, with other blockchain networks in the works. DeSwap DEX allows its users to swap tokens quickly with low slippages and one of the lowest fees in the DeFi space.
In addition to that, it offers liquidity providers (LPs) the full 0.3% swap charge over a six-month incentive period, which is nearly twice the 0.17% offered by PankcakeSwap and among the best rewards on the market.
DeSwap is the home of DeSwap Farms, where LPs can earn attractive $gDES yields in staking. DeSwap also includes a referral programme where users who refer their friends will receive 100% of all their referral swap fees back as rewards. The DeSwap liquidity migration tool is also live.
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 easy 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 users can easily access a full range of products while also reducing the risk of scams and data leaks. Users will be reimbursed in DES and gDES for the transactions they make through DeSpace, allowing them to 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 disparate DeFi solutions across various chains.
- NFT lottery and auction pads
The DeSpace Protocol NFT Auction and Lottery pads promise a whole new exciting opportunity which will modify users’ DeSpace experience as they’re able to stake NFTs within the DeSpace ecosystem to improve the yields they receive from a farm. Additionally, some NFTs can be combined for improved utility, guaranteeing that collections always preserve a base value.
Users can participate in draws to win NFTs from joint collections with DeSpace Protocol partners using the NFT Lottery Pad. The platform collaborates 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 provide users with the ability to purchase NFTs with great utilities.
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 like physical meet-and-greets with celebrities or redeeming them for genuine collectibles.
- NFT marketplace aggregator
Users will be able to trade NFTs from several chains, view NFTs on different marketplaces, access and unlock the utility within their NFTs, and be rewarded with DES for interacting with the platform through DeSpace’s aggregated NFT marketplace.
An aggregated NFT service will assist in resolving the liquidity problems that afflict NFTs and enable new customers to access this expanding market through an intuitive interface because there are so many chains and marketplaces.
With the help of the decentralized lending network DeLend, anyone can stake DES or other supported collateral in exchange for stablecoin payments. Additionally, DeLend offers dynamic interest rates that incentivize borrowing when demand is low and lending when demand is high.
- DeSpace DAO
Although still in the works, when launched, users will determine how the DeSpace Protocol is operated and governed with gDES as the governance token.
The DeSpace ecosystem is supported by DeChain, a Layer-2 cross-chain decentralized proof-of-transaction and proof-of-stake blockchain. DeChain will assist in addressing the issue of interoperability in the blockchain industry by being compatible with a large variety of existing blockchains. When the proof-of-transaction validation method is operational, all DeSpace users will be eligible to receive $DES token incentives for each transaction they do using DeSpace. Users can anticipate “coin back” even when utilizing 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’s ecosystem may continue to have cheap transaction fees while being highly scalable.
- $DES token
The native token for the DeSpace ecosystem and DeChain network is the DeSpace token (DES). The coin has a variety of uses, including utility, governance, and serving as a means of payment for any transaction costs incurred in the DeSpace ecosystem.
While DeSpace Protocol functions as a multi-chain navigation tool which allows for interaction between DeFi and NFT protocols from a single interface, the platform also provides the 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 through raising mining yields or obtaining space drops for the NFTs they own, the platform solves the lack of utility for NFTs. The cards give users access to various benefits and the option to mix their cards to improve both their experience and the usefulness of the ecosystem.
Ultimately, DeSpace functions to build a solid, user-friendly, and safe system for DeFi users and create value for the NFT cards in their ecosystem.