The rise of blockchain technology has transformed the financial space and led to a multi-billion dollar industry. The multiple utilities of blockchain technology have resulted in different concepts and sectors springing up in the past five years.
Decentralized finance (DeFi) and NFTs are two of the most popular blockchain concepts and has attracted mainstream media attention in the past 12 months.
DeFi has taken traditional finance products like lending and borrowing and deployed them decentralized via smart contracts that run on trustless and transparent protocols. NFTs, meanwhile, has paved the way for the digitization and tokenization of art and collectables.
DeSpace Protocol is a unique platform that seeks to expand on the existing successes by creating a platform for DeFi and NFTs products.
How does DeSpace Protocol Work?
DeSpace Protocol provides a decentralized platform that consists of a suite of DeFi and NFT products aggregated from across different chains and its native products within a single interface.
DeSpace Protocol is unique from others because it is built on its native blockchain protocol known as DeChain. DeChain is a layer-2 blockchain solution that combines the Delegated Proof of Stake and Decentralized Proof of Transaction (DPoTS) consensus to great effect.
DeChain is able to provide a highly scalable architecture that is secured, posses high transaction speeds and crucially low gas costs. DeSpace Protocol leverages these features to offer NFT and DeFi services from multiple chains.
An Extensive ecosystem of products
DeSpace Protocol has an extensive suite of products that DeFi and NFT enthusiasts can explore. Currently, there are four key features in the DeSpace ecosystem and includes. NFT and DeFi aggregators, NFTPad, DeSwap and DeLend.
Users can easily trade NFTs from major marketplaces and access the very best DeFi services using DeSpace NFT and DeFi aggregators. The aggregators make it easier for users to find the best possible platforms to stake their capital for steady returns. Users are also incentivized with DES tokens when they make transactions on the DeSpace NFT and DeFi aggregators.
NFT lovers will enjoy exploring the dedicated native NFT platform NFTPad. NFTPad is equipped with the best NFT features that simplify the entire process of minting, mining and auctioning NFTs. You can easily mint NFTs within minutes and trade your collections on DeSpace’s native NFT platform. NFTPad also allows users to stake DeSpace NFTs for extra rewards in DES tokens.
DeFi enthusiasts can explore the very best products on DeSwap, the native DEX of DeSpace protocol. DeSwap has low transaction fees and fast settlements thanks to the DeChain blockchain infrastructure. Furthermore, liquidity providers can provide liquidity on liquidity pools for rewards and farm for new tokens on DeSwasp.
DeLend is the native lending platform on DeSpace. Explore the full power of DeFi by taking advantage of the different lending pools on DeLend. DeLend also has dynamic rates that encourage lending when demand is high and borrowing when demand is low. Lenders also receive extra rewards in DES tokens.
DeSpace Protocol IDO
DES is the fuel that powers the DeSpace protocol and serves as gas for transactions made within its ecosystem. DES also serves as the governance token, and holders can vote on proposals that affect DeSpace Protocol.
The token is expected to be made available during the IDO event from September 20 to September 21,2021. DeSpace IDO will be held across three launchpad platforms: DuckDAO.io, A2DAO.io and Poolz.finance and Interested participants will have to register for whitelisting, and applicants will be selected via a whitelist lottery.
A total of 781,251 tokens has been allotted for the IDO and selected applicants will be able to buy DES tokens at the lowest possible price of $0.32 per token. 50% of the tokens will be allocated to participants after the IDO, while the remaining 50% will be unlocked after a month.
DeSpace Protocol can become one of the driving forces of DeFi and NFT adoption in the blockchain industry. It also has an experienced team led by CEO Francis Ifegwu and consists of top stakeholders in the blockchain industry. Other key members include Micky Irons, Evgeniy Tretyakov and Isak Saryieu. The IDO launch is a major event and will lead to increased visibility for DeSpace Protocol.
You can learn more about DeSpace by visiting the following links