SPACE Defi, this is Apollo Launchpad. We are ready for liftoff!
Space Defi is the second project gearing up to blast off out of the Apollo Launchpad. Their ecosystem includes a portfolio of crypto products focused on genuine sustainability and user focused GUI development.
Astronauts, begin your final checks.
$SPACE Token
$SPACE is SpaceDEFI’s flagship and governance token, capturing multiple sources of revenues: fees generated by SpaceBOTS, investments from protocol-owned liquidity, early withdrawal fees on SpaceGAMES, revenues generated by the upcoming $SUSD stablecoin, etc.
$SPACE can be staked with variable lock-up periods to earn more $SPACE and stablecoins, the rewards being generated by the ecosystem’s utilities.
There are 2,000,000 tokens and no more will ever be minted.
Seed Details
Investors have the opportunity to be first in line via the Seed sale (Participation requires being whitelisted). The token price will be $1 with a $250,000 total hard cap. There is a $500 minimum and $10,000 maximum for Seed investors. Additionally, there is a five month linear vesting period which I like as it stops the big whales from dumping on launch and skewering the project.
The date of the Seed Sale is unknown to me and I cannot find it in the documentation.
SPACE Defi… your documentation is inconsistent
So check me on my math… $250,000 divided by $1 per token is 250,000 tokens. The documentation here seems to disagree with the documentation here.
I can easily enough go into the telegram groups and get my answer but… it is frustrating as not everyone has the amount of time I have to dive into projects and spend hours reading every day.
Be better SPACE DEFI… be better!
Seed Sale Token Distribution
A big question on my mind is always… where do the funds raised actually go?! In this case we see it is fairly straightforward.
Half of the funds are intended for marketing services, one fifth provides capital for future buyback and burn, one fifth is directed to the treasury and one tenth of the raise is sent to the Apollo Launchpad.
Presale Details
This is very similar to the Seed sale. The whitelist for the Presale is over allocated so it will be a first come first serve
Investors have the opportunity to be second in line via the Seed sale. The token price will be $1.6 with a low cap of $250,000 and a hard cap of $1,300,000. I don’t see any information about a vesting period which is curious. This means a minimum of 156,250 tokens and a maximum of 812,500 tokens will be available in the Presale.
Scepter and Baton Sacrifices
$SPTR and $BATON tokens can be sacrificed at an 80% haircut to pledge into the $SPACE presale round. I haven’t done any calculations or considered any game theory to see if this is worth doing but it is interesting.
The date of the Presale is unknown to me and I cannot find it in the documentation.
Presale Token Distribution
Same question again… where do the funds raised actually go?!
Seventy percent of the funds are intended for the treasury, one fifth is directed to Liquidity pairs and one tenth of the raise is sent to the Apollo Launchpad.
Launch Details
$SPACE will launch at $2 which is double the Seed sale and forty cents better than the Presale. The date of the Launch is unknown to me and I cannot find it in the documentation.
I do know a SPACE-BUSD LP will be deposited on Daylight’s Orion DEX prior to launch, allowing investors to trade it.
Taxes
No good crypto project is worth its weight without taxes to maintain the system and protect it from malcontents (people who wanna ruin your day).
Interplanetary Travel requires change
A series of changes will be implemented 2 months after product launch.
The Diamond Ship Program
This Program incentivizes the holding of $SPACE tokens by offering extra perks. Each $SPACE holder receives a score based on three criteria.
- How much $SPACE they hold
- How long they hold $SPACE tokens
- How many other investors have joined SpaceBOTS through their referral code.
This score defines their rank, and each rank (in slices of 10%) is associated with different benefits such as:
● APR boost in the SpaceGAMES and locked pools
● Special role and channel on discord
● Access to exclusive bot-trading vaults
● Partnership-related perks
SpaceGAMES
I’m borrowing this text from the SPACE wiki because it’s pretty well done.
SpaceGAMES is an evolutionary game designed to increase user engagement, deliver heightened rewards and support the $SPACE token price. SpaceGAMES are fueled by protocol-owned liquidity, invested to a large extent in BTON (see the SpaceFUND tokens). The rewards earned for holding BTON, both sustainable and increasing over time, are used to deliver high rewards to the investors participating in the SpaceGAMES.
GSPACE — The original SpaceGAME
Users receive $gSPACE tokens for locking up their $SPACE tokens with a maximum lockup of two years. Longer lock-up periods receive more gSPACE tokens. When the lock-up period ends, the players can claim their SPACE tokens back.
I’m curious if the rewards are linear with respect to time. Let’s say … If I lock up for 6 months and earn 10% … would I earn 20% for locking up for 12 months?
All rewards earned on the SpaceGAMES are locked for a month. A early harvest is possible with a 25% tax, which is then re-injected in protocol-owned liquidity to further enhance the rewards of the players. Users can also unlock their SPACE early with a 50% tax.
The first gaming upgrade : Space Camps
So Astronauts locked up their $SPACE tokens to earn $gSPACE. Well now it is time to use those $gSPACE tokens to earn some rewards using one or more of three Space Camps.
Every day, one Space Camp is selected at random to receive rewards. The tax is redirected towards the prize pool. gSPACE holders can switch between Space Camps at any time.
The three Space Camps have different odds of winning, and a different share of the prize for grab:
- Navigators: 60% odds of winning, 40% of the prize
- Explorers: 30% odds of winning, 70% of the prize
- Discoverers: 10% odds of winning, 90% of the prize
As an example, Let’s say you are a Navigator. Should the Navigator camp win (with 60% chances), the amount you earn is calculated as follows:
Multiply the prize amount by 0.6, then multiply by the number of $gSPACE you hold and divide the result by the number of gSPACE tokens in the Navigator Camp.
[(Prize amount) * (0.6) * (the number of $gSPACE you hold)] / [(number of gSPACE tokens in the Navigator Camp)]
The part of the prize that is not distributed (40% in the case of Navigators) is added to the pool for the next day.
The second gaming upgrade : ‘Bribe your way to wealth’
This upgrades provides Astronauts with three options:
- Use your $gSPACE to bribe Mission Control thus increasing the odds that your camp will win the prize
- Buy more $gSPACE with $SPACE tokens
- Receive bribes and be paid in $SPACE
There is some great game theory here. $gSPACE holders can offer bribes OR receive bribes. The currency used for the bribes is $SPACE tokens. If the threshold for the bribes is met, the bribing process takes place and the $gSPACE tokens are transferred from one investor to another investor for a full week before being automatically transferred back to the original owner.
When bribes take place, the odds of winning for each camp change and can be calculated according to the following:
- Total bribing power (for all the $gSPACE tokens) = 100%
- When a bribe happens, the briber (who pays in $SPACE to receive the $gSPACE for one week) increases the odds of winning of their camp to an extent that is relative to the amount of gSPACE being bribed
- If 1% of the bribes are bought from a Navigator to an Explorer, the Navigator have 59% (60–1) odds of winning and the Explorers have 31% (30+1) odds of winning.
While the concept may be simple, their is fantastic opportunity for very interesting games to take place utilizing this system. Do astronauts form coalitions, federations, or empires to shift the bribes in their favor? Show everyone your political savvy and fight to make the system work in your favor!
The third gaming upgrade : ‘Lost in space’
There are some mysteries in Space we don’t yet understand. Keep your eyes peeled on this space for when the Scientists make a breakthrough in their understanding of the underlying physics of the universe (aka… it’s not done yet, be patient!)
SpaceBOTS
SpaceBOTS offers the Bot Trading Vaults, the only decentralized platform to allow you to bot-trade simply by staking your assets.
SpaceBOTS offers the Bot Trading Vaults, the only decentralized platform to allow you to bot-trade simply by staking your assets.
SpaceBOTS makes bot trading simple. The investor chooses a chain, a DEX and a liquidity pair. They invest the amount of their choice and the bot is automatically activated to start trading.
The first strategy available is an against the trend grid trading strategy. Such a strategy is on the lower end of the risk spectrum, yet it is a powerful revenue generator in bull, bear or sideways markets. Essentially, it buys when price decreases and sells when price increases again, capitalising on the price fluctuations within a certain range. The bot will be progressively upgraded to be more reactive to the market with a dynamic grid sizing.
Please be aware that the vaults only start being active with a TVL of 4.000 USD equivalent or more. This is to ensure that the grids are sufficiently small while gas fees do not take up too much of the realised gains.
SpaceFUND
All of the text for this section comes from SpaceDEFI documentation.
Our model’s philosophy is simple: we do everything we can to benefit the holders. We are a low-risk, medium-gain investment project offering returns much higher than traditional finance, but also lower than riskier crypto products.
We do this by offering the SCEPTER token which is 100% backed by other assets (mostly stablecoins and blue chip cryptocurrencies) which we invest to grow the treasury. We also offer a second token called BATON whose holders receive weekly USDC airdrops. The treasury will be carefully handled by a treasury manager and the community.
$SPUSD
Content also borrowed from SpaceDefi documentation.
This is SpaceDEFI’s yield-bearing and overcollateralized stablecoin, expected to be launched in March.
$SPUSD is an extremely exciting token designed to have a highly efficient use of market-neutral assets (including stablecoins and hedged tokens) with the following characteristics:
- Overcollateralization ratio varying between most of the time between 110% and 130%
- Very high APR until the TVL increases significantly; APR to stabilize around 15–40%
- Use throughout the SpaceDEFI ecosystem, including in the $SPTR and $SPACE treasuries
- Limited supply with an on/off switch to the mint function
The treasury backing $SPUSD is using two categories of yield generation:
- arbitrage (where stablecoins are held for over 99% of the time, with brief periods where other assets are bought-and-sold immediately) and
- delta-neutral strategies (ie shorting and longing BNB at the same time and generating yield on both sides). $SPUSD will start running with 3 strategies and will use up to 6 different strategies falling into the two categories mentioned.
Both types of strategies are on the safer end of the spectrum but still bear some risk. We mitigate this risk with a high collateral ratio. The revenues generated will be split between
- the collateral vault (to increase the collateral ratio),
- the $SPUSD holders (including the SPTR treasury),
- the ecosystem token holders and
- the team.
$SPUSD’s mint function has an on/off switch, and the team will only allow the minting of new tokens when the strategies can generate a high enough yield on the TVL. This protective measurefor investors limits the supply, and as a result $SPUSD may be traded above 1$, but not below. The tokenomics are designed and thoroughly tested to ensure that the yield-generation aspect is not taken advantage of by exploiters, with multiple failsafe mechanisms.
Unanswered questions
What are the token details for the Seed Sale?
Does the Presale have vesting restrictions or are they just going to dump on launch?
Conclusion
There is alot going on here. Games, bonds, tokens, floor prices, taxes and bribes. If I didn’t know better I would think this was some sort of political drama from HBO. I am going to need more time to wrap my head around the nuance and make some supporting visual documentation but I am very excited about this project as a whole. It offers various ways to make money, to ‘play’ the system both figuratively and literally.
You know what… maybe I put in $1,000 and detail my progress in the system with a series of articles.
Show Your Support
Everything I write is free from sponsorship, ads and influence. All my writing is for entertainment purposes, is not financial advice, and is solely my opinion. If you find this information useful, please use the wallet address below and show your support.
Wallet address 0xde4F6A37a3328F4471D0e3e0a34A2144660D9fBc
