DeSpace Protocol


The DeSpace lending product is known as DeLend and will be similar to MakerDAO with the release of a secured stablecoin backed by DES coin and DeSpace technology.
It will also be possible for DeSpace users to access and offer liquidity to other existing lending platforms like Aave and Compound via DeSpace, and they will earn transaction fees when they execute transactions. As an interest-generating platform, DeLend protocol is an interest-generating loan platform with the release of its stablecoins (dUSD, dEUR, dPound, etc) backed and secured by a basket of frozen assets including DES coin. DeLend was inspired by the MakerDAO model as they were one of the first DeFi protocols on the market and their model is time-tested and successful. The DeSpace lending platform itself will be competitive and will accept collateral in DES coin and other popular cryptocurrencies and stablecoins. Unlike the other lending platforms, the interest rate will be highly dynamic based on platform usage.
DeSpace’s lending Interest rate will stay at par with market rates when platform usage is very high (for example, when demand for a loan is at an all-time high), the interest rates for providing liquidity will be increased by 10% to 20% higher than the market rates to encourage liquidity providers. But when loan demands are low, loan interest rates will be subsidized to encourage loan borrowers. Also, DeLend users will have the opportunity to earn DES coin for all the loan and liquidity transactions processed. The goal is to make sure that the platform is liquid and active at all times. This way, the platform will always be active with demand and supply for loans.
In summary, all activities that happen on DeSpace will attract rewards to users in the form of mining and staking via the DeChain custom mining algorithm which is known as decentralized proof of transaction and proof of stake (DPoTS).