SpaceGrime announces space initiative with X

SpaceGrime intends to be a decentralized fintech ecosystem where intrinsic value is derived from memes

SAN FRANCISCO, June 16, 2021 (GLOBE NEWSWIRE) – SpaceGrime is an experimental interplanetary virtual currency. It draws inspiration from memes, music, technology and digital art, as these objects will be cultural artifacts that transcend space and time and are destined to spread virally throughout the galaxy. SpaceGrime seeks to bring together a rapidly growing community of Earthlings who want to go to the Moon, Mars and beyond.

SpaceGrime, a Meme-Backed Finance, has launched a new coin – “Coin X”. X is GRIMEX’s complement in the SpaceGrime financial ecosystem. X is a deflationary token optimized as a store of value with a total supply of 21,000 online, making it 1,000 times rarer than Bitcoin. X was created by the SpaceGrime team to serve as the ultimate long-term store of value, the future complementing the GRIMEX interplanetary currency. Unlike GRIMEX which has a very high bid and very low transaction fees, X is optimized to become extremely rare over time and to increase in value more than any other coin. It exhibits hyper-deflationary, ultra-low-bid characteristics far exceeding those of any other token.

The goal is to launch the first spacecraft within a year. This first launch will test a number of technologies for subsequent launches that will be much more ambitious. We will partner with SpaceX for the launch because they have the most competitive launch rates. The first spacecraft will have artificial gravity, climate control, water recycling, solar power and, of course, blockchain nodes that support GRIMEX and X. These space missions for resources, l he energy and tourism will be a source of enormous wealth in the future.

The first spacecraft will feature a closed ecological life support system that cultivates two very important crops: psilocybin mushrooms and cannabis. These will be important for many reasons: Mushroom mycelium can be used as a radiation resistant bio-building material, and many useful drugs can be made from it to aid long-term space habitation. . Cannabis can be used for its fibers, oils, medicines and other products. The biosynergy here is remarkable because fungi can ‘eat’ dead plant waste and create a sustainable biological ecosystem in space with recycled nutrients, water and CO2. Not to mention that these products will be worth a fortune for future space travelers as they cannot be easily brought back from Earth. The automated robotic growing and harvesting and processing of crops will be monitored by cameras and transmitted back to Earth. Other cultures can also be considered.

The story continues

In addition to these mini-biosphere experiences, the first spacecraft will have artificial gravity, climate control, water recycling, solar power and, of course, blockchain nodes that support GRIMEX and X There will also be sensors that can monitor the moon and various asteroids for other resource extraction and property prospecting missions that follow. There will also be space hotels, farms, asteroid mines to produce food, metals and energy. These space missions for resources, energy and tourism will be a source of enormous wealth in the future.

Half of X’s offer was dropped to GRIMEX holders who met the following conditions: bought between May 10 and May 17 and did not sell for a week and filled out the form that was circulated (which is now closed). However, as the first part of this drop took place, it was clear that many people sold at once, so we made the decision to sporadically proceed with the rest of the drop over a vague indefinite period of time and leave it’s up to the holders to find their X dropped themselves without any announcement from the team. The idea is that this will reduce the selling pressure in the short term.

GRIMEX staking to win X

90% of the remaining half of Offer X will be stuck in a developing smart contract that allows GRIMEX holders to stake their GRIMEX and earn X as passive income over time. This will take a lot of the selling pressure off GRIMEX and distribute X slowly over the long term. The rate of X earned will start at around 10% APR and will decrease as more and more GRIMEX partners join, so as not to dilute X’s supply.

X will have implemented a mechanism that charges high fees to sellers and requires very high slip parameters. This commission will be 20%, of which 10% is “burned” in blocked liquidity and 10% is redistributed to other portfolios holding X in proportion to their assets. Slippage settings must be 25% for a transaction to be completed. In the future, just like GRIMEX, X will also be able to migrate and be interoperable with other Layer 1 blockchains for redundancy; X would not have to live with the flaws of any particular channel. X will initially be available for purchase on PancakeSwap associated with BNB and priced at 1 BNB.

X as guarantee for DeFi

X is not intended for spending or trading. It’s the equivalent of a large diamond: you can hold it indefinitely, and if you need foreign currency to spend, you can use it as collateral for a loan. X will be able to guarantee the GRIMEX loans in another smart contract. There will be a GRIMEX cash pool where GRIMEX holders can lend their GRIMEX to other holders who are applying for loans and who wish to use their X as collateral. The collateral ratio will be around 200 in order to avoid any problem due to volatility. Interest will be set and accepted by both parties, but limits will not be imposed on an APR greater than 10% and will automatically adjust to the most competitive rate in the SpaceGrime market.

These space missions for resources, energy and tourism will be a source of enormous wealth in the future. It’s no longer fantasy science fiction. It will happen and we are already seeing the early stages of it. All profits from future space missions will be distributed to holders of GRIMEX and X in proportion to their assets. If that doesn’t turn you on, I don’t know what will. More updates are coming soon!

Social connections

Facebook: https://www.facebook.com/SpaceGrime/

Twitter: @spacegrime

Instagram: https://instagram.com/spacegrimecoin?utm_medium=copy_link

Media contact

Company: SpaceGrime

Contact: FLIK

Email: [email protected]

Website: https://spacegrime.com

SOURCE: SpaceGrime