Gourmet Galaxy: A Defi proposal out of this planet
Gourmet Galaxy: from Ethereum to Polkadot
Recently I have read a lot of information about what Polkadot has managed to progress in a very short time in the crypto world, being constantly compared to what the Ethereum network represents and has managed to build. Just a month ago, for example, the web portal of Forbes, the most important business magazine in the world, developed an article entitled “Ethereum Killer’ Polkadot: What’s So Great About It, And Why Buy It? “, where among many cases manages to highlight the supremacy of the Ethereum network on operations related to cryptocurrencies, however it also highlights that within the same network arises a problem that has become increasingly important: the GAS, this is nothing more than a fee required to perform various operations, thus achieving the increase in price of the actions performed on the network. So, in this article highlight the importance then of the Polkadot network as a system whose purpose is similar to that of Ethereum network.
I mention all this and this specific Forbes article that I will leave below this text, because precisely one of the most important features of Gourmet Galaxy is that it is a project carried out on the Ethereum network and with a view to in the future advance and sustain itself on the Polkadot network. This is the first feature that I find remarkable about Gourmet Galaxy: it is a project quite well informed of what is happening in the crypto world.
This project has managed to see the breadth of possibilities and considerable improvement of the experience that Gourmet Galaxy can offer if it advances and evolves to use Polkadot, but still remaining cautious to hold for a while on Ethereum, plus for the time being, Polkadot does not yet involve the management of NFT (Non fungible token) which is fundamental to the development and construction of the original universe raised by Gourmet Galaxy.
Ok, we already understand about Gourmet Galaxy’s plans to become a project on the Polkadot network, but what is Gourmet Galaxy’s project proposal really about?
Actually, trying to simplify this project to one that is able to evolve from Ethereum to Polkadot and that also involves NFTs, is quite unfair to this proposal that was able to build a whole universe complete and full of services that enrich the experience of using Gourmet Galaxy.
So, in general terms, Gourmet Galaxy can be explained as a proposal based mainly on the creation of a universe where the NFTs (in the form of unique and particular planets) give rise to a whole structure of intertwined services that allow Gourmet Galaxy to be a complex, complete and sustainable project over time.
Among the services included in Gourmet Galaxy are: GUM Farm, GUM Swap and GUM Pad.
GUM FARM: Gourmet Galaxy’s Yield Farming Service
To understand this service available from February 3, 2021 in Gourmet Galaxy, it is necessary to understand perfectly the importance of the term Yield Farming in the Defi world. This term is not new in this world, on the contrary, it is well established in Defi products, being a frequently used resource between expert and inexperienced investors.
Yield Farming is a service that is performed through a virtual smart contract where one party puts its funds in a liquidity pool, these funds in turn drive and allow a virtual cryptocurrency lending system to work, and this party that puts its funds in the liquidity pool, in turn, is rewarded by the payment of commissions.
GUM Farm is then, Gourmet Galaxy’s service in charge precisely of loan distribution, in which Gourmet Galaxy’s ERC-20 token titled GUM participates and by likewise also ETH. This process is carried out through Gourmet Galaxy’s online platform and is available to any user who wishes to join this proposal.
GUM SWAP: A service inspired by Uniswap and Sushiswap
Gum Swap is Gourmet Galaxy’s answer to the decentralized cryptocurrency financial exchange system, it is inspired by the renowned Uniswap, known as the most recognized interface of its kind, being characterized by its speed, optimization and the use of AMM to calculate swap rates and Sushiswap, rival of Uniswap whose aspirations are to achieve a reduction of fees. In other words, GUM Swap is a project that takes the best of these two platforms and merges it with its unique and interesting idea of a galactic universe.
GUM PAD: Gourmet Galaxy’s latest release
Completely bypassing the ICO (Initial Coin Offering) and IEO (Initial Exchange Offering) funding systems, Gourmet Galaxy is fully committed to providing an IDO-based Crownfunding service. The adoption of the IDO system, as reported directly on Gourmet Galaxy’s Medium portal, was a decision based on the speed of the funding process, with an immediate publication listing and quick access to the liquidity resources allocated to the project in question, complemented by particular reduced transaction costs which benefits everyone involved in the process.
The way GUM Pad works is extremely simple, and is intended for crypto-related startup leaders who wish to obtain funding and who will go through a careful evaluation process in order to verify the security and authenticity of a project. Gum pad is also supported by three different types of networks that further nurture the funding experience. These networks are: Huobi Eco Chain (HECO), Binance Smart Chain (BSC) and Ethereum (ETH).
Gourmet Galaxy is an attractive Project and quite well informed of what really happens in the Defi reality, it is very difficult in this environment to find a Project that from the beginning has its foundations well laid out and a planned future. In conclusion, this is a project with all the possibilities of becoming a colossal proposal, and we hope it will be so.
Some links to which reference was made in this article:
https://forbes.com/sites/kenrapoza/2021/02/21/ethereum-killer-polkadot-whats-so-great-about-it-and-why-buy-it/?sh=2e82feec76fc
https://gourmetgalaxy.medium.com/welcome-to-gumpad-97b07e239929
https://gourmetgalaxy.medium.com/gumpad-gourmet-galaxys-crowd-funding-platform-1748d4e48b20
https://gourmetgalaxy.medium.com/gum-farm-are-live-now-ee4e2ce7b674
