Gourmet Galaxy is a fusion between a DeFi Yield Farming and a NFTs Gaming dApp, aim at solving the problems that overshadowed Yield Farming platforms.
A little story about DeFi
Since June 2020, DeFi has been the talk of the town, with the adoption of DeFi projects going crazy, as money flow from traditional financial markets into decentralized world. As DeFi grows and Total Locked Value inside DeFi projects going higher, Yield Farming was introduced. And the rest is history.
With the current Quantitative Easing Policy and average saving interest rate of the United State’s bank dropping to near 0%, the idea of earning more than 10% APY suddenly become attractive to lot of institutional hedge funds. Meanwhile, Yield Farming projects with incentives token even raise the APY to more than 100% APY, creates the Yield Farming mania.
But the rise of DeFi and Yield Farming came too fast, and because of that its collapsed shortly just after few months, mostly due to Yield Farming projects internal problems. Thomas, our CEO who has been in the Blockchain industry since its early days and can spot a bubble when he sees one. In his mind, Yield Farming projects faced with some serious problems that cant really be solved at the time: no intrinsic value for Incentives Token, un-friendly UX and hyper-inflation.
And after few meeting with Kayra— our CTO, an idea was born. And we introduce you our latest project: Gourmet Galaxy.
What is Gourmet Galaxy exactly?
Gourmet Galaxy is the combination of an advanced Yield Farming platform and NFTs.
In case you never heard about NFTs, let us remind you about CryptoKitties? Back in 2017, its one of many things that fuel the so-called Crypto-bubble. If you don’t know, CryptoKitties gameplay is similar to the classic Tamagotchi game, but instead of some handheld digital pet, you actually get a Blockchain-digital pet. During the Crypto Kitties hype, some “kitties” actually sold for more than 600ETH ($200,000) approximately). Using NFTs, CryptoKitties gave real value to their digital pets. And thats also what we do with our Incentive Token.
When Hubble and Matrix get together with a couple of friends, they think about a Yield Farming Platform, which tokens has real use cases and intrinsic value. And thats when Gourmet Galaxy was born.
If you still confused about our project and what it does, read more about our product below!!
Gourmet Galaxy is a platform, with 5 main products:
- GUM Swap
- GUM Farming
- GALAXY Markets
- NFTs Universe
Gourmet Galaxy’s team aims to develop a friendly, easy-to-use and high-value Yield Farming platform through the five main products mentioned above.
GUM Swap is our easy-to-use swap protocol, with design inspired by famous AMM-based swap protocol such as Uniswap and SushiSwap. GUM Farm is Gourmet Galaxy’s Yield Farming Platform, that will be introduced in Q1 2021.
Galaxy Market is where you can use GUM to exchange for the Gourmet Galaxy NFT Tokens, with the relatively friendly name FOOD, use them to create planets (PLANET). PLANET is one of the key products of the project, an indispensable thing in the game Gourmet Galaxy: NFTs Universe.
NFTs Universe will be the product that plays a role in gaming the Yield Farming experience, as well as creating intrinsic value for the entire project.
All three products are aimed at one single purpose, to solve the existing problems of Yield Farming, as well as create a Yield Farming platform with high intrinsic value and easy access and ease of use. used to the majority.
Sound exciting? Let us give you some look about our projects!!