Sphere Monthly Report — EM 1
Bringing You the Latest Ecosystem News
Welcome to the first edition of the rebooted Sphere Monthly Report — your one-stop destination for all things Sphere!
After a brief hiatus and switch up, we are ecstatic to relaunch this community touch-point and provide a transparent window into the inner workings of the Sphere Ecosystem. Consider this your inside scoop into the key developments and updates across our suite of trailblazing DeFi protocols.
In this inaugural edition, we cover:
- Sphere’s Appearance in an Arbitrum AMA
- A Recap of Sphere’s Value Proposition
- Fun Halloween Activities for the Sphere Community
And more. So without further ado, let’s dive right in!
Sphere Bringing Innovation to Arbitrum
Kicking things off, we are thrilled to report that Sphere participated in a riveting AMA hosted by the Arbitrum Foundation. With CryptoPhat representing Sphere as the special guest, our team had the opportunity to introduce the Arbitrum community to the immense utility offered by Sphere and its ecosystem of protocols. You can listen to the full AMA here.
As you know, Preon Finance first launched on Arbitrum. Immediately positioning itself and its native stablecoin, $STAR, as a liquidity bridge between Arbitrum and other chains, Preon provides Arbitrum users with instant access to yield opportunities across various chains. Sphere chose Arbitrum as Preon’s initial home due to Arbitrum ecosystem protocols’ emphasis on collaboration and alignment with Sphere’s values of decentralization and security.
Overall, Sphere adds a wealth of capital efficient strategies to enrich Arbitrum’s thriving ecosystem. Our suite of protocols, including Preon and Dyson, equip users to maximize the yield of their crypto portfolios — all while accruing value to Sphere’s treasury and the $SPHERE token.
Preon Hosts AMA with Zero Protocol on zkEVM
In more recent news, Preon Finance held an insightful AMA with Zero Protocol, a promising new project built by Retro Finance that recently launched on Polygon zkEVM.
As a long-standing partner of Retro, Zero joins the Sphere ecosystem by proxy. Specifically, Preon has previously teamed up with Retro to make the AMM platform a hub for $STAR liquidity on Polygon PoS.
The AMA revealed plans for Preon to supply $STAR liquidity directly on Polygon zkEVM using Zero as the liquidity venue. By depositing $STAR into Zero’s yield-bearing pools, users can earn substantial APRs. The competition created between liquidity providers ensures they put forth the most powerful yield solutions for users.
Furthermore, Dyson will launch auto-compounding vaults, turning deposited Zero LP tokens into set-it-and-forget-it yield machines. Those receipt tokens can then be used as collateral to borrow more $STAR — making Preon the first CDP enabling users to leverage UniV3-style LP tokens.
Retro-Ichi Vault
Shifting gears, let’s discuss the Sphere treasury strategy of employing a Retro LP managed by Ichi Foundation. This blue-chip LP utilizes Retro’s unique UniV(3,3)-style structure for concentration of liquidity within efficient bounds.
On top of optimizing capital efficiency through Ichi, this vault also benefits from Dyson’s auto-compounding to maximize yields. The LP tokens can then be supplied as collateral on Preon Finance.
Gradually, this position decreases Preon borrow risk while generating yield via Retro. That yield gets compounded back into the position. Accordingly, users gain increasing capacity to borrow $STAR over time and direct it toward Retro and Zero opportunities on Polygon PoS and zkEVM.
By bridging PoS and zkEVM, $STAR provides seamless liquidity between the two scaling solutions.
Revisiting Sphere’s Core Value Proposition
For those less familiar with Sphere, let’s do a quick recap.
Sphere Finance aims to become a DeFi meta-governance hub, with $SPHERE token holders earning yield sourced from across its growing ecosystem.
By compiling the most optimized versions of popular DeFi utilities, Sphere solves problems for both users and projects. The end goal is a suite of protocols with governance and rewards funneled to $SPHERE holders.
With in-house protocols like Dyson and Preon, Sphere can amplify yield for its community. As $veSPHERE unlocks, holders gain control over the very direction of the ecosystem.
Ultimately, $SPHERE intends to provide exposure to a diversified crypto portfolio with forced appreciation over time. Holders reap the gains as Sphere’s flywheel of value accrual kicks into high gear.
Halloween Comes Early with Sphere’s Spooky Celebration
And now, for some fun! In the Halloween spirit, Sphere is hosting a series of seasonal events and competitions for our ghoulish community.
From October 30th-31st, the Sphere Discord will be transformed into a virtual haunted house. Join us for a horror story contest, trivia, gaming sessions and more as we bring the creepy-crawly cheer of All Hallows’ Eve to DeFi!
Beware the shadows and be sure to come in costume — this party is one you won’t want to miss!
The Future is Bright with Sphere
And with that, we close the book on the first edition of Sphere Monthly Report: Rebooted! We hope you enjoyed this transparent glimpse into the inner workings of Sphere and our ecosystem protocols.
As always, thank you for supporting our mission to push DeFi innovation to its limits. We can’t wait to continue building with our extraordinary community!
If you haven’t already, be sure to join us on Discord and follow Sphere’s official X account. The future looks bright, and we want you along for the ride!
