Sphere Weekly Report — CW 78
This Week in Sphere Ecosystem News & Updates
Hey Sphereans! Welcome to this week’s edition of the Sphere Weekly Report, where we delve into the latest news and updates from the Sphere ecosystem. This week, we’re thrilled to announce a groundbreaking partnership, upcoming community-focused reports, a significant APR boost, and multiple new protocol alliances.
Join us as we dive straight into all the excitement.
Dyson x Chronos Partnership: A DeFi Game Changer
One of the highlights of the week is our eagerly anticipated partnership with Chronos via Dyson. Dyson is well-known for its innovative solutions, and this collaboration will bring the power of Sphere and its suite of deFi solutions to Chronos V2, and vice versa.
The partnership will see the integration of the Active Liquidity Manager inside of Chronos, enabling an automated, efficient, and cost-effective concentrated liquidity management system. This integration will significantly reduce the costs associated with rebalancing, leading to increased fee realizations.
In line with Sphere’s ethos of lowering every barrier to entry in the DeFi space, the partnership will also ensure that swap fees are automatically bribed on epoch. This will provide users with a seamless, efficient, and cost-effective DeFi experience.
Moreover, users will now be able to manage their positions with just one deposit, with the introduction of smart vaults in the near future.
You can learn more about our incredible partnership with Chronos through the article below:
Quarterly Treasury Report: Transparency is Key
At Sphere, we believe in the power of transparency. In response to our community’s demand, we will soon be releasing the Sphere Finance Quarterly Treasury Report for the end of Q2.
This report will provide a comprehensive overview of our financial activities during the past quarter, giving Sphereans an insight into our management and utilization of resources. We believe this step will further strengthen the trust our community has in us and reinforce our commitment to transparency.
You can also view our Treasury Report for the End of Q1 below:
$ylSPHERE APR Boost
Good news for $ylSPHERE holders! We’re excited to announce that the $ylSPHERE APR has hit 20+%. With the current vAPR sitting at 21%, our holders are now receiving “real yield” on their tokens in blue-chip assets such as $wETH and $wMATIC at an even higher rate.
We remind lockers that $ylSPHERE must be relocked or withdrawn manually after the 17-week locking period to avoid the risk of being excluded from the Sphere Earnings Pool.
New Partnerships on the Horizon: Expanding our DeFi Ecosystem
We’re also thrilled to announce that we have several new partnerships with prominent protocols in the DeFi space lined up. These collaborations will further expand our ecosystem and its reach, and offer Sphereans a wider range of opportunities to maximize their returns. All of this serves to further ingrain Sphere Finance’s place at the epicenter of DeFi, with its metagovernance extending across the entire DeFi world. Stay tuned for more updates!
To sum up, it’s been a week full of exciting developments at Sphere Finance. We remain committed to our mission of building the most user-friendly and cost-effective DeFi ecosystem, and we’re grateful to our community for their continued support. Stay tuned for more updates and developments in the coming weeks by joining our community Discord server!
Until next time, Sphereans — Sphere over and out.
