The Spherium Solution
Imagine a World Where DeFi is Made Easy & Accessible to All
The concept of a truly democratic and equally accessible global financial system probably feels like an absurdist pipe-dream to most. Even with the enormous strides that cryptocurrency and decentralized finance (DeFi) solutions have made, the current landscape presents enormous hurdles that need to be overcome before these systems can and will be adopted by the masses. The largest of these issues involve fragmentation, fees, and accessibility.
Spherium Finance offers a three-fold, non-custodial DeFi ecosystem designed to foster unity, economic efficiency, ease-of-use, and on-chain democratic governance. They’re approaching the current scattershot and disorganized crypto finance environment with long-term, scalable, and readily adaptable solutions. Rather than simply capitalizing on the immediate hype, the Spherium team is clearly playing the long game by focusing on actionable and viable strategies to unite and elevate the realm of decentralized finance.
Spherium’s all-encompassing DeFi ecosystem includes HyperSwap, SphereComp, and the Spherium Wallet, as well as their SPH utility token. Each arm of their multifaceted platform utilizes state-of-the-art technology like AMM, Layer 2 solutions, and customer-centric UI designs. They’ve done great work in highlighting and addressing the current pain points of crypto finance and continue to announce new and exciting developments in their framework as they get closer and closer to launch.
2 Reasons to Be Excited (Among Others)
Better Token Swaps — HyperSwap
Spherium’s HyperSwap system uses automated market-making (AMM) which works to incentivize liquidity providers instead of arbitrageurs. Put plainly, they’ve developed a platform for token swapping that values the real traders over the arbitrage bots that cause higher fees and slower transaction times. They do this by implementing a 5-minute delay in all price adjustments. That delay makes flash volatility much easier to manage and is incredibly effective at reducing the amount of bot activity on an exchange.
In addition to AMM, Spherium has designed its ecosystem to work with Layer 2 solutions and BSC. In a nutshell, Layer 2 utilizes roll-ups and side-chains to mitigate the amount of processing that occurs on a blockchain’s main net for each transaction. Instead of facilitating the entire transaction on the main net, Spherium will work with Layer 2 solutions to complete each trade and only utilize the main net to register said transaction.
The end result for both of these solutions is much lower gas fees, cross-chain compatibility, and better overall efficiency for all transactions.
Fairer Money Markets — SphereComp
Standard money markets rely on unequal opportunities where larger lenders and borrowers can take advantage of the system to negotiate unfair terms based on maturity, interest rates, and/or collateral. SphereComp aims to democratize these traditional markets by using algorithmically derived interest rates based on supply and demand. This will ensure a fair and balanced system where the smaller lenders/borrowers can exchange currencies at the same rate as the bigger fish who often manipulate and dominate financial marketplaces. With Spherium’s algorithmic supply and demand method, the interest rates in the SphereComp money markets will truly be tied to a free-market system, rather than the pyramid-style winner-takes-all approach that the financial world is all too familiar with.
Notable Partnerships
In late April, Twin Apex Capital, a DeFi-focused venture capital firm, announced that they’d be partnering with Spherium to help achieve their vision of a unified solution with cross-platform functionality, a user-friendly design approach, multi-wallet integration, and KYC + AML regulation.
The Non-Fungible Fillable Tokens project is a great example of the energy and enthusiasm that’s present in the crypto finance community. Spherium Finance has recently announced their support and participation in this project, signaling their commitment to the larger goals of DeFi and the community as a whole.
Spherium is planning on utilizing Polygon’s Layer 2 Aggregator to ensure the most efficient processing of off-chain transactions. Polygon is a major player in this space and Spherium’s openness to working with their technology is a good indicator of their desire to achieve their goals in the most efficient ways possible.
Additional Highlights
Spherium Finance is built by a team of crypto finance veterans with a clear vision of unifying and elevating the current DeFi landscape. They have a mission to help the average users in the decentralized finance space to “maximize their investment/loan returns with minimal effort”. In short, they have a readily achievable and comprehensive plan for bringing us all closer to a world where global financial systems are actually democratic and easily accessible.
With their democratic vision in mind, the Spherium Finance team has done an excellent job in working with members of the DeFi community to generate valuable feedback, excitement, and educational material. From their meme-generation contests to their AMA’s, they’ve been working to build a movement filled with believers that goes beyond even their ecosystem, touching on the larger questions of decentralized finance that we all should be asking ourselves.
Why are things the way they are? And how can we make them better?
Spherium Finance is at the very least helping us recognize and take viable steps toward solving those critical issues.
