Sperax
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Sperax Monthly Newsletter | January 2022

The Sperax USD launch is a success.

We have been busy the last few weeks during final contract testing and deployment. At the same time, our community has been extremely engaged on Discord and Twitter as we announce huge steps in Sperax’s growth.

The next month will bring new challenges and opportunities for everyone in the Sperax community. We are excited to announce the APY on auto-yielding $USDs soon, the first of its kind.

In the meantime, let’s celebrate!

Liquidity Mining is Live

Shortly after releasing $USDs, a suite of Sperax Liquidity Mining opportunities went live with Uniswap v3 Arbitrum, offering both pool 2 style farms and a unique stablecoin pool with major upside potential.

The $SPA/$USDs pool filled its first tier of emissions budget in only 6 hours–over 15 million $SPA claimed with LP tokens in varying lockups.

Sperax’s stablecoin pool still has over 8 million $SPA available, with 30% APR in $SPA terms on $USDs/$USDC 190 day lockup.

Check out the farms, and read this Medium article and our Gitbook for more information.

New Budget Allocation for $SPA/$USDs

By popular demand, the $SPA/$USDs pool budget was refueled with a secondary rewards structure at noon EST, Wednesday February 2, 2022. After the first budget was filled in 6 hours, the secondary budget filled in 14 minutes. The community is clearly excited about Sperax!

$SPA/$USDs Secondary Budget Allocation

Total Budget: 150m SPA

Secondary Budget: 15m SPA
While rewards remain the same,
lockup periods have been extended
for the secondary budget.

No Lockup: 50% Base APR

90 day lockup: 2x, 100% APR

150 day lockup: 3x, 150% APR

210 day lockup: 4x, 200% APR

240 day lockup: 5x, 250% APR

Key Metrics

In a few short weeks, the $USDs stability mechanism weathered a major market downturn, maintaining a tight peg.

Over $4.5M has been locked in $USDs so far, as users look to earn from liquidity mining incentives and capture future rebase yields on $USDs.

The $SPA/$USDs pool saw 97% of $SPA rewards locked with the 150-day lockup option, indicating that many users are eager for huge rewards over a 5 month time horizon.

$USDs/$USDC pool rewards are being sought after on the 30-day lockup period, with 2.25m TVL in the Uniswap pool already.

Growth Partnership with Saddle Finance

Community members voted ‘YES’ to a proposal on the Saddle Community Form to move forward with a Saddle Finance metapool.

Saddle is the natural next step for $USDs growth on Arbitrum. By forming the Arbitrum $USDs metapool, Sperax aligns its community by pooling resources with Saddle Finance. The proposal delivers better incentives, aligns community interests, enables deep liquidity, and paves the way for future products and collaborations.

Specifications

Six Month Liquidity Incentive Campaign Using Saddle Minichef Contracts:

  • Saddle provides 3,479,339 $SDL , equaling 19k $SDL/day.
  • Sperax provides S40,000,000 $SPA , equaling 222,222 $SPA/day

Check out the proposal here.

The Race to $100m USDs

Our partner of Business Development, Alec Shaw, wrote this article about the 2022 vision for Sperax. The article includes growth opportunities, partnerships, and further forum proposals for DAO governance structure.

Check out the article here.

Weekly AMAs

We have been hosting a weekly AMA with a different theme each week to address community questions and feedback on our Discord.

Join the AMA on Wednesday mornings EST.

A Belated Welcome to Rey Young

Rey Young is Sperax’s CTO. Rey comes with an extensive background in security, software development, and is passionate about all things blockchain. His focus is to build out Sperax’s USDs ecosystem.

Rey has authored multiple technical books, articles and whitepapers. His work experience spans Fortune 500 companies and tech startups, and he’s built security products used by large banks.

After stumbling on Satoshi’s white paper, Rey started writing smart contracts in 2016, launched an ICO in 2017, developed smart contracts for decentralized identity in 2018, created multiple ERC20 tokens and ERC721 NFTs, and implemented a crypto index fund.

When he’s not working on a crypto project, you will find him traveling, riding his peloton and learning how to kite surf.

Join Us! Job Posts

We are searching for knowledgeable Community Managers to support Sperax Discord and Telegram, helping new users navigate the DeFi landscape, while orienting and supporting the DeFi native with the launch of the Sperax Liquidity Mining Campaign.

If you would like to join the team, please send in a short bio to frida@sperax.io, and if you know any candidates who fit the description, send them our way!

Sperax Openings on Lever

Speraxian of the Month: @SumWin

SumWin joined our team this month and has quickly become a fantastic member of the Sperax community. He’s there for all Speraxians in our Discord and Telegram group and is always friendly and supportive. We’re really grateful for the support that Sumwin provides, and we are proud that he is part of the team!

To become “Speraxian of the Month,’’ all you need to do is be helpful and active on Sperax social media channels, promote Sperax, and answer telegram questions. Basically anything to contribute to growth of the Sperax ecosystem. We will be announcing the Speraxian of the Month on Twitter too, stay tuned!

About Sperax

Sperax is dedicated to benefiting all financial lives with blockchain technology.

Sperax is the open-source development team focused on building software products on the Sperax protocol. With the Sperax token ($SPA) at its core, Sperax has built a crypto-collateralized algorithmic stablecoin, $USDs, and a suite of DeFi apps.

As always, please join our communities!

Sperax USD Twitter | Sperax USD Discord |Medium

Telegram: Sperax $USDs | Korea

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