UPDATE: Budget Extended For Sperax Liquidity Mining!
To launch USDs, deep liquidity of $SPA is required so market participants are offered a fair price for $SPA when using arbitrage to bring USDs back to the $1 peg.
UPDATE: $SPA/$USDs Pool 2 Budget Refuel!
Since the original budget of 15m $SPA was claimed in 6 hours, we plan to refill the $SPA allocation by popular demand.
Read about the updated farming APR here.
Check out the Sperax dApp and farms.
We have incentivized $USDs pairs so users can use $USDs as a currency without liquidity challenges. This will not only make Sperax USD protocol usable, but also distribute governance power to the community in a decentralized, democratic way. We are launching this campaign following the conclusion of our recent financing round led by Alameda Research, Amber Group, and more.
Please note that lockup periods introduce bonuses from 1.5x-2.5x on liquidity deposited for various periods determined by the pool, and by the lockup period.
The budget is a rolling budget, and will be offered through a dynamic schedule.
The first farm will open at 10% of the total budget for LM incentives.
When 90% of the initial allocation is filled, the next farm will unlock, allowing new LPs to earn SPA rewards.
The budget for second and consequent farms will allocate 10% of the Total Budget. New Farms will be launched until we have exhausted the Total Budget allocated. If there is less interest in the farms, Sperax will keep extra SPA in the treasury for future incentives.
Participants who do not choose the Lockup Option are not guaranteed any rewards. If the SPA budget is exhausted, ‘No Lockup’ participants will not earn rewards.
Farm 1: Arbitrum Uniswap V3
Initial Budget: 10m SPA
Total Budget: 100m SPA
6 Month Campaign
No Lockup: 15% Base APR
7 day lockup: 1.07x, 16% APR
30 day lockup: 1.2x, 18% APR
90 day lockup: 1.5x, 25% APR
150 day lockup: 2x, 30% APR
F̶a̶r̶m̶ ̶2̶:̶ ̶A̶r̶b̶i̶t̶r̶u̶m̶ ̶U̶n̶i̶s̶w̶a̶p̶ ̶V̶3̶
Total Budget: 150m SPA
̶I̶n̶i̶t̶i̶a̶l̶ ̶B̶u̶d̶g̶e̶t̶:̶ ̶1̶5̶m̶ ̶S̶P̶A̶
The Initial Budget has been claimed,
please see Farm 3 for updated $SPA/$USDs figures.
No Lockup: 100% Base APR
7 day lockup: 1.1x, 110% APR
30 day lockup: 1.5x, 150% APR
90 day lockup: 2x, 200% APR
150 day lockup: 2.5x, 250% APR
Farm 3: Arbitrum Uniswap V3
$SPA/$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
Once farms go live, users will be able to calculate APR and potential ROI on the Sperax DApp LM calculator.
Check out this tutorial on using the Sperax Yield Farms:
Why is Sperax offering yield farming rewards?
- To mitigate slippage costs for buyers and sellers, minimizing transaction costs
- To ensure adequate liquidity for arbitrage market participants
- To distribute $SPA tokens in a democratic, permissionless, and transparent capacity to the Sperax community
- To distribute $SPA tokens to those who contribute key resources to the Sperax ecosystem
What are the benefits of being a Sperax Liquidity Provider?
- Fixed rate returns — LP’s can forecast expected returns thanks to locking in APR in $SPA terms. LP’s can either sell $SPA for guaranteed returns, or hold $SPA for a potential greater return in exchange for volatility risk
- Stablecoin pool — participate in yield farming without subject to volatility of underlying assets, or the risk of impermanent loss
- Trading fees accumulated in the pool relative to LP’s share
Participation Is Limited
Deposits to these liquidity pools are first come first serve. Once the budget is reserved by current participants, the protocol will stop accepting new LP’s. Once the budget is reserved, LP’s will only earn trading fees. If all SPA is reserved, LP’s will have to wait for a new farm to launch at a future date.
Sperax is dedicated to benefiting all financial lives with blockchain technology.
Sperax is the open-source development team focused on building software products on the Sperax protocol. With the Sperax token ($SPA) at its core, Sperax has built the first auto-yield stablecoin, $USDs, and a suite of DeFi apps.
As always, please join our communities!