Sperax 2022 Roadmap Part 2
What has Sperax achieved since Roadmap Part 1?
Single Sided $SPA Farming ✅
Tokenomics (veSPA) Upgrade ✅
Arbitrum DEX liquidity ✅
Arbitrum pegged AMM liquidity✅
Data Dashboards ✅
On-Ramp Partners ✅
Auto-Yield Stabilizer ✅
DeFi Perpetuals Partnership 🔄
Collateral Diversification 🔄
Sperax is dedicated to delivering our mission.
How are we responding to this new market?
Since the Luna unraveling and crypto market crash, the Sperax team has adapted to maintain the health of the protocol. The core team relentlessly focuses on resilience of the $1 USDs peg while increasing the TVL of the protocol to drive cash flow to staked SPA. Despite this bear market, the team continues to build and has delivered a number of important product updates in the past 6 weeks.
- 100% Collateral Ratio: Re-opened minting & redeeming of $USDs with a new, fully backed economic model.
- Deepened SPA Liquidity with SPA/USDs Farm: The farm is live! This is an important milestone, as it will increase demand for USDs, absorb SPA emissions, and dampen SPA selling pressure during the bear market. Read more about the farm here.
- Infrastructure Partnerships: SPA is the easiest altcoin to get on Arbitrum! Collaboration with KuCoin, MEXC Global, and Gate.io offer SPA withdrawal direct to Arbitrum. Get $USDs with credit card purchase or bank transfer on Transak. With both methods, users skip the bridging process and 8 day delay to L1.
- Marketing Website Overhaul: The website now focuses on how USDs works and how the product benefits users and partners.
- Dapp UI Upgrades: Ultimately, Sperax is focused on users first, which is why we prioritize simplicity when building our user interface. We make crypto easy with a user-friendly, all-in-one UI. As users request change, the design team will continue to adapt. Tweet thread about this.
So… what’s next for the SPArtan Community?
- Decentralization is a key growth requirement in the next quarter. The team plans to:
- Review all manual actions performed by the team and create a plan to decentralize those actions.
- Introduce off chain Governance in avenues like forums, snapshots etc. to make sure that the community has a strong voice until the DAO is live.
- Launch DAO: Control key protocol parameters such as collateral type, collateral deployment strategy, target auto-yield APY, protocol fees, revenue split with SPA holders, algorithmic ratio and algorithmic decay rate. The Sperax team serves the community as analysts and facilitators to help the community make key decisions.
2. Update Redemption Breakdown Data
Present slippage and customize token redemption details such as type of token and weight of token.
3. Diversify USDs Collateral
Users can mint USDs using the trusted stablecoin of preference. New collateral types offer the protocol new yield generation strategies and diversification benefits so the protocol isn’t overexposed to just one flavor of stablecoin. More yield generation funds auto-yield and increases SPA buybacks.
4. Open USDs Factory Pool Contract
With the permissionless contracts, users can easily spin up incentivized pools for their governance token, DeFi product or NFT. The benefit of using USDs instead of USDC is that all factory pool participants can earn rewards from the SPA gauge!
Control key parameters like budget, fixed/variable APR, duration, whitelist etc.
5. Deployment of Collateral to New Strategies:
USDs collateral will be redeployed using multiple strategies (Curve, Aave, etc) to continue generating organic yield for USDs holders. The Sperax team continually researches and develops new yield strategies to find the best yield for USDs holders.
Deploying the collateral is central to the growth of USDs. Not only does collateral yield support the target 11% Auto-Yield for USDs, this organic yield supports SPA buyback and rewards veSPA stakers with the 50% revenue split.
6. SPA Gauge
Protocols seed liquidity against USDs to earn SPA emissions.
Protocols or users with veSPA balances control which USDs factory pools get additional SPA incentives. Protocols can bribe veSPA holders to vote more SPA rewards from the gauge to the desired pair.
We anticipate protocols and whales accumulating SPA to control the gauge. This happened with CRV and CVX being purchased by major stablecoin protocols to redirect CRV emissions to support liquidity of their stablecoins on Curve.
7. USDs multi chain deployment
Sperax team will present a proposal for DAO approval to allow for cross-chain minting and redeeming of USDs. For example: minting $USDs on Arbitrum, and redeeming on Avalanche. This model will feature a non-custody bridge model. This way the protocol will remain censorship resistant and decentralized, but will take significant research to design the architecture.
The only way into the future is for Sperax to keep building seamless, value-driven, transparent money for individuals and institutions alike. Users looking to earn should check out our yield farms, and the sweet guides on how to use them, and interested partners should fill out this form.
Sperax is dedicated to benefiting all financial lives with blockchain technology.
Sperax has built the first Auto-Yield stablecoin, $USDs, to harness DeFi yield with a target 11% APY.
$SPA, the Sperax governance token, rewards stakers who empower Sperax DAO to make $USDs fully decentralized, and 100% collateralized by exogenous, on-chain assets.
The protocol is currently in a growth stage, bridging the gap to crypto for a global user base by offering $USDs on user-friendly platforms.
Read more at sperax.io and join the Sperax community!