Sperax Monthly Newsletter — Feb 2023
SPArtans ⚔ Welcome back to the monthly News
February was a month of firsts within the SperaxDAO community. This month marked the launch of the DEX-agnostic SPA gauge, the first bribes were added to the gauge and a crisis was averted.
USDs circulating supply peaked at 2.5M in Feb with an average Auto-Yield rate of 11.74% APY, let’s look at what else happened this month.
Launch of Multi-DEX SPA Gauges
SperaxDAO core team published the SPA Gauge Beta. The multi-DEX gauge is the first of it’s kind. Instead of a rewards being limited to any one DEX, such as the Curve CRV model, the SPA gauge is DEX agnostic. This means that the SPA guage doesn’t focus on TVL of a DEX but rather the TVL of USDs the stablecoin.
Protocols migrating to Arbitrum is highly encourage to reach out to the Sperax team on Twitter, Discord or TG to use Demeter to amplify your Arbitrum launch.
First Bribes Added
PlutusDAO and SperaxDAO are the first protocols to bribe the SPA Gauge. This provides an example for new protocols who are learning how to interact with the SPA gauge. Plutus provided PLS as bribes for veSPA holders to vote liquidity toward liquidity pools which are critical to the functioning of their product.
- PLS-USDs for PLS liquidity
- plsSPA-SPA for the plsSPA exit pool
Projects such as VELA exchange (VELA, NFT Earth Exchange (NFTE), Buffer Finance (BFR) and more will join the bribing party in March. Buy and stake SPA for veSPA to ensure you can get your share of bribes.
100M SPA locked Forever
Our partners PlutusDAO offer plsSPA: a staked but liquid version of SPA. This token collects the SPA staking rewards while maintaining the ability to swap back to SPA. The amount of SPA deposited into the plsSPA vault passed 100M units this month.
Averting Crisis
On Feb 3 a bug was accidentally triggered by a user. Thanks to the help from community members, the issue was identified, USDs was temporarily paused and has since been restored. Read here for a full report published by the Sperax team.
Governance
SIP-31: Reduce the fee for launching farms with Sperax Demeter protocol
SIP-32: SPA Gauge Starting Budget and Inflation Logic
SIP-33: Redirect SPA from veSPA emission to bribes
SIP-34: SIP-34: SPA Gauge Implementation Proposal
Looking Forward to March
Bribes and UI revamp.
SperaxDAO BD team and community is laser focused on increasing participation of the SPA Gauge with bribes. Expect more focus on this topic on twitter, Medium and AMAs. Expect more bribing revenue streams from protocols seeking SPA emissions.
The UI and product team are almost ready to ship the new USDs dashboard where users can track USDs balance, visualize returns from Auto-Yield and forecast future potential yields.
About Us
Sperax USD is a stablecoin and yield automator on Arbitrum. Hold $USDs and earn Auto-Yield. Stake $SPA to govern the collateral investment strategy.
Read more at sperax.io and join the Sperax community!
