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Sperax Monthly Newsletter March 2021

Hi everyone,

I am Susu Pu, Partner of Research, sharing all the exciting updates over the past month at Sperax.

Spring is finally here. So it sweeps through in crypto. Sperax, meanwhile, has been striving to be at the forefront of this fast-moving industry. In March, both our technical research (i.e.stablecoin, derivatives, Sperax Blockchain testnet, and more) and community expansion (liquidity mining, etc.) have developed as scheduled.

Make sure you read until the end of the newsletter to keep up with Sperax!

In the past month on USDs, we finalized:

  1. the liquidation and swap fee structure to algorithmically adjust the minting fee and burning fee based on the in-flow and out-flow of USDs;
  2. the optimized withdrawal mechanism, where users can customize their withdrawal options at the lowest cost possible;
  3. a mechanism to dynamically change Chi and minimize the USDs’ volatility (Chi: the proportion of weights between algorithmic components v. cryptocurrency collaterals);
  4. yield aggregation. To ensure stable interests for USDs adopters, we will first use an external yield aggregator (yearn.finance) and build our own in the future.

We will publish the white paper and deploy USDs on the Kovan Ethereum testnet in the coming months.

Adding a derivative protocol in our future DeFi product.

Led by Susu, Sperax derivatives will differentiate itself from others with a more capital-efficient collateral ratio, larger liquidity for mass adoption, a better-designed pricing formula, and a broader range of trading choices. The product will allow USDs as collateral to further bootstrap the versatility of Sperax ecosystem.

Stay tuned!

The SperaxChain Testnet V2 Econ Model upgrades

  1. Multi-stage: Instead of a single stage (i.e. system policy/parameters → stake → reward), the upgraded model considers multiple stages (i.e. system policy/parameters → stake → reward → new system policy/parameters → stake → reward → …). As a result, the SPA price becomes endogenous, along with the number of newly-minted SPAs and tax rate, reflecting the real-time demand and supply of the market.

2. Continuous staking range: In the previous model, the player had to choose either 0 or 1 to stake (either all tokens or none). In the new model, the choice is continuous (the player can choose any number between zero and the amount he/she owns).

3. Multi-player: a player’s reward function depends on both her staking and other players’.

The second round of our airdrop trilogy took place on March 17th and all rewards had been issued by March 23rd. In this round, we airdropped 1,767,803 SPAs in total. See below for transaction hashes:

  1. 0x4b657b97a81fa902c71f91333430faf84babafd55b1eb0189c26f7d190309be5
  2. 0xb3bec470505e56a7b9ef37b48d0180cd669ce254fb73a8e56d4685a156360c7b
  3. 0x19714ca64b79174946cf8d29510b9b3596b55296e07be2ef6518fd1ba755f80d
  4. 0x743f5a7911013d2cd1f2322a9719346bdd8bda6a871e7d26bd9e754b992ae522

Officially adding liquidity to Uniswap next month.

All smart contracts have been completed and are being tested on our local machines and the Ethereum Kovan testnet. Meanwhile, an interactive web page is under way for people to participate easily without untangling the tech details. See below for a sneak peek of the codes.

Rolling out LIFTED 2nd phase with Oasis Protocol

Co-hosted with Polyient Capital, LIFTED Phase I — NFT and DeFi — received over 110 applications from 10+ countries, ranging from NFT educational workshops to multi-chain NFT minting protocols.

Partnering with Oasis Protocol, LIFTED phase II applications will be accepted April 10th — May 31st, featuring stablecoins.

If you share the mission to empower women in the space, please email alec@sperax.io. We welcome grants contributions, media partners, and advisors.

New Team Members: Professor Di Maggio

Harvard Business School Professor Marco Di Maggio joined Sperax as an economic researcher. Prior to Sperax, he was a core researcher at Terra. At Sperax, Di Maggio will collaborate with our top researchers in the finishing, launch, and further development of USDs and BDLS consensus protocol. Read the full press release here. Learn more about him on the Sperax team page.

Speraxian of the Month: Alzakyy

As the Sperax community grows, we want to acknowledge a special member, Alzakyy, for his loyalty and participation in Sperax Discord. To become “Speraxian of the Month’’. all you have to do is be defend Sperax on social media and answer telegram community questions.

💗 We’ll see you next month, and take care.

About Sperax

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

Sperax builds modern money with blockchain technology. With the Sperax token ($SPA) at its core, Sperax builds a crypto-collateralized algorithmic stablecoin, $USDs, and a suite of DeFi apps.

As always, please join our communities!

Sperax USD Twitter |Sperax USD Discord

Sperax $USDs Telegram | Telegram Korea

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