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Sperax Monthly Newsletter | March 2022

Crypto took a sigh of relief this month as regulatory clarity arrived from the US Government.

In the Sperax world, big things keep happening: new $SPA listing on FTX, $USDs auto-yield targets 11%, fiat on-ramp with Transak, and a community of SPArtans ready for more growth!

$USDs Auto-Yield Set at 11% APY

The $USDs auto-yield mechanism went live last week! If you didn’t see your $USDs wallet balance increase, then your $USDs must be at work in the suite of Sperax yield farms. Stay tuned for an update that will facilitate auto-yield on $USDs already deposited to yield farms.

The auto-yield will be automatically distributed every 7–14 days. For now, the protocol will maintain an 11% APY on $USDs. Any yield generated over this target will be stored in the multi-sig for use during periods where collateral returns below 11%. Remember, all you have to do to receive $USDs auto-yield is HODL!

If you don’t have any $USDs, you can’t earn that 11% APY! Head over to Uniswap V3 Arbitrum to get some $SPA and mint $USDs directly at the Sperax Mint Page.

FTX Listing

Sperax is excited to announce that $SPA has been listed on leading global crypto exchange FTX. Spot trading opened for SPA-USD on March 24, 2022 at 2 PM (UTC).

This is an extremely exciting development for the Sperax ecosystem, as FTX will expose more investors to the developments at Sperax through volume trading and accrual of the $SPA token!

See the FTX announcement here.

Analytics & Key Figures

The app home page shows price, supply, TVL, and current yield generated on Curve deposited funds.

After the FTX listing on March 24th, $SPA trading saw all-time high volume due to increased access to $SPA liquidity and hype around the listing.

To date, $SPA has seen 10M net burn, with 71M $SPA locked into staking contracts on the Sperax dapp. With the advent of veSPA, even more $SPA will be locked into Sperax governance for staking rewards!

Additionally, the Sperax Analytics page has been updated, showing detailed history of $USDs TVL (currently over 23m locked and earning yield) along with a daily history of data on protocol TVL, APY earnings, and distribution.

Transak Partnership

Utility and access is vital as Sperax builds global modern money. A partnership with Transak will integrate a fiat on-ramp to the Sperax dApp for $USDs and $SPA purchase via credit, debit card, and bank transfer. The integration will give everyone easier access to auto-yield rewards from hodling $USDs and yield-farming with $SPA!

Read more about the partnership on our Medium and stay tuned for updates to this exciting development!

veSPA Coming Soon!

veSPA is coming, and with the advent of $USDs auto-yield it is clear how important veSPA will be to the Sperax community and ecosystem.

veSPA holders will participate in governance of collateral assets and $USDs APY by direct voting on Collateral Type, Collateral Deployment Strategy, Reserve Fund Management, and Target APY. As custom, other proposals may be brought to the community by interested members of the protocol.

Check out this twitter thread on the Economic Boomerang that will stabilize staking rewards for veSPA holders.

As partnerships advance, the community governance will allocate collective impact and further decentralize Sperax. For more technical details on veSPA, see our Medium article, and stay tuned for updates on veSPA launch.

Track Sperax on Debank!

Sperax now has a profile on Debank.com! Come check out the profile and track all your assets by connecting your non-custodial wallet to Debank.

Sperax Continues to Grow

Further milestones from the original 2022 roadmap have been met. veSPA will go live in the next few weeks, and Transak on-ramping is primed for launch!

Other huge milestones coming soon:

  • Pioneer DAO governance with veSPA
  • Rari fuse for lending and borrowing
  • GMX & TracerDAO partnerships

Weekly AMAs

Our most recent weekly AMA answered questions on the 11% target auto-yield feature that makes $USDs so special. We will continue hosting the weekly AMA with a different theme each week to address community questions and feedback on Discord.

Join the AMA on Wednesday mornings EST.

We are SPArtans!

A naming competition on the Sperax Discord proved that the community loved the name suggested by @PeterTheTerran.

All builders, contributors, hodlers, arbitrageurs, investors, and fans of Sperax and the Sperax ecosystem are now SPArtans, and @PeterTheTerran is our SPArtan Warrior of the Month!

@PeterTheTerran is an Argentine living in Portugal. He was once an advertising producer, but has been full-time in crypto for the past two years. @PeterTheTerran has a lot of fun informing people through social networks about the projects that interest him, and he spends a lot of time in Latin communities. In 2020 he built an account with almost 20k followers on Twitter. He says he became an ultra fan of Sperax because he thinks the project has a huge future!

Share the love with your friends, and bring more SPArtans into the community to grow the Sperax impact and reach in modern global finance.

Join Us! Job Posts

We are hiring an array of positions in New York, Bengaluru, and for those around the world, Remote!

The talent acquisition includes an HR Position and Marketing Lead, as well as Tech Recruiters to fill our engineering needs as Sperax grows.

If you would like to join the team, please check out the Sperax Openings on Lever.

About Sperax

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

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!

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