Sperax Monthly Newsletter — March ‘23
SPArtans ⚔ Welcome back to the monthly News
March was a month full of massive wins for the Sperax community! The most notable is the 1.8M ARB allocation during the Arbitrum token generation and airdrop event. Read to learn about the airdrop and traction of USDs, Demeter, and SPA gauges.
SperaxDAO receives 1.8M ARB
This month the Arbitrum Foundation conducted its token generation event. This long-awaited event featured an allocation to Arbitrum projects that have helped grow this flourishing ecosystem. SperaxDAO received an allocation of 1.8M ARB currently valued at over $2,000,000. These tokens will be managed transparently with consultation from the Sperax community token holders.
Gate.io Lists SPA Cross-Margin
This exciting development comes from Gate.io where users can now borrow SPA against collateral. This allows users to go long or short on SPA, increasing SPA trade volume on their exchange. The current volume is already averaging over $1M daily.
Arable X SperaxDAO AMA
Formally announcing our partnership, the Arable team hosted the SperaxDAO team on an AMA. ACRE/SPA, ACRE/USDs, and arUSD/USDs pools will soon be coming to Demeter. Once live, USDs can be listed as collateral to mint arUSD. This lets users loop USDs yield.
On-ramp to USDs with INR
Our newest onramp partner, OnMeta, unlocks the ability to directly onboard from the Indian Rupee accounts.
ARB / USDs Yield Farm
Farmers in the Sperax Ecosystem are enjoying nearly 100% APR paid in ARB tokens. This is sponsored by the Sperax Foundation. Deposits are approaching $200k and the APR is around 100% paid in ARB and SPA. Deposit today at demeter.sperax.io.
USDs listed as collateral for FX trades
Long time partner Handle.Fi listed USDs as collateral on their FX exchange. This means that users can post yield-bearing USDs as collateral for various trades on their exchange. If the trade goes bad, your USDs is used to cover the amount owed.
Trade today at handle.fi
L2D4 Pool Rewards live
SperaxDAO is one of four protocols that are bribing the L2D4 pool. This pool offers deep liquidity to anyone interested in keeping principle in stablecoins while collecting generous rewards from Frax Finance.
This pool is currently paying over 400% APR (in FXS) on $800k of deposits.
SafeYield X SperaxDAO
SAFE+ is a new product coming to Arbitrum built by the SafeYield team. This product uses a custom fee structure to add to the collateral balance of SAFE+. This product is 100% backed by USDs as well. From a combination of SafeYield fees and the USDs auto-yield, SAFE+ could be a high-yield, non-volatile instrument for Arbitrum investors.
SPA Gauge Bribes Pass $55,000
PlutusDAO and SperaxDAO were the first protocols to bribe the SPA Gauge. This is a prime example for new protocols that are learning how to interact with the SPA gauge. Joining Plutus in March were Vela Exchange, Buffer Finance, ArbiRoul Casino, and NFT Earth NFT exchange.
Protocols enjoy reduced selling pressure on their token but pay LPs in the form of SPA instead of their native token. Instead of emitting the token directly to LPs, they are bribing veSPA holders for SPA emissions through the SPA Gauge.
These protocols have enjoyed a boost ratio of 34%. This means that for every $1 of bribes offered to veSPA holders, their desired pool received $1.34 worth of SPA emissions on their pool. Read more about the performance of the SPA gauge system in this blog about Epoch 1–5 Key Stats.
Non-Bribe Revenue Passes $500,000
Governance
SIP-39: Update policy to add Demeter farms to the Sperax Gauge and rewarder — FOR
SIP-38: Introduce Mint Fee for VST and restart minting USDs with VST — FOR
SIP-37: Delegate 500,000 ARB to Summoner DAO to grow the Arbitrum Ecosystem — NO QUORUM
SIP-36: Update redemption policy — FOR
SIP-35: Decentralize and streamline staking reward distribution — FOR
Looking Forward to April
- Revenue dashboard updates to feature bribe
- Savings dashboard for USDs
- Bribes, bribes, bribes
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!
