Sperax Monthly Newsletter | October 2021
We hope you had a great Uptober.
DeFi 2.0 is here, and SperaxUSD ($USDs) is right on time. Bull or bear, you can sleep comfy knowing native yield on $USDs is coming soon.
This month: partnerships abound, winners celebrate, and Mainnet launch gets closer every day.
Sperax Play XP Bonus Update
We added 26K new users in October.
We updated XP Bonuses on Sperax Play, allowing us to open Marketplace soon, where users can bid on NFTs and enter raffles using XP.
- Added Referral Bonus: 30 XP for every new invitee who starts earning XP.
- Updated Active Team Bonus: 0.1 XP/h for every invitee actively earning with you.
- Removed Basic Team Bonus: Basic Computing Power remains 1 XP/hr for each 24 hour earnings cycle.
You must update Sperax Play to continue earning XP.
SperaxUSD Looks towards Mainnet
SperaxUSD ($USDs) is unique and because of the novel structure of $USDs, we are trailblazing through unknown territory. We will submit our $USDs contracts for final audit in early November. Meanwhile, we plan to deploy a version of $USDs on testnet and release it to the public to get feedback on the UI.
Liquidity Mining Update
We are working on our liquidity mining contract integrations on Kovan testnet. We will launch Liquidity Mining as soon as we submit $USDs contracts for a final audit. Right now we target a mid-November launch on Arbitrum for our SPA/ ETH pair.
Read more about Sperax liquidity mining.
Multi-Sig Announcement and Sperax Decentralization
In our path to full decentralization, we are implementing a multi-sig in preparation to transfer treasury ownership to the DAO.
Below is a brief run-through of the next steps towards decentralization:
- Move community funds to wallets managed by multi-sig
- Add time lock based on the proposed vesting schedule
- Add protocol upgrade delay
- Burn admin keys and transfer ownership to governance contracts.
Read the blog post for more details and updated tokenomics.
Harmony Proposal: $1.2M of SPA
Sperax Research is actively working on expanding SperaxUSD across the Metaverse immediately after launch. To do this, we are working closely with other blockchain ecosystems to incentivize $USDs liquidity. After launch, Sperax will be allocating SPA rewards to alternative layer 1 blockchains, layer 2 blockchains, and partner dApps. We are in active negotiation with multiple parties to match liquidity incentives to deploy $USDs on their product.
Our first proposal is to allocate $1.2M SPA to Harmony blockchain. This would be matched with $1.2M ONE by the Harmony DAO. Please weigh in on this discussion here.
We Love Community Check-Ins
This month we had the opportunity to chat with the community twice. Our first AMA focused on our upcoming liquidity mining campaign and protocol launch. We were even retweeted by Arbitrum News!
We also hosted an AMA with Sperax Play. The whole community is so excited for product updates in the app and with the launch of Sperax USD on Mainnet. We hope to see you at our community check-ins next month.
Join Us! Job Posts
We are searching for a Full Stack Senior Software Engineer to help us grow even faster.
If you would like to join the team, please send in an application to email@example.com, and if you know any candidates who fit the description, send them our way!
Speraxian of the Month: Nicholas Resendez
Nicholas Resendez is the Speraxian of the Month! Nicholas is an internet entrepreneur, developer and security researcher, providing security research to Apple, Microsoft, AT&T and U.S Department of Defense. He attended University of Wisconsin–Milwaukee, where he studied information technology and marketing. He holds a real-estate license.
Nicholas is currently building a DAO for his freelancing platform, Grindez.com, and has been a contributing writer for Hackernoon and Entrepreneur magazine. Nicholas has been a friend of Sperax for a while now, and his upcoming work will feature our unique stablecoin, $USDs. If anyone would like to join a fun and exciting project, his DMs are open!
To become “Speraxian of the Month,’’ all you need to do is be helpful and active on Sperax social media channels, promote Sperax, and answer telegram questions. Basically anything to contribute to growth of the Sperax ecosystem. We will be announcing the Speraxian of the Month on Twitter too, stay tuned!
Sperax is dedicated to benefiting all financial lives with blockchain technology.
Sperax builds modern money with blockchain technology. With the Sperax token ($SPA) at its core, Sperax builds a crypto-collateralized algorithmic stablecoin, $USDs, and a suite of DeFi apps including a cloud earning mobile app, Sperax Play.
As always, please join our communities!