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Sperax Multi-Sig: The Road to Decentralization

Sperax is just weeks away from the launch of SperaxUSD, the decentralized stablecoin on Arbitrum that pays you yield!

In preparation for launch, we are transferring the SPA reserve into time-locked, multi-signature wallets. This will further secure the Sperax protocol, laying the groundwork for a fully decentralized future.

What are our goals with decentralization?

Decentralization is a spectrum, and Sperax has begun the process towards full decentralization. Ultimately, the SperaxUSD protocol has been designed to resist any consolidated control by powerful interests, maintaining an ethos of transparency, dilution of power, and censorship resistance.

Why Decentralization?

The future of Web3 is on-chain, transparent, and fully decentralized. As this novel financial system continues to grow more impactful and valuable, Web3 is subject to capture by powerful interests who aim to control this value. Hence, we are sculpting SperaxUSD so that the protocol’s value will never be centrally captured. One essential component to these aims is to implement multi-sig.

DAO Design

As part of our path towards decentralization we plan to implement a DAO that uses SPA as a governance token for the protocol. This will enable users of the protocol to have a say in its design, growth, ecosystem and community.

What is a multi-sig?

A multi-sig wallet requires multiple parties to approve or sign for any action taken by that wallet. Sperax will use a multi-sig to hold community funds. This removes the risk of having just one key managing community funds. As Sperax moves towards absolute decentralization these admin keys will be burned, and control of the protocol will be turned over to the community.

What benefits does a multi-sig provide?

The Sperax team is fully public, to establish trust in the early days of the protocol. Soon, decisions about the protocol will be fully established via protocol code and DAO structure. With this foundation, Sperax will enable governance power for token holders, eventually removing the multi-sig entirely from the governance process.

Time Lock Details

We have not yet transferred tokens to multi-sig wallets except for Private Sale.

Tokens: Yes, the tokens are locked in time locked contracts according to their vesting schedule.

Protocol Upgrades: No, the protocol does not have any time locks for upgrades. This will come with the next phase of decentralization after Sperax USD launch.


Allocation of SPA from the private sale (15% of total supply) has begun under a strict vesting schedule. Vesting for the team and advisors (10% of total supply) vests linearly over 2 years with a 6-month cliff. Foundation funds (25% of total supply) are used to make markets in the early stages, and for future protocol development. The SPA treasury will vest linearly over a 4-year time-lock, beginning from the launch date of governance protocol.

Next Steps Towards Decentralization

1. Move funds to wallets managed by multi-sig

2. Add time lock based on the proposed vesting schedule

3. Add protocol upgrade delay

4. Burn admin keys and transfer ownership to governance contracts

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 including a cloud earning mobile app, Sperax Play.

As always, please join our communities!

Sperax USD Twitter| Sperax Play Twitter |Sperax USD Discord

Sperax $USDs Telegram| Sperax Play Telegram | Telegram Korea




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