Hello Nutshells,
If you are interested in exploring the world of DEFI, it can be helpful to have a basic understanding of what it means.
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DeFi, short for Decentralized Finance, refers to a revolutionary movement in the financial industry that leverages blockchain technology and smart contracts to create open and permissionless financial products and services.
It aims to recreate traditional financial instruments like lending, borrowing, trading, and more in a decentralized and automated manner, removing the need for intermediaries like banks or brokers.
Concerning that, I want to introduce you to a platform that does that and it’s calledSPERAX.
- What is SPERAX?
- Sperax USD
- Demeter
- Tokenomics
- Future Plans
Curious about Sperax?
At the heart of Sperax’s vision is the aspiration to create a borderless, frictionless, and inclusive financial ecosystem.
The platform achieves this through a suite of cutting-edge protocols and tools that offer a range of benefits to both developers and users.
Sperax USD (a stablecoin with Auto-Yield) and Demeter (a multi-DEX liquidity manager).
It is your passport to an 11% weekly Auto-Yield on average, with no staking or claiming needed.
It’s like magic, thanks to clever strategies and a gasless distribution system.
The platform uses two tokens — USDs (stablecoin) and SPA (governance and value accrual token).
✨How to Earn inSperax USD?
There are 3 ways to earn using Sperax USD.
1️⃣Hold USDs.
Just by holding USDs, you can earn up to 11% in auto-yield. You don’t have to do anything. You just have to hold it. Pretty simple.
2️⃣Stake SPA
When you stake SPA tokens, you can get 2 types of staking rewards —
(1) staking rewards from buyback and
(2) bribes — when voting on SPA Gauge.
If users do not vote — they still have staking rewards (1).
The longer you hold your stake, the greater your reward rate and influence in voting!
Also, Participate in governance discussions onSperax Forumand cast your vote onSperax Snapshoton Sperax Improvement Proposals (SIPs).
3️⃣Meet Demeter (Farming)
Demeter, The friendly liquidity manager.
It joins forces with places like Camelot and Uniswap to make liquidity farming a breeze.
But, it will be connected to more DEXs soon.
DAOs and users alike benefit, with increased efficiency and bonus rewards. It’s easy-peasy!
✨What can you further do inDemeter?
There are many things Demeter brings to the world of Defi.
1️⃣Create Farm Strategies of your choice
Easily deploy a farm strategy using Demeter, Sperax’s farming-as-a-service infrastructure.
2️⃣Easily Manage strategies that you create
3️⃣Provide liquidity onDemeterand get incentives
Sperax has one token called SPA. The main functionality is on Arbitrum.
SPA is the value accrual and governance token for the Sperax ecosystem
MAIN SPA token address (Arbitrum): 0x5575552988A3A80504bBaeB1311674fCFd40aD4B
SPA token address (Ethereum): 0xb4a3b0faf0ab53df58001804dda5bfc6a3d59008
Take note that a Token on Ethereum exists, but you can’t do anything with it but transfer.
- Circulating Supply of 1.661 B
- Total supply of 4.611 B
You can check analytics here:https://app.sperax.io/analytics
You can buy SPA at the following exchanges or directly swap atSperax DAPP.
As Sperax Finance enters the second half of its journey, the company maintains a steadfast focus on enhancing the autonomy of the SperaxUSD protocol and driving the adoption of USDs.
The roadmap includes decentralizing crucial functions, managing SPA emissions, and introducing innovative features.
🌟 Decentralization of SperaxUSD 🌟
Sperax Finance is in the process of upgrading its smart contract architecture to decentralize functions previously managed centrally.
This shift empowers users by enabling them to deposit, withdraw collateral, harvest yield-farmed tokens, and exchange tokens seamlessly.
The introduction of a new dripper contract and the distribution of auto-yield to eligible addresses are part of this upgrade process.
Rigorous testing, security audits, and eventual deployment on the Arbitrum mainnet are planned.
🌐 Managing SPA Emissions and Sell Pressure 🌐
The company is pursuing an optimized and systematic approach to managing SPA token emissions.
This strategy involves reducing liquid SPA emissions and employing other tokens to incentivize liquidity.
The overarching goal is to ensure stability and drive the adoption of USDs across the ecosystem.
🚀 Growing USDs Adoption 🚀
Sperax Finance is introducing a USDs CDP, allowing users to mint USDs against approved collaterals.
This initiative enhances the user experience within the Arbitrum ecosystem and is expected to drive demand for USDs.
The Growth Farms campaign aims to boost the circulation and liquidity of USDs, featuring incentives and benefits that enhance trading experiences and foster a competitive advantage.
You can read more of Sperax’sRoadmap for 2023 here.
These dynamic developments underscore Sperax Finance’s dedication to creating a robust, user-friendly, and thriving DeFi ecosystem.
Sperax’s innovative approach, commitment to decentralization, and user-centric design position it as a pivotal player in the DeFi space.
As blockchain technology continues to revolutionize traditional financial systems, Sperax’s contributions are shaping a more inclusive and accessible future of finance.
With a dynamic roadmap that emphasizes security, growth, and user empowerment, Sperax is poised to unlock new horizons in the world of decentralized finance.
As we embark on this exciting journey, keep an eye on Sperax and its ongoing pursuit of reimagining the financial landscape for generations to come.
- Follow Sperax’sTwitter, joinDiscordandTelegram, and subscribe toSubstack.
- Check theSperax siteand read theDocs
#SperaxCreator
I hope you enjoyed reading this one.
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