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Sperax
Sperax
sperax.io

Locations

New York, NY, USA

industry

Blockchain and Crypto · Finance · Information Technology · Software

Size

11-50 employees

Stage

Seed

founded in

2019

The SPA token is the governance token of the Sperax protocol. SPA token holders can benefit by staking SPA to gain governance power in the Sperax DAO. SPA is also a revenue-sharing partner of Sperax USD (USDs). A portion of the yield generated from USDs collateral is passed back to stakers of SPA, another portion is burned. This aligns incentives between the governors of the protocol, the SPA stakers, and USDs holders. Sperax USD launched USDs in December 2021 and is the leading stablecoin yield-automation protocol on Arbitrum. Users can mint USDs, a 100% collateralized stablecoin with other crypto assets like DAI, VST, USDC and Frax. USDs is fully on-chain and generates organic yield for its holders by depositing collateral into various delta-neutral DeFi strategies. The yield is passed back to holders via a gasless rebase, unlocking the power of compound interest with no action necessary from the end user. Sperax USD launched the Demeter protocol in November 2022, a no-code farm launcher on Uniswap V3 and Camelot. Anyone can build their own fully incentivized farm without any coding or technical expertise. The Demeter protocol is fully audited and permissionless, serving as a key piece of decentralized infrastructure. Sperax USD launched Gauge, in February 2023, a reward mechanism that emits SPA rewards to USDs trading pairs on Demeter. SPA gauge emits a predetermined amount of SPA each month. veSPA (staked SPA) holders vote to decide how the SPA rewards are distributed across the USDs pools. Any project can bribe veSPA voters to drive more emissions toward their farms. Sperax Protocol has crossed $500K in protocol revenue and recently the Sperax protocol has been awarded a grant of 1.8M ARB tokens by Arbitrum. SperaxUSD is the leading stablecoin yield-automation protocol on Arbitrum. USDs, a 100% collateralized stablecoin, is fully on-chain and generated organice yield for its holders. USDs can be minted using other stablecoin assets like USDC, FRAX, DAI, and VST, which are deposited into various delta-neutral Defi strategies. The Demeter protocol is a no-code farm launcher on top of UniswapV3 and Camelot. Anyone can build their own fully incentivized farm without any coding or technical expertise. The Demeter protocol is fully audited and permissionless. It is integrated with Gauge, a reward mechanism that emits SPA rewards USDs trading pairs in Demeter.

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