Sperax Monthly Newsletter — April ‘23
SPArtans ⚔ Welcome back to the monthly News
April brought attention. We as a community have the unique opportunity to convert this attention into real adoption of our core products: Demeter and USDs. This month brought an additional $43,812 in revenue and USDs had an average auto yield of 10.72%! Read to learn about the progress this month.
ARB airdrop delivered
Arbitrum Foundation delivered ARB to the DAOs. Sperax received 1.8M ARB valued at approx $3M. This ARB will be used to further USDs liquidity and adoption on Arbitrum.
Camelot X Demeter Announced
Demeter and the SPA gauge were built with the ambition to integrate multiple DEXs. This vision was realized with the integration of Camelot DEX into Demeter. DAOs can utilize Demeter to launch a Camelot yield farm. This farm can be easily added to the SPA gauge. This means that any DAO launching on Camelot and earning xGARIL can also subsidize their liquidity cost by pairing with USDs and getting a SPA gauge.
New Stablecoin Demeter Farm
arUSD/USDs was launched on Demeter.sperax.io. Arable is bribing this pool with ACRE rewards and incentivizing LPs directly with ACRE emissions. VeSPA holders have collected ACRE bribes which earned Arable 31,000 worth of daily SPA emissions. These emissions in addition to the ACRE emissions result in about a 150% APR on 98,000 worth of liquidity.
User interface upgrades
This month the SperaxDAO front-end team didn’t sleep. Two massive upgrades were shipped. Both the homepage and the Bribing interface were given a facelift.
Read this thread on the various improvements made to the homepage and how it’s even easier to mint USDs.
Read this thread on the various improvements made to the bribing interface to encourage more voter participation and DAO bribes.
Alpha Packed AMA with Camelot
Camelot is coming to Demeter! In just a few days, the Camelot integration will be live on Demeter.sperax.io.This was discussed with our friends from PlutusDAO, Saddle Fiance, Lodestar Finance, Overnight.Fi and Layer2DAO! All will be using Demeter in various ways.
Mint USDs with VST
Users can now deposit VST to mint USDs. Mint today at app.sperax.io.
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 50% base APR (in FXS) on $1.13M worth of stablecoin deposits.
SPA Gauge Bribes
Total value of bribes arrived at $37,814 this month which earned about $140k worth of SPA from the gauge thanks to the SPA price increase. Check the weekly vote breakdown here.
These protocols have enjoyed a boost ratio of nearly 5:1. This means that for every $1 of bribes offered to veSPA holders, their desired pool received $5 worth of SPA emissions on their pool. See the current bribe ratio by dividing the value of SPA emitted in each Epoch divided by the value of bribes offered.
Governance
SIP-40: Allocate bribes to ARB-USDs and WETH-USDs farms — QUORUM NOT MET
SIP-41: Proposal to move veSPA from Ethereum to Arbitrum — PASSED
SIP-42: Add arUSD-USDs farm to the SPA Gauge — PASSED
SIP-43: Add L2DAO-USDs farm to the SPA Gauge
SIP-44: Add USD+/USDs farm to the SPA Gauge
SIP-45: Add LODE-USDs farm to the SPA Gauge
Looking Forward to May:
- Revenue dashboard updates to feature bribes
- Camelot integration launch
- Bribes, bribes, bribes
