Sperax Monthly Newsletter — May ‘23
SPArtans ⚔ Welcome back to the monthly News
The month of May has brought opportunities and progress. The Sperax community is at the juncture of bringing new adoption to our core products — USDs and Demeter. USDs had an average Auto-yield of 11.03%, and Demeter crossed $2M total value locked. Read on to learn about the developments.
Demeter Camelot Integration is Live
We are proud to announce the integration of Demeter, Sperax’s farming as a service protocol, with Camelot, a groundbreaking DEX built on Arbitrum. This integration marks a significant milestone in our journey, creating Arbitrum’s first DEX agnostic incentive system.
We believe this integration will unlock tremendous value for our users. Projects and DAOs can now build a farm on top of Camelot v2 pools! Projects using Demeter X Camelot can earn tokens from the SPA Gauge in addition to Grail and xGrail from Camelot.
Camelot farms are nearing $1M in liquidity in about ten days from four new farms. Demeter and Camelot integration will fuel your innovation and drive the growth of the Sperax ecosystem.
New Demeter Farms
We are delighted to announce the launch of four brand-new farms on Demeter. These farms present a fantastic opportunity for our community to further enhance their yield farming strategies and maximize their returns in a secure and decentralized environment.
The new farms are USDs/USDC, SPA/USDs, L2DAO/USDs, and USD+/USDs, all on top of Camelot pools. All these farms are available on the Gauge and are bribes with SPA, L2DAO, and USD+.
User Interface upgrades
Zap is integrated
- Users can use any token in their wallet to invest directly in an LP position over the top 5 UniswapV3 farms available on Demeter.
SPA buy route
- Coinbase added in the buy options for SPA
Frontend updates
- Auto yield calculator made available for USDs holders
- Demeter marketing website was upgraded to include changes from Demeter’s integration with Camelot v2.
- The user votes table in SPA Gauge was upgraded to include voting power used and allocation in percent
- UI upgrades associated with Demeter Camelot Integration
- Stake page per SIP-41
SPA got Listed on Coinbase and Crypto.com
We are thrilled to announce that our native governance token, SPA, has been listed on Coinbase, and, Deposits and withdrawals are enabled on Crypto.com. This listing marks a significant milestone for Sperax and represents a major step forward in expanding the reach and accessibility of our token.
This is a testament to the growing recognition and demand for Sperax’s innovative blockchain solutions. It opens up exciting opportunities for existing community members and new investors to engage with our ecosystem, contributes to its growth, and benefits from the unique features and utilities offered by the SPA token.
“Defi Growth on Arbitrum”
We are thrilled to share the exciting news of a recent collaboration that brought together Sperax, WombeX, GMX, and Saddle in a captivating Twitter Space event. This interactive session served as a knowledge-sharing extravaganza, where experts from these groundbreaking projects joined forces to discuss the future of blockchain, decentralized finance, and the opportunities they present.
USDs, Demeter and Gauge updates
- USDs distributed in Auto-Yield crossed $100K while maintaining an average yield of 11.03% in May.
- Demeter crossed $2M in total assets deposited across 21 active farms.
- Over $100K in SPA and $25K in Bribes were distributed through emissions and Bribes respectively via Gauge maintaining a 4:1 rewards-to-bribe ratio.
- Total SPA tokens staked crossed the 300M mark with over 19% of circulating supply locked.
Governance
- SIP-46 Adding SPA/USDs and USDs/USDC on Gauge and bribe reallocation
- SIP-47 Add rEth-USDs farm to the SPA Gauge
Looking Forward
- Vaultcore contract upgrade
- Demeter-DEX Integrations
- New Farms, Gauges & bribe tokens
- Distribution of Governance power to LPs of USDs and SPA
- USDs decentralization
- Modification and upgradation in the dApp, Demeter, and Gauge frontend
About Us
Sperax USD is a stablecoin and yield automator on Arbitrum. Hold $USDs and earn Auto Yield. Stake $SPA to govern the collateral investment strategy.
Read more at sperax.io and join the Sperax community!
