Sperax deploys Smart Contract 2.0 to unleash potentials for a mission-driven blockchain

To wrap up 2020, Sperax announced the upgrade of the previous SPA token contract — from a conventional ERC20 one to a brand new version — in efforts to include an upcoming SPA stake mining game, a NFT interface, a migration gadget for transferring assets to the Sperax blockchain, and more. In addition, the new version enhances the performance and security of SPA tokens.

Upgrade Group #1: stake mining game and NFT interface

Receiving the unexpected enthusiasm from the community for testnet V1, Sperax will roll out a stake mining game on SPA before the mainnet is launched. Revolving around the current ERC20 SPA tokens, the game is open to any SPA holder who would like to participate. More details are to be released after the New Year.

In addition, Sperax’s NFT research team has made tremendous progress on developing a Minecraft NFT server project and is about to complete the smart contract development. At this point, the team is adding a new NFT interface to the SPA token contract to facilitate their great efforts.

Henceforth, from a high level, Sperax upgraded the SPA token contract with a package of functions to expand its functionalities and enhance its scalability.

Upgrade Group #2: new migration gadget

While adding new features, like the stake mining game, to our SPA ERC20 contract, the Sperax team kept in mind that its main purpose is to serve as a temporary SPA ledger before the mainnet launch. Hence, besides the new add-ons, the team integrated a group of functions to further enhance the safety and performance of SPA token contract. In particular, a timelock mechanism is added to migrate SPA holders’ assets from SPA ERC20 contract to Sperax blockchain smoothly when the mainnet is launched.

Important reminders for investors:

• Since this upgrade will require a SPA token mapping from the previous contract to the new one, Sperax will pause the current contract and complete the asset mapping on December 31 at 1–4 AM ET. Meanwhile, the CEXs (centralized exchanges) that include SPA trading pairs will pause SPA trading as well. After the mapping is completed, users can use the new contract with all newly added functionalities.
• For users who previously staked SPAs to a DEX (decentralized exchange) or a similar DeFi platform, please redeem your assets back to your wallet before we pause the previous contract and initiate the mapping procedure. Otherwise, your tokens will be lost.
• If you hold SPAs in your wallets, the tokens will be upgraded automatically. No actions will be needed. For token holders who put their tokens in CEXs, CEXs will proceed the upgrade on the users’ behalf.

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.

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