Sperax Monthly Newsletter | May 2022
May has been a wild month for crypto, and with the Terra Luna crash many investors are facing existential questions about trust, transparency, and safety in the crypto world. As these questions circulate, the Sperax team is more confident than ever about the position of the protocol. Despite bearish market sentiment, Sperax is pushing ahead on an ambitious roadmap, while maintaining a strong community presence in all social channels, and driving a strong case for the value of Sperax stablecoin $USDs and its governance token, $SPA.
<Streetbeat Partnership>
Sperax has partnered with investment app Streetbeat to form the first alliance between a reputable retail investment advisor and DeFi. $USDs is the star product, as Streetbeat users can build a savings-style crypto account to capture a target 11% APY with $USDs.
New users should head to Streetbeat.com for a $5 — $5,000 sign-up bonus. Terms and conditions apply.
Invite a friend, and you and your friend get an additional $5 — $5,000 bonus.
<PlutusDAO Partnership>
PlutusDAO aims to be a governance blackhole for leading protocols on Arbitrum. The protocol has introduced plsAssets, a wrapped form of governance tokens for Arbitrum’s leading players.
On May 28th, Plutus announced that the set of plsAssets will now include plsSPA.
The plsAsset wrapper enables governance tokens to be staked into Plutus, offering stakers multiple layers of yield while also aggregating governance power. Similar to the dynamic between Convex and Curve, Plutus lockers will potentially enjoy bribes in the future, contributing to treasury yield.
The partnership with PlutusDAO provides another locking mechanism for $SPA to mitigate supply growth as PlutusDAO aggressively adds $SPA to their treasury.
The addition of plsSPA will complement the Protocol’s existing offerings: plsDPX and plsJONES.
<Sperax USD is 100% Collateralized>
After uncertainty surrounding algorithmic stablecoins since the Terra Luna crash, the team rapidly scaled up to 100% collateralization for $USDs. While this greatly reduces the reliance on an algorithmic strategy, it also allows for $USDs to deploy even more value to drive Auto-Yield revenue. As the protocol turns to a DAO structure, governance will be able to implement the algorithmic strategy at a marginal 1% annual rate, making $USDs a hybrid stablecoin once again.
veSPA holders will direct Sperax DAO to govern key parameters for reintroducing an algorithmic component to the $USDs strategy. The design aligns incentives for $SPA holders to drive $USDs TVL growth, reinforce peg safety, and utilize algorithmic scaling in the future, which all coincide with increased veSPA staking rewards and $SPA value.
Read more about $USDs collateralization here.
<$USDs TVL Will Rise in 2022>
With the loss of the once largest decentralized stablecoin provider, there is a major opportunity for Sperax USD to emerge as a mighty player for users looking for decentralized, fully collateralized stablecoins.
Not only will $USDs fulfill these needs, it also targets 11% APY Auto-Yield…
These factors have primed $USDs to take up a sizable percentage of existing decentralized stablecoin demand. With some back-of-the-napkin math, it is clear that if $USDs picks up just a small portion of vacated demand after the Terra crash, $USDs TVL will explode, driving value to $USDs and $SPA holders alike!
<DApp Update>
Mint and redeem is live with a 100% collateralization ratio, and the front end of the Sperax DApp has been updated to show Auto-Yield distribution, veSPA staking APY, and TVL in the USDs protocol!
Most importantly, the analytics page has expanded to show even more factors around the health of the protocol, and growth metrics for $USDs and $SPA. Check out the updated analytics page here.
<SPArtan Warrior of the Month: Ceazor>
Sperax is grateful that Ceazor covered the Sperax USD strategy and suite of yield farms on his youtube this month.
Ceazor is a crypto educator, born in the degeneracy of all that are hungry for knowledge, gains, and safu sandwiches. There are many kinds of DeFi sandwiches out there and all are filled with different ingredients. Ceazor’s main ethos is to share any flavors of DeFi and to continue to provide value to see what sandwiches are made of. Ceazor is a firm believer in understanding before doing. It doesn’t have to be a exhautive understanding, but the more the better usually.
For a deeper look at his background and motives, check out his Sandwichery on Youtube, Caezor articles on Medium: Soap, Water, and Gas Money, Corrupting Content, or join him for a chat on Discord.
About Us
Sperax is dedicated to benefiting all financial lives with blockchain technology.
Sperax has built the first Auto-Yield stablecoin, $USDs, to harness DeFi yield with a target 11% APY.
$SPA, the Sperax governance token, rewards stakers who empower Sperax DAO to make $USDs fully decentralized, and 100% collateralized by exogenous, on-chain assets.
The protocol is currently in a growth stage, bridging the gap to crypto for a global user base by offering $USDs on user-friendly platforms.
Read more at sperax.io and join the Sperax community!
