Sperax October Monthly Newsletter

Demeter is launching Nov 14!

October marked another month of heads down building in preparation for the launch of Demeter protocol. The Sperax DAO, which includes community members and Sperax core team, pushed 3 new proposals through the forum and Snapshot this month. Lean about the SIPss and other key highlights from October below.

Demeter Launch partners

In case you missed it, in October SIP-17: Demeter Partners for Launch — was approved. This was officially confirmed in the Demeter Genesis Blog.

GMX — Defi’s leading decentralized perpetuals trading platform

The GMX-USDs pool will be incentivized with $5k worth of GMX a week for 6 weeks. Emissions may be adjusted by GMX for the following weeks depending on TVL in the pool. This contribution will be matched with SPA.

PlutusDAO — Arbitrum’s governance black hole

PLS-USDs pool will be incentivized with 14,000 (~$7k) PLS a month for 3 months. This contribution will be matched with SPA.

Saddle Finance — Low slippage swap DEX

SDL-USDs pool will be incentivized with 333,333 (~$5k) SDL a month for 3 months. This contribution will be matched with SPA.

Layer2DAO — Largest L2 native DAO

L2DAO-USDs pool will be incentivized with 400k (~$3.5k) L2DAO a month for 3 months. This contribution will be matched with SPA.

VELA — Promising perpetuals Exchange

VELA-USDs pool will be incentivized with 20k VELA ($12,000) a month for 3 months. This contribution will be matched with SPA pending SIP-18 passing.

New DAOs can apply for matching rewards via SIP.

PlsSPA Vault

  • The Plutus partnership went live with over 60M SPA being locked forever

Risk Management

  • Risk Management structure for collateral took a step forward with a max cap being put on VST collateral.
  • SIP-15: Apply Max Cap to VST — This is a step towards a more robust collateral risk management structure.
  • SIP-16: Add Saddle Exchange USDC-FRAX-BP Strategy — Additional collateral strategy to prepare for Demeter launch and increase in USDs TVL.

Gauge Control

  • Sperax deployed their voting power on the Saddle gauge to help reduce SPA emissions. Sperax controls ~5% of the Saddle gauge.

Exchange Listings

  • SPA was listed on Bitrue crypto currency exchange, with direct Arbitrum withdrawals.
  • Details

New Features

  • The SPA Buyback and TVL Booster was implemented and sold out in 20 minutes showing great community interest in this feature.

Looking Forward to November:

Now that the Demeter Genesis cohort has been announced, the full product launch is in full effect. Demeter front end will be enabled on November 14. Further partnerships and integrations are in the works, stay tuned for next month’s updates!

About Us

Sperax USD is a stablecoin, yield automator and liquidity manager on Arbitrum. Hold $USDs and earn Auto-Yield. Stake $SPA to govern the collateral investment strategy. Use #Demeter to manage DEX liquidity.

Read more at sperax.io and join the Sperax community!

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