Spectrum Protocol (SPEC) seeks to be a creative, decentralized yield optimizer forum that permits traders to earn compound yield on crypto assets farming. Spectrum Protocol aims to automatically maximize rewards from different liquidity pools (LPs) and additional yield farming products in the Terra ecosystem with varying strategies that are investment assured and are governed by smart contracts. For Spectrum Protocol, security is said to be the top priority. Alongside consultants and third-party auditors, the platform has claimed to have taken significant action in creating a safe and trustworthy protocol. All the smart contracts, balances, and web app codes are publicly obtainable and checkable.

The Spectrum Protocol platform seeks to offer vaults to deliver liquidity or stake the crypto tokens. Traders can choose an auto-compound investment strategy, so the vault automatically increases the deposited amount of token by seeking to compound the rewards of yield farming back to the initially deposited LPs or auto-stake process. The vault seeks to automatically stake rewards to the individual governance stake to increase the reward amount and develop further. Spectrum is an entirely decentralized autonomous organization (DAO). There is no favored access, and all changes are made via voting. People can follow changes and be aware of modifications. Any SPEC holder can develop proposals, and SPEC stakers can vote.

SPEC token is native to the Spectrum Protocol platform. SPEC has a development origin token of 9%, which is 3,600,000 SPEC of the total token supply to manage the platform. However, developers get fewer votes in the long run, and the community holds power to choose the platform's direction. SPEC tokens are minted for three years which is 2.5 SPEC per block, 75% (30,000,000 SPEC) to the community, and 16% (6,400,000 SPEC) to Warchest. Warchest is used to spend operation costs, and the community distributes to Spectrum vaults.

The Spectrum Protocol platform was launched on July 1, 2021. The platform launched its native token known as SPEC on the same day. On August 5, 2021, Spectrum Protocol found the Anchor vault. On August 17, 2021, it found another vault named Pylon. The platform got its smart contracts audited by Halborn.