What Is Sperax Token (SPA)?

The SPA token is the governance token of the Sperax protocol. SPA token holders can stake SPA to gain governance power in the Sperax DAO. SPA claims to be a revenue-sharing partner of Sperax USD (USDs). A portion of the yield generated from USDs collateral is passed back to stakers of SPA, another portion is burned. This aligns incentives between the governors of the protocol, the SPA stakers, and USDs holders. Sperax USD launched USDs in December 2021 and is a yield-automation protocol on Arbitrum. Users can mint USDs, which is designed to be a 100% collateralized stablecoin with other crypto assets like DAI, VST, USDC and Frax. USDs is fully on-chain and generates organic yield for its holders by depositing collateral into various delta-neutral DeFi strategies. The yield is passed back to holders via a gasless rebase, which means that users can access the power of compound interest with no action necessary from the end user.

Sperax USD launched the Demeter protocol in November 2022, a no-code farm launcher on Uniswap V3 and Camelot. Anyone can build their own fully incentivized farm without any coding or technical expertise. Sperax claims that the Demeter protocol is fully audited and permissionless, and serves as a key piece of decentralized infrastructure. Sperax USD launched Gauge, in February 2023, a reward mechanism that emits SPA rewards to USDs trading pairs on Demeter. SPA gauge emits a predetermined amount of SPA each month. veSPA (staked SPA) holders vote to decide how the SPA rewards are distributed across the USDs pools. Any project can convince veSPA voters to drive more emissions toward their farms.

Sperax Protocol has crossed $500K in protocol revenue and recently the Sperax protocol has been awarded a grant of 1.8 ARB tokens by Arbitrum.