Decrypt • Nov 29, 23
Bitcoin Mining Could 'Mitigate' Climate Change: Cornell Study
The study found that wind and solar farms could generate millions of dollars in the precommercial phase before they're connected to the grid.
SPA is the governance token of the Sperax ecosystem. Sperax is a DeFi protocol built on Arbitrum that mints Sperax USD - a stablecoin featuring ‘auto-yield’ generation. SPA tokens must be staked in order to participate in the Sperax DAO. Sperax ecosystem is governed by community of SPA stakers or veSPA holders, who make up Sperax DAO.
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.
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Of all the assets on Coinbase, these 12 are the closest to Sperax in market cap.
24 unique individuals are talking about Sperax and it is ranked #481 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Sperax has an average sentiment score of 0.9 out of 5. Finally, Sperax is becoming more newsworthy, with 0 news articles published about Sperax. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly bullish about Sperax. There were 52.24% of tweets with bullish sentiment compared to 1.49% of tweets with a bearish sentiment about Sperax. 46.27% of tweets were neutral about Sperax. These sentiments are based on 67 tweets.
On Reddit, Sperax was mentioned in 0 Reddit posts and there were 0 comments about Sperax. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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0.9 out of 5