{"id":"sperax-usds","version":1,"language":"en","title":"Sperax (USDs)","hidden":false,"content":"**Sperax** is a [DeFi](https://iq.wiki/wiki/defi) ecosystem focused on simplifying [decentralized finance](https://iq.wiki/wiki/defi) for users. Its products, including the Sperax USD [stablecoin](https://iq.wiki/wiki/stablecoin) and the Demeter protocol, offer accessible yield-generating opportunities without the typical complexities of [DeFi](https://iq.wiki/wiki/defi). The platform incorporates automation and security to help users optimize returns while reducing risks, with governance handled through its native token, SPA. [\\[1\\]](#cite-id-do08etxyn18)  \n  \n# Overview  \n  \nSperax is a [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) platform that simplifies user access to yield generation and [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) management. It offers a suite of products, including the USDs [stablecoin](https://iq.wiki/wiki/stablecoin), which provides auto-yield without requiring user actions like [staking](https://iq.wiki/wiki/staking), and the Demeter protocol allows [DAOs](https://iq.wiki/wiki/dao) to launch and manage [decentralized exchange](https://iq.wiki/wiki/decentralized-exchange) [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) easily. Sperax utilizes a governance system driven by its native token, SPA, enabling the community to influence protocol decisions and parameters. The platform aims to balance automation, security, and scalability in its [DeFi](https://iq.wiki/wiki/defi) offerings. [\\[2\\]](#cite-id-59wgzkexnkq) $$widget0 [YOUTUBE@VID](qpNPt7EcrU8)$$  \n  \n# Products  \n  \n## Sperax USD (USDs)  \n  \nSperax USD (USDs) is a [stablecoin](https://iq.wiki/wiki/stablecoin) on the [Arbitrum](https://iq.wiki/wiki/arbitrum) network that generates auto-yield without requiring user actions like [staking](https://iq.wiki/wiki/staking) or claiming rewards. The goal is to enable USDs across major [blockchain](https://iq.wiki/wiki/blockchain) platforms through interoperability. Users holding USDs automatically earn yield; no [gas](https://iq.wiki/wiki/gas) fees are needed to claim it. The [stablecoin](https://iq.wiki/wiki/stablecoin) operates on [Arbitrum](https://iq.wiki/wiki/arbitrum) for lower transaction costs and is fully backed by a basket of whitelisted [crypto](https://iq.wiki/wiki/cryptocurrency) assets. USDs combines a 100% backed model with scalability benefits, unlike centralized [stablecoins](https://iq.wiki/wiki/stablecoin) or algorithmic models. Its yield is generated from collateral sent to [decentralized finance](https://iq.wiki/wiki/defi) protocols, with 50% of this yield going to USDs holders. [\\[2\\]](#cite-id-59wgzkexnkq)  \n  \n[Minting](https://iq.wiki/wiki/minting) USDs requires eligible collateral, such as [USDC](https://iq.wiki/wiki/usdc) or [USDT](https://iq.wiki/wiki/tether). [Collateral](https://iq.wiki/wiki/collateral) is pooled and used to [mint](https://iq.wiki/wiki/minting) USDs, which remains fully collateralized or over-collateralized. Sperax [DAO](https://iq.wiki/wiki/dao) governs [mint](https://iq.wiki/wiki/minting) fees and yield distribution, and yields are paid approximately every seven days in USDs. [\\[2\\]](#cite-id-59wgzkexnkq)[\\[3\\]](#cite-id-dt6mc9helmo) ![376250354-5b9dc88d-a1f8-4f8a-8586-3287355fc268.jpg](https://ipfs.everipedia.org/ipfs/QmTh3cZsTAUqTX9eazyN7wU3D1DcM7Rs7JASZ11A8FEkdu)  \n  \n## Demeter Protocol  \n  \nDemeter Protocol operates on various [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange), including [Uniswap](https://iq.wiki/wiki/uniswap) and [Camelot](https://iq.wiki/wiki/camelot-dex), and allows [DAOs](https://iq.wiki/wiki/dao) to launch and manage [decentralized exchange](https://iq.wiki/wiki/decentralized-exchange) [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) without coding knowledge. It enables [DAOs](https://iq.wiki/wiki/dao) to create incentivized [liquidity pools](https://iq.wiki/wiki/liquidity-pool), currently on [Uniswap V3](https://iq.wiki/wiki/uniswap) and [Camelot V2](https://iq.wiki/wiki/camelot-dex), with plans to expand to other platforms and [blockchains](https://iq.wiki/wiki/blockchain) like [Optimism](https://iq.wiki/wiki/optimism), [Polygon](https://iq.wiki/wiki/polygon), and [Ethereum](https://iq.wiki/wiki/ethereum). [\\[4\\]](#cite-id-y4su7fks4c)[\\[5\\]](#cite-id-gkkgu5i2tu4)[\\[6\\]](#cite-id-u3m4am6xod)  \n  \nDemeter automates launching and managing [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) for a [DAO's](https://iq.wiki/wiki/dao) native token, providing technical support through its audited contract system. It also offers marketing support by listing active farms on a dashboard that attracts users. By leveraging concentrated [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) on [Uniswap V3](https://iq.wiki/wiki/uniswap), [DAOs](https://iq.wiki/wiki/dao) benefit from reduced [slippage](https://iq.wiki/wiki/slippage) and lower emissions budgets. Demeter simplifies the process for [DAOs](https://iq.wiki/wiki/dao) to launch [liquidity pools](https://iq.wiki/wiki/liquidity-pool) without complex contracts and provides rewards in both SPA and [Camelot](https://iq.wiki/wiki/camelot-dex) tokens to reduce token spending and pressure. [\\[5\\]](#cite-id-gkkgu5i2tu4)[\\[6\\]](#cite-id-u3m4am6xod)  \n  \nIn Demeter Protocol V2, the focus shifted to a multichain approach, discontinuing incentives for pairing with SPA and USDs due to their limited availability across chains. [\\[5\\]](#cite-id-gkkgu5i2tu4)[\\[6\\]](#cite-id-u3m4am6xod) ![demeter.png](https://ipfs.everipedia.org/ipfs/QmZbjnRJoXqxZEdGNq1eNUB24ygQkovfrtK5g6kUrbS84U)  \n  \n# SPA  \n  \nSPA is the [governance](https://iq.wiki/wiki/governance-tokens) and value accrual token of the Sperax ecosystem. SPA holders can [stake](https://iq.wiki/wiki/staking) their tokens on [Arbitrum](https://iq.wiki/wiki/arbitrum) or [Ethereum](https://iq.wiki/wiki/ethereum) to receive veSPA, which grants decision-making power. veSPA tokens are non-transferable, and their balance is proportional to the lockup period—longer lockups result in more veSPA, which determines the share of [staking](https://iq.wiki/wiki/staking) rewards and voting power. [\\[2\\]](#cite-id-59wgzkexnkq)[\\[7\\]](#cite-id-rmr7333g83)  \n  \n[Staking](https://iq.wiki/wiki/staking) rewards are distributed weekly based on the veSPA balance. Rewards come from 25% of the yield generated by the USDs protocol and 100% of fees from USDs [mints](https://iq.wiki/wiki/minting) and redemptions. Yield and fee income, originally in USDs, is swapped for SPA before distribution, simplifying the reward process and maintaining buying pressure on SPA. [\\[2\\]](#cite-id-59wgzkexnkq)[\\[7\\]](#cite-id-rmr7333g83)  \n  \nOnce on-chain governance is live, voting power will depend on the veSPA balance, with longer lockups granting more votes. veSPA balances decay over time, reducing rewards and voting power unless users extend the lockup period, [stake](https://iq.wiki/wiki/staking) more SPA, or re-[stake](https://iq.wiki/wiki/staking) rewards. [\\[2\\]](#cite-id-59wgzkexnkq)[\\[7\\]](#cite-id-rmr7333g83)  \n  \n## Tokenomics  \n  \nSPA has a max supply of 5B tokens and has the following distribution: [\\[8\\]](#cite-id-g83dgpo3hg5)[\\[9\\]](#cite-id-mx0oull1y2k)  \n  \n* **Foundation**: 25.02%  \n* **Treasury**: 25%  \n* **Private Sale**: 15%  \n* **Liquidity**: 10%  \n* **Staking Rewards**: 10%  \n* **Team/Advisors**: 9.98%  \n* **Others**: 5%  \n  \n## xSPA  \n  \nxSPA is a reward token in the Sperax ecosystem that can either be [staked](https://iq.wiki/wiki/staking) for veSPA with a minimum lockup of 180 days or redeemed for SPA within 15 to 180 days, providing 50% to 100% of SPA upon redemption. In early 2023, Sperax [DAO](https://iq.wiki/wiki/dao) determined SPA emissions through Gauge, with 2.9 million SPA emitted weekly and 383,000 SPA used as [bribes](https://iq.wiki/wiki/bribes) for veSPA voters. However, since the SPA Gauge started, USDs total supply has decreased while SPA emissions have increased the circulating supply. [\\[10\\]](#cite-id-3vl3qo40goc)  \n  \nTo address this issue, the strategy for SPA emissions needs to shift toward driving USDs growth and adoption. The aim is to ensure emissions are reinvested in the ecosystem, increasing veSPA [staking](https://iq.wiki/wiki/staking) and SPA [burning](https://iq.wiki/wiki/token-burn). The core team proposes introducing xSPA as a new reward token that can be either [staked](https://iq.wiki/wiki/staking) as veSPA or redeemed for SPA, encouraging more governance participation and supporting ecosystem growth. Technically, xSPA can be redeemed for SPA through a redemption contract or [staked](https://iq.wiki/wiki/staking) to increase the user's veSPA balance. [\\[10\\]](#cite-id-3vl3qo40goc)  \n  \n# Sperax DAO  \n  \nThe Sperax [DAO](https://iq.wiki/wiki/dao) governance process primarily operates through the Sperax [DAO](https://iq.wiki/wiki/dao) Governance Forum. Currently, governance is off-chain, with an on-chain governance protocol planned for the future. Through this system, the community can propose changes to USDs protocol parameters, establish new partnerships, and explore new yield opportunities. [\\[11\\]](#cite-id-xfrbwp31gv)  \n  \n# Partnerships  \n  \n* [Polychain Capital](https://iq.wiki/wiki/polychain-capital)  \n* AMBER  \n* JumpTrading  \n* Outlier Ventures","summary":"Sperax is a DeFi platform offering simplified yield generation via its stablecoin USDs and Demeter protocol, governed by the SPA token.","categories":[{"id":"defi","title":"Decentralized Finance"}],"promoted":0,"tags":[{"id":"Protocols"},{"id":"Stablecoins"}],"metadata":[{"id":"references","value":"[{\"id\":\"do08etxyn18\",\"url\":\"https://sperax.io/\",\"description\":\"Sperax\",\"timestamp\":1728514493909},{\"id\":\"59wgzkexnkq\",\"url\":\"https://docs.sperax.io/\",\"description\":\"Sperax Docs\",\"timestamp\":1728514692283},{\"id\":\"dt6mc9helmo\",\"url\":\"https://docs.sperax.io/master/minting-and-redeeming\",\"description\":\"Minting and Redeeming | Sperax Docs\",\"timestamp\":1728514755607},{\"id\":\"y4su7fks4c\",\"url\":\"https://demeter.sperax.io/\",\"description\":\"Demeter\",\"timestamp\":1728514838589},{\"id\":\"gkkgu5i2tu4\",\"url\":\"https://docs.sperax.io/demeter-protocol\",\"description\":\"Demeter | Sperax Docs\",\"timestamp\":1728514854334},{\"id\":\"u3m4am6xod\",\"url\":\"https://docs.sperax.io/demeter-protocol/how-does-demeter-work\",\"description\":\"How Demeter Works | Sperax Docs\",\"timestamp\":1728514871662},{\"id\":\"rmr7333g83\",\"url\":\"https://docs.sperax.io/staking-protocol\",\"description\":\"Staking Protocol | Sperax Docs\",\"timestamp\":1728514955697},{\"id\":\"g83dgpo3hg5\",\"url\":\"https://docs.sperax.io/faq/spa-tokenomics\",\"description\":\"SPA Tokenomics | Sperax Docs\",\"timestamp\":1728515061902},{\"id\":\"mx0oull1y2k\",\"url\":\"https://tokeninsight.com/en/coins/sperax/tokenomics\",\"description\":\"Sperax Tokenomics | TokenInsight\",\"timestamp\":1728515169949},{\"id\":\"3vl3qo40goc\",\"url\":\"https://docs.sperax.io/faq/xspa-token\",\"description\":\"xSPA Token | Sperax Docs\",\"timestamp\":1728515219143},{\"id\":\"xfrbwp31gv\",\"url\":\"https://docs.sperax.io/governance\",\"description\":\"Governance | Sperax Docs\",\"timestamp\":1728515285672}]"},{"id":"website","value":"https://sperax.io/"},{"id":"contract_url","value":"https://platform.arkhamintelligence.com/explorer/token/sperax"},{"id":"twitter_profile","value":"https://x.com/SperaxUSD"},{"id":"youtube_profile","value":"https://www.youtube.com/@Sperax/videos"},{"id":"discord_profile","value":"https://discord.com/invite/cFdcvj9jMm"},{"id":"telegram_profile","value":"https://t.me/SperaxUSD"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/sperax/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/sperax"},{"id":"etherscan_profile","value":"https://etherscan.io/token/0xb4a3b0faf0ab53df58001804dda5bfc6a3d59008"},{"id":"arbiscan_profile","value":"https://arbiscan.io/token/0x5575552988a3a80504bbaeb1311674fcfd40ad4b"},{"id":"previous_cid","value":"QmX3HEgu3DziM3dm5LWmWd9bF2W331aJGPX7gMAWDANJbj"}],"user":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2"},"author":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2","profile":{"username":"JSD","avatar":""}},"media":[{"name":"demeter.png","id":"QmZbjnRJoXqxZEdGNq1eNUB24ygQkovfrtK5g6kUrbS84U","size":"0.78","type":"GALLERY","source":"IPFS_IMG"},{"name":"eOS12xByBRc","id":"https://www.youtube.com/watch?v=eOS12xByBRc","size":"0","type":null,"source":"YOUTUBE"},{"name":"qpNPt7EcrU8","id":"https://www.youtube.com/watch?v=qpNPt7EcrU8","size":"0","type":null,"source":"YOUTUBE"},{"name":"376250354-5b9dc88d-a1f8-4f8a-8586-3287355fc268.jpg","size":"0.05","id":"QmTh3cZsTAUqTX9eazyN7wU3D1DcM7Rs7JASZ11A8FEkdu","type":"GALLERY","source":"IPFS_IMG","hash":"QmTh3cZsTAUqTX9eazyN7wU3D1DcM7Rs7JASZ11A8FEkdu"}],"views":21,"events":[],"linkedWikis":{"founders":[],"blockchains":[]},"founderWikis":[],"blockchainWikis":[],"ipfs":"QmX3HEgu3DziM3dm5LWmWd9bF2W331aJGPX7gMAWDANJbj","transactionHash":"0xa3f3b6e0dfb945d6961ab30de9c022b0ec3847a6e47819cf2d280b682113bfee","created":"2024-10-09T23:30:01.745Z","updated":"2024-10-09T23:30:01.745Z","images":[{"id":"QmYD41Cz1m8uspNs4B4irZQDQPfk6jeMQp14XrtaEBYUh6","type":"image/jpeg, image/png"}]}