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Sperax

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Discover Sperax's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Sperax?

Sperax (SPA) is a cryptocurrency and the native utility token of the Sperax ecosystem, a blockchain-based financial platform that aims to revolutionize traditional finance through decentralized finance (DeFi) solutions. SPA serves dual roles as a governance token and a value accrual asset, enabling holders to participate in decision-making and earn rewards through staking. It operates on both Ethereum and Arbitrum networks and can be traded on various exchanges.

How is Sperax used?

Sperax (SPA) is a blockchain-based protocol designed for decentralized applications (dApps), particularly focused on decentralized finance (DeFi) solutions. The SPA token serves dual roles as a governance token and a value accrual asset within the Sperax ecosystem.

Governance and Staking

SPA holders can stake their tokens to gain governance power and earn a share of protocol fees. This staking mechanism allows users to participate in decision-making through the Sperax DAO and earn rewards. The staking protocol is deployed on both Ethereum and Arbitrum networks, with specific contract addresses for each chain.

Value Accrual and Yield

The SPA token also benefits from a deflationary design, which includes a burn mechanism to reinforce its scarcity over time. Additionally, SPA holders can earn staking rewards and fees from the minting and redeeming of USDs, the decentralized stablecoin yield automation protocol within the Sperax ecosystem.

Trading and Liquidity

SPA tokens can be freely traded across centralized exchanges (CEXs) and decentralized exchanges (DEXs) that support its trading pairs. This allows users to transfer value and store it, making SPA a versatile asset within the DeFi landscape.

Buyback and Circulating Supply

The Sperax protocol uses 50% of the auto-yield and 100% of the fees to buy back SPA tokens from the open markets, which are then stored in a designated wallet. This process helps manage the circulating supply of SPA tokens, ensuring a balanced and healthy token economy.

Overall, the Sperax (SPA) token is a crucial component of the Sperax ecosystem, enabling governance, staking, and value accrual while facilitating liquidity and trading within the DeFi space.

How do I store Sperax?

To store Sperax (SPA) tokens, you have two primary options:

  1. KuCoin Account: You can hold your SPA tokens in your KuCoin account. This provides quick access to trading products such as spot and futures trading, staking, and lending. KuCoin acts as the custodian of your crypto assets, ensuring you don't need to manage your private keys. However, make sure to set up a strong password and upgrade your security settings to prevent unauthorized access.

  2. Non-Custodial Wallets: For enhanced security, you can withdraw your SPA tokens to a non-custodial wallet. This grants you complete control over your private keys. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. Keep in mind that this option may be less convenient if you plan to trade your SPA tokens frequently or use them for other activities. Always store your private keys securely to avoid losing access to your SPA tokens.

How to buy Sperax?

To buy Sperax (SPA) tokens, follow these steps:

  1. Choose an Exchange:

    • Select a reliable centralized exchange such as KuCoin, Binance, Coinbase Pro, CoinEx, gate.io, or MEXC.
    • Research the exchange, read user reviews, and compare fees, security features, and supported currencies before making a choice.
  2. Create an Account:

    • Sign up on the chosen exchange with your email address, mobile phone number, and country of residence.
    • Create a strong password and ensure account security by setting up Google 2FA, anti-phishing codes, and trading passwords.
  3. Verify Your Account:

  • Complete the identity verification process by providing personal information and uploading a valid Photo ID.
  1. Add a Payment Method:

    • Add a credit/debit card, bank account, or other supported payment methods to fund your account.
  2. Buy Sperax (SPA):

    • Navigate to the Buy & Sell section and select Sperax (SPA) as the cryptocurrency to buy.
    • Choose the desired order type: Market Order, Limit Order, Stop Order, or TWAP Order, depending on your trading strategy.
  3. Transfer to Wallet:

  • Once purchased, you can hold your Sperax (SPA) in your exchange account or transfer it to a personal cryptocurrency wallet for additional security and flexibility.

Remember to stay informed about market conditions and fees associated with each exchange to ensure a smooth and secure purchase experience.

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History of Sperax

The history of Sperax (SPA) began with a commitment to harnessing the transformative potential of blockchain technology in financial landscapes. The project launched with the goal of revolutionizing traditional finance through decentralized finance (DeFi) solutions.

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How Sperax works

Sperax (SPA) is a cryptocurrency that operates at the core of the Sperax ecosystem, a decentralized finance (DeFi) project. It serves dual roles as both a governance token and a value accrual asset. Here's how it works:

Governance and Decision-Making

SPA holders can participate in decision-making through the Sperax DAO, which allows them to have a say in the project's development and direction. This governance role is crucial in shaping the future of the Sperax ecosystem.

Staking and Fee Earning

SPA holders can stake their tokens to gain governance power and earn a share of protocol fees. This staking mechanism incentivizes users to hold and support the network, ensuring its stability and growth. The fees earned from staking come from the minting and redeeming of USDs within the system.

Deflationary Design and Burn Mechanism

The SPA token has a deflationary design, which means that its supply decreases over time. This is achieved through a burn mechanism that reinforces the token's scarcity, potentially increasing its value.

Trading and Liquidity

SPA can be freely traded on both centralized and decentralized exchanges that support its trading pairs. This allows users to transfer value and store it in the form of SPA tokens.

Circulating Supply Calculation

The circulating supply of SPA is calculated by considering various factors such as the total supply on Ethereum and Arbitrum, locked wSPA, major wallet holdings, and staking protocol balances. This ensures that the supply is accurately reflected and transparent.

Tokenomics and Distribution

The SPA token has a total supply distributed across Ethereum and Arbitrum networks. The tokenomics include allocations for staking rewards, team and advisors, private sales, and other purposes. The distribution is designed to incentivize participation and ensure the long-term sustainability of the project.

Buyback and Liquidity

Sperax has a buyback mechanism that uses 50% of the auto-yield and 100% of the fees to purchase SPA tokens from the open market. These bought-back tokens are stored in a designated wallet, which helps maintain liquidity and supports the token's price.

Overall, the Sperax (SPA) token plays a central role in the Sperax ecosystem, enabling governance, staking, and value accrual while maintaining a deflationary design and ensuring liquidity through its buyback mechanism.

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Sperax's strengths

The token Sperax (SPA) has several strengths that contribute to its potential success in the cryptocurrency market:

  1. Governance and Value Accrual: SPA is the governance and value accrual token of the Sperax ecosystem, allowing holders to participate in decision-making processes and benefit from the protocol's revenue.

  2. Dual-Token Algorithmic Stablecoin Protocol: Sperax operates as a dual-token algorithmic stablecoin protocol, aiming to provide a scalable, trustless, and decentralized solution for users.

  3. Staking and Yield Generation: SPA holders can stake their tokens to receive veSPA, which grants them voting power in governance and earns them staking rewards. Additionally, the protocol generates yield through delta-neutral strategies based on audited DeFi protocols, with 50% of the yield distributed to USDs holders as Auto-Yield.

  1. Cross-Chain Compatibility: Sperax operates across multiple blockchains, including Ethereum and Arbitrum, ensuring broad accessibility and flexibility for users.

  2. Strong Tokenomics: The token distribution schedule and vesting periods for team members, advisors, and private sale participants are well-defined, ensuring a transparent and structured token economy.

  3. Decentralized Stablecoin Yield Automation: The Sperax USD (USDs) protocol automates yield generation on stablecoins, providing a passive income strategy for users without requiring active management.

These strengths position Sperax as a robust and innovative project in the DeFi space, offering users a range of benefits and opportunities for growth.

Sperax's risks

Sperax (SPA) is a cryptocurrency project that carries significant financial risks. Trading crypto assets like SPA is a high-risk activity due to the volatility of their prices, which can change significantly over time. This volatility means that investors may experience significant losses if the market moves against them.

Another risk factor to consider is the potential for manipulation. While InvestorsObserver research suggests that Sperax has a low risk analysis score, indicating that it is less susceptible to price manipulation, this does not eliminate the risk entirely. The scoring system used by InvestorsObserver assesses the amount of money required to shift the price over a 24-hour period, along with changes in volume and market capitalization, to determine the likelihood of manipulation.

In summary, investing in Sperax (SPA) involves substantial financial risks due to price volatility and the potential for manipulation, making it essential for investors to thoroughly understand these risks before making any investment decisions.

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Did Sperax raise funds?

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Sperax's ecosystem

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Sperax’s team

  • Nicolas Andreoulis: Researcher at Sperax, involved in the design of the stablecoin USDs and the broader adoption of decentralized stablecoins.
  • Alec Shaw: Business Development at Sperax, focused on expanding the token ecosystem and implementing new features such as the veSPA staking protocol.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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