What is Sperax (SPA)

1. Project Introduction
Sperax (SPA) is a crypto-collateralized algorithmic stablecoin protocol based on the Arbitrum network. The USDs stablecoin generates automatic yield without the need for staking. Users simply hold the token in their wallet and automatically earn yield, without paying gas fees or manually calling smart contracts. USDs is backed by 100% audited diversified crypto assets (stablecoins), ensuring stability and security.
Summary: Sperax is a user-friendly, automatic yield stablecoin protocol that generates yield without staking. Its 100% asset-backed model ensures stability and security.
2. Team & Investment Info
Frida Cai, founder and partner of Sperax, was motivated to start the project due to the challenges she observed in accessing financial services during her time in Mombasa. Alec Shaw, business development partner at Sperax, has a strong financial and blockchain background. He studied finance at Marquette University, founded the Marquette Blockchain Lab, and worked in blockchain consulting, contributing to multiple Ethereum-based financial products. Additionally, Nicolas Andreoulis, a core designer of the Terra stablecoin project and DeFi savings protocol Anchor, has joined Sperax to assist in designing the sCOIN stablecoin.
Funding:
Sperax has raised a total of $16.8 million through three rounds of funding. The most recent round, completed on December 29, 2021, valued the project at $200 million, with participation from Amber Group, Alameda Research, Jump Capital, and DJ Steve Aoki.
3. Social Media URLs
X: https://x.com/SperaxUSD
Telegram: https://t.me/sperax
Discord: https://discord.gg/cFdcvj9jMm
Medium: https://medium.com/sperax
4. Token Info
Token Symbol: SPA
Total Supply: 5,000,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: 0xB4A3B0Faf0Ab53df58001804DdA5Bfc6a3D59008
Token Distribution:
Treasury: 25%
Foundation: 25.02%
LBP Liquidity: 10%
Staking Rewards: 10%
Team and Advisors: 9.98%
Private Sale: 15%
5. Related Links
Official Website: https://sperax.io/
GitHub: https://github.com/Sperax
White Paper: https://github.com/Sperax/USDs-Whitepaper/blob/main/USDs_Whitepaper.pdf