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Sperax USD: Stablecoin & Yield Automator (💙,🧡) Profile picture
Sperax USD: Stablecoin & Yield Automator (💙,🧡)
@SperaxUSD
100% Backed Stablecoin & Yield Automator on @Arbitrum - Share Yield by staking $SPA - https://t.co/GORPoWpsZ3 - Governance: https://t.co/X24w0EISdw
May 14, 2023 • 6 tweets • 3 min read
Sperax OGs remember that once upon a time $USDs was a partially algorithmic stablecoin.

Now Sperax USD is 100% backed with stables and has no algo component anymore.

Why did this USDs design evolution happen?

Let's recall!
#Sperax_fundamentals Image At its inception, USDs had an algorithmic component - it was collateralized by governance token $SPA (~6%) and stable collateral (~94%). Algo component's share was supposed to grow with time - together with USDs market cap growth.
Feb 4, 2023 • 6 tweets • 2 min read
On February 4th, the SperaxUSD protocol on @Arbitrum was exploited. The Core team is ready to share the known elements now, and the detailed report will follow on Monday, February 6th. 1/6 An exploiter was able to increase the token balance for their address to 9.7bln tokens without providing matching collateral and was able to liquidate around ~300k $USDs before he was stopped by joint actions of the Sperax team and @Arbitrum ecosystem partners. 2/6
Aug 29, 2022 • 9 tweets • 4 min read
SIP-X: #Demeter v1 Launch Spec🚨

Demeter is a no-code @Uniswap v3 farm launcher and DEX liquidity manager for DAOs.

Discuss the proposal here
forum.sperax.io/t/sip-x-demete…

Demeter use-case 🧵 1/9 Image XDAO, a new DAO, has a token called $XDAO

They are launching on @arbitrum & need DEX liquidity...

XDAO learns they must write/fork a farm contract for Uniswap V3, get it audited, deploy it, then advertise the farm to LPs.

This feels unattainable to the young team.
2/9