Launched in 2020, Sperax is headquartered in NYC. After envisioning a Sperax Layer 1 blockchain, the team transitioned to building the first auto-yield-bearing stablecoin on Arbitrum: Sperax USD (USDs).
In December 2021, Sperax released Sperax USD (USDs) on L2 Arbitrum. Sperax USD protocol mints USDs, a 100% collateralized stablecoin. USDs is backed by on-chain collateral and generates organic yield for its holders. USDs is the premier trading pair on Arbitrum.
USDs holders benefit from native auto-yield, meaning that holders automatically earn yield without having to stake or claim. The yield is generated organically from the collateral deployed on Defi protocols like Curve Finance.
Sperax’s roadmap is to construct a full-stack Defi ecosystem based on USDs. As the USDs ecosystem expands through organic and partnership growth, the team plans to vitalize the L1 conceived during the company’s incipient stage.
Sperax has received $7 million in early funding. Sperax is backed by Polychain Capital, Jump Trading, Alameda Research, Amber Group, and DJ Steve Aoki.
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