In late 2019, a technology firm was born with the goal of building modern money using blockchain technology. Sperax, based in New York City, has since become a global leader in DeFi ecosystem building with a range of innovative products designed to bridge the gap to the blockchain for both experienced and novice crypto users. This startup showcase will take a closer look at Sperax, its suite of products, and the impact it’s having on the DeFi space.
Introducing Sperax: Modern Money for a Modern World
Sperax’s mission is simple: build modern money for a modern world. To achieve this goal, the company has built a DeFi ecosystem with a suite of various products, including the automatic yield-bearing stablecoin SperaxUSD, synthetic assets, and derivatives products. With these products, Sperax aims to bring the benefits of blockchain technology to a wider audience and bridge the gap to the blockchain for both experienced and novice crypto users.
SperaxUSD: The Automatic Yield-Bearing Stablecoin
Sperax’s flagship product is SperaxUSD, a crypto collateralised algorithmic yield-bearing stablecoin that uses a dual token system – SperaxUSD stablecoin and its governance token, SPA. SperaxUSD is partially collateralized and partially backed by the protocol’s ability to mint SPA when redeeming USDs, allowing for it to operate like DAI during market contraction and UST during market expansion.
SperaxUSD offers a range of benefits to users, including automatic yield generation, reduced price volatility, and easy access to DeFi opportunities. SperaxUSD is an innovative product that offers a unique solution to some of the key challenges facing the DeFi space, making it an exciting addition to the blockchain ecosystem.
Sperax Play: The Future of DeFi
Sperax’s mobile app, Sperax Play, is set to become the future of DeFi. With plans to house an NFT marketplace and host Sperax’s DeFi products to a global user base, Sperax Play is a game-changer for the DeFi ecosystem. Sperax Play currently has over 600k users and is planning to expand further in Q1 of 2022.
Sperax’s innovative approach to DeFi is attracting attention from investors, with backing from Jump Trading, FBG Capital, Outlier Ventures, Steve Aoki, and more. With a growing user base, innovative products, and a commitment to building modern money for a modern world, Sperax is a company to watch in the DeFi space.
Sperax is a technology firm building modern money with blockchain technology. With a range of innovative products, including the automatic yield-bearing stablecoin SperaxUSD and the mobile app Sperax Play, the company is bridging the gap to the blockchain for both experienced and novice crypto users. With backing from some of the biggest names in the industry, Sperax is set to become a major player in the DeFi space.