Sperax (SPA) Review (8.3/10⭐)

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Sparex is a blockchain that enables investors to mint and seek higher yields from staking cryptocurrency collateral. It has two coins within its ecosystem: SPA and Sparex USD. Holders of SPA lock it up as it is automatically staked on Ethereum and Arbitrum in the form of Sparex USD. They, in turn, get veSPA based on the amount and duration of the lockup.

The veSPAs dictate the earnings one gets from SparexUSD yields and transaction fees generated from the movement of the stablecoin. There is also a guaranteed return at an APR of 10% for the first 90 days the SPA tokens are locked.

 

A Bit About Sperax

Sperax (SPA) can be described as a collateral provider for receiving yields. The underlying blockchain solves the problem of having to be physically present while staking decisions are being made and increases the probability of earning more. This solution makes it effortless to earn with your cryptocurrencies while providing a stable stream of collateral to keep the profits streaming in.

The team that formed Sperax is experienced in decentralized finance and other aspects of cryptocurrencies. The core team is made up of engineers, economists, a mathematician, a marketer, and a graphic designer. Each of the team members has experience related to cryptocurrency. The team has a single focus: creating a finance solution to help investors make the most of the cryptocurrency collateral.

One thing about Sperax is that investors do not get to buy and stake the Sperax UDSs. Instead, they lock up their SPA for a given period with the aim of getting more rewards from yields and fees spent on staking. The blockchain works with Ethereum and Arbitrum, two popular ecosystems for staking cryptocurrencies for yield rewards.

An innovative staking solution on both Ethereum and Arbitrum!CryptoLists.com

 

Sperax is a staking solution on Ethereum and Arbitrum. Its native coin, SPA, is the primary staking coin for the blockchain. Holders stake SPA to receive protocol fees, staking incentives, and a share of the auto-return received from staking the stablecoin USD, which is also based on the same blockchain.

Holders stake their SPA on Ethereum or Arbitrum and receive veSPA tokens. The amount of tokens received depends on the lockup period of the SPA coins. Therefore, the longer the lockup period, the higher the veSPA balance.

The amount of rewards and earnings the holder gets are determined in two ways. First, the yields are distributed proportionally according to the veSPA balance. The balance is based on weekly lockup periods. SPA users get 25% of the yield that the USDs protocol generates. They also get 100% of the fee that comes from USDs redemptions and mints.

 

Utility of Sperax?

Cryptocurrency investors use Sperax to stake in blockchains. They hold enough SPA to earn veSPA, which would earn them the projected rewards. While the fee income and yield are generated by stablecoins, they are then swapped for SPA tokens before distribution. This helps make the claiming process a lot easier for stakers while keeping the buying pressure high on the token.

Several benefits accrue from holding SPA tokens. First, the tokens give the holder the ability to take part in the governance of the blockchain. The voting power is based on the number of coins held along with the duration of the holding. Second, it gives holders automatic yields for their cryptocurrencies as long as they are staking their collateral.

Third, holders have the ability to stake currencies on Ethereum and Arbitrum from a single dashboard. This increases their earnings from the compounded yields that come from these activities. Fourth, SPA holders can access liquidity bootstrapping options for protocol staking on Arbitrum. This means that SPA provides collateral to increase the yield power for these protocols in return for a share of the yields.

 

Advantages of Sperax

+ Holders of SPA enjoy automatic yields based on the amount of token locked up
+ SPA enables staking for yields on Arbitrum and Ethereum and an easy claim process
+ SPA holders enjoy a guaranteed APR of 10% for the first 90 days they lock their tokens
+ The SPA token is secure and decentralized, allowing for cheap, safe transactions within the blockchain
+ Sparex (SPA) enables users to take part in blockchain governance and vote on future changes
 

Disadvantages

- Spa is a niche token that is meant for use in the staking process
- The token has not received much exposure beyond the investor's circle
- The costs of transacting in SPA are still higher than with such coins as Solana
- SPA value has not been climbing steadily at cryptocurrency exchanges
- Earnings are still subject to volatility in the stablecoin marketplace
 

Costs

▪ Rated at 9/10

The cost of transacting in Sparex (SPA) is about 0.05% of the value of the transaction. It is slightly lower than that of Sparex USD, which stands at 0.1% of the amount transacted. This low transaction cost ensures holders make maximum earnings from their SPA without losing substantial amounts to fees.

 

Reputation and Buzz

▪ Reputation rated at 8.5/10
▪ Buzz rated at 8.5/10

This solution has received positive feedback from across the cryptocurrency world. Several investors have put their cash into the idea over the years to make it grow. The token has also seen growth in terms of the volume of coins bought.

A number of things have led to this growth. First, the crypto solution provides an easy way to earn from their collateral without making complicated staking decisions or holding different collateral for Ethereum and Arbitrum. Second, the actual yields come from a stablecoin, which is less volatile and has high yield potential.

 

FAQ

How does Sperax collateral staking work?

There are two types of collateral: SPA (endogenous collateral) and USD-based coins (exogenous collateral). When the value of USD-based coins is above 1 USD, arbitrageurs get incentivized to mint and sell Sparex USD, and the stablecoins are backed by more SPA.

On the other hand, if the value of USD-backed coins is below 1 USD, arbitrageurs are incentivized to buy and burn more Sparex USD. This dynamism helps maintain deflationary pressure on the SPA token and a steady flow of profit.

Where can I buy SPA token?

You can buy SPA tokens from such cryptocurrency exchanges as DigiFinex, CoinW, Bitrue, Gate.io., and BingX. Check the Sparex page for a list of other exchanges where the coin may be available in the future.

 

History of Sperax

September 2019 – Sperax is formed with the aim of providing financial resources to power cryptocurrencies.

September 2020 - Sperax native token (SPA) is introduced. It will be the governance coin and used for staking for yields.

February 2021 – A Sperax (SPA) airdrop starts. It will happen in three phases. Owners of the coins will be able to take part in governance decisions and stake the coins for yields.

May 2021 – A stable coin called SperaxUSD is introduced to generate sustainable and automatic yields for investors.

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Screenshots from Sperax

 

More sites where to buy/sell/trade Sperax

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.