Sperax USD or USDs is a decentralized stablecoin yield automation protocol. It acts as a bridge for individuals seeking to benefit from the crypto markets without taking unnecessary risks. The underlying collateral is always denominated in a stablecoin, the protocol only deposits collateral in delta neutral strategies based on audited DeFi protocols.
How does it Work?
USDs automates the process of earning yield on stablecoins. Yield is generated organically by sending collateral to audited decentralized finance protocols. 50% of yield generated on collateral is used to pay USDs holders Auto-Yield. USDs Auto-yield rate is adjustable and depends on the actual yield generated by the collaterals. Any yield generated beyond the max Auto-yield rate will be stored in Auto-yield reserves. This novel passive income strategy does not require any action from the user. Users can just hold USDs and see wallet balance grow, auto-compounding the yield in the process.
SPA is the governance and value accrual token of the Sperax ecosystem. SPA holders can stake SPA tokens to receive veSPA. veSPA holders are decision makers of the protocol. They will earn staking rewards and manage the protocol revenue via voting power in Sperax governance. Off-chain governance is live and community (veSPA holders) can control parameters of USDs protocol, yield strategies, eligible collateral, new product features, etc. On-chain governance will be launched soon making veSPA holders true owners of the Sperax ecosystem.