# SPA Tokenomics

### SPA Circulating Supply Calculation Logic

`Circulating Supply = Total Supply of SPA on Ethereum + Total Supply of SPA on Arbitrum + Total Supply of wSPA on Ethereum - wSPA locked on Arbitrum bridge - SPA balance held by major wallets - SPA locked in SPA Staking Protocol`

### Important contract addresses:

SPA token address (Ethereum): 0xb4a3b0faf0ab53df58001804dda5bfc6a3d59008

SPA token address (Arbitrum): 0x5575552988A3A80504bBaeB1311674fCFd40aD4B

wSPA (wrapped SPA) token address (Ethereum): 0x2a95FE4c7e64e09856989F9eA0b57B9AB5f770CB

Arbitrum bridge where wSPA is locked (Ethereum): 0xcEe284F754E854890e311e3280b767F80797180d

### Major wallets with SPA tokens

<table><thead><tr><th width="150">Name</th><th width="256">Address</th><th width="411">Vesting &#x26; Purpose</th><th>Initial Allocation</th><th>% of Initial Supply</th></tr></thead><tbody><tr><td>Treasury</td><td><p><a href="https://etherscan.io/address/0x4a692fd139259a5b94cad7753e3c96350b7f2b9f">0x4a692fD139259a5b94Cad7753E3C96350b7F2B9f</a></p><p></p><p><a href="https://arbiscan.io/address/0xba6ca0b9e7333f5e667816b85704c024ab250c9d">0xBA6ca0B9e7333f5e667816b85704c024AB250C9D<br></a><br><a href="https://arbiscan.io/address/0x8898A38Eb8E3104f7c98622b55260E014B3a0217">0x8898A38Eb8E3104f7c98622b55260E014B3a0217</a></p></td><td>This vests linearly over a 4-year time-lock, beginning from the launch date of governance protocol. The DAO will control this fund and utilize for future partnerships, marketing incentives, liquidity mining rewards, etc.</td><td>1,250,000,000</td><td>25%</td></tr><tr><td>Foundation</td><td><p><a href="https://etherscan.io/address/0xd95791bcab484c0552833cb558d18d4d3f198af9">0xD95791bcab484C0552833cB558d18d4D3F198AF9</a>  </p><p><a href="https://arbiscan.io/address/0xb56e5620a79cfe59af7c0fcae95aadbea8ac32a1">0xb56e5620A79cfe59aF7c0FcaE95aADbEA8ac32A1</a></p><p> <a href="https://etherscan.io/address/0xC6e00e0E3544C93460cdFb53E85C4528EF348265">0xC6e00e0E3544C93460cdFb53E85C4528EF348265</a><br><br></p></td><td>Foundation funds are being used to make initial markets and for protocol development. Since the foundation lends the tokens to third parties for market making activities, the actual token balance held in the foundation wallet will fluctuate. <strong>Foundation has burnt 375MM SPA in 2022 to further decentralise the protocol - 250MM SPA in May and 125MM SPA in September.</strong> <a href="https://etherscan.io/address/0xC6e00e0E3544C93460cdFb53E85C4528EF348265">0xC6e00e0E3544C93460cdFb53E85C4528EF348265</a> is an operator wallet which is sometimes used to move tokens from Layer 1 to Layer 2. </td><td>1,250,783,000</td><td>25.02%</td></tr><tr><td>Bootstrap Liquidity</td><td><a href="https://etherscan.io/address/0x8b65ce3b4eaa8958346096c3a9303b73f2012acc">0x8B65CE3b4Eaa8958346096C3a9303b73f2012aCc</a><br><br><a href="https://arbiscan.io/address/0xaf64e027d42bac1c14277fd295de9ae318eef17e">0xAF64e027D42bAc1C14277fd295De9Ae318eEF17E</a></td><td>This will be used to provide rewards for liquidity mining during protocol genesis. Future liquidity mining rewards will be funded from treasury funds</td><td>500,000,000</td><td>10%</td></tr><tr><td>Staking Rewards</td><td><p><a href="https://etherscan.io/address/0xcd1b1ce6ce877a9315e73e2e4ba3137228068a59">0xCD1B1ce6ce877a9315E73E2E4Ba3137228068A59</a></p><p><a href="https://arbiscan.io/address/0x3702e3e2db2b5d037c1dbb23ab7a51d0cc90bd0e">0x3702E3e2DB2b5d037c1dbB23Ab7A51d0Cc90BD0e</a><br></p></td><td>This will be used to reward users who stake $SPA in the staking protocol. Stakers will earn fees from the minting and redeeming of $USDs, as well as staking rewards from the allocated rewards budget.</td><td>500,000,000</td><td>10%</td></tr><tr><td>Team &#x26; Advisor</td><td><a href="https://arbiscan.io/address/0xE10b88d70b01b956782Dc98d7D4f3a931FF59Fc7">0xE10b88d70b01b956782Dc98d7D4f3a931FF59Fc7</a></td><td>This vests linearly over 4 years with a 6 month cliff. Token unlock schedule will start from 4/1/2022 for existing team members. For new members, vesting would start at least three months from the day they join.</td><td>499,217,000</td><td>9.98%</td></tr><tr><td>Private Sale</td><td><a href="https://etherscan.io/address/0x2fc8d8bcf4b2c0fc6594475e44c473ac3e844b6a">0x2Fc8d8BCf4b2c0fc6594475E44c473AC3E844B6a</a></td><td>All SPA tokens have been vested under a strict vesting schedule of 1 year starting from 9/18/2021.</td><td>750,000,000</td><td>15%</td></tr></tbody></table>

### Staking Protocol Related

| Title                | Chain    | Contract / Wallet Address                  |
| -------------------- | -------- | ------------------------------------------ |
| veSPA L1             | Ethereum | 0xbF82a3212e13b2d407D10f5107b5C8404dE7F403 |
| veSPA L2             | Arbitrum | 0x2e2071180682Ce6C247B1eF93d382D509F5F6A17 |
| RewardDistributor L1 | Ethereum | 0xa61DD4480BE2582283Afa54E461A1d3643b36040 |
| RewardDistributor L2 | Arbitrum | 0x2c07bc934974BbF413a4a4CeDA98713DCb8d9e16 |
| Staking Reward       | Arbitrum | 0x3702E3e2DB2b5d037c1dbB23Ab7A51d0Cc90BD0e |

### Bootstrap Liquidity Related

Tokens from Bootstrap Liquidity have been moved to a lot of Farm rewarder contracts and  deployer wallet addresses for operational reasons. Please find below the list of those addresses. We will try our best to keep this list constantly updated.&#x20;

| Title                          | Chain                  | Contract / Wallet Address                                                                                            |
| ------------------------------ | ---------------------- | -------------------------------------------------------------------------------------------------------------------- |
| Bootstrap Liquidity            | Ethereum               | 0x8B65CE3b4Eaa8958346096C3a9303b73f2012aCc                                                                           |
| Bootstrap liquidity deployer   | Ethereum  and Arbitrum | 0xc28c6970D8A345988e8335b1C229dEA3c802e0a6                                                                           |
| USDs/USDC Farm Rewarder (SPA)  | Arbitrum               | 0x1733c5bc884090C73D89303467461693c54Ba58B                                                                           |
| SPA/USDs Farm Rewarder 1 (SPA) | Arbitrum               | 0x136C218Ff8E87eD68f851433685960819F06b1fE                                                                           |
| USDs/USDC Farm Vesting (SPA)   | Arbitrum               | 0x638d76763dE9492b609b0d8830D8F626C5933A4D                                                                           |
| SPA/USDs Farm Vesting (SPA)    | Arbitrum               | 0x03b35477cFD400dEdfAc06f40422491500cbc663                                                                           |
| SPA/USDs Farm Rewarder 2 (SPA) | Arbitrum               | 0x36033594EC23E0f0B187f767889Eb4C539F4aE03                                                                           |
| SPA/USDs Farm Vesting 2 (SPA)  | Arbitrum               | 0xC0F0484a216AfF20E0ead1a1513cE40fe0AFe0fe                                                                           |
| SPA-Reserve-L2 multi-sig       | Arbitrum               | 0xb56e5620A79cfe59aF7c0FcaE95aADbEA8ac32A1                                                                           |
| SPA Farm                       | Arbitrum               | [0xc150cbdDC5932258fAc768bEB4d2352D127039fd](https://arbiscan.io/address/0xc150cbdDC5932258fAc768bEB4d2352D127039fd) |
| SPA Farm rewarder              | Arbitrum               | [0x852afF031bb282C054B26628A799D7F3a896873e](https://arbiscan.io/address/0x852afF031bb282C054B26628A799D7F3a896873e) |
| Bootstrap liquidity Arbitrum   | Arbitrum               | 0xAF64e027D42bAc1C14277fd295De9Ae318eEF17E                                                                           |

### SPA Buyback

The SPA that is bought back from the open markets using 30% of the auto-yield and 100% of the fees is stored in : [0xA61a0719e9714c95345e89a2f1C83Fae6f5745ef](https://arbiscan.io/address/0xA61a0719e9714c95345e89a2f1C83Fae6f5745ef#tokentxns) (Arbitrum One)\
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SPA circulating supply [sheet](https://docs.google.com/spreadsheets/d/1OSrHKR4Rpe5U6HgNN7p8XHd_VpQmB6upqLUYZG89yZ4/edit?usp=sharing) which is in Beta. It can be used to view the circulating supply breakdown for the token.&#x20;