SPA Tokenomics

Token distribution schedule, details of tokens held by the foundation and community treasury

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

Name
Address
Vesting & Purpose
Initial Allocation
% of Initial Supply

Treasury

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.

1,250,000,000

25%

Foundation

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. Foundation has burnt 375MM SPA in 2022 to further decentralise the protocol - 250MM SPA in May and 125MM SPA in September. 0xC6e00e0E3544C93460cdFb53E85C4528EF348265 is an operator wallet which is sometimes used to move tokens from Layer 1 to Layer 2.

1,250,783,000

25.02%

Bootstrap Liquidity

This will be used to provide rewards for liquidity mining during protocol genesis. Future liquidity mining rewards will be funded from treasury funds

500,000,000

10%

Staking Rewards

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.

500,000,000

10%

Team & Advisor

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.

499,217,000

9.98%

Private Sale

All SPA tokens have been vested under a strict vesting schedule of 1 year starting from 9/18/2021.

750,000,000

15%

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

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.

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

Bootstrap liquidity Arbitrum

Arbitrum

0xAF64e027D42bAc1C14277fd295De9Ae318eEF17E

SPA Buyback

The SPA that is bought back from the open markets using 50% of the auto-yield and 100% of the fees is stored in : 0xA61a0719e9714c95345e89a2f1C83Fae6f5745ef (Arbitrum One) SPA circulating supply sheet which is in Beta. It can be used to view the circulating supply breakdown for the token.

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