What is Sperax (SPA)?
SPA is the native token of Sperax, which is a global technology company that focuses on providing an infrastructure for the development of decentralized finance (DeFi) products and services. The main product of Sperax is USDs, which is a stablecoin that has an integrated auto-yield mechanism. USDs holders can earn up to 11% APY due to its auto-yield feature.
Make sure to check out the live SPA price displayed on the Sperax price chart above.
The Purpose of SPA Tokens
There are two main use cases for SPA tokens – staking and governance.
By staking Sperax tokens on Ethereum or Arbitrum users can receive staking rewards, which are gathered from a portion of USDs yields and the Sperax protocol fees. In addition to that, they also receive veSPA tokens, which are SPA tokens locked with the vote escrow mechanism.
This is where the second use case of SPA tokens comes into play – governance. veSPA holders can participate in the process of decision-making regarding the further development of the Sperax crypto project. The longer they keep their SPA tokens locked up, the bigger the voting power they have.
Tokenomics of SPA
The max supply of Sperax tokens is 5 billion. This means that the token is deflationary. Besides, Sperax employs a buyback mechanism to keep constant buying pressure on Spreax coins. How does it work? Sperax takes a portion of USDs yield and protocol fees to buy SPA tokens from the market.
In addition to that, as the popularity of the USDs stablecoin expands, SPA tokens get burned. As time goes by, the SPA burning rate might increase.
If you’re considering buying Sperax coins, make sure to analyze the SPA price chart above because it will help you determine the main patterns in the Sperax price changes.
