Sperax is another blockchain with a stablecoin. A new kind of consensus is being used, which the team calls SperaxBFT. In the blockchain, in addition to the native token that was released in September of 2020, there is a financial layer with its own stablecoin. The first private round was priced at 1 cent, the second at 2 cents. The current price of Sperax (SPA) can be seen on this page. 

Sperax, founded in late 2019, is an open-source development team that builds software products based on the Sperax protocol. Using the Sperax (SPA) token at its core, Sperax creates a crypto-backed algorithmic stablecoin pegged to the US dollar and a set of DeFi applications, including the Sperax Play mobile app for cloud earning.

What are Sperax’s key features and how does it work?

To solve stablecoin shortcomings, Sperax has created $USDs, which is a decentralized stablecoin where supply tracks demand and generate revenue. So, when the market demands more $USDs by raising $USDs above $1 on exchanges, arbitrageurs will mint $USDs for sale, capitalizing on the difference.

SperaxUSD, just like most coins based on blockchain, is not censored or controlled by any single entity. The SPA token holders are the ones who control the entire system. As the system gets more robust, the future collateral and token bridges will be determined by the token holders.

Sperax token has a special wallet known as Sperax Play. This wallet allows keeping not only SPA but also other cryptocurrencies. Just like any other wallet, it allows holders to send and receive cryptocurrency, save contacts. 

An additional feature of this application is the ability to mine Sperax. The app will show mining speed, how many XP one has earned, and the possibility to invite other people to get more points. Although XP is not cryptocurrency or token, these experience points can be converted to the official Sperax coin SPA. The conversion ratio will be determined by Sperax Foundation & DAO through voting.

What makes Sperax noteworthy?

Sperax USD ($USDs) is a USD-pegged stablecoin that automatically generates passive income and Sperax's first stablecoin on an Ethereum Layer 2 solution - Arbitrum (ARB). It is backed by collateral like other stablecoins. However, this coin returns profits to its holders. The hybrid stablecoin is backed by a whole set of assets that are reinvested to provide a passive income in proven smart contracts and maintain a stable peg algorithmically.

Sperax has a few features that make it noteworthy:

The team behind Sperax believes that as technology advances, priority should be given to improving the financial well-being of all people, especially those who are less fortunate and more vulnerable to global financial hurdles. Thanks to this, the possibilities that open up before everyone who uses Sperax are endless. 

Where can you buy Sperax?

To buy Sperax (SPA), you first need to acquire an Ethereum (ETH) or another cryptocurrency. Then, you can exchange that cryptocurrency on any CEX or DEX exchange of your choice. 

Under the Markets tab, you can check out which exchanges have already listed SPA and what SPA pairs are available for trading, including the respective price of SPA. If you would like to learn more about SPA price, market cap, and other token data, check out this page.