Sperax is a blockchain built around a stablecoin concept. The team introduces a consensus approach they call SperaxBFT. Besides the native token launched in September 2020, Sperax also includes a financial layer featuring its own stablecoin. The first private funding round was set at 1 cent, while the second was priced at 2 cents. You can view the current price of Sperax (SPA) on this page. 

Sperax, created in late 2019, is an open-source development group that produces software based on the Sperax protocol. By using the Sperax (SPA) token as its foundation, Sperax issues a crypto-collateralized algorithmic stablecoin pegged to the US dollar, along with a range of DeFi tools, including the Sperax Play mobile app aimed at cloud earning.

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

To address common stablecoin limitations, Sperax designed $USDs, a decentralized stablecoin where supply responds to demand and also produces revenue. When the market pushes for more $USDs-such as when $USDs move above $1 on exchanges-arbitrage participants mint new $USDs to sell, capturing the spread.

SperaxUSD, like many blockchain-based assets, is not subject to censorship or centralized control. The system is governed by SPA token holders. As the network matures, future decisions about collateral and token bridges are expected to be made by token holders.

The Sperax token can be stored in a dedicated wallet called Sperax Play. This wallet supports not only SPA, but also other cryptocurrencies. As with any wallet, it enables users to send and receive crypto and to store contacts. 

Another function in the application is the ability to mine Sperax. The app displays mining speed, how many XP you have earned, and an option to invite others to earn more points. While XP is not a cryptocurrency or token, these experience points can be converted into the official Sperax coin, SPA. The conversion rate is set by the Sperax Foundation & DAO via voting.

What makes Sperax noteworthy?

Sperax USD ($USDs) is a USD-pegged stablecoin that automatically generates passive income and represents Sperax's first stablecoin on an Ethereum Layer 2 deployment-Arbitrum (ARB). It is collateral-backed like other stablecoins, but it also routes profits back to token holders. This hybrid stablecoin is supported by a portfolio of assets that are reinvested into proven smart contracts to deliver passive income while keeping a stable peg through an algorithmic mechanism.

Sperax includes several features that make it stand out:

The Sperax team states that as technology progresses, improving the financial well-being of everyone-especially those who are less privileged and more exposed to global financial challenges-should be prioritized. Because of this vision, the opportunities for users of Sperax are described as wide-ranging. 

Where can you buy Sperax?

To buy Sperax (SPA), you need to get an Ethereum (ETH) or another cryptocurrency first. Then, you can trade it for SPA on any CEX or DEX exchange you prefer. 

In the Markets section, you can see which exchanges have already listed SPA and what SPA trading pairs are available, along with the corresponding SPA price. If you want to explore more about SPA price, market cap, and other token information, check out this page.