August 8, 2024
SPArtans ⚔ Welcome back to the monthly news
The Month of July brought us many upgrades and a lot of progress. The fields are ripe with opportunity, and we're thrilled to share a bountiful harvest of news with you this month. USDs auto-yield stands at 28.33 % APY and Demeter 2.0 Farms are getting 50-100% APR. Read on to learn more about these developments.
Demeter 2.0: A New Era of Growth
Demeter, our beloved farming platform, has blossomed into an even more powerful tool for your financial growth. Demeter 2.0 is now Live, offering enhanced features, a streamlined interface, and even more ways to maximize your yields. We've listened to your feedback and poured our passion into creating an experience that empowers you to cultivate your financial future.
Incredible Farm Incentives: Your Rewards Await
Get ready to reap the rewards! Our farms are now offering an extraordinary range of incentives, with APRs soaring from 50% to a staggering 100%. This is your chance to plant the seeds of your financial dreams and watch them flourish like never before. Explore our diverse range of farms and find the perfect plot to cultivate your success.
Incredible Farm Incentives: Your Rewards Await
Get ready to reap the rewards! Our farms are now offering an extraordinary range of incentives, with APRs soaring from 50% to a staggering 100%. This is your chance to plant the seeds of your financial dreams and watch them flourish like never before. Explore our diverse range of farms and find the perfect plot to cultivate your success.
Farming Rewards Extravaganza
To celebrate this exciting chapter, we're releasing a massive airdrop of 250,000 ARB tokens and 32 million SPA/xSPA tokens through our farms over the next 10 weeks. It's our way of saying thank you for being an integral part of our vibrant community. Join the harvest and claim your share of this abundant token shower.
Other Updates
Updated USDs collateral as paper SIP-62
Closed 2 legacy Demeter Farms and 3 farms will be closed later (SIP-64)
Demeter contracts have been audited, verified, and made public. The audit report is available here.
UI Upgrades and other Fixes
New Fronted Launched for Demeter 2.0 with light and Dark Mode
Updated Supgraph datapoints on dApp analytics for better analytics
Enabled a smart contract to earn auto-yield so that multisigs and contracts can earn auto-yield
Resolved Demter 2.0 bugs to make the interface better and more user friendly.
SIPs
SIP-63: Demeter 2.0 - Launch an updated Demeter Version with a Steady APR (Passed)
SIP-64: Closing Old Demeter Farms - To close 5 Demeter Legacy Farms (Passed)
SIP-65: SPA Token Burn From Treasury - Burn 20% SPA token of total supply from treasury (Quorum Not Reached)
SIP-66: Sperax Revenue Share - increase the revenue share for USDs holders, increase SPA burns, and identify a risk mitigation strategy - (Active)
The Future is Bright
As we embark on this new era of growth and prosperity, we're filled with gratitude for your unwavering support. Together, we're building a thriving ecosystem that empowers everyone to achieve financial freedom. Here’s a brief list of what we are currently working on.
Zapp Functionality
Retail Partnerships for USDs
New USDs Farms and Incentives
On-Chain Governance
Idea paper on Sperax DEX
Idea paper on CDP Stablecoin
Stay tuned for more updates, events, and opportunities to connect with fellow community members. The harvest season is just beginning!