Sperax

Company profile

Sperax company profile

Founded in late 2019, Sperax is a global technology firm building modern money with blockchain technology. Sperax has built a mobile application, Sperax Play, and is building a DeFi ecosystem with a suite of various products, including the automatic yield-bearing stablecoin SperaxUSD, synthetic assets, and derivatives products. With these products, Sperax aims to bridge the gap to the blockchain for both experienced and novice crypto users. SperaxUSD is a crypto collateralised algorithmic yield-bearing stablecoin using a dual token system - SperaxUSD stablecoin and its governance token, SPA. SperaxUSD is partially collateralized and partially backed by the protocol’s ability to mint SPA when redeeming USDs. This allows for SperaxUSD to operate like DAI during market contraction and UST during market expansion. Sperax’s mobile app, Sperax Play (which will be rebranded to Spark), plans to house an NFT marketplace and host Sperax’s Defi products to a global user base. Sperax Play currently has over 600k users, with plans to further expand into Q1 of 2022. Sperax is backed by Jump Trading, FBG Capital, Outlier Ventures, Steve Aoki, and more.