What is the current price of Sperax?
The current price of Sperax is $0.002603 with a 1.00% change in the last 24 hours.
Supply and ATH/ATL data provided by CoinGecko
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Sperax is a DeFi protocol best known for USDs, a fully collateralized stablecoin on Arbitrum that pays yield to holders automatically, with no staking or claiming. SPA is the protocol's governance and value-accrual token: holders lock it as veSPA to vote on USDs parameters and to earn a share of protocol fees and yield. Sperax matters because USDs was one of the first "auto-yield" stablecoins, where a wallet balance simply grows as the collateral earns yield in other DeFi protocols.
Recent Sperax branding centers on SperaxOS, described as an AI-agent layer for managing on-chain finances, built around USDs and SPA. Documentation is at docs.sperax.io and the app at app.sperax.io.
Sperax was founded in 2019. Its project materials list Jump Trading, Polychain Capital and Amber Group among its backers, and public profiles also name Outlier Ventures. The documentation focuses on the DAO rather than on individual founders, and the team's names are not prominent in official materials.
Key milestones from project sources:
USDs is minted by depositing approved stablecoin collateral, currently USDC, USDC.e and USDT on Arbitrum. The protocol mints 1 USDs per dollar of collateral, valuing collateral at the lower of its market price or $1 when minting, and at the higher of the two when redeeming, so the system stays fully or over-collateralized. Redeeming returns one unit of a chosen collateral minus a redemption fee.
The collateral does not sit idle. It is deployed into DAO-approved strategies, including lending markets and liquidity pools on Aave, Compound, Fluid, Stargate and Curve, each with a per-strategy cap. Yield from those strategies is split:
Auto-yield is capped (documentation cites a 25% cap), with any surplus kept in a reserve for leaner periods. Regular wallets receive the rebase by default; smart contracts must opt in.
Peg stability comes from the collateral valuation rules, the redemption fee, a pause on minting with any collateral that de-pegs by 3% or more, and a last-resort rule under which redeemers receive SPA from the treasury if collateral is insufficient.
Tokenomics documents show an initial supply of 5 billion SPA, with 25% to the treasury (vesting over four years from governance launch), about 25% to the foundation, and further allocations for liquidity bootstrapping and other purposes. Burns since launch have reduced total supply.
xSPA redemption follows a fixed formula: redeeming after 15 days returns 0.5 SPA per xSPA, after 180 days 1 SPA, and linearly in between.
USDs is a rare stablecoin whose yield reaches ordinary wallets automatically, without the user depositing into a vault or claiming rewards. Combined with a buyback-and-burn loop tied to real protocol yield rather than new emissions, the design links SPA to USDs usage in a transparent way.
Sperax is an application protocol, not a chain. Among yield-bearing stablecoins, it differs from Ethena's USDe, which earns from a delta-neutral derivatives position, and from Liquity, where users borrow a stablecoin against ETH. USDs is backed one-to-one by other stablecoins and earns from DeFi lending and liquidity, which makes its risk more about the underlying stablecoins and strategy protocols than about crypto price swings. Its ve-token governance resembles Curve's veCRV model.
USDs and SPA on Arbitrum inherit Arbitrum's rollup security, which settles to Ethereum. The protocol's smart contracts (vault, collateral manager, oracle, rebase manager and strategy contracts) are publicly verifiable, and Sperax states that its contracts have been audited; a bug bounty program has run since March 2024. Operational safeguards include per-strategy caps, pausing mints on de-pegged collateral, and the ability to pause the protocol manually if the collateral ratio falls by more than 10%. That last point also means some admin control remains.
Sperax showed that a stablecoin could pass yield straight to holders' wallets on a low-cost Layer 2, an idea later echoed by many yield-bearing stablecoins. For SPA holders, the protocol offers a clear mechanism linking token value to protocol revenue through fees, buybacks and burns.
SPA trades on centralized exchanges and on decentralized exchanges on Arbitrum and Ethereum. Official contract addresses:
0x5575552988A3A80504bBaeB1311674fCFd40aD4B (Arbiscan)0xb4a3b0faf0ab53df58001804dda5bfc6a3d59008 (Etherscan)0x1a9fd6ec3144da3dd6ea13ec1c25c58423a379b1 (BscScan)USDs itself is minted and redeemed directly in the Sperax app.
SPA has been listed on a number of centralized exchanges. Listings and supported networks change, so confirm the SPA pair and whether deposits are on Ethereum, Arbitrum or BNB Chain before transferring.
SPA and USDs are standard tokens on EVM chains and can be held in wallets such as MetaMask, Rabby or a hardware wallet like Ledger. To earn auto-yield, hold USDs in a regular wallet on Arbitrum. To stake, lock SPA through the Sperax app to receive veSPA.
Track Sperax live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Sperax on CoinRithm before using real money.
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Read the complete paper trading guideThe current price of Sperax is $0.002603 with a 1.00% change in the last 24 hours.
The daily trading volume is $1,154.14 representing a 38.92% change in the past 24 hours.
The market capitalization of Sperax is $6,338,315, ranking #723 globally.
The fully diluted valuation (FDV) of Sperax is $13,012,903, calculated assuming the maximum supply of 5,000,000,000 SPA is in circulation.
Circulating: 2,435,396,197. Total: 4,955,849,855. Max: 5,000,000,000.
In the last 24 hours, Sperax traded between a low of $0.002571 and a high of $0.002639.
SPA/USDTTether USDT0.002603 USDT
