Buy Sperax (SPA)
What is Sperax?
Sperax (SPA) is a cryptocurrency and the native utility token of the Sperax ecosystem, which is a blockchain-based financial platform. The platform aims to revolutionise traditional finance through decentralised finance (DeFi) solutions .
How does Sperax work?
Sperax operates on both the Ethereum and Arbitrum networks, leveraging their scalability and security. It uses a governance-based consensus mechanism where SPA tokens are staked to receive veSPA, enabling holders to participate in decision-making and earn rewards. Sperax utilises smart contracts to manage its ecosystem, particularly the USDs stablecoin protocol, automating yield generation by routing collateral through audited DeFi protocols .
What are the potential use cases for Sperax?
Sperax has multiple potential use cases including governance and staking, value accrual, and yield generation. It supports decentralised finance (DeFi) solutions, offers a stablecoin (USDs) with an auto-yield feature, and can be used in arbitrage and trading. Real-world applications involve decentralised lending, borrowing, and stablecoin yield automation. Sperax is used across various industries, including financial services, DeFi, and cryptocurrency trading .
What is the history of Sperax?
Sperax was founded in 2019 in New York City, originally focusing on Layer 1 blockchain development. In 2020, it transitioned its focus to the development of the auto-yielding stablecoin USDs. Key milestones include the release of the USDs stablecoin on Arbitrum in December 2021 and the introduction of the xSPA reward token in 2023 to enhance governance participation and ecosystem growth. Over time, Sperax has evolved from a Layer 1 blockchain to a dual-token algorithmic stablecoin protocol .
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Frequently Asked Questions (FAQs)
What is the current price of Sperax (SPA)?
The Sperax price is $0.02282029 AUD, representing a -6.93% from the day prior.
Where is the best place to buy Sperax (SPA) in Australia?
The best place to buy Sperax (SPA) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Sperax (SPA) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Sperax (SPA)?
The trading volume of Sperax (SPA) is $1.6M AUD in the last 24hrs, representing a -6.93% from the day prior.
How can I buy Sperax (SPA)?
Sperax (SPA) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Sperax (SPA)?
The current market cap of Sperax (SPA) is $43.7M AUD.
Can I convert Sperax (SPA) to cash?
Yes - With Coinstash you can convert your Sperax (SPA) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Sperax (SPA) are there?
The current circulating supply of Sperax (SPA) is 1.9B.
Is Coinstash a safe place to buy Sperax (SPA) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Sperax (SPA) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.