Layer 2 Web3 Jobs in Asia

Launched in 2020, Sperax is headquartered in NYC. After envisioning a Sperax Layer 1 blockchain, the team transitioned to building the first auto-yield-bearing stablecoin: Sperax USD (USDs).

In December 2021, Sperax released USDs on L2 Arbitron. Residing on-chain, USDs is backed by collateral and algorithmically by the protocol’s ability to mint $1 worth of SPA when redeeming $1 of USDs. USDs combine the scalability benefits of algorithmic stablecoins with the stability benefits of collateralized stablecoins.

USDs holders benefit from native auto-yield, meaning that holders automatically earn yield without having to stake or claim. The yield is generated organically from the collateral deployed on external Defi protocols like Curve Finance.

Sperax’s roadmap is to construct a full-stack Defi ecosystem based on USDs. As the USDs ecosystem expands through organic and partnership growth, the team plans to vitalize the L1 conceived during the company’s incipient stage.

Sperax has received $7 million in early funding. Sperax is backed by Polychain Capital, Jump Trading, Alameda Research, Amber Group, and DJ Steve Aoki.