Sperax
Crypto Overview
Purpose and Utility
Sperax (SPA) is the governance token for the Sperax ecosystem, which aims to create a decentralized stablecoin protocol on the Arbitrum network. The SPA token provides governance rights and utility within the Sperax ecosystem, particularly in relation to the USDs stablecoin.
Business Model
The core business model revolves around the USDs stablecoin protocol, which uses SPA for governance and protocol operations. The protocol generates revenue through transaction fees and protocol operations, which are distributed to SPA stakers.
Real-World Adoption
Sperax has achieved notable adoption within the Arbitrum ecosystem, with their USDs stablecoin being actively used. The protocol has established partnerships within the DeFi space and maintains regular development activity.
Platform Development
The project maintains active development on Github and regularly updates its protocol. The team consistently releases updates and improvements to the platform.
Token Distribution
The token distribution includes allocations for the team, investors, and community. Team tokens are subject to vesting schedules to align long-term incentives.
Revenue Model Analysis
The primary concern from a Shariah perspective is that the protocol's core functionality involves interest-bearing mechanics through lending and borrowing operations. The stablecoin protocol generates yield through lending activities, which is problematic from an Islamic finance perspective.
Crypto Impact
To assign a comfort level investing in Sperax from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Sperax.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.