Sperax USD

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Counts all collateral locked to mint USDs.This collateral is either sent to DeFi strategies to produce an organic yield, or is stored in the VaultCore contract of the USDs protocol. Some TVL is classified as staking. This component of TVL consists of all SPA staked in Sperax’s veSPA protocol.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Sperax USD's governance or utility token carries a market capitalisation of $742K based on circulating supply at the latest DeFiLlama snapshot. Token market cap ($742K) and TVL ($750.6K) trade close together, giving a mcap/TVL multiple of 0.99× — broadly the range market participants treat as "fair" for an established DeFi protocol. A further $1M sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Sperax USD is published as a versioned release inside the Sperax protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Sperax USD is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Jan 5, 2022
   Listed on DeFiLlama

Sperax USD is a Yield Aggregator — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed across 2 chains, including Arbitrum, Ethereum. The codebase has been independently audited (2 reports on file).

Sperax USD operates on 2 networks (Arbitrum, Ethereum), keeping its surface area narrower than chain-agnostic peers. Roughly 100% of its on-chain value sits on just three networks (Arbitrum-staking, staking, Arbitrum), so a fault on any one of them would affect a large slice of users. Price feeds come from a single oracle provider (DIA); an outage or manipulation of that feed would propagate into every market the protocol prices. Two audit reports are published on DeFiLlama, which is in line with typical practice for protocols at this scale. Token market cap ($742K) and TVL ($750.6K) trade at a ratio of 0.99, in the range generally considered normal for an established DeFi protocol.

Verified external resources for Sperax USD — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Sperax USD is one of 7 Yield Aggregator protocols Mantapex tracks in this category. Direct peers ranked by total value locked include CIAN Yield Layer, Yearn Finance, Fluid Lite, and 3 more. These peer protocols collectively secure $1.2B in deposits, giving you a frame of reference for whether Sperax USD's own TVL is at the top, middle, or tail of the category.

CIAN Yield Layer

TVL $382.1M · 24h +6.83%

Yearn Finance

TVL $262.2M · 24h +1.32%

Fluid Lite

TVL $180.1M · 24h +0.74%

Beefy

TVL $153.3M · 24h +0.77%

Lulo

TVL $97.1M · 24h +0.54%

YO Protocol

TVL $78.3M · 24h +0.84%