xSPA token is live on @arbitrum . it drives emissions back to the ecosystem. it increases SPA burn. it increases USDs adoption.
18 Sep 2023, 09:01
🎉 xSPA token is live on @arbitrum !
🚀 it drives emissions back to the ecosystem
🔥 it increases SPA burn
✅ it increases USDs adoption
Currently, $SPA is emitted as bribes on the SPA Gauge and as rewards on Demeter. Liquid SPA emissions that haven't been staked create selling pressure.
Starting now, the SPA bribes on the Gauge will be distributed in the form of xSPA!
$xSPA offers three key benefits:
1️⃣ xSPA drives SPA emissions back to the ecosystem 🚀
Users can stake xSPA in the veSPA contract with a lockup period of 180 days or more to increase their staked SPA balance and staking rewards.
2️⃣ xSPA increases SPA burn🔥
- 1 xSPA redeemed within a maximum of 180 days gives 1 SPA
- 1 xSPA redeemed within a minimum of 15 days gives 0.5 SPA, with the remaining 0.5 SPA being burned
-1 xSPA redeemed in between 15 and 180 days gives less than 1 SPA but more than 0.5 SPA proportionally, with the remainder being burned
3️⃣ xSPA increases USDs adoption creating a looping effect✅
- Liquid SPA will be scarcer and thus more valuable
- Overall veSPA balance will increase as well as the participation in USDs protocol governance
Cast your vote and claim your $xSPA bribe here:
Stake xSPA for veSPA or redeem it for SPA here: