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    Sperax

    SPA

    @sperax

    Evaluation Score

    Overall rating on a scale of 0-10

    RiskReturn
    06.810
    Risk Level:
    Medium
    Recommendation:Hold
    Evaluated:January 12, 2026 (v8)

    Dimension Breakdown

    Development Activity6.5
    Community Health5.5
    Tokenomics6.8
    Market & Use Case6.8
    Team & Governance8.5
    Security & Audits6.8

    Whale Pulse

    Large transaction flow (>$10k)

    No whale transactions >$10k detected recently for SPA.

    AI Analysis

    Comprehensive evaluation of the token

    Sperax presents a mixed investment profile supported by a highly credible, VC-backed team and a robust governance structure, which are its strongest assets. The project's flagship product, USDs, addresses real market needs through its auto-yield mechanism, but it faces immense difficulty gaining market share against entrenched competitors like MakerDAO and Ethena. While the pivot to a 'Real Yield' model and recent buyback mechanisms have improved the tokenomic design, the project is weighed down by a significant supply overhang and ongoing inflationary pressure from vesting schedules. Development is active and professional, currently pivoting towards an AI/Agent narrative (SperaxOS) to revitalize interest. However, community engagement remains a weak point, relying heavily on external catalysts rather than organic growth. Security has improved significantly following a 2023 exploit, with Tier-1 audits now in place. Overall, SPA is a functional, legitimate protocol, but its upside is currently capped by saturation in the stablecoin sector and token supply dynamics.

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    Development Activity

    Code updates and developer engagement

    RiskReturn
    06.510

    Community Support

    Social media presence and community engagement

    RiskReturn
    05.510

    Tokenomics

    Supply, distribution, and utility

    RiskReturn
    06.810

    Market & Use Case

    Value proposition and competitive landscape

    RiskReturn
    06.810

    Team & Governance

    Team background and project governance

    RiskReturn
    08.510

    Security & Audits

    Security history and audit status

    RiskReturn
    06.810
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    About Sperax (SPA)

    Sperax (SPA)

    Sperax (SPA) is the governance and utility token powering the Sperax stablecoin protocol and decentralized finance ecosystem. Designed for on-chain governance, staking rewards, and cross-chain interoperability, SPA underpins a next-generation platform for issuing and managing stablecoins.

    Key Features

    • Decentralized Governance: SPA holders propose and vote on protocol upgrades, parameter changes, and treasury allocations.
    • Staking & Rewards: Stake SPA tokens to earn a share of network fees and ecosystem incentives.
    • Cross-Chain Interoperability: Bridged across Ethereum (ERC-20), Binance Smart Chain (BEP-20), and other leading networks for maximum liquidity.
    • Ecosystem Utility: Used for fee payments, liquidity mining, and community incentive programs.

    Use Cases

    • Stablecoin Collateralization: Secures and stabilizes the USDs stablecoin within the Sperax protocol.
    • DeFi Integration: Integrated with prominent AMMs, lending platforms, and Web3 wallets.
    • Community Governance: Empowers token holders to steer the protocol through on-chain voting and proposal mechanisms.

    Token Name: Sperax
    Symbol: SPA

    Discover how SPA drives the future of algorithmic stablecoins and DeFi innovation.

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