SPA Staking & Governance Guide
The Sperax governance system uses a vote-escrowed model: lock SPA to get veSPA, which gives governance voting power and protocol fee rewards.
Token Overview
SPA — Governance & Value Accrual
| Property | Detail |
|---|---|
| Chain | Arbitrum One |
| Address | 0x5575552988A3A80504bBaeB1311674fCFd40aD4B |
| Value accrual | 30% of USDs yield + 100% of protocol fees → buyback-and-burn |
| Also on | Ethereum: 0xB4A3B0Faf0Ab53df58001804DdA5Bfc6a3D59008 |
veSPA — Governance Power
Lock your SPA for 7 days to 4 years to receive veSPA:
veSPA = SPA × (lockup_days / 365)
- Minimum lock: 7 days
- Maximum lock: 4 years (1,461 days)
- Decay: veSPA decays linearly toward your lock expiry
- Rewards: 100% of USDs protocol fees + 420,000 xSPA/week
Example: Lock 1,000 SPA for 2 years → receive 2,000 veSPA (decaying over time)
xSPA — Reward Token
xSPA is the reward distributed to veSPA stakers weekly (Thursdays UTC).
| Option | What happens |
|---|---|
| Stake xSPA → veSPA | 1:1 ratio, but requires ≥180-day lock |
| Redeem xSPA → SPA | 0.5–1.0 SPA over 15–180 days |
Redemption formula:
Receivable SPA = (xSPA × (redeemDuration + 150)) / 330
- Redeem over 15 days → ~0.5 SPA per xSPA
- Redeem over 180 days → 1.0 SPA per xSPA
Staking Walkthrough
Step 1: Get SPA on Arbitrum
Buy SPA on Arbitrum One via any DEX (Camelot, Uniswap). If you have SPA on Ethereum, bridge it to Arbitrum first.
Step 2: Lock SPA → veSPA
- Go to app.sperax.io
- Navigate to the Staking section
- Choose lock duration (longer = more veSPA)
- Approve and lock SPA
Step 3: Earn Rewards
- Fees: Distributed weekly in USDs
- xSPA: 420,000 xSPA distributed weekly (per SIP-66)
- Claim: Visit the Staking page to claim accumulated rewards
Step 4: Manage xSPA
Choose to either:
- Stake into veSPA (1:1, but requires ≥180-day lock)
- Redeem to SPA (0.5–1.0 ratio based on vesting period)
Governance Process
Sperax uses a 4-phase governance model:
| Phase | Activity | Duration |
|---|---|---|
| Phase 0 | Discord ideation | Open-ended |
| Phase 1 | Forum SIP proposal | 48-hour discussion minimum |
| Phase 2 | Snapshot vote | 3 days, veSPA-weighted |
| Phase 3 | Engineering implementation | Varies |
Voting: Snapshot.org with veSPA weighting
- Quorum: 200M veSPA
- Passing: >50% Yes votes
Snapshot: https://snapshot.box/#/s:speraxdao.eth
Key Contracts (Arbitrum)
| Contract | Address |
|---|---|
| SPA | 0x5575552988A3A80504bBaeB1311674fCFd40aD4B |
| veSPA Proxy | 0x2e2071180682Ce6C247B1eF93d382D509F5F6A17 |
| xSPA | 0x0966E72256d6055145902F72F9D3B6a194B9cCc3 |
Agent Tips
When helping users with SPA staking:
- Emphasize the tradeoff: longer lock = more veSPA = more rewards, but less liquidity
- xSPA redemption: longer redeem period = better ratio (max 1:1 at 180 days)
- Check current APYs at app.sperax.io before recommending
- Governance requires veSPA — you must lock SPA first
Links
- Sperax App: https://app.sperax.io
- Sperax Docs: https://docs.chat.sperax.io
- Governance Forum: https://snapshot.box/#/s:speraxdao.eth
- SperaxOS: https://chat.sperax.io