Sphere Finance Announces v2 Arrives April 29th and Provides Short-Term Roadmap
Published on April 25th, 2022 | Updated on April 25th, 2022 | By FanFest
Sphere Finance continues to roll full-steam ahead towards version two of its contract. The new protocol is set to arrive on April 29th. There remain a lot of questions about the future of Sphere, but this weekend a fair amount of information was released to give its investors an idea of what’s to come. Along with this information, Sphere released an awesome video on one of its newest innovations, Quantum Liquidity.
Sim, the lead developer and founder of Sphere Finance, released a post to the Sphere Discord followers the following:
“I am overwhelmed. In a good way. We’ve already received over 100 code review requests! Thanks! So far everyone who has seen the code has nothing but praise! Clean, streamlined, organized. I can’t wait to start V2 with you all. It will be our next step in our development.
Small roadmap for the launch of V2: – Binary rebasing —> What is binary rebasing? —-> Simple, it’s a technique to calculate all the missing rebases and output them all at once, imagine the blockchain had a failure. Rebases would be lost during this time, but now Binary Rebasing saves all missing rebases and issues them all at once as if you were rebasing during the blockchain outage!
Dynamic tax 2.0 —> Improved dynamic control logic!
TetuSwap NATIVE DEX –> SPHERE is moving to its own DEX! Yes, you heard right. We will operate on our DEX provided by Tetu. Tetu will be running the DEX so the SPHERE team can work on expanding the $SPHERE ecosystem! —> We are working with DEX aggregators to improve routing for our users so you have the best prices for buying and selling $SPHERE in the whole ecosystem (more on that, thoon) —> This will enable TetuSwap to be accessed by the entire Polygon community, creating incentives to use TetuSwap as the main DEX of Polygon —> Any exchange of $SPHERE will burn tokens!! Adding a new deflationary mechanism that will speed up the event horizon!
Quantum Liquidity –> A revolutionary new utility coming with our DEX! —> It will take our liquidity pool and start farming with it! This is something totally novel in the whole space, we’re going to have a youtube video thoon explaining in detail how awesome Quantum Liquidity is (and how every other project not utilising QLaaS is losing out on $$$!)!
What comes after V2?
You thought that’s all?
Haha, let’s rrrrrrrrrroll! – Galaxy Marketplace (mid-May)
Dystopia + Penrose (mid-late May) –> Dystopia will be our stable AMM, teaming up with Terra Luna, Frax & QiDAO to bring deep liquidity to the Polygon ecosystem and effectively SPHERE!
DYSON v1: Our wrapped token (early May)
Quantum Liquidity as a Service (May) –> Expansion of our DEX to BSC to bring more customers on board! –> Onboarding Polygon & Fantom protocols into QLaaS
Massive Mystery Acquisition #1
Massive Mystery Acquisition #2
Massive Mystery Acquisition #3
$gSPHERE (mid/late May) —> a new token for the $SPHERE ecosystem! —-> $gSPHERE is our $SPHERE game token —-> You can convert a maximum of 1 Day Rebase into this new token, with a 24 hour cooldown (thus, you can only exchange your rebases)! —–> You can play with $gSPHERE without losing your capital! ——> You thought S.P.H.E.R.E. Games would be the only game we have? We are just getting started
I wish I could talk a bit more about even more utility items coming to SPHERE, but for now, that should be sufficient for you nerds. The Face Melting V2 Phase begins on the 29th of April, 2022. Buckle up.”
What wasn’t emphasized but is definitely one of the most compelling advances for Sphere in version two is the Perpetual APY.
The issue with current APY in most projects is that protocols really doesn’t care what happens. These APYs could go on forever, but will they be able to actually back the tokens and pay out for each and every one of them. The simple answer is no. Perpetual APY changes this.
Perpetual APY means the APY will always be sustainable and dynamic to what the market says about the project.
The APY can increase as more people sell, then decrease as more people buy. It will adjust to always be sustainable. There is no inflation from the APY any longer. It is fully backed by the revenue from the protocol. There is nothing out there like it. The best way to think of Perpetual APY is a scale. On one side you have, “a lot of buys which will result in a lower APY because it is unnecessary to have a high APY and inflate if you you have heavy price appreciation.” On the other side of the scale you have a lot of sales, which, “means less people are in the protocol and more to distribute from the treasury,” therefore causing the APY to go back up. This is a constant balancing mechanism that will create a daily APY that is sustainable.
SPHERE wants to actually back it’s APY, not create an arbitrary number just to attract investors and then fail. This creates a long-term, daily return on the project, solving the inflationary problem that other projects run into.
If you’ve got a few minutes, you can also watch and check out Sphere’s YouTube video on Quantum Liquidity.
To learn more, visit Sphere Finance.
To track $SPHERE, visit here.
Join the Sphere Community on Discord, visit here.
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