The Sperax team has been heads down developing our technology tirelessly. Understaffed, it took us some extra time to accomplish our first milestone of 2021. You won’t read any sentimental review in this article. The point is we made it.
Today, we launched our first product — Sperax Play (Play) V.1.
Sperax Play is a mobile app whose initial utility is a decentralized crypto wallet where users have full control over their accounts. Ultimately, Play will grow into a community hub for Speraxians, crypto enthusiasts, and everyone interested in decentralization.
Let me walk you through how Play works exactly, so you’ll better understand why Play is destined to become the gate between you and a distinct DeFi community.
Play provides a decentralized wallet system
- Since SPAs are currently ERC-20 tokens on Ethereum, Play V.1 will connect to the Ethereum blockchain. In the future, Play will connect to every platform where SPAs reside with emphasis placed on Sperax’s own BDLS blockchain.
- In V.1, users can create a new Ethereum address or choose to import an existing one. Similar to Metamask, users have full control of their wallets on Play.
- Users can send tokens to any other Ethereum address via address, contact or QR code.
- Play currently supports the mainstream ERC-20 assets, and will continue adding high-quality cryptos to its asset list.
Add friends and create your hubs
- Users can add friends via addresses or QR codes.
- Your Snowball team is your community! Begin building one by inviting contacts.
- Play will incorporate group chat rooms & direct messages among contacts only.
Mine your rewards like Snowball
Two things will take place in the future.
- First, your reward points will be convertible to SPAs at a certain rate on quarterly/annual basis in the future. The conversion rate for Phases 1 and 2 will be determined by the Sperax Foundation based on the number of snowball participants. Following that it will be determined by the community. All the SPA tokens will be from the Ecosystem allocation.
- Second, the rewarding rate will be deflated depending on the community size; when the numbers of registered users surpass certain thresholds, the mining rate will decrease. The exact mechanism will be determined by DAO. Hence, I encourage you to register as early as possible in order to maximize your mining opportunities.
Note: there is no pre-mining. Everyone starts the same. Below is the Snowball mining mechanism:
- A mining cycle is 24 hours. You need to manually restart mining after each cycle.
- Basic Computing Power, i.e. mining rate, is 1xp/h.
- Each time your invitee successfully joins your Snowball team, you gain extra 0.25 xp/h of Basic Team Bonus.
- If one of your invitees is actively mining, you gain extra (Basic Computing Power*0.2 + Basic Team Bonus*0.2)*25% xp/h of Active Team Bonus.
If Alice invites Bob and Charlie to her Snowball team, her Basic Team Bonus will be 0.25*2=0.5 xp/h. If Bob and Charlie are both actively mining, Alice gains extra (1*0.2 + 0.5*0.2)*25%*2=1.5 xp/h.
In total, Alice gets 1.5 xp/h.
Hence, the more friends you successfully invite and the more actively they mine, the more bonus Computing Power you will receive as rewards. When you have more Computing Power, you’ll be able to mine faster and accumulate more reward points!
Claim your airdrops on Play for bonuses
Sperax will launch multiple rounds of airdrops throughout 2021. If you claim your airdrops on Play, you will receive extra rewards. For more details on the first three rounds, which will take place throughout February and March 2021, an announcement will be published tomorrow.
Sperax Play Blueprint
Sperax Play V1.1 (expected in Q2)
- Incorporate multi-language version
- Individual Asset Value shown and Total Asset Value shown (need to connect to a third party price feed)
- Integrate Push Notification function
- Adjust the content of asset details page and add a pull-down refresh function
- Publish a homepage banner for important Sperax announcements
- Add snowball ranking competition
- Introduce more features in account profiles
2. Sperax Play V1.2 (expected in Q3)
- Showcase NFT feature
- Incorporate a one-click link to Uniswap liquidity pool
- Incorporate community/team chat room
if you can enter my code upon registration.