Proof of Usefulness Report

SperaxDAO

Analysis completed on 2/16/2026

+41
Proof of Usefulness Score
You're In Business

SperaxDAO is a functional DeFi protocol on Arbitrum with verifiable products (USDs, Demeter) and a market capitalization of ~$7M. However, the project's submission is severely undermined by exaggerated and false claims (e.g., audience reach being 'everyone' and traction described as 'most people have used my product'). While the technical implementation of auto-yielding stablecoins shows innovation, the project has suffered from a significant exploit (Feb 2023) and currently exhibits 'zombie' or micro-cap traction levels (<$10M MC) rather than the mass adoption claimed. The user also confused Market Cap with Revenue.

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Score Breakdown

Real World Utility+17.5
Audience Reach Impact+3.0
Technical Innovation+10.5
Evidence Of Traction+5.0
Market Timing Relevance+5.0
Functional Completeness+0.25
Subtotal+41.25
Usefulness Multiplierx0.99
Final Score+41

Project Details

Project URL
sperax.io
Description
Sperax USD launched USDs in December 2021 and is the leading stablecoin and yield automating protocol on Arbitrum. Sperax USD mints USDs, a 100% collateralized stablecoin. USDs is fully on-chain and generates organic yield for its holders by sending collateral into various delta neutral DeFi strategies. The yield is passed back to holders via a gasless rebase, unlocking the power of compounding interest with no action necessary from the end user. The SPA token is the governance token of Sperax USD. SPA token holders can benefit by staking SPA to gain governance power in the Sperax DAO, and also be a revenue sharing partner with USDs. A portion of the yield generated from USDs collateral is passed back to stakers of SPA, another portion is burned. This aligns incentives between the governors of the protocol, the SPA stakers, and USDs holders. Sperax USD launched the Demeter protocol in November 2022, a no-code farm launcher on UniV3. Anyone can build their own fully incentivized farm without any coding or technical expertise. Demeter protocol is fully audited and permissionless, serving as a key piece of decentralized infrastructure. For more information visit https://sperax.io/, or visit the dApp at https://app.sperax.io.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline