FAQ
Who are the developers behind Spectrum Protocol?
We are a small team of three developers focusing on smart contracts and platform development from Thailand. We have experiences in IT consulting and enterprise application development.
Why you decide to build the platform on Terra Blockchain?
We love Mirror, our pain point is that we need to collect rewards everyday. So, we build an auto-compound, but we would love to keep MIR too, that's why we also have auto-stake strategy.
There is around 3M SPEC minted for developer fund. How can we make sure that this pre-minted SPEC will not be used to dump SPEC price?
We fully understand your concern. The 3.5M SPEC has been transferred to the locked contract and will be released over 3 years as the community fund.
What is the different between APR and APY?
APR (Annual Percentage Rate) is the yearly interest rate without compounding investment profits to the original principal. If you invest $100 with 50% APR, you will earn $50 profit in a year.
APY (Annual Percentage Yield) is the yearly interest rate with compounding effect that occur from the reinvestment of profit regularly. For example, if you invest $100 with 50% APR and compound your profit every day, you will earn $64.82 profit in a year or 64.82% APY. You can use APR to APY calculator to calculate the APY with different APR and compounding frequency. Learn more about simple and compound interest from Investopedia's article.
What is the current auto-compound schedule?
All vaults auto compound roughly every hour. Compound once for everyone to optimize fee.
Why the APR is so high?
The majority of APR is from the value of SPEC rewards released at fixed rate (2.5 per block) to every vaults and it will be declined over time as amount of LPs and number of vaults are growing. The fees will be used to buy back SPEC to create buying pressure and maintain the SPEC price.
What is the different between auto-compound and auto-stake?
With auto-compound, Spectrum help you to collect MIR rewards, and automatically reinvest for you (Your LPs will be increased). For auto-stake, Spectrum collect MIR rewards and auto-stake MIR rewards into Mirror Gov (Your MIR rewards will be increased). You will receive SPEC rewards (with auto-stake) for both strategies. You can also mix between two strategies by provide different portion of LPs.
Where can I learn more about Spectrum Protocol?
You can check our official documentation at https://docs.spec.finance or check out the smart contracts at https://github.com/spectrumprotocol/contracts
What is the roadmap of Spectrum Protocol?
We have many things that we want to do and we plan for the long term. Please check our roadmap for the details and progress. Any comment and suggestion are always welcome.
Where is the price chart?
You can check the price chart for Spectrum token at CoinGecko, coinhall, TefiApp, and Terraswap Dashboard.
Why the name is Spectrum Protocol?
We start with the yield optimization for Mirror Finance. Imagine the light reflected from Mirror as your single reward, we want our platform to refract that reward into a wide range of spectrum hence the name Spectrum Protocol.
Last modified 1mo ago
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