Spartan Protocol V2 Protocol Update

The Spartan Protocol is an automated market-making (AMM) protocol providing incentivized liquidity and synthetic assets on the Binance Smart Chain (BSC).

By
Rich
on
March 12, 2021
Category:
Project Insight

Introduction

After my last article about the Spartan Protocol that can be found HERE, the Spartan Protocol development has not been idle. The Spartan Protocol is a community-driven project that implements a simple yet efficient decentralized autonomous organization (DAO). The developers are a significant part of the community members that help #buidl the project.

The first thing that can be noticed straight away when visiting the Spartan Protocol site is the new landing page. It freshens up the UI utilizing community member artwork. The DAO has also updated the information on the various parts of the protocol. They did an excellent job because the text is easy to understand and explains how to use the product.


Liquidity Provision

The new "LP positions" page lets you look at your LP tokens' state and value, showing the initial value, current value, and additions or bonds. This addition makes it easy to track your investment. The user-friendly AI allows users to reallocate their funds seamlessly.

Liquidity providers are granted incentives and transaction fees from the protocol. The APY (annual percentage yield) is now shown next to each respective asset pool. The APY is calculated on the historical data of the pool; the shown APY can change! At the moment of writing, all pools will give an APY of at least 124% up to 293%

There currently are 15 tokens pools, supported tokens being:

  • $BNB
  • $USDT
  • $BTCB
  • $BUSD
  • $RAVEN
  • $ETH
  • $BIFI
  • $DOT
  • $BURGER
  • $ADA
  • $PROM
  • $CREAM
  • $GIV
  • $LINK
  • $XRP

To join these pools, you will have to pair the token with the native $SPARTA token to create an LP token and start earning the fees and incentives.


Summary

The $SPARTA token is already tradeable on centralized exchanges (CEX)  such as Binance and MXC. Decentralized exchanges (DEX) like PancakeSwap, BakerySwap, and Spartans own AMM have liquidity for the token as well. There will be another CEX added to the list, of which you can trade the $SPARTA token. The Indonesia-based TOKO exchange is a leading exchange. It has also listed the token, and it is tradeable in one pair BNB/SPARTA.

The TOKO exchange is collaborating with Binance and the Indonesian government regulatory authorities, building strong relationships.

Synthetics and lending are still in full development, and the team is making progress. A few things we can expect in the future are synthetics. Synthetic assets are pegged to another asset, making leveraged trades or lending possible.

A final release date is not given, but the developers are working on the protocol daily. It is only a matter of time before the products will be released. The Spartan team and community members are working hard to give us a safe and working product.


Final Thoughts

Spartan Protocol has made some nice improvements to the UI and made clear information on their website with the community's help. The APY's on the Pools is solid. The $SPARTA token is implemented into the protocol's liquidity. The token also maintains the project's governance token, something that gives the token use case and will also give some buying pressure for the token. Once the synthetics and lending contracts go live, the Spartan Protocol will have combined many different aspects of the De-Fi landscape. They utilize the best parts of other prominent protocols such as UniSwap, Thorchain, Synthetix, MakerDAO, and Vader/Vether Protocol.

The great community that has helped out a lot on various parts of the project keeps on growing. The Spartan Protocol will be a player of magnitude once their synthetics and lending products go live. The $SPARTA token will be the oil in the protocols machinery. Through its governance function, holders will have to think carefully before voting on propositions.

This all tells me that the future should be bright for the Spartans.

Are you interested in more information? Check out Spartan Protocol's website and social media.

Website

Twitter

Telegram

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Rich

Richard is a multilingual writer, located in the Netherlands, husband and father, cryptocurrency and tech enthousiast enjoys long walks and bicycle rides. Fervent Binance Smart Chain projects promotor.