We are witnessing a growing number of LSTs, LRTs, & stablecoins across ecosystems.
As new assets emerge, they would require a liquidity venue that brings utility, efficiency & composability.
Tapio’s Self-Pegging Asset (SPA) is designed to serve exactly this purpose. 🧵
2/ SPA token is a rebasing token minted by depositing into correlated pools (ie, wstETH-WETH).
Over time, it automatically boosts your balance with protocol yield while preserving exposure to ETH or other underlying assets. #LST #stablecoins
3/ SPA token is NOT a typical LP token. It is a new form of asset engineered for:
- Maintains a stable peg against the underlying correlated assets
- Accrues diversified yield (ie. swap fees)
- Enables ultra-efficient swaps between correlated pairs (ie. low slippage)
- Unlocks full DeFi composability
4/ With no lock-up, it offers sustainable yield via swap fees in Tapio’s AMM, native staking yield from LSTs & protocol rewards. SPA’s stable peg and ongoing returns ensure long-term value for correlated assets.
5/ SPA introduces a robust self-pegging mechanism enforced by arbitrageur traders seeking for exchange rate premiums and discounts via Tapio’s StableSwap AMM.
This natural stability holds firm even in volatile periods, boosting trust in emerging LSTs or stablecoins.
6/ Meet wSPA (ERC-4626), SPA token’s wrapped version!
It integrates seamlessly into DeFi, enhancing liquidity & adoption for emerging assets, which is a must for asset issuers.
7/ wSPA token accrues value with a fixed balance and unlocks instant DeFi utility, making it ideal for collateral in lending, yield vaults, etc. It can be used as highly effective collateral on @PikeFinance on Day 1 of launch.
8/ SPA & wSPA serve as a fundamental building block for new and maturing LST, LRT and stablecoins. Ready to supercharge your assets?
Join us:
Learn more:
9/ End tweet
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