Spherium Finance Quarterly Updates: Q2/2023 Review and Future Outlook
Welcome to the latest quarterly update on Spherium Finance. As the bear market in crypto pushes on, with signs of a new bull market possibly emerging, we have been continuing to push forward ourselves, delivering many new key features throughout Q2.
In this article, we will delve into the key highlights and achievements of Spherium Finance during the second quarter of 2023 (Q2/2023).
We will explore the platform’s major developments, partnerships, community engagement initiatives, and future prospects.
Spherium Discord Launch
In Q2/2023, Spherium Finance successfully launched its Discord community, creating a space for active participation and engagement among community members. The launch was met with overwhelming response, as the Discord server reached an impressive milestone of 1000+ members within just one hour. This achievement demonstrates the growing interest and enthusiasm surrounding Spherium Finance’s ecosystem.
On HyperSwap Beta V1…
Spherium Finance focused on expanding utility and options for community members by introducing HyperSwap, a cutting-edge and time-efficient Automated Market Maker (AMM) exchange. Although the platform had plans to launch HyperSwap in Q2/2023, it was postponed due to market conditions. This decision reflects Spherium Finance’s commitment to prioritizing user experience and ensuring optimal conditions for a successful launch.
$SHPRI Trading Contest
To incentivize community members and promote active participation, Spherium Finance organized a trading contest centered around its native token, $SPHRI. Contestants were encouraged to trade a minimum of $20 worth of $SPHRI to gain access to a prize pool of $1,000 $BUSD. This initiative aimed to foster engagement and reward users for their support and involvement in the Spherium Finance ecosystem.
Spherium Finance introduced HyperStake, a staking feature, on the Arbitrum network during Q2/2023. HyperStake offered users diverse staking pools and allowed them to choose from various strategies to optimize their APY. Stakers can earn an APY of upto 17% by staking $SPHRI and 12% by staking $OK. Read more here
First AMA Session with Co-founder Sash and Okcash
To address questions and provide clarifications on various aspects of Spherium Finance’s ecosystem, the team conducted the first AMA session of the year. Co-founder Sash Jeetun and representatives from Okcash, a strategic partner, engaged with the community and discussed topics such as HyperStake, Airdrops, and HyperSwap. This interactive session aimed to enhance transparency, strengthen relationships, and provide valuable insights to community members.
HyperStake Launch Contest
To celebrate the launch of HyperStake and the partnership with Okcash, Spherium Finance organized a staking competition. Participants were invited to stake their $SPHRI and $OK tokens, with the added incentive of earning exclusive Non-Fungible Tokens (NFTs). This contest highlighted Spherium Finance’s commitment to engaging and rewarding its community members.
The second quarter of 2023 marked significant progress for Spherium Finance, with notable achievements such as the successful launch of the Discord community, the development of HyperSwap, the introduction of HyperStake on Arbitrum, and engaging community initiatives. These accomplishments underscore the platform’s commitment to innovation, community involvement, and the seamless integration of traditional finance with the world of cryptocurrencies. As Spherium Finance continues to pave the way for decentralized finance, the future holds great promise for the platform and its growing user base.