Bringing You The Latest Ecosystem News

With February 2024 coming to a close, the Sphere ecosystem continues to build and push forward in a rapidly evolving DeFi space. With unwavering commitment and a suite of new updates showcasing our progress, we are thrilled to share the milestones achieved this month.

The past month’s focus has been on improving our community’s user experience, and enriching the ecosystem that make Sphere a unique player in DeFi today.

Now, without further ado, let’s begin!

Sphere Ecosystem Roadmap Update

Sphere Finance (🔮,💜) on Twitter: "Sphereans, we're excited to announce Sphere's updated roadmap for 2024 - for now 🗺️As we reflect on massive growth since launch in 2022, this renewed vision carries us into the next phase of growth and beyond.So let's find out what this means for Sphere - with a caveat 👇🔮... pic.twitter.com/CmyR1HcYxw / Twitter"

Sphereans, we're excited to announce Sphere's updated roadmap for 2024 - for now 🗺️As we reflect on massive growth since launch in 2022, this renewed vision carries us into the next phase of growth and beyond.So let's find out what this means for Sphere - with a caveat 👇🔮... pic.twitter.com/CmyR1HcYxw

Our roadmap has always been a testament to our ambition and dedication. This month, we made several key updates to our roadmap that underscore our commitment to innovation, security, growth, and effective communication with our community.

Notably, the removal of past achievements in order to better showcase upcoming milestones and major plans stands out as a significant step towards enhancing our ecosystem’s utility and adoption. This streamlining helps to highlight our ecosystem’s mission and vision, and thus acts as a stepping stone towards a more interconnected and widely adopted Sphere ecosystem aiming to set new industry standards.

You can explore the newly-updated roadmap yourself here: sphere.finance/roadmap

Worth noting is the fact that this is not the final edition of the new roadmap.

More announcements are yet to come, so join our Discord community server to stay tuned for all major updates.

Join the Sphere Finance Discord Server!

Sphere Treasury Report for Q4 of 2023

Transparency and accountability remain core tenets of Sphere — the release of our Q4 2023 Treasury Report is a reflection of this ethos.

Sphere Finance (🔮,💜) on Twitter: "DeFi markets may fluctuate, but our commitment never wavers.This week we presented our Q4 2023 Treasury Report 👀Q4 saw milestones, lessons, and a renewed dedication to leading with value 💜As we recap our performance, know that community benefit drives every decision 👇... pic.twitter.com/pr04DVw40I / Twitter"

DeFi markets may fluctuate, but our commitment never wavers.This week we presented our Q4 2023 Treasury Report 👀Q4 saw milestones, lessons, and a renewed dedication to leading with value 💜As we recap our performance, know that community benefit drives every decision 👇... pic.twitter.com/pr04DVw40I

The report highlighted several key points, including:

• Our treasury’s health,
• Various operational achievements e.g. $STAR partnerships,
• Strategic direction into Q1 of 2024 and beyond.

Despite the challenges posed by market volatility, our treasury management strategies have been robust, forward-thinking, and aligned with our long-term goals, especially in light of upcoming plans in the near future, like Preon V2 and Sphere V3.

Our treasury’s performance, detailed in the report, demonstrates our ability to navigate through the complexities of the crypto market, ensuring sustainable growth and value for our community.

The Release of Dyson 2.2.0

Dyson, the Sphere ecosystem’s multichain yield maximizer, has received a major new update.

The release of Dyson 2.2.0 brings a host of performance enhancements, UI updates, and bug fixes. Most notable of all is the integration of a new API that gives insights into valuable analytics.

Dyson (🔺,⭐) on Twitter: "Today's the day, Dysoneers 👀We're excited to announce the launch of Dyson 2.2.0 🥳This latest version packs in some major upgrades that will empower users with more insights and control!Here's everything you can expect 👇This launch represents our team's tireless efforts... pic.twitter.com/utF1DlxfNC / Twitter"

Today's the day, Dysoneers 👀We're excited to announce the launch of Dyson 2.2.0 🥳This latest version packs in some major upgrades that will empower users with more insights and control!Here's everything you can expect 👇This launch represents our team's tireless efforts... pic.twitter.com/utF1DlxfNC

You can now view a detailed asset breakdown for our auto-compounding vaults, letting you see precisely how your funds are allocated.

The API also surfaces key fee information, so you can make more informed decisions when interacting with Dyson’s vaults.

Additionally, we have also introduced a standardized structure with the new API, meaning that all strategies released will include these expanded metrics. We will also introduce further metrics in the future to enhance your experience even more.

On top of these data transparency improvements, Dyson 2.2.0 focuses heavily on boosting performance — you can now enjoy faster page loads and a smoother UX through:

• Upgraded infrastructure,
• Code optimizations.

We are also happy to announce that that Dyson 2.2.0 is live on DeFi Llama! Experience the new Dyson on DeFi Llama through the link: https://defillama.com/protocol/dyson

This update is a leap towards making yield farming and maximization more accessible and efficient for our users. Dyson’s new launch enhances your experience on the platform, and empowers you with a deeper look into analytics, enabling you to make more informed decisions.

DIA Provides $SPHERE a Price Feed

In a significant step forward in our partnership with DIA, a live price feed has now been provided by DIA for the $SPHERE token.

Sphere Finance (🔮,💜) on Twitter: "Hey Sphereans, we are pleased to announce that $SPHERE has been given a @DIAdata_org price feed💜. / Twitter"

Hey Sphereans, we are pleased to announce that $SPHERE has been given a @DIAdata_org price feed💜.

This integration ensures that our users have access to accurate and real-time price information. It’s a move that not only benefits our community but also strengthens our ecosystem’s infrastructure, making it more resilient and dependable.

Looking Into The New Month

As we conclude the latest edition of the Monthly Report, it’s clear that Sphere Finance is growing and thriving. The updates to our roadmap, the insights from our treasury report, the advancements in Dyson, and the integration with DIA, all reflect our commitment to excellence, transparency, and community empowerment.

Our vision for Sphere is vast, but with each step, we are turning it into a tangible reality. As we continue to build and expand, we are grateful to have you with us on this journey. Together, we are actively building a better DeFi, shaping a decentralized future that empowers Sphereans through the best utility the space has to offer.

Thank you for your unwavering support. The road ahead is bright, and with your trust, we are set to redefine the boundaries of DeFi.

Bringing You the Latest Ecosystem News

The new year has kicked off with immense momentum for Sphere Finance and its expanding ecosystem of trailblazing DeFi protocols. From deepening collaborations to deliver enhanced utility, to overcoming obstacles and emerging stronger, January has marked monumental strides toward Sphere’s goal of becoming a one-stop DeFi destination.

This month’s Report recaps the flurry of developments bringing Sphere into 2024 at full speed. Read on for details on the DIA Data integration, Mean Finance partnership, Dyson exploit response, and version 2.1.2 patch.

DIA Oracle Integration

Reliable data is crucial for DeFi platforms to function properly. That’s why Preon is thrilled to announce our integration with DIA Data — a decentralized oracle network providing transparent, real-time price feeds for over 3,000 crypto assets.

By supplying customized data sourced from 80+ top DEXs and CEXs, DIA grants Preon access to accurate market information to power our lending, yield generation, and token pricing utilities.

For starters, we are leveraging DIA’s feeds to build a STAR/USD price oracle, ensuring precise valuations across collateral and loan positions. As on-chain activity grows, precise data will prove vital in calculating borrowing capacity, managing liquidity pools, and informing user decisions.

Earlier in the month, the Preon team raised a proposal to the Arbitrum Assembly for the DIA community to vote on. This proposal was for an oracle gasdrop grant to fuel the STAR/USD price oracle, and the results were incredible — a 100% approval rate, with the grant being delivered to the Sphere Ecosystem multi-sig address on Arbitrum.

Ultimately, reliable data infrastructure lays the foundation for Sphere to scale sustainably over the long run. Integrating DIA fortifies core systems, driving us toward an ambitious yet achievable vision.

Mean Finance: Capital-Efficient DCA

In another strategic partnership, Sphere has teamed up with Mean Finance — a leading decentralized DCA protocol allowing seamless token conversions with optimized trade execution.

Specifically, Mean Finance offers gasless, MEV-protected DCA swapping of assets like $ETH, stablecoins, governance tokens, and more. By dividing trades into periodic instalments, users mitigate volatility risk and reduce the impact of price spikes.

Integrating Mean Finance introduces a valuable new utility for Preon’s $STAR stablecoin. Users can now easily DCA into any ERC20 token on Arbitrum using borrowed $STAR, unlocking flexible capital for market entry without selling collateral holdings.

With gasless swaps and yield farming in a zero-interest loan, this collaboration unlocks a world of opportunities for conveniently accessing markets using $STAR. Sphere is thrilled to partner with innovative DeFi agents like Mean Finance to expand utility and convenience for our users.

Response to Dyson Exploit

While recent progress remains incredibly encouraging, no rapid growth ever comes without obstacles along the way. In mid-January, several Dyson vaults were targeted by flash loan manipulators — resulting in approximately $148,000 worth of funds extracted.

As promised, our team promptly conducted a comprehensive analysis with Simsala taking the lead in the investigation to determine root causes and formulate an action plan.

In summary — deficiencies existed in the calculations dictating LP share returns within Dyson’s concentrated liquidity model, enabling attackers to artificially spike pool valuations if liquidity lacked sufficient depth.

By aggressively swapping one asset side to an extreme price then depositing into the target vault, the inflated valuation skewed Dyson’s minted share calculations. The exploiter then exited with an excess of shares derived from the temporary price exaggeration.

With deep apologies to all users impacted, we want to reinforce that full reimbursements are underway. Simply withdraw positions from Chronos and deposit tokens to our official multi-sig address within 30 days (until the 16th of February) to claim 100% compensation.

Additionally, in the interests of complete transparency, we have published further details outlining exactly how the exploits operated in each case. Please review the incident report for more clarity.

These flash loan attacks have illuminated shortcomings that we are proactively addressing across audits, concentrated liquidity dynamics, and pool structures. Though an undeniably difficult lesson, the breakthroughs achieved in understanding critical vulnerabilities will equip our developers to implement cutting-edge protections against all future attack vectors.

We recognize trust must be re-earned, and remain fully committed to compensating users while recreating an environment of unprecedented security for all products under the Sphere umbrella.

Dyson Version 2.1.2 Patch Notes

On the brighter side of Dyson updates, our developers recently rolled out version 2.1.2 — delivering some handy quality-of-life improvements for the platform!

This latest patch focuses on minor visual enhancements and useful feature additions, including:

• Tidying up UI elements like tables, pagination, and filters
• New paused flag feature which displays the status of the vault

Though only a small incremental update, these types of revamps aim to refine and polish the user experience over time. As Dyson continues rapidly expanding to new chains and strategies, we appreciate the community’s valuable feedback for informing impactful upgrades along the way.

Please explore the changes first-hand, and let us know your thoughts! Ongoing community input steers products in the most constructive direction possible.

Dyson | Part of the Sphere Finance Ecosystem

Into the Future

And with that, we wrap up our first 2024 edition of the Sphere Monthly Report. Despite some turbulent moments, January proved one of tremendous progress and learning.

Crucial integrations with leading protocols like DIA and Mean Finance established will pay dividends for a long time to come in expanding access and utility for users. And our response plan in the aftermath of an exploit communicated full accountability to do right by those affected.

With obstacles overcome and partnerships forged, the stage is set for major achievements as we press onward through Q1 2024. Sphere’s ascent relies on input from our remarkable community members and believers in our mission of pushing DeFi to the limits.

We welcome all to join us on Discord and X as we turn vision into reality!

Join the Sphere Finance Discord Server!

Bridging Chains and Building Community

As 2023 draws to a close, the staff at Sphere Finance pauses to reflect on a year marked by continued innovation despite challenging market conditions. Furthering the team’s track record of continuous building, the Sphere Ecosystem persevered by doubling down on our core values of decentralization, community empowerment, and striving to provide true utility.

This final edition of the Sphere Monthly Report for 2023 offers a glimpse into that journey. We’ll explore new community-building initiatives, an enhanced user experience, and a holiday surprise for our community members.

Without further ado, let’s dive in!

Introducing Community Awards

Kicking things off, Sphere hosted our Community Awards event inside of our Discord celebrating members who epitomize our ideals of knowledge sharing and collective empowerment. Spanning thought leadership to inspirational support, winners will receive recognition across five categories:

• Aged Better Than Wine: For unearthing the timeless gems inside of our community that have aged like fine wine
• We Will Miss You: A heartfelt message for members who are and will be missed
• “I Told You So”: Called many accurate predictions
• Strongest Supporter: Constant source of encouragement and camaraderie
• Masterful Mind: Next-level thinker bringing valuable perspective

We congratulate all nominees and winners while expressing immense gratitude to our members. Without this passionate, engaged community, Sphere could never have navigated 2023 nor continue trailblazing into the future.

Winners will be announced today in our community Discord server, so don’t forget to join!

Boosting Community Engagement

In that same vein, this month Sphere introduced an exciting new Engage category on Discord. This integration incentivizes members to amplify X posts and attend Spaces events through a points-based reward system.

Participants earn credits for social media interactions which translate into exclusive community perks, awards, and prizes. These include token gifts, raffle giveaways, and more!

By gamifying real-world amplification, Engage helps broadcast Sphere’s message to a wider audience while empowering deeply committed members. Let your voice be heard and start racking up points today!

Join the Sphere Finance Discord Server!

Updating User Experience

Speaking of the future, major front-end upgrades have been implemented, which have enhanced cross-platform workflows. Beyond a visual overhaul, Dyson 2.1.0 introduced increased mobile compatibility along with handy usability touches like simplified navigation, informational tooltips, and instant data updates.

Searching, managing, and sharing positions now prove quicker than ever. Descriptive vault tags give clarity into strategy mechanics. Pages load rapidly courtesy of a blazing-fast multi-call architecture. Simply put, we oriented the entire design around user needs for a frictionless and intuitive encounter.

The development team wasted no time building upon that foundation. Just a day later, version 2.1.1 launched featuring a host of commonly requested community suggestions. Users gain on-demand insights into yield breakdowns including USD values and $SPHERE amounts. One-click copy functionality lets you easily share exciting vault discoveries.

We’ll continue this agile development cadence responding directly to user feedback. By perfecting a best-in-class experience that feels uniquely yours, Sphere strengthens its position as the go-to hub for simplified DeFi engagement.

Prioritizing Security and Responsibility

While ambitious integrations proceeded, security and accountability remained fixed priorities. Upon receiving vulnerability disclosures, the Sphere development team instantly communicated potential risks and implemented patches.

We temporarily paused Dyson and Preon functionality related to the affected wallet connector package. After the issue’s resolution, our team rigorously tested for exploits before reopening access.

Transparency proves vital when evaluating developer competence. We pledge continued diligence monitoring threats, conveying status updates, and applying fixes that entirely mitigate dangers before restoring services. Users come first always.

Rebuilding Data Reporting: Q1-Q3 Treasury Report

Sphere also delivered its much-anticipated Q2 Treasury Report after rebuilding manual tracking processes requiring months of meticulous data reconciliation. We reconfigured tools to compile accurate records, enabling streamlined production of future editions.

The release of the Q3 Treasury Report quickly followed, allowing our community to alayze and digest the data from both quarters in one go.

The reports analyze income, expenditures, token emissions, and other statistics while assessing performance given the turbulent market climate. Sphere strategically stockpiled stable assets as a hedge against volatility, minimizing risk compared to less conservative projects chasing unsustainable yields.

While the journey spanned difficulties, challenges incite growth. We matured from short-sighted speculation toward sustainable business operations. Future communications will unveil more details around staff restructuring, redundancy planning, and the roadmap guiding us into the next epoch of DeFi.

Wrapping Up An Eventful Year

As we conclude a remarkable 2023, Sphere appears poised to carry positive momentum into the new year. Despite the harsh external climate, our protocols not only survived but expanded ecosystems, formed new partnerships, upgraded products, and coalesced as an empowered community.

While challenges inevitably lie ahead, the roadmap seems bright courtesy of real-world utilities like professional on-chain asset management, tokenized trading, yield optimization, and decentralized lending/borrowing with stablecoins.

We hope you’ve enjoyed these regular reports offering transparency into Sphere operations. As always, we welcome your thoughts and suggestions toward improving communications and better serving our remarkable members.

Join the Sphere Finance Discord Server!

Here’s to an incredible 2024 furthering our shared vision of an open, inclusive financial system! We’re so grateful you’re along on this journey with us.

Onward and upward,

The Sphere Team

Bringing You the Latest Ecosystem News

Welcome to the first edition of the rebooted Sphere Monthly Report — your one-stop destination for all things Sphere!

After a brief hiatus and switch up, we are ecstatic to relaunch this community touch-point and provide a transparent window into the inner workings of the Sphere Ecosystem. Consider this your inside scoop into the key developments and updates across our suite of trailblazing DeFi protocols.

In this inaugural edition, we cover:

• Sphere’s Appearance in an Arbitrum AMA
• A Recap of Sphere’s Value Proposition
• Fun Halloween Activities for the Sphere Community

And more. So without further ado, let’s dive right in!

Sphere Bringing Innovation to Arbitrum

Kicking things off, we are thrilled to report that Sphere participated in a riveting AMA hosted by the Arbitrum Foundation. With CryptoPhat representing Sphere as the special guest, our team had the opportunity to introduce the Arbitrum community to the immense utility offered by Sphere and its ecosystem of protocols. You can listen to the full AMA here.

As you know, Preon Finance first launched on Arbitrum. Immediately positioning itself and its native stablecoin, $STAR, as a liquidity bridge between Arbitrum and other chains, Preon provides Arbitrum users with instant access to yield opportunities across various chains. Sphere chose Arbitrum as Preon’s initial home due to Arbitrum ecosystem protocols’ emphasis on collaboration and alignment with Sphere’s values of decentralization and security.

Overall, Sphere adds a wealth of capital efficient strategies to enrich Arbitrum’s thriving ecosystem. Our suite of protocols, including Preon and Dyson, equip users to maximize the yield of their crypto portfolios — all while accruing value to Sphere’s treasury and the $SPHERE token.

Preon Hosts AMA with Zero Protocol on zkEVM

In more recent news, Preon Finance held an insightful AMA with Zero Protocol, a promising new project built by Retro Finance that recently launched on Polygon zkEVM.

As a long-standing partner of Retro, Zero joins the Sphere ecosystem by proxy. Specifically, Preon has previously teamed up with Retro to make the AMM platform a hub for $STAR liquidity on Polygon PoS.

The AMA revealed plans for Preon to supply $STAR liquidity directly on Polygon zkEVM using Zero as the liquidity venue. By depositing $STAR into Zero’s yield-bearing pools, users can earn substantial APRs. The competition created between liquidity providers ensures they put forth the most powerful yield solutions for users.

Furthermore, Dyson will launch auto-compounding vaults, turning deposited Zero LP tokens into set-it-and-forget-it yield machines. Those receipt tokens can then be used as collateral to borrow more $STAR — making Preon the first CDP enabling users to leverage UniV3-style LP tokens.

Retro-Ichi Vault

Shifting gears, let’s discuss the Sphere treasury strategy of employing a Retro LP managed by Ichi Foundation. This blue-chip LP utilizes Retro’s unique UniV(3,3)-style structure for concentration of liquidity within efficient bounds.

On top of optimizing capital efficiency through Ichi, this vault also benefits from Dyson’s auto-compounding to maximize yields. The LP tokens can then be supplied as collateral on Preon Finance.

Gradually, this position decreases Preon borrow risk while generating yield via Retro. That yield gets compounded back into the position. Accordingly, users gain increasing capacity to borrow $STAR over time and direct it toward Retro and Zero opportunities on Polygon PoS and zkEVM.

By bridging PoS and zkEVM, $STAR provides seamless liquidity between the two scaling solutions.

Revisiting Sphere’s Core Value Proposition

For those less familiar with Sphere, let’s do a quick recap.

Sphere Finance aims to become a DeFi meta-governance hub, with $SPHERE token holders earning yield sourced from across its growing ecosystem.

By compiling the most optimized versions of popular DeFi utilities, Sphere solves problems for both users and projects. The end goal is a suite of protocols with governance and rewards funneled to $SPHERE holders.

With in-house protocols like Dyson and Preon, Sphere can amplify yield for its community. As $veSPHERE unlocks, holders gain control over the very direction of the ecosystem.

Ultimately, $SPHERE intends to provide exposure to a diversified crypto portfolio with forced appreciation over time. Holders reap the gains as Sphere’s flywheel of value accrual kicks into high gear.

Halloween Comes Early with Sphere’s Spooky Celebration

And now, for some fun! In the Halloween spirit, Sphere is hosting a series of seasonal events and competitions for our ghoulish community.

From October 30th-31st, the Sphere Discord will be transformed into a virtual haunted house. Join us for a horror story contest, trivia, gaming sessions and more as we bring the creepy-crawly cheer of All Hallows’ Eve to DeFi!

Sphere Finance (🔮,💜) on Twitter: "🎃Beware all who enter🎃Sphere's haunted Halloween contest will chill you to the bone 😱Dare to:🔮share spine-tingling tales🔮test your horror movie knowledge🔮stream screams in our DiscordPrizes await the bravest souls...Will your nightmares win? Let the terror begin!... / Twitter"

🎃Beware all who enter🎃Sphere's haunted Halloween contest will chill you to the bone 😱Dare to:🔮share spine-tingling tales🔮test your horror movie knowledge🔮stream screams in our DiscordPrizes await the bravest souls...Will your nightmares win? Let the terror begin!...

Beware the shadows and be sure to come in costume — this party is one you won’t want to miss!

The Future is Bright with Sphere

And with that, we close the book on the first edition of Sphere Monthly Report: Rebooted! We hope you enjoyed this transparent glimpse into the inner workings of Sphere and our ecosystem protocols.

As always, thank you for supporting our mission to push DeFi innovation to its limits. We can’t wait to continue building with our extraordinary community!

If you haven’t already, be sure to join us on Discord and follow Sphere’s official X account. The future looks bright, and we want you along for the ride!

This Week in Sphere Ecosystem News & Updates

Hey Sphereans! Welcome to the latest edition of the Sphere Weekly Report, your digest of all the news, updates, and developments in the Sphere Ecosystem. This week, we have plenty of exciting news to share from our team.

From new yield opportunities to notable partnerships and project updates, it’s been a busy week at Sphere. Let’s delve into the details.

$OVN Launch for Overnight Progress

We kick off this report with some major news. We are delighted to join Overnight Finance’s launch of their native token, $OVN. As Overnight’s launch partner for the highly anticipated $OVN token, Sphere and Overnight bring together a wealth of experience and expertise to the table in this collaboration. To mark this milestone, a special campaign has been curated and designed exclusively for Sphereans.

Overnight.fi (USD+) - Vanguard of DeFi on Twitter: "@SphereDeFi is teaming up with us as our launch partner for the $OVN token.🚀 Join our special campaign, designed exclusively for the Sphere Finance community!The presale has already begun!Hurry up, grab your $OVN whitelist spot now! 👉https://t.co/vTrlp3XeDq pic.twitter.com/QvI3CgnYVz / Twitter"

@SphereDeFi is teaming up with us as our launch partner for the $OVN token.🚀 Join our special campaign, designed exclusively for the Sphere Finance community!The presale has already begun!Hurry up, grab your $OVN whitelist spot now! 👉https://t.co/vTrlp3XeDq pic.twitter.com/QvI3CgnYVz

The presale for $OVN is already underway, and we highly encourage all Sphereans to secure their whitelist spots promptly. Overnight’s deep industry knowledge and proven track record make for a perfect partner for Sphere during $OVN’s highly-anticipated launch.

Enhancing Returns and Stability

Continuing with some morepositive news from our team: we are actively working on identifying new and more lucrative yield opportunities to enhance the vAPR and provide better returns to our users. Our relentless pursuit of innovation and efficiency is geared towards maximizing the benefits for our community.

Our latest projects are showing promising signs as well. We are pleased to report that more revenue is starting to flow in from these initiatives, contributing to the overall sustainability and growth of $ylSPHERE. This progress is a testament to our team’s dedication and the robustness of our strategies.

However, we want to highlight that there may be delays in both reductions and increases in revenue when reflected in $ylSPHERE payouts. These delays are part of the natural dynamics of the market, and we are navigating them with the utmost diligence.

In the long run, we have a plethora of innovative ideas in development to help smooth out these fluctuations and ensure a more stable and rewarding experience for all of our users. Your continued support and patience are greatly appreciated as we work towards creating a more robust and sustainable ecosystem.

Dyson x Preon: Amplifying Yield Farming

$STAR’s yield farming opportunities continue to offer an exciting avenue to earn lucrative returns on your deposits in the DeFi space. By leveraging Dyson’s auto-compounding capabilities and the stable yields of one of the most powerful stablecoin pairings, the $USDR/$STAR pair, you can take your yield farming game to new heights. With Pearl Exchange as your trusted ve(3,3) DEX, you can rest assured that your farming experience will be secure, efficient, and rewarding. Start amplifying your yield farming today and unlock the full potential of DeFi!

Dyson (🔺,⭐) on Twitter: "Time for an update, Sphereans!All eyes may be on our game-changing CDP protocol, @PreonFinance, but don't let that fool you. ❌Dyson, our yield amplifying solution, has been revving up in the background, ready to burst into the DeFi universe. 💪Let's take a tour! 🧵👇1/n / Twitter"

Time for an update, Sphereans!All eyes may be on our game-changing CDP protocol, @PreonFinance, but don't let that fool you. ❌Dyson, our yield amplifying solution, has been revving up in the background, ready to burst into the DeFi universe. 💪Let's take a tour! 🧵👇1/n

Dyson, our innovative yield maximizer and CL ALM protocol, is designed to maximize your yield farming potential. By leveraging the $USDR/$STAR pair, you can enjoy stable yields while benefiting from the auto-compounding feature. Auto-compounding allows you to reinvest your earned yields automatically, compounding your returns over time without any manual intervention. This means your initial deposit keeps growing, leading to exponential growth in your farming rewards.

Pearl Exchange, one of the longest-standing ve(3,3) DEXs and Solidly forks, serves as the perfect platform to utilize Dyson’s auto-compounding capabilities. With Pearl Exchange, you can seamlessly execute trades and leverage the autocompounding feature provided by Dyson. The ve(3,3) structure ensures robustness, security, and a proven track record, making Pearl Exchange a trusted venue for your yield farming needs.

Milestone: Preon Hits $2M in Total Collateral

In other exciting news, Preon has hit a significant milestone with over $2M in total collateral deposited. This achievement reflects the growing trust and participation in our ecosystem. Furthermore, partnerships continue to be forged, and $STAR yield farming opportunities are going strong, adding to the vibrancy of our platform.

The accumulation of more than $2 million in total collateral deposited on Preon signifies a resounding vote of confidence from our community, to whom we are incredibly grateful. Users recognize the reliability and potential of our platform. This milestone underscores the trust placed in Preon’s infrastructure, protocols, and governance mechanisms. It is a testament to our commitment to providing a secure and transparent environment for users to engage in DeFi.

Integration: MakerDAO’s $DAI in the Preon Universe

We are thrilled to announce that MakerDAO’s stablecoin $DAI has officially become a part of the Preon universe. As the Peg Stability Module (PSM) asset on Polygon, users now have the opportunity to seamlessly exchange their $DAI for $STAR at a 1:1 ratio. This integration marks a significant milestone for both Preon and MakerDAO, strengthening the peg stability of $STAR and opening up new avenues for users to engage in the vibrant Preon ecosystem.

The integration of $DAI into the Preon ecosystem enables users to convert their $DAI holdings into $STAR effortlessly. By utilizing the 1:1 exchange ratio, users can transition between these two tokens seamlessly, unlocking new opportunities within the Preon universe. This conversion mechanism is designed to provide users with flexibility and accessibility, while maintaining the integrity of the peg stability.

Preon Finance (🌟,👨‍🚀) on Twitter: "Well well, Preonauts... what do we have here? 👀@MakerDAO's $DAI has found its way into the Preon universe 🌐As the Peg Stability Module (PSM) asset on @0xPolygon, its presence has been felt. Already, a few hundred thousand $STAR minted & the peg is stronger than ever! 🌟 pic.twitter.com/17EqKXnkfS / Twitter"

Well well, Preonauts... what do we have here? 👀@MakerDAO's $DAI has found its way into the Preon universe 🌐As the Peg Stability Module (PSM) asset on @0xPolygon, its presence has been felt. Already, a few hundred thousand $STAR minted & the peg is stronger than ever! 🌟 pic.twitter.com/17EqKXnkfS

The addition of $DAI as a PSM asset on Preon has had a profound impact on the peg stability of $STAR. By establishing a direct 1:1 exchange rate, the integrity of the peg is reinforced, ensuring that $STAR maintains its value. This development instills confidence in the Preon ecosystem, attracting more users and fostering a stronger foundation for the future growth and adoption of $STAR.

Since the introduction of $DAI as a PSM asset on Preon, we have witnessed the creation of several hundred thousand $STAR tokens through this conversion mechanism. This outcome highlights the enthusiasm and demand from users to participate in the Preon ecosystem and benefit from the opportunities presented by the integration of $DAI. The successful minting of $STAR further solidifies its position as a sought-after asset within the DeFi landscape.

Hot Pools: $STAR Paired Stable Pools

$STAR paired stable pools are experiencing unprecedented popularity and engagement. Among these pools, the TangibleDAO x Preon’s $USDR pool stands out as a leader in terms of deposited value. This pool presents users with an exceptional opportunity to maximize their returns while operating in a stable and secure environment.

This pool’s unique features, such as the TangibleDAO x Preon collaboration, enhanced security measures, the stability of $USDR, and transparent governance, make it an exceptional choice for users seeking a stable and secure environment to maximize their returns. We invite users to explore TangibleDAO x Preon’s $USDR pool and experience the benefits it offers within the dynamic Preon ecosystem.

Update: Preon Reveals Massive Front-End Update

We are thrilled to announce a significant update to the front-end of the Preon platform. With the introduction of the Metrics tab in the Earn page, users now have access to an array of powerful tools that will revolutionize their yield farming experience. This update includes an APR calculator and an ROI calculator specifically designed for Preon’s vaults. These essential metrics will empower users to make informed decisions, optimize their yield farming strategies, and maximize their returns.

Preon Finance (🌟,👨‍🚀) on Twitter: "Calling all farming fanatics 🚜Welcome to Preon's Ultimate Guide to yield farming 🌟Let's trek through vast fields of yield, showcase our analytics & how easy Preon makes it to start YOUR farming journey w/ a bang 💥Buckle up Preonauts; we're going on a DeFi space odyssey🧵 / Twitter"

Calling all farming fanatics 🚜Welcome to Preon's Ultimate Guide to yield farming 🌟Let's trek through vast fields of yield, showcase our analytics & how easy Preon makes it to start YOUR farming journey w/ a bang 💥Buckle up Preonauts; we're going on a DeFi space odyssey🧵

The Metrics tab within the Earn page represents a major milestone in Preon’s commitment to enhancing user experience and providing comprehensive tools for successful yield farming. This tab houses two essential calculators: the APR calculator and the ROI calculator. These calculators offer users valuable insights into the potential returns and performance of Preon’s vaults, enabling them to make data-driven decisions.

As the name implies, the APR calculator is a powerful tool that allows users to estimate the APR for each of Preon’s vaults. By inputting various parameters, the calculator provides users with an accurate projection of the potential yield they can expect to earn. This information is vital for users to assess different vaults, enabling them to allocate their assets strategically. The ROI calculator complements the APR calculator by providing users with a comprehensive understanding of their projected investment performance. This in-depth analysis ensures that users have a holistic view of their investment journey, facilitating effective decision-making and risk management.

Wrapping Up

That’s all for this week’s Sphere Weekly Report. We are excited about the progress we are making and the opportunities we are creating for our users. As we continue to innovate and expand, we look forward to bringing our users along on this journey and providing them with the best possible yield farming experience.

Thank you for your continued support and trust. Stay tuned for more updates, join our community Discord server, and happy farming!

Join the Sphere Finance Discord Server!

Yours in innovation,

Sphere Finance

Disclaimer: This article is intended for informational purposes only. It is not intended to be financial advice. Always do your own research and consider your financial decisions carefully.

This Week in Sphere Ecosystem News & Updates

Hey Sphereans, and welcome to the latest installment of the Sphere Weekly Report, your one-stop source for all the exciting updates in the Sphere Ecosystem. This week, we delve into a range of topics, from the unlocking of a new Preon-related category in our community Discord server to the debut of Preon on Polygon and the unveiling of Dyson 2.0. Let’s get started!

Preon Unlocked in Sphere Community Discord

Our community Discord server now boasts a new category dedicated to Preon, an essential part of the Sphere Ecosystem. Sphereans can now access all channels relating to Preon, enabling them to engage in discussions, access documents and resources, and receive all the latest Preon news. Join the conversation and interact with fellow Preonauts in the Preon chat today!

Join the Sphere Finance Discord Server!

Debut of Preon on Polygon

In a significant ecosystem expansion, Preon also took Polygon by storm. This breakout moment features a powerful liquidity pool on Retro, facilitated by voting power and bribing.

Retro on Twitter: "Well. I think @simsalacrypto made it clear... @PreonFinance is serious about $STAR pic.twitter.com/06DUa4Q0gU / Twitter"

Well. I think @simsalacrypto made it clear... @PreonFinance is serious about $STAR pic.twitter.com/06DUa4Q0gU

Users can mint $STAR with $wETH & $wstETH (Arbitrum) or $wMATIC, and bridge freely across both chains. Alternatively, they can deposit into Retro and earn a powerful APR in $oRETRO or into Chronos to earn some exciting APR on there as well. Bridging is simple and cost-effective via the Preon dApp, which has a built-in Bridge that operates using LayerZero technology. Furthermore, $wMATIC has been introduced as collateral, demonstrating Preon’s progressive approach to collateral additions and use cases across multiple ecosystems.

Preon Finance (🌟,👨‍🚀) on Twitter: "🤝 Preon x @Retro_finance: Unlocking Stablecoin Yields on @0xPolygon$STAR paired stable pools on Retro have surpassed an impressive ~$2.1M in TVL 💪1️⃣ CASH / STAR2️⃣ tUSDC / STAR3️⃣ ERN / STARHere's to much more in the future 🥂 pic.twitter.com/QxQ5lQdsLB / Twitter"

🤝 Preon x @Retro_finance: Unlocking Stablecoin Yields on @0xPolygon$STAR paired stable pools on Retro have surpassed an impressive ~$2.1M in TVL 💪1️⃣ CASH / STAR2️⃣ tUSDC / STAR3️⃣ ERN / STARHere's to much more in the future 🥂 pic.twitter.com/QxQ5lQdsLB

Speaking of Retro…

Preon: Pools and Partnerships

Preon is the Sphere Ecosystem’s latest and most ambitious project to date, and is revolutionizing the world of CDP protocols with its innovations in making collateral yield-bearing. It accomplishes this via a number of clever integrations and synergies with other protocols both within and outside of the Ecosystem. One of these mechanisms includes yield farming using deposited collateral.

This mechanism is working brilliantly, and Preon’s latest farms are seeing tremendous success. Preon, along with our friends at TangibleDAO, have bribe-matched and put up $10K in bribes with our partners, Pearl Exchange, for the $STAR/$USDR stablecoin pool. Depositors into this pool benefit from a powerful APR leveraging a pair of the most reliable stablecoins in all of DeFi.

As a side note, $USDR is the first stablecoin backed by tokenized, yield-generating real estate, from TangibleDAO.

Pearl on Twitter: "Our partners @PreonFinance and @tangibleDAO are putting up $10k in bribes for the $STAR - $USDR stable pool on Pearl.Current APR: 39%Use $STAR to unlock crypto liquidity without selling at https://t.co/pjSaBx98JR pic.twitter.com/BhDH0jumjT / Twitter"

Our partners @PreonFinance and @tangibleDAO are putting up $10k in bribes for the $STAR - $USDR stable pool on Pearl.Current APR: 39%Use $STAR to unlock crypto liquidity without selling at https://t.co/pjSaBx98JR pic.twitter.com/BhDH0jumjT

Another Preon pool that is seeing great success is the $STAR/$ERN pool offered on Retro. $ERN is another powerful over-collateralized stablecoin by ByteMasons. This commemorates our new partnership with Ethos Reserve, a protocol powered by $OATH that is building a next-generation stablecoin on Optimism. Depositors into this pool benefit from a great vAPR, making this a lucrative deposit for yield farmers looking to put their stablecoins to work. Once again, Preon has bribe-matched Ethos Reserve with $1600 on $ERN/$STAR 30 bps and 100 bps. Although this is the same pool, different fee tiers are incentivized.

Preon Finance (🌟,👨‍🚀) on Twitter: "Stable pools galore 🌟🗣️ Introducing: Preon x @EthosReserve$ERN is an over-collateralized stablecoin from our frens @ByteMasons!Powered by @Retro_finance on @0xPolygonExplore ➡️ https://t.co/m2MF8j2MQTRemember: The APR isn't fixed and is subject to market conditions. pic.twitter.com/BbKcOBnkE0 / Twitter"

Stable pools galore 🌟🗣️ Introducing: Preon x @EthosReserve$ERN is an over-collateralized stablecoin from our frens @ByteMasons!Powered by @Retro_finance on @0xPolygonExplore ➡️ https://t.co/m2MF8j2MQTRemember: The APR isn't fixed and is subject to market conditions. pic.twitter.com/BbKcOBnkE0

There are even more stories concerning $ERN, Oath and Ethos Reserve in this week’s installment, so read on, Sphereans!

Retro on Twitter: "Have you seen the juicy $STAR yields lately on @Retro_finance ?$STAR - $CASH - 62.86% - $794.66k$STAR - $ERN - 72.69% - $134.37k$STAR - $tUSDC - 78.32% - $579.14KACT FAST!🧵Meet @PreonFinance !!! pic.twitter.com/hd1ASCDA4Y / Twitter"

Have you seen the juicy $STAR yields lately on @Retro_finance ?$STAR - $CASH - 62.86% - $794.66k$STAR - $ERN - 72.69% - $134.37k$STAR - $tUSDC - 78.32% - $579.14KACT FAST!🧵Meet @PreonFinance !!! pic.twitter.com/hd1ASCDA4Y

Sphere’s Proactive Response to Balancer’s v2 Pools Vulnerability

News emerged this week of a critical vulnerability on Balancer’s v2 Pools, affecting numerous liquidity pools across multiple chains. The Sphere multisig promptly withdrew from any affected pools, ensuring the safety of our assets. Notably, the $SPHERE/$wMATIC pool hasn’t been reported to be affected by this vulnerability.

To read about this story in greater depth, you can read the Balancer forum thread linked below:

Vulnerability found in some pools

Unveiling of Dyson 2.0

Dyson (🔺,⭐) on Twitter: "gm DeFi degens 🫡Although it might seem we've been MIA, the truth is we've been busy BUIDLing. 🏗️Stay on the lookout, something interesting is brewing... 👀✅ Metrics✅ FrontendTake a sneak peak: https://t.co/alVtqgCMu1We hope you aren't fading, anon! pic.twitter.com/9fZVpTEfHB / Twitter"

gm DeFi degens 🫡Although it might seem we've been MIA, the truth is we've been busy BUIDLing. 🏗️Stay on the lookout, something interesting is brewing... 👀✅ Metrics✅ FrontendTake a sneak peak: https://t.co/alVtqgCMu1We hope you aren't fading, anon! pic.twitter.com/9fZVpTEfHB

In development news, we’re excited to announce the unveiling of Dyson 2.0. Significant UI/UX updates have been made, including the addition of a Navigation tab and changes to the Search mechanisms, enabling users to search for vaults at lightning speed.

A Metrics tab has also been created for Dyson’s ALM pools, offering users an in-depth analysis of the pools.

Exploring Dyson 2.0

An Eventful Week for Preon

Preon had an extremely exciting week, surpassing $1,250,000 in total collateral deposited and over $1,000,000 in $STAR minted, just two weeks after launch.

We did encounter a minor hiccup related to the peg deviation between Polygon and Arbitrum, but swiftly balanced the pools to restore parity. We’ve also injected a significant amount of liquidity on Arbitrum, offering users the opportunity to earn around 60% on Chronos by staking $STAR.

Preon Gauge: A Major Proposal

In even more Preon news, as both Preon and $STAR expand and reach all new heights, Simsala tabled a proposal on the Balancer forum to enable a STAR/USDC.e gauge.

Preon Finance (🌟,👨‍🚀) on Twitter: "Preon & $STAR are expanding 🌐Head cat, @simsalacrypto tabled a proposal on the @Balancer forum to enable a STAR/USDC.e gauge.The stable pool will help deepen $STAR liquidity across chains 💪This is just the beginning, anon!Join the conversation ➡️ https://t.co/GA8MGaQec3 / Twitter"

Preon & $STAR are expanding 🌐Head cat, @simsalacrypto tabled a proposal on the @Balancer forum to enable a STAR/USDC.e gauge.The stable pool will help deepen $STAR liquidity across chains 💪This is just the beginning, anon!Join the conversation ➡️ https://t.co/GA8MGaQec3

This stablecoin pool will serve to deepen $STAR liquidity across all chains. The proposal seeks to add a $veBAL gauge to the new STAR/USDC.e pool, and is only the beginning of what is possible with Preon’s powerful stablecoin.

[BIP-416] Enable STAR/USDC Gauge [Arbitrum]

Preon Twitter Spaces

Preon has been alight with the Twitter Spaces recently, with a series of past and future events that have been setting the DeFi world on fire.

Preon hosted a Twitter Space with Liquity earlier this week, discussing the integration of the highly decentralized and immutable stablecoin, $LUSD, into the Preon ecosystem. Missed the Space? Not to worry! You can listen to the Space here.

Additionally, Preon is hosting another Space with OATH Foundation on the 31st of August, discussing various topics including $ERN, $STAR, CDP economy, and our work on Polygon and with Ethos Reserve. Be sure to set a reminder, and clear your calendar, as you will not want to miss this masterclass in stablecoin economics!

Preon Finance (🌟,👨‍🚀) on Twitter: "Preonauts, are you ready for another value-packed Twitter Spaces?Well, we certainly are 🫡📢 Presenting: Preon @OATHFoundationAgenda:✅ Stablecoin design✅ Collaboration with @EthosReserve& more🗓️ 31st August, 2PM UTC📍 https://t.co/g33nO6TkgA🧑 @charlie_defi pic.twitter.com/IuZkgAONnP / Twitter"

Preonauts, are you ready for another value-packed Twitter Spaces?Well, we certainly are 🫡📢 Presenting: Preon @OATHFoundationAgenda:✅ Stablecoin design✅ Collaboration with @EthosReserve& more🗓️ 31st August, 2PM UTC📍 https://t.co/g33nO6TkgA🧑 @charlie_defi pic.twitter.com/IuZkgAONnP

That concludes this week’s Sphere Weekly Report. We continue to be inspired by our community’s support and engagement, leading us to innovate and expand. Stay tuned for more updates as we continue to build, grow, and strengthen the Sphere Ecosystem.

Yours in innovation,

Sphere Finance.

This Week in Sphere Ecosystem News & Updates

Hey Sphereans! Welcome to this week’s edition of the Sphere Weekly Report, where we delve into the latest news and updates from the Sphere ecosystem. This week, we have a lot to cover, so let’s dive right in!

Sphere’s Big Picture: A Bird’s Eye View

Sphere Finance (🔮,💜) on Twitter: "Hey Sphereans, got your morning coffee? ☕Let's kick off August looking at Sphere's big picture... 🖼️Unpacking the core elements underpinning Sphere, what lies ahead, and more.Ready to dive deep? 🧵 👇 pic.twitter.com/7TJHJpvRph / Twitter"

Hey Sphereans, got your morning coffee? ☕Let's kick off August looking at Sphere's big picture... 🖼️Unpacking the core elements underpinning Sphere, what lies ahead, and more.Ready to dive deep? 🧵 👇 pic.twitter.com/7TJHJpvRph

We believe in the power of information, and that’s why the Sphere Team has been hard at work compiling a comprehensive overview of the Sphere Ecosystem. This compilation was released on all of Sphere Finance’s official social media accounts, and includes valuable insights into the ecosystem’s protocols, plans for governance and meta-governance, and the role of the $SPHERE token as a pivotal governance asset within the DeFi landscape.

We understand that navigating complex concepts can sometimes be challenging, so we took a different approach this time. We started with a simple overview and gradually delved into the intricate details, ensuring that our users gain a deeper understanding without getting lost in the complexities. Knowledge is power, after all!

Sphere: The Big Picture

Preon Zealy Quests: A Fond Farewell

If you’ve been following our journey and the captivating Zealy campaign, you’re probably feeling like a true CDP expert by now. From gaining in-depth knowledge about all things CDP to exploring the unique features that make Preon stand out, you’ve been on an educational adventure. Not to mention the good vibes that have surrounded this campaign!

A big congratulations in advance to those who netted themselves an NFT, a unique role in our Discord server or a whitelist spot for $PREON’s presale. We want to extend our heartfelt thanks to everyone who has participated in our campaigns and those who are eagerly planning to join us on Preon’s growth trajectory. Your support means the world to us, and everyone in our community is a winner!

But wait, there’s more! The end of the Zealy quest campaigns marks an exciting milestone: the announcement of our grand finale…

Preon Finance (🌟,👨‍🚀) on Twitter: "Next week should be fun 🎯 👀 pic.twitter.com/EkoFMwRRfJ / Twitter"

Next week should be fun 🎯 👀 pic.twitter.com/EkoFMwRRfJ

Preon: Launching Today!

Drumroll, please! After months of relentless building, rigorous testing, and strategic planning, Preon is finally ready to launch. Yes, you heard it right! Today, on the 7th of August, 2023, Preon will make its debut in the DeFi universe, and we couldn’t be more thrilled!

The Era of the Ecosystem is here.

$ylSIMSALA on Twitter: "hey, @PreonFinance on Monday pic.twitter.com/C7OxbjvlGs / Twitter"

hey, @PreonFinance on Monday pic.twitter.com/C7OxbjvlGs

During the initial phase of the launch, you’ll be able to open a Collateralized Debt Position and borrow the $STAR stablecoin against your collateral at an attractive zero percent interest rate. But that’s not all. We’re also introducing the option to use BPTs as collateral, expanding the possibilities for our users.

Preon doesn’t stop there. We’re taking your collateral to the next level by making it yield-bearing. By incorporating elements of yield farming and unique tokenomics, we’re creating a truly rewarding experience for our users. And that’s not all — $STAR can be deposited in a single-sided Stability Pool on Dyson, allowing you to potentially earn auto-compounded yield. Talk about maximizing your returns!

0xSloth.eth🦥 on Twitter: "Let me tell you a little bit about @PreonFinance today!What is #Preon ⁉️It's a decentralized lending protocol built on @arbitrum, allowing users to borrow up against their portfolio 😎🧵1/8 pic.twitter.com/RczDFTuHj3 / Twitter"

Let me tell you a little bit about @PreonFinance today!What is #Preon ⁉️It's a decentralized lending protocol built on @arbitrum, allowing users to borrow up against their portfolio 😎🧵1/8 pic.twitter.com/RczDFTuHj3

But wait, there’s even more! Preon opens up a plethora of yield farming opportunities, including exciting partnerships with industry leaders such as Chronos. Stay tuned for more details on this front as we approach the launch time for Phase Two. Trust us, you won’t want to miss it!

Max Long on Twitter: "Max Long Mondays showcases one of those Projects that get us Excited againimagine an OmniChain cross-margin, 0-interest lending protocol that makes use of CDP mechanics AND integrated with LayerZero@PreonFinance 🧵👇 pic.twitter.com/AnnCW8nrvQ / Twitter"

Max Long Mondays showcases one of those Projects that get us Excited againimagine an OmniChain cross-margin, 0-interest lending protocol that makes use of CDP mechanics AND integrated with LayerZero@PreonFinance 🧵👇 pic.twitter.com/AnnCW8nrvQ

That’s a wrap for this week’s Sphere Weekly Report. We hope you enjoyed our witty and engaging updates. Remember to mark your calendars for the Preon launch tomorrow, and get ready to embark on an exciting journey into the world of decentralized finance.

We leave you with one final post from our very own, the amazing and ever-talented Price Time!

Preon Finance (🌟,👨‍🚀) on Twitter: "Hol up, intern just dropped a banger 🔥Collateraliiiiiiiiiiize! ft. @PriceProtocol pic.twitter.com/kbxbaM1dU2 / Twitter"

Hol up, intern just dropped a banger 🔥Collateraliiiiiiiiiiize! ft. @PriceProtocol pic.twitter.com/kbxbaM1dU2

To stay up to date on all the latest Sphere Ecosystem news, follow our Medium, and join our community Discord Server!

Join the Sphere Finance Discord Server!

Until next time, stay curious and keep exploring the Sphere Ecosystem. Together, we’re shaping the future of DeFi!

Yours in innovation,
Sphere Finance

Hey, Sphereans! Welcome back to another deep dive.

A consistent challenge for the Sphere Content and Marketing teams is our attempt to simplify the often complex topics and innovations that Sphere is creating in the DeFi space, in order for our users to gain a deeper understanding without getting lost in the intricacies. Today, however, we are going to take the opposite approach: starting with a simple overview and analyzing its details in progressive depth. And with the launch of Preon imminent, it may be useful to take a step back and look at the big picture.

So join us, friends, as we view the trees, the forest, and the entire ecosystem of Sphere Finance.

Sphere Finance (🔮,💜) on Twitter: "Hey Sphereans, got your morning coffee? ☕Let's kick off August looking at Sphere's big picture... 🖼️Unpacking the core elements underpinning Sphere, what lies ahead, and more.Ready to dive deep? 🧵 👇 pic.twitter.com/7TJHJpvRph / Twitter"

Hey Sphereans, got your morning coffee? ☕Let's kick off August looking at Sphere's big picture... 🖼️Unpacking the core elements underpinning Sphere, what lies ahead, and more.Ready to dive deep? 🧵 👇 pic.twitter.com/7TJHJpvRph

Where Do We Begin?

Simply put, the big picture of Sphere boils down to two things: yield and governance.

Penrose, Unknown, Dyson, Preon, Covenant, SphereLend, and all upcoming ecosystem elements ultimately move in the direction of increasing yield and governance for Sphere.

The various ways that these ecosystem elements can integrate and work synergistically can admittedly become extremely complex at an increasingly rapid pace, especially to newcomers. Once again, however, every single connection ultimately leads towards the exact same end point. Having an entire suite of projects under one umbrella allows us to perform in an exceedingly capital-efficient manner, both for the protocol treasury and for Sphereans.

For example, rather than outsourcing treasury yield strategies and paying fees for doing so, it can simply be done completely internally; everything operates synergistically in a gear wheel-like action, and supports all other aspects of the ecosystem. The details of all the subsidiary projects, how they work, and how they can be used in isolation and together are entire realms within themselves, so it can be very easy — again especially as a newcomer — to get lost and overwhelmed in the extensive details and options available.

Which is where we return to the ultimate point of Sphere, which is to simplify all of this down into one token: $SPHERE.

One Token To Govern Them All

Now we are able to venture a layer deeper and talk about how that actually happens.

In order to earn ecosystem yield, users currently can yield-lock their $SPHERE in Dyson’s Sphere Earnings Pool for a period of 17 weeks.

This is essentially a single-sided staking of $SPHERE, with a 17-week time-lock on deposits. These “staking” rewards are not inflationary; rather they represent ‘real yield’ in blue-chip tokens from the ecosystem.

Soon these rewards will expand to include $vSPHERE or vested SPHERE, which can either be vested for liquid $SPHERE tokens or zapped into $ylSPHERE to compound. $vSPHERE also re-introduces a deflationary aspect of the token, but more on $vSPHERE once it all goes live.

Regardless, hopefully the wider concept is crystal clear: stake $SPHERE for 17 weeks at a time, earn real yield.

This is not the end-game for Sphere or $SPHERE, however. In time, the yield distribution of the Sphere ecosystem will transition to ve tokenomics, which is essentially a complex way of saying that, instead of single-sided staking $SPHERE, users will need to stake an 80–20 LP of $SPHERE.

Meta-Governance: A New Dimension of Governance

Here, Sphereans will have two options:

• Vote-escrow their LP into $veSPHERE for a maximum of 1 year,
• Stake their LP as $spSPHERE, the liquid wrapper of $veSPHERE.

Both $veSPHERE and $spSPHERE will still earn yield from the entire ecosystem. The difference is that vote-escrowed SPHERE, as the name implies, will be a governance token that will be able to vote to direct the governance of the Sphere treasury, making $veSPHERE eligible to earn bribes for those votes.

This is known as “meta-governance,” since $veSPHERE will control the governance of many other tokens.

$spSPHERE, on the other hand, is the liquid-wrapper of $veSPHERE, so $spSPHERE will forfeit its voting rights to $veSPHERE, but will still earn yield and maintain the convenience of being a liquid token. This creates “concentrated meta-governance” for $veSPHERE, where $veSPHERE holds its own voting power plus the voting power of $spSPHERE.

Final Points

If this is becoming too confusing, not to worry. A step back will clarify the situation once again. This all still leads to the same end point: yield and governance. The more the ecosystem grows, the more yield becomes available for Sphereans. The more governance the treasury accumulates, the more potent the meta-governance voting power of Sphere.

One of Sphere’s objectives is to lower and/or remove all the entry barriers to DeFi, making it as accessible as possible. Having so many ecosystem components and integrations can be overwhelming, but it allows us to cater to all different DeFi user bases and to a wide variety of risk appetites. It also allows us to simplify all of that complexity down into one token with an increasingly diversified yield and an increasingly concentrated meta-governance.

To learn more about everything the Sphere Ecosystem is developing and stay up to date on our future plans, join our community Discord server:

Join the Sphere Finance Discord Server!

Thank you for reading, Sphereans! Until next time, Sphere over and out.

Hey Sphereans! Welcome to this week’s edition of the Sphere Weekly Report, where we delve into the latest news and updates from the Sphere ecosystem. This week, we’re thrilled to announce a groundbreaking partnership, upcoming community-focused reports, a significant APR boost, and multiple new protocol alliances.

Join us as we dive straight into all the excitement.

Dyson x Chronos Partnership: A DeFi Game Changer

One of the highlights of the week is our eagerly anticipated partnership with Chronos via Dyson. Dyson is well-known for its innovative solutions, and this collaboration will bring the power of Sphere and its suite of deFi solutions to Chronos V2, and vice versa.

Dyson (🔺,⭐) on Twitter: "Calling all DeFi enthusiasts 📣Once again Dyson is teaming up with our friends over @ChronosFi_ to build & transform the future of DeFi ⚡As longtime partners of the protocol, we are excited to start building with Chronos again to revolutionize the space 💥Let's see how 🧵 pic.twitter.com/J8qLcVcoZF / Twitter"

Calling all DeFi enthusiasts 📣Once again Dyson is teaming up with our friends over @ChronosFi_ to build & transform the future of DeFi ⚡As longtime partners of the protocol, we are excited to start building with Chronos again to revolutionize the space 💥Let's see how 🧵 pic.twitter.com/J8qLcVcoZF

The partnership will see the integration of the Active Liquidity Manager inside of Chronos, enabling an automated, efficient, and cost-effective concentrated liquidity management system. This integration will significantly reduce the costs associated with rebalancing, leading to increased fee realizations.

In line with Sphere’s ethos of lowering every barrier to entry in the DeFi space, the partnership will also ensure that swap fees are automatically bribed on epoch. This will provide users with a seamless, efficient, and cost-effective DeFi experience.

Moreover, users will now be able to manage their positions with just one deposit, with the introduction of smart vaults in the near future.

You can learn more about our incredible partnership with Chronos through the article below:

Dyson is Building On Chronos

Quarterly Treasury Report: Transparency is Key

At Sphere, we believe in the power of transparency. In response to our community’s demand, we will soon be releasing the Sphere Finance Quarterly Treasury Report for the end of Q2.

This report will provide a comprehensive overview of our financial activities during the past quarter, giving Sphereans an insight into our management and utilization of resources. We believe this step will further strengthen the trust our community has in us and reinforce our commitment to transparency.

You can also view our Treasury Report for the End of Q1 below:

Treasury Report | Sphere Finance

$ylSPHERE APR Boost

Good news for $ylSPHERE holders! We’re excited to announce that the $ylSPHERE APR has hit 20+%. With the current vAPR sitting at 21%, our holders are now receiving “real yield” on their tokens in blue-chip assets such as $wETH and $wMATIC at an even higher rate.

We remind lockers that $ylSPHERE must be relocked or withdrawn manually after the 17-week locking period to avoid the risk of being excluded from the Sphere Earnings Pool.

Milestone Magic: First Unlock Epoch

New Partnerships on the Horizon: Expanding our DeFi Ecosystem

We’re also thrilled to announce that we have several new partnerships with prominent protocols in the DeFi space lined up. These collaborations will further expand our ecosystem and its reach, and offer Sphereans a wider range of opportunities to maximize their returns. All of this serves to further ingrain Sphere Finance’s place at the epicenter of DeFi, with its metagovernance extending across the entire DeFi world. Stay tuned for more updates!

To sum up, it’s been a week full of exciting developments at Sphere Finance. We remain committed to our mission of building the most user-friendly and cost-effective DeFi ecosystem, and we’re grateful to our community for their continued support. Stay tuned for more updates and developments in the coming weeks by joining our community Discord server!

Join the Sphere Finance Discord Server!

Until next time, Sphereans — Sphere over and out.

Welcome back Sphereans! Today, we would like to present to you a unique synergy between two protocols operating together under the Sphere Ecosystem’s umbrella, and how they work together seamlessly to optimize and amplify each other’s effects.

We previously showcased Preon’s integrations with Chronos, Balancer, and Aura, and although this topic has been touched upon briefly, the immense synergy between Preon and Dyson when it comes to collateral yield farming has yet to be fully highlighted.

So let’s explore the topic in depth to gain a better understanding of everything that is at play!

Dyson x Preon-Balancer-Aura

The Preon-Balancer-Dyson-Aura integration has been discussed in depth, where users will be able to provide liquidity into Balancer and deposit & stake those BPTs into Dyson. From there Dyson will be able to amplify and compound yield through Aura, a Balancer yield maximizer.

Leveraging The Power Of BPTs

Dyson users will then be able to take their yield-bearing receipt tokens and deposit them as collateral in Preon in order to borrow the $STAR stablecoin, introducing the possibility of leverage and amplifying yield opportunities for users.

This of course benefits the user because their collateral is earning yield, and all else kept equal, will allow users to effortlessly borrow more $STAR over time.

Importantly, performance fees from these strategies will be split between Dyson and Preon, but more on that towards the end of this article, because there is more to the synergy between Preon and Dyson for collateral yield.

Two-Way Collateral Flow

You see, the flow of collateral can go both ways.

For example, say you have non-yield-bearing bluechip collateral such as $wETH that users deposit into Preon to borrow $STAR.

That collateralized $wETH ordinarily would sit idle. However, with Preon, no deposit is left stagnant.

A portion of deposited collateral in Preon can be routed through to Dyson to be deployed in diversified, battle-tested yield-farming strategies (which can include our very own SphereLend borrowing/lending platform once it is launched).

So even with hard assets that are not themselves yield-bearing, the synergy between Preon and Dyson allows yield-generation nonetheless with a priority on safe strategies.

So once again, as users’ collateral earns yield and grows in value, and with all else kept equal, users will be able to borrow more $STAR over time. And of course, once again performance fees are split between Dyson and Preon.

With collateral in Preon continuing to grow via yield and routing to and from Dyson, the TVL of both protocols grows in tandem with the other. This significantly and almost effortlessly amplifies the TVL of the entire Sphere ecosystem. And again, as mentioned previously, the management of all of that yield-farming collateral produces performance fees that are split between Dyson and Preon.

Governance Tokens

So then the governance token of Dyson is the $SPHERE token.

Users currently can yield-lock their $SPHERE for a period of 17 weeks to earn blue chip rewards at a variable APR, rewards that are the result of all of the yield-farming strategies and performance fee revenue of the Sphere ecosystem including the imminent Preon and Dyson integrations.

The governance token of Preon will be $vePREON, once that phase of Preon is launched.

Now because Preon is a subsidiary protocol of Sphere Finance, the Sphere treasury will have an allocation of $vePREON.

So once again, with fee revenue funneling to $vePREON, it will therefore funnel to the Sphere treasury and ultimately to $ylSPHERE holders.

This is the goal of Sphere: one token earning rewards from an entire, intricate ecosystem, all the while holding concentrated governance over that ecosystem.

Thanks for reading, Sphereans, and till next time, Sphere over and out.