SPHERE UPDATES 6/21/2022
Sphere is a unique protocol with goals to become the S&P 500 of crypto by giving their investors exposure to multiple crypto investments, across multiple chains with just one token.
This protocol was released less than 30 days ago, and I wanted to jump in when it was about 3 cents a coin a few days ago, but just haven’t hadn’t taken the time. Since that time is arguably one of the hottest crypto projects at the moment increasing 200% to9 ½ cents today.
Sphere Website ➜ https://sphere.finance
Polygon Network Details ➜ https://medium.com/stakingbits/settin…
Network Name: Polygon New RPC URL ➜ https://polygon-rpc.com
ChainID: 137 Symbol: MATIC Block Explorer URL ➜ https://polygonscan.com
S.P.H.E.R.E. Games ➜ https://youtu.be/ZAtPpSGYe3Q
Latest Sphere AMA ➜ https://youtu.be/DuKNqQw0oiQ
Sphere Finance introduces quantum liquidity as a DeFi game changer
on April 8, 2022
By Jacob Thomas
With 1,500% growth in less than 19days and a whopping $100M market cap as of April 3rd, Sphere Finance is taking the DeFi scene by storm. Sphere Finance has been solving problems in the DeFi space and launching new products and services at a record pace. With the introduction of Quantum Liquidity as a Service (QLaaS), Sphere Finance is enabling projects to grow their liquidity for their tokens instead of just sitting there on a decentralized exchange (DEX).
What is QLaaS?
Sphere has an excellent write up on QLaaS located at their SphereWiki that explains the concept very well. To answer what QLaaS is, first we must take a look at what liquidity is.
“Liquidity is the amount of funds available for exchange in any given liquidity pool. Liquidity Pools work by maintaining a 1:1 USD Ratio between the two tokens in the pool, essentially the amount of the tokens in the pool will always be worth the same amount as the WMATIC in the pool. This way when you sell, you add more tokens to the pool so each token is worthless, driving the price down, and when you buy you add more WMATIC to the pool, pushing the price of the token up.”
Quantum Liquidity changes the game by actively farming with the liquidity in your LP (Liquidity Pool). In simple terms, regular LPs let the liquidity just sit in the pool to act as an automated market maker; however, Quantum Liquidity will farm with the available liquidity, to earn a yield through the various stable protocol.
Sphere Finance will take this yet another step further by offering Quantum Liquidity as a service to other projects and protocols. Essentially, any project that wants to harness the insane power of Quantum Liquidity will be able to do it through Sphere Finance, providing a fee in exchange for the service.
Sphere Finance will be launching a Decentralized Exchange shortly; to which projects can apply, get vetted, and then listed on to utilize the QLaaS for their own projects.
Parrotly Finance Inc is one of the first only handful that has partnered up with Sphere Finance and will be launching the token for their ecosystem $PBIRB, not only on Quickswap, but Sphere Finance’s DEX as well to utilize their QLaaS mechanic.
This is a unique situation, as $PBIRB is a deflationary token that reduces the native token supply over time. Which when coupled with the QLaaS; will grow the value of the liquidity pool for $PBIRB; Compounding the deflationary aspect of $PBIRB. Parrotly Finance is currently the only deflationary token listing with Sphere Finance.
Parrotly Finance Inc is building products and services that will bridge the gaps between DeFi and centralized finance; allowing individuals, businesses and corporations to properly manage their crypto assets. The partnership between Parrotly Finance and their mission to connect DeFi to corporations, and with Sphere Finance becoming the next leader of DeFi; makes for an exciting step towards the future of finance.
Sphere Finance Update: May 9, 2022