Introduction

Introduction

What is S.P.H.E.R.E. (Sphere)?

SPHERE is poised to power a revolution in DeFi with a mechanism with forced appreciation, a new financial protocol that makes earning from the best of DeFi as easy as a transaction. Sphere Finance offers the $SPHERE token that acts as a store of value with forced appreciation made possible by its many innovative ventures in DeFi. With steady investments and continued bolstering of the protocol's health through smart yields, we aim to transform this protocol into a one-of-a-kind index fund for DeFi, akin to S&P 500 in the TradFi world. $SPHERE aims to become a token whose inherent value represents the power of the strongest governance tokens in the space.

What is the point of Sphere?

Sphere Finance is an innovative protocol that brings benefits and value to $SPHERE token holders through governance tokens acquisitions & incubations, slowly turning $SPHERE holders into proxy governance holders of various protocols as we aim to black hole governance tokens into our treasury. Sphere transforms into a self-sufficient protocol with rewards for its investors. Here are some advantages:

Simplicity

When you buy $SPHERE, you own a % of the treasury. You don’t have to deal with our website! From the moment you purchase $SPHERE, you are automatically eligible to receive the benefits of our trearusy. The most user-friendly system in DeFi.

Power

Because the treasury continously generates from fees from treasury investments, incubated projects & services, the token is always becoming more and more scarce because of perpetual buybacks made possible by the revenue. This makes SPHERE's value appreciate.

Harmony

Other popular tokens inflate their circulating supply. SPHERE, on the other hand, deflates its circulating supply by always burning and buying back tokens with many revenue streams.

Effort

The team has a lot of ambition. Our team consists of people who have worked with large protocols before and understand how to earn liquidity to acquire even more liquidity. Basically, your liquidity is used to earn more liquidity for the protocol and ultimately for you as an investor. Yield upon yield upon yield. OTC deals, Curve Wars, Convex Wars, Solidly, protocol partnerships and multi chain investments? You have it. We harness the power of crowds to maximize the return on each investor.

Robustness

Unlike other protocols, we prioritize security. This means that the first sales contract (more details coming soon!) should offer investors the least risk. Have you ever witnessed questionable protocols siphoning off investors’ hard-earned liquidity? We despise these too. That is why we have adhered to the highest safety standards. Our website is also well protected. Simply put, we don’t host the front end of our protocol on a single server; Instead, we host it on hundreds of servers to ensure a) blazing-fast performance, b) top-notch security thanks to our buddies at Cloudflare, and c) top-notch DDoS mitigation. We anticipate a large influx of Gigachad investors and no latency concerns (except maybe for the blockchain, but we have no power over that 😉).

Emissions

Sphere is deflationary; Meaning, there are no emissions that inflate the supply of Sphere. On top of that, Sphere is regularly taken out of the circulating supply promoting scarcity, thus making Sphere more valuable.

How do I join Sphere?

After our presale it's very simple: all you have to do is buy our token on the open market via Bogged. Bogged allows you to buy the token with Autotax & therefore you don't need to adjust the slippage!

How can I benefit from Sphere?

The main benefits for stakers comes from supply and treasury growth. The taxes applied to every transactions create a price floor for every user that is holding the $SPHERE token. The taxes are being used to invest into yield opportunities, OTC deals, and so on. One other big factor as aforementioned, are the governance tokens. We aim to black hole governance tokens into our treasury and use the prowess that we amass over various protocols to yield the biggest benefit to our holders. We call this the Matryoshka Principle.

Taxes Breakdown:

The investing treasury captures 3% of all buys and 5% of all sales

These funds will be used to:

  1. 1.
    fund cross-chain endeavors
  2. 2.
    fund governance acquisitions, examples:
    • Qi
    • Curve
    • Convex
    • Degen Plays (that's how we call it, risky plays voted by the community)
    • VC funding
    • OTC purchases
Disclaimer: This will be voted by the community first
  1. 1.
    fund the development of the protocol
  2. 2.
    fund marketing

The $SPHERE/$MAI ($miMATIC) LP pool is supported by 5% for both sell and buy taxes to ensure enough liquidity to reduce volatility of the price.

The Risk Free Value Treasury, basically functioning as a hedge against the volatility of the market, receives 5% of purchase taxes and 10% of the remaining sales taxes.

Who created Sphere?

Our team is partially anonymous, with half-doxxed entities partaking in the core team. Our core members are known from other protocols they have had participated in. Our team has participated in KYC programmes (CertiK & The Obsidian Council). Here's the proof.

Who runs Sphere?

Currently, most of the decisions are taken by the core team, but we expect to be able to turn this into a Community-governed model as soon as possible!
Last modified 5mo ago