Q3 Report

Welcome to Spectra's Q3 report!

Below, you will read about the crucial Beta improvements based on user feedback, a first glance at the Yield Market UI, our steps toward ensuring top-notch security for the upcoming mainnet release, research developments, and more.

Spectra Beta

On August 8th, we announced that our Beta was open for everyone to explore, emphasizing that there was no need to connect a wallet anymore to look around. This approach resonated with users, as they felt more at ease exploring without linking their wallets.

The subsequent days brought in a surge of feedback, especially from seasoned DeFi users. Some of the main points they highlighted were:

  • A need for a more detailed portfolio overview

  • The addition of tooltips and guidance throughout the user journey

  • The user interaction sidebar appears on the right, blocking wallet pop-ups and notifications

  • Suggestions for Lite and Pro UI modes

We hear you. We went back to the whiteboard and iterated.

HQ version of the new Portfolio: i.imgur.com/Qcwwlpq.png

We're now developing a more comprehensive portfolio section. It will have distinct tabs for Principal Token, Yield Token, and LP Position. Each position will have clear labels and a dedicated 'Manage' button for easy access to actions.

Tooltips and helpers are coming across flows and modules.

Given the early stage of interest rate derivatives in DeFi, it’s understandable that users want to be well-informed about their actions. We're introducing dynamic tooltips that provide transparent information about each action. For those who want a deeper dive, each module will have a 'Help' page linking to detailed documentation.

Yield Marketplace

Based on the feedback about the right sidebar, we are revamping one of the core products, the Yield Marketplace, into a centered layout that doesn't interfere with wallet notifications.

Yield Marketplace
Yield Marketplace

HQ version of the Yield Marketplace mockup: https://i.imgur.com/V2ZGSSN.png

The existing, simplified layout found in Fixed Rate and Yield Trading will still be present. The next rounds of feedback will help us decide whether a centered design should be applied to the remaining features.

Speaking of Lite and Pro modes for our interface, as we're still gathering feedback, our current focus remains on balanced UI catering to novice and experienced users.

Works on the Protocol

Many of the works at Spectra are dedicated to building a robust protocol, often unsexy and monotone stress-testing and bug-fixing marathons. Here are some of them:

  • Stress testing contracts in various ways: stress-testing, fork testing, invariant testing, use of dynamic and static analysis tools etc. These contracts include routers, zaps, principal tokens, LP Vault, and more.

  • Internal codebase migration

  • Works on the Yield Marketplace indexer, UI & contracts

  • Visualization stack for APRs (subgraph, standalone app, in-app charts)

  • Internal audits

  • New tokenomics & governance contracts


  • Extensive research on AMM parameters and pool behavior for different profiles of yield-generating assets

  • Drafted governance proposals for protocol and governance re-launch

  • Market Making for tokenized yield derivatives


  • Gaspard and Ulysse¬†hinted¬†that down the road, the engine powering Spectra‚Äôs APR charts would be used to power a standalone app¬†for yield traders. ‚Üź This will be a part of the broader Spectra ecosystem.

  • Educational thread on how Spectra‚Äôs Fixed Rate¬†helps¬†lenders, farmers, and stakers to lock in their future income

  • Educational¬†thread¬†on how APR evolution can present greater return opportunities than price evolution, using Lido‚Äôs stETH as an example

The need for a permissionless interest rate derivatives protocol couldn’t be more evident in August 2023.

August highlighted the importance of having an open protocol for interest rate swaps. The DeFi community was buzzing when Curve Finance’s Founder took a big loan using his CRV assets. This move was made on several platforms, including Abracadabra Money. Things got heated with a proposal that could lead to higher interest rates for CRV loans.

Gaspard commented on the situation, pointing out the need for Spectra in DeFi.


In July, Spectra showcased at The Ethereum Community Conference with its booth. It was our debut at a public event as Spectra. Attendees appreciated our new direction and were curious about how it differentiates from APWine.

A quick refresher on Spectra's core goals:

  • Composable and permissionless approach to the protocol, which anyone can use for their own needs

  • Delivering a cutting-edge, in-house flagship app that unlocks yield trading, fixed rates, upfront yield, and more for a wide range of DeFi‚Äôs interest-bearing tokens

  • To empower the Defi ecosystem with extensive tools for interest rate derivatives

During EthCC, Gapard was interviewed by France's most popular crypto magazine Cryptoast, and also presented Spectra’s deck on one of the event’s stages.

What’s next?

Public Audits

As we approach Spectra’s mainnet release, the protocol's security remains our top priority. The next significant step is the public audits of our contracts, a critical measure to ensure the safety and reliability of the protocol.

The public audits will be conducted via Hats Finance and Code4rena - skilled 'hackers' worldwide will compete to identify potential vulnerabilities. This competitive approach is designed to maximize the chances of spotting any issues.

Reshaping Beta

In response to user feedback, we're refining the Beta version of Spectra. As highlighted earlier, we're experimenting with the new layout, starting with the Yield Marketplace. This enhancement will give users a clearer understanding of their actions, a comprehensive view of APR trends through interactive charts, and a detailed breakdown of their positions.


Parallel to the Beta modifications, it's binding to update our documentation. This ensures that our users are consistently guided and supported at every step within the app, aligning with the latest features and functionalities.

Subscribe to Spectra
Receive the latest updates directly to your inbox.
Mint this entry as an NFT to add it to your collection.
This entry has been permanently stored onchain and signed by its creator.