The Spectra DAO concluded a SIP3 vote on December 16, 2024, to migrate APW to a new ticker, $SPECTRA, update tokenomics, and deploy its governance-related contracts on the Base Network.

Perspective SAS (Spectra’s DevCo) deployed the necessary infrastructure and interface for existing APW and veAPW holders, allowing for a seamless migration to SPECTRA and veSPECTRA.

Open the official migration page: https://app.spectra.finance/migrate-apw

The official step-by-step tutorial for APW and veAPW holders can be found here: https://mirror.xyz/spectraprotocol.eth/SPADgYregHGvppLa4f14mfPw7PR1c0PAx66o3M_r__Q

The SPECTRA Token

Basic information

• Ticker: $SPECTRA

• Token Address: 0x64fcc3a02eeeba05ef701b7eed066c6ebd5d4e51

• Network: Base Network

• Max Total Supply: 1,000,000,000

The SPECTRA token inherits APW’s governance and utility characteristics. These include:

• Vote on changes or improvements to the protocol

• Ability to create a veSPECTRA Lock

• Earn SPECTRA incentives for locking (as voted in SIP 0)

• Gauge incentives participation

The SPECTRA token follows the same emission curve as APW.

The veSPECTRA

Basic information

• Contract Address: 0x6a89228055C7C28430692E342F149f37462B478B

• Network: Base Network

The veSPECTRA token inherits veAPW’s following characteristics:

• Entitlement to protocol earnings (3% of the yield generated by the YTs) and emissions

• Voting on Spectra Governance proposals

New veSPECTRA characteristics following SIP3:

• A 4-year ve(3,3) locker model, following veAERO/veVELO implementation.

• veSPECTRA earn 80% of protocol revenues

Plus, following the successful ve(3,3) lockers model of Aerodome/Velodrome, veSPECTRA holders can earn protocol revenues and third-party incentives in exchange for help directing SPECTRA emissions to pools.

Spectra Governance

The core governance pages — Gauges and Incentivize — will go live on the Spectra App shortly after the final APW gauge epoch ends on Thursday, 19 December 2024, at 02:00 AM CET. This ensures a seamless transition and enables participation in the upcoming SPECTRA gauge epoch.

The veSPECTRA page will launch shortly after the migration begins, allowing veSPECTRA holders to extend their locks and SPECTRA holders to create new ones.

SPECTRA and Crypto Trackers

Perspective SAS, Spectra’s development company, is actively working with token information aggregators such as CoinMarketCap, CoinGecko, and DeFiLlama to update migration details and SPECTRA token information. Please note that these updates may take some time to reflect across all platforms.

The APW Token

The APW token contract is immutable, meaning it cannot be paused, destroyed, or burned by any party. As such, the APW token will continue to exist on the networks where it has been deployed. However, if liquidity diminishes or disappears entirely over time, major token trackers and DeFi platforms may no longer display or update it.

With Spectra governance contracts now migrated to the Base Network and reliant solely on SPECTRA participation, the APW token will lose its primary utility. The APW emissions will cease on Thursday, 19 December 2024, CET 02:00 AM.

Liquid Lockers

Spectra’s DevCo (Perspective SAS) is working closely with StakeDAO to help bridge APW liquid lockers in a timely manner. Advancements will be communicated via the official channels of StakeDAO and Spectra.

Spectra & SPECTRA token brand materials can be found under this link:

About Spectra

Spectra is a permissionless interest derivatives protocol. Access fixed rates, yield leverage, and earn on your liquidity. Create pools to unlock Principal and Yield Tokens for any yield strategy.

Join Spectra Discord: https://discord.gg/n4Un5nZhCp
Follow Spectra on X: https://x.com/spectra_finance