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SpectraLRT
How it works
LSTs!?
The Fam
Values
FAQ


Open App


The end game for
Liquid (re)Staking Tokens

The end game for Liquid (re)Staking Tokens

Non-custodial and decentralized Ethereum LST & LRT backed stablecoins

Non-custodial and decentralized Ethereum LST & LRT backed stablecoins

mkUSD circulating

 

81,357,345.5

ULTRA circulating

 

21,075,279.6

Collateral value

 

$393.4m

SPECTRA locked

 

41.4m (58.8%)

Introducing

Unlock the full potential of LRTs!

Spectra LRT by Spectra Finance introduces vaults collateralized with Liquid
Restaking Tokens (LRTs)

Mint ULTRA

The native stablecoin for SpectraLRT, pegged to USD. Fees from vault’s
collateralized with LRTs will flow back to SPECTRA lockers.

Open App

Supported LRTs

weETH

(ether.fi)

rsETH

(kelpDAO)

ezETH

(Renzo)

rwsETH

(Swell)

More LRTs will be added over time, pending DAO approval

Use these collaterals to mint ULTRA.
Because of the native yield of liquid restaking tokens, the value of the
collateral is always increasing!

Open App

How does Spectra work?

Mint

Choose your favorite LST and deposit it as collateral to mint mkUSD.

Collateral Ratio of 180%

120150200250

 mkUSD

4,671.3

 wstETH Collateral

1.8

Earn

Earn yield on your mkUSD’s via Prisma’s Stability Pool or on other DeFi apps
such as Curve and Convex.

Vote

Earn Spectra for minting mkUSD, maintaining an active loan or depositing into
the Stability Pool. Lock this SPECTRA to direct emissions and take advantage of
additional incentives.

Choose a collateral
to borrow against

Spectra supports multiple collateral types, therefore users can open multiple
vaults.

wstETH

A

Total Value Locked

$131.0m

Minted mkUSD

24.2m/100.0m

MCR

110%

Mint Fee

0.96%

Borrow Interest Rate

4.00%

Redemption Rebate

0.00%

Staked Ether APR

3.6%

Choose wstETH-A

wstETH

B

Total Value Locked

$12.0m

Minted mkUSD

3.3m/100.0m

MCR

110%

Mint Fee

0.83%

Borrow Interest Rate

6.00%

Redemption Rebate

1.00%

Staked Ether APR

3.6%

Choose wstETH-B

rETH

Total Value Locked

$45.8m

Minted mkUSD

13.4m/60.0m

MCR

110%

Mint Fee

0.93%

Borrow Interest Rate

4.00%

Redemption Rebate

0.00%

Staked Ether APR

3.2%

Choose rETH

cbETH

Total Value Locked

$26.9m

Minted mkUSD

10.0m/10.0m

MCR

120%

Mint Fee

0.75%

Borrow Interest Rate

4.00%

Redemption Rebate

0.00%

Staked Ether APR

3.1%

Choose cbETH

sfrxETH

A

Total Value Locked

$118.9m

Minted mkUSD

27.1m/50.0m

MCR

110%

Mint Fee

1.65%

Borrow Interest Rate

4.00%

Redemption Rebate

0.00%

Staked Ether APR

5.1%

Choose sfrxETH-A

sfrxETH

B

Total Value Locked

$9.9m

Minted mkUSD

3.4m/30.0m

MCR

110%

Mint Fee

0.97%

Borrow Interest Rate

6.00%

Redemption Rebate

1.00%

Staked Ether APR

5.1%

Choose sfrxETH-B

Take advantage of Ethereum’s proof of stake network and unlock loans where the
collateral grows.

Since Ethereum’s transition to proof-of-stake, staked Ether has been an
attractive yield opportunity.

Using liquid representations of staked Ether as collateral for loans means that
your collateral is growing all the time.

3.7%

Staked ETH APR

31.4m

Total Ether Staked

$31.4m

Size of Staked Ether

Staked ETH v LST

Still a bit lost?
Read more in our FAQ

Family & Friends

Backed and supported by most of Defi's finest.



Audited and verified

Spectra's codebase has received multiple audits from top firms.
Our codebase is immutable and without proxies, as DeFi should be.

No Proxy
Contracts

Audited By:



Immutable

FAQ

What is the Spectra Protocol?



Spectra is a decentralized borrowing protocol that allows users to mint a
stablecoin, mkUSD, that is fully collateralized by liquid staking tokens.

In addition to the collateral, the loans are secured by a Stability Pool
containing mkUSD and by fellow borrowers collectively acting as guarantors of
last resort. Learn more about these mechanisms under liquidations.

Spectra as a protocol is non-custodial, immutable, and censorship-resistant.
Learn more about the protocol here.

How do I use the Spectra Protocol?



To create a new vault, earn, or vote on governance proposals, head over to the
Spectra interface and connect a Web3 wallet. Be aware that each transaction on
Ethereum costs Ether (ETH). For a more detailed walkthrough, check out our Help
Guides.

If you're a developer interested in building on top of the Spectra Protocol,
please refer to our extensive docs.

How does the Spectra Protocol work?



Spectra is a borrowing protocol. In practical terms, it is a collection of smart
contracts that define a standard way to deposit collateral, mint mkUSD, and
liquidate positions. A vault is where you take out and maintain your loans
against a specific collateral type.

For a more in-depth description, check out the concepts from the documentation.
What are the benefits of using Spectra? Spectra offers a capital-efficient
borrowing experience with:

- A collateral ratio of just 120%
- Access to deposit multiple collaterals
- Directly redeemable - mkUSD can be redeemed at face value for the underlying
collateral, always and at any time
- Censorship resistant

Spectra is also attractive to LST issuers as veSpectra holders provide access to
incentivize certain actions across the Spectra protocol like incentivizing
minting of mkUSD with their own LST or redirecting emissions on Spectra.

What is boost?



Vote locking is a feature on Spectra where Spectra is locked in return for
veSpectra. The longer the time period that Spectra is locked for, the more
veSpectras are received. The minimum locking period is 1 week and the maximum
period is 52 weeks.

One of the major incentives of vote-locking Spectra is the ability to boost your
Spectra emissions. This means that a vault with "max boost" earns Spectra
rewards at 2x the rate of a vault that is unboosted.

Still unsure?
Read the docs.

Get started
with Prisma

Open App

Twitter

Docs

Github

Spectra Discord

Have a question or want to contribute?
Join the Prisma community on Discord.

Have a question or want to contribute? Join the Prisma community on Discord.

Open Discord

Spectra Finance 2024

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SpectraLRT
How it works
LSTs!?
The Fam
Values
FAQ

Open App