Description
Spectrum Protocol is described as the first yield optimizer on the Terra blockchain ecosystem, providing a decentralized platform that lets users earn compound interest on their farmed crypto assets. Its core product is the Vault, where users deposit liquidity pool (LP) tokens or staked crypto assets; the protocol's smart contracts automatically maximize rewards from various liquidity pools and yield farming products across the Terra ecosystem by auto-compounding harvested rewards back into users' original deposits. Spectrum Protocol operates as a Decentralized Autonomous Organization (DAO) with no privileged access — all changes to the protocol must go through a community voting process (a 7-day voting period followed by a 1-day timelock), and any SPEC token holder can create a proposal while any SPEC stakeholder can participate in voting. The protocol has been audited by Halborn Security and provides documentation covering security, transparency, tokenomics (SPEC token), fees, APY calculations, and governance, targeting DeFi users and liquidity providers within the Terra ecosystem.