Stake DAO celebrates the success of long-term partner Spectra (formerly APWine) as they surpass $200M TVL. With Spectra’s strategic evolution from Ethereum’s APW to SPECTRA on Base network, Stake DAO intends to support this transition, subject to governance approvals and technical feasibility. This article outlines the comprehensive migration process to ensure a seamless experience for all sdAPW holders.
SIP 3: Spectra Token Migration
The Migration Process in 3 phases
Phase 1: Voting Power Migration (Complete)
Stake DAO has successfully migrated the veAPW lock to Base by locking 29M SPECTRA (30% of total veSPECTRA) for 4 years, securing substantial voting power in the ecosystem. During this phase:
- sdAPW holders continue to vote through the existing snapshot space ;
- Votes are replicated weekly on Spectra’s governance on Base ;
- Rewards from veSPECTRA votes will be claimable on Base ;
- No action is required from sdAPW holders.
Phase 2: Creation of the SPECTRA Locker (In Development)
Stake DAO is currently developing a dedicated SPECTRA Liquid Locker on Base, enabling seamless migration for current holders. During this phase:
- The SPECTRA Liquid Locker launches on Base ;
- sdAPW holders can migrate to sdSPECTRA with the same ratio than the one of the APW to SPECTRA migration ;
- One-way Bridge functionality from Ethereum to Base is put in place for this purpose.
Phase 3: Boosted strategies implementation (Future)
Stake DAO will deploy optimized yield strategies leveraging the veSPECTRA position. During this phase:
- Launch of Spectra boosted strategies
- Enhanced LP rewards through veSPECTRA boost
- Additional rewards for sdSPECTRA holders
- Maximized yields open to all participants
Rewards during the migration
Throughout the migration process, Stake DAO remains committed to ensuring uninterrupted vote incentives rewards. The Stake DAO Treasury is using the idle veSPECTRA boost to maximize its yield on deposited LPs in the asdCRV pool, aiming to achieve optimal revenue for the DAO, subject to market conditions and governance decisions for the DAO.
Terms and conditions of the migration, including eligibility criteria and specific timelines, are subject to change at the discretion of Stake DAO and Spectra governance.
Stake DAO will provide updates as each phase of the migration progresses. For official updates and support, please refer to Stake DAO’s verified communication channels.
Disclaimer
- This communication is for informational purposes only and does not constitute financial, investment, or legal advice. The Stake DAO migration process is subject to changes, and participants should carefully review official governance proposals and updates. Stake DAO makes no guarantees regarding future performance, potential risks, or regulatory compliance in specific jurisdictions. Users are advised to conduct their own research and consult with legal or financial professionals before participating in the migration process. Participation in the migration may involve financial risks, including potential loss of funds due to market volatility, smart contract vulnerabilities, and regulatory developments.
- Statements regarding future developments, potential benefits, or strategic plans are based on current expectations and are subject to risks and uncertainties that could impact actual results.
- Stake DAO and Spectra are committed to data privacy and will handle user information in compliance with applicable data protection regulations.
