Sperax, an early adopter of Layer 2 solutions, has achieved success with its USDs stablecoin on the Arbitrum platform. Despite starting with only 1,000 users, Arbitrum now has 150,000 returning users and a total value locked of $2.65 billion. Sperax is currently upgrading the USDs protocol to version 2.0, which will allow direct deposits and withdrawals of collateral and the harvesting of yield-farmed tokens. The upgrade has resulted in Sperax outperforming Bitcoin and Ethereum, with a 34% gain.

AI Sentiment: Positive