Spectre Project Update: Results Y7 Q1

Q1 Performance Overview:

In the first quarter of its seventh operational year, the project continued to face a challenging market landscape. While SXDT Rubicon positions continue to strengthen, traditional energy and financial trading-linked investments have underperformed, keeping weekly rewards modest. The team is actively addressing this since the close of 2023.

Phoenix Growth and Milestones:

Having completed its first year in May, Phoenix, the decentralized yield platform, has surpassed target APYs for all users, net of fees and excluding capital gains from Ethereum and Bitcoin’s recent fluctuations. The user base now approaches 1,000, though active depositors remain around 6%, with TVL (total value locked) seeing a 20% rise to approximately $600k. That being said, summer volatility affecting Ethereum and other digital asset prices resulted in drops in inventory value, resulting in certain gains being eaten into. Recovery since, has resumed.

Ongoing Developments:

• Phoenix Application: Integration of fiat payment gateways is underway, allowing deposits in dollars and euros. The affiliate portal is live, enabling users to earn a lifetime share of platform revenue.
• Platform Support: Phoenix now operates smoothly across various platforms, including Mac, PC, mobile, and modern browsers. Regular updates ensure ongoing efficiency.
• Expansion Strategy: Post-feature development, the focus will shift to growth and marketing, with the initial spotlight on Thailand, leveraging the region’s positive blockchain stance. The goal is to double active depositors and TVL.

Future Outlook:

As we wait for energy investments and Rubicon positions to materialise, the team is exploring yield-enhancing strategies to supplement SXDT income in preparation for the next blockchain surge. These include the ongoing development of its in-house algorithms as part of the ongoing R&D efforts. Once these are ready, they will be introduced as part of Phoenix and launched on commercial venues for retail traders/investors.

Separately, after the recent double-rate-point cut by the Federal reserve and liquidity spurring measures by the China, strain on funding markets has eased, paving the way for a fork in the economic landscape; either major economies slip into recession, after staving off an inflationary spiral or growth continues with inflation contained. The group is monitoring this and will take further cost reduction and product related measures as and when necessary to remain as lean as possible, should the economic environment deteriorate further.

A webinar is planned to review the quarter’s results and share updates on Phoenix and other R&D projects. Details will be sent to SXDT holders soon.

Regulatory Notice: Phoenix and SXDT are unavailable to U.S. citizens.