Spectre Project Update: Results Y7 Q2
The Spectre project was stable during the fluctuating market environment witnessed in the second quarter of our seventh operational year.
Specifically, SXDT Rubicon positions have increased in value whereas conventional energy and financial trading-related investments remain mixed. The team is committed to improving these outcomes as we push through to the end of 2024 and into a new year.
On the side, the group continues to bring down its fixed cost base.
Phoenix Growth and Milestones:
Our decentralized yield platform, Phoenix, is delivering returns that are above our expectations. It has been hitting targeted APYs for all users consistently, after fees but excluding recent Ethereum and Bitcoin price gains. We now have over 1,400 users registered and have been seeing a 9% increase in active depositors while the Total Value Locked (TVL) stands at $730k. Its performance in this last summer season was healthy, with fairly good market volatility bucking digital asset prices in the summer only to register both recovery and new growth.
Ongoing Developments:
Phoenix Application: We are working on integrating fiat payment gateways so that one can make deposits in dollars and euros. The affiliate portal is up and running, whereby an individual can earn a share of the platform revenue.
Platform Support: Phoenix has always been running smoothly on all platforms, whether Mac, PC, mobile, or the latest web browser versions. We regularly update the application to deliver the best performance.
Next, the focus is on growth via launching a range of automated trading strategies on famous EA market places. Paramount to this is the ongoing development of in-house algorithms as a continued part of our R&D efforts. Once ready, they would be integrated into Phoenix and launched on major commercial venues for retail traders and investors.
SPX — Rewards Portal Merge: We estimate that in January/Feb of 2025, the SXDT rewards portal will be merged into the SPX platform.
In the light of recent economic developments, changes in major economies’ monetary policies, we are closely watching the financial landscape. The group is ready to apply cost reduction and any other measures related to products, if and when required, to be responsive in what might turn out to be a turbulent economic environment.
We are planning a webinar to review the quarter’s results and share updates on Phoenix and other R&D projects. Details will follow soon for SXDT holders.
Regulatory Notice: Phoenix and SXDT are not available for United States citizens.
