{"id":1397,"date":"2020-08-15T18:14:20","date_gmt":"2020-08-15T15:14:20","guid":{"rendered":"https:\/\/esatoshi.club\/?p=1397"},"modified":"2020-08-15T18:18:36","modified_gmt":"2020-08-15T15:18:36","slug":"sperax-x-satoshi-club-ama-recap-from-august-13","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2020\/08\/15\/sperax-x-satoshi-club-ama-recap-from-august-13\/","title":{"rendered":"Sperax x Satoshi Club AMA Recap from August 13"},"content":{"rendered":"\n

Welcome to another exciting chapter of our Satoshi Club AMA Series, today we would like to tell you about the session with our friends from SPERAX<\/a>. The AMA took place on August 13 and our guests were Zhou Yu<\/a> (Researcher) and Frida Cai<\/a> (Global strategic partner). <\/p>\n\n\n\n

The total reward pool was $600 and it was splitted into three parts.<\/p>\n\n\n\n

In this AMA Recap we will try to summarize some of the most interesting points for you.<\/p>\n\n\n\n

……………………………….. <\/p>\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Hello dear community! Today our guests are from @sperax<\/a>. The sale is starting in 12 hours! KYC IS OPEN: sperax.io. You can begin your registration now. Welcome @yuzhou87<\/a> @FridaCai_Sperax<\/a>.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Hi everyone 👋<\/p>\n\n\n\n

Zhou Yu: <\/strong>Thanks\nhello everyone.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: We are glad to have you here. Please\ntell us a bit about yourself \ud83d\ude42 and a bit about Sperax.<\/p>\n\n\n\n

Zhou Yu:<\/strong> My name is Joe. I am currently studying in UCLA for\nMathematics of Computation (mathematical side of computer science) and pursuing\na Philosophy minor. I have been working as research assistant for Prof. Rafail\nOstrovsky for cryptography and theoretical computer science back in school. I\njoined Sperax last June under the supervision of world leading cryptographer\nProfessor Yongge Wang. I am now a researcher for Sperax. I am one of the\nauthors of Sperax latest IEEE INFOCOM paper and I am the presenter. So ask me\nanything about BDLS consensus or the paper if you are interested. \ud83d\ude42<\/p>\n\n\n\n

Frida is our\nglobal strategic partner responsible for marketing side of mainly north America.\nShe holds a bachelor degree in Foreign Affairs and a history minor from\nUniversity of Virginia. She is a fresh graduate from Columbia University\nGraduate School of Journalism with a Master of Science degree in Data Journalism.\nShe has extensive past experience in reporting the latest technology trends in\nAsia and was mesmerized by the potential of crypto and blockchain industries\nand has been devoting her career into the space ever since.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Thank you for this introduction \ud83d\ude42\nwe’ve collected some hundreds of questions from the community. We’ve selected 6\nof them to be discussed in the first part. Are you ready to start?<\/p>\n\n\n\n

Zhou Yu: <\/strong>Sure.\nMaybe I can introduce Sperax very briefly first?<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Of course! this is the point of the\nAMA, we know that you have a good team based from your explanation, let’s see\nthe project.<\/p>\n\n\n\n

Zhou Yu: <\/strong>Sperax\nproject originates from a blockchain proposal by world-leading cryptographer,\nProfessor Yongge Wang from the University of North Carolina. Funded by the\ninternationally-renowned blockchain venture capitals like Outlier Ventures,\nSperax is a new-generation financial public blockchain. Founded at Menlo Park\nin Silicon Valley, California in 2018, Sperax team now spreads across the U.S.,\nSingapore and China.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: I see that your education\/work is\nmainly based in Nort America. Where is the name coming from? Smth from latin?<\/p>\n\n\n\n

Zhou Yu: <\/strong>Haha\nmany people asked this question. Someone in our marketing side came up with\nthis pretty fancy name from Latin.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: I speak some Latin, so it sounded\nfamiliar.<\/p>\n\n\n\n

Zhou Yu: <\/strong>He\ntold us it means “trust” and everyone was just amazed haha.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: So, shall we proceed to the first\nquestion of the community?<\/p>\n\n\n\n

Zhou Yu: <\/strong>I\nam ready.<\/p>\n\n\n\n

Q1 from Bitcointalk User linderm<\/strong><\/p>\n\n\n\n

I have seen that you have multiple consensus\nprotocols. Why do you need more? What are its functions?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>When\nwe proposed Sperax project, we analyzed many current blockchains and of course\ntheir consensus protocols since consensus protocols are like the souls of\nblockchains. They are all good and some are impressive. However, we found that\nthey were all based on a naive network model, aka “synchronous network\nmodel.”<\/p>\n\n\n\n

I mean this model is not bad. It is\nsimple so leaves much room for the designers. But it can overlook some\nsignificant security problems that only occurs in the real environemnt. Our\nprofessor is specialized in this area. We chose to use the more realistic and\nof course more challenging one \u2014 partially asynchronous network. Under this\nmodel, many realistic attacks have to be taken into consideration when\ndesigning the protocol. Especially DoS attacks because the network is not\nalways in a sync mode.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: So, you are making it more secure.<\/p>\n\n\n\n

Zhou Yu: <\/strong>Basically\nyes. But we did not stop here. After we finished our first draft (BDLS\nconsensus is an academic paper at first), we asked ourselves, is it enough.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Never stop, always improve. \ud83d\ude42<\/p>\n\n\n\n

Zhou Yu: <\/strong>Our\nProf thinks we can do better. In a nutshell, we cannot only improve security\nwithout taking performance or efficiency into account at the same time. So we\ndevoted the rest of our time in improving the efficiency of our consensus. The\nmost significant part is communication complexity. Since communication usually\ntakes the most time. <\/p>\n\n\n\n

Luckily, in the end we managed to\nreduce communication complexity significantly. Our BDLS enjoyed double the\ncommunication speed than the fastest one.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Communication between nodes you mean?<\/p>\n\n\n\n

Zhou Yu: <\/strong>Yep.\nNodes have to send messages back and forth to reach consensus. In async\nsetting, it gets even more complex. So you can imagine when we were notified by\nIEEE INFOCOM that our paper was approved, we are SOSOSO excited haha. <\/p>\n\n\n\n

I think my answer is a bit too long. I\nwill keep it shorter for the following questions.<\/p>\n\n\n\n

Q2 from Bitcointalk User bitmartbounty<\/strong><\/p>\n\n\n\n

What’s the purpose behind a DUAL TOKEN system\nof SPA and SCOIN, can you explain their utilities and diffences and can I swap\nbetween Spa and SCOIN?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>Sperax\necosystem issues two tokens: SPA as the utility token on BDLS and sCOIN as the\nnative stablecoin. SPA is the utility token in the Sperax blockchain just like\nETH in the Ethereum blockchain. It ensures the economic incentives for\nparticipants in the BDLS consensus. It also reflects the network value for\nSperax.<\/p>\n\n\n\n

When users join the Sperax network,\nthey could earn SPA as they run nodes and validate transactions. Similar to\nother public blockchain, gas fees are collected in SPA as transactions happen\non the Sperax blockchain. Moreover, SPA is also the governance token for the\nprotocol. In short, SPA is the utility token. In contrast, sCOIN is fiat-pegged\nstablecoin issued on the Sperax blockchain. Moreover, it is the native\nstablecoin of Sperax blockchain. We are the first public blockchain that issues\na native stablecoin btw. <\/p>\n\n\n\n

sCOIN is minted through depositing\nfiat currencies by users and is issued by financial nodes (regulated financial\ninstitutions with fiat custody) in the network.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>So the stable coin is covered by fiat?<\/p>\n\n\n\n

Zhou Yu: <\/strong>sCOIN\nis fiat-pegged.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: It’s smth different? I didn’t see\nthis model. oh, just read more carefully. You are the only one in the world.<\/strong><\/p>\n\n\n\n

Zhou Yu: <\/strong>Haha\nif you are interested, check out our econ page on our website. \ud83d\ude42<\/p>\n\n\n\n

Frida Cai_Sperax:<\/strong> <\/strong> Or read it here. <\/p>\n\n\n\n

Sperax-Financial-Service-Network-White-Paper<\/a>Download<\/a><\/div>\n\n\n\n

Serg | Satoshi Club<\/strong>: hey Frida! Welcome \ud83d\ude42<\/p>\n\n\n\n

Frida Cai_Sperax:<\/strong> Sorry our KYC just opened up and a flock of registrations went in from all over the world.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: That’s a good sign, I have seen you\nguys on a lot of platforms.<\/p>\n\n\n\n

Q3 from Telegram User @madkaren<\/strong><\/p>\n\n\n\n

Why are you using the unpredictable random\nbeacon RANDAO? why do you need a protocol that presents a joint random number?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>RANDAO\nis for our consensus protocol BDLS. BDLS belongs to the category of BFT\nconsensus protocol which requires randomness to ensure its security.<\/p>\n\n\n\n

Yes we can choose a centralized\nrandomness provider or naive randomness like hashing the previous block info.\nBut if we choose a centralized randomness provider, what\u2019s the purpose of\nblockchain right?<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: Right. 😀<\/p>\n\n\n\n

Zhou Yu: <\/strong>And\nif we choose naive randomness, the process is deterministic. This means we have\nto reduce our security level significantly. So we end up in choosing a\ndecentralized, collective randomness. <\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: You pay a great attention to\nsecurity. That’s a good thing. Your name, which means trust, really fits you.<\/p>\n\n\n\n

Q4 from Telegram User @Eraybukucu<\/strong><\/p>\n\n\n\n

Sperax token holders have the right to\ngovernance by contributing to the design & upgrade of the ecosystem. How\nmany tokens do I have to hold to participate in the decisions, and what is the\nstructure of this, would this system be corrupted if someone holds +50% of the\ntokens?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>This\nAMA is very tech-focus haha. I am pretty excited.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: We try to understand the important\nthings. 😀<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>We try to do the translation job. <\/p>\n\n\n\n

Zhou Yu: <\/strong>Sperax\nis basically a PoS blockchain. So you stake to participate in block generation.\nOur testnet makes 10k SPA as one staking unit (this might change when our\ntestnet is launched, our econ simulation model is still experimenting on this\nparameter).<\/p>\n\n\n\n

Will our system be corrupted by 51%\nattacks? you guess you mean 51% majority stakes. Any BFT consensus protocol\nneeds over 2\/3 honest participants to ensure secure consensus, so malicious 51%\nstaking holder is a big problem for any BFT protocol which every current PoS\nblockchain uses. I mean let malicous group control over 50% stakes are itself\ncrazy. Like half of your fortune in a state is controlled by terrorists.<\/p>\n\n\n\n

So over 51% staking will put any BFT\nconsensus blockchain into security vulnerablility. But since we use extra\nrandomness, we have an extra layer of defense even in this situation.<\/p>\n\n\n\n

Serg | Satoshi Club<\/strong>: We don’t negotiate with terrorists.\n😀<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>And do you have mechanisms that prevent this\nfrom happening? I mean someone or a group holding such a big part?<\/p>\n\n\n\n

Zhou Yu: <\/strong>I\nfeel in general we do not need to. I mean if someone say their blockchain is\nsecure no matter what (even when the world is at its end), you prob won\u2019t\nbelieve him.<\/p>\n\n\n\n

Q5 from Telegram user @nerddutch<\/strong><\/p>\n\n\n\n

You claim that after partnering with\nChainlink, you can finally bring real-world data into the Sperax ecosystem and\nconnect to traditional non-blockchain systems. How would you do that? Please\nelaborate.<\/em><\/p>\n\n\n\n

Frida Cai_Sperax:<\/strong> <\/strong>We are thrilled to share with the world today that our mission to make decentralized financial services globally accessible is marking another milestone, thanks to our upcoming integration with Chainlink. By integrating Chainlink, we can finally bring real-world data into the Sperax ecosystem and connect to traditional non-blockchain systems. This allows our developers to create smart contracts connected to off-chain data feeds, APIs, traditional payment infrastructure, and more, which greatly expands the number of use cases we can build solutions through DeFi and other large markets.<\/p>\n\n\n\n

Within our DeFi\necosystem, Chainlink oracles will aggregate market information from a variety\nof high quality data sources to serve as reference prices for assets such as\ncryptocurrencies, fiat currencies, commodities, indices, and more. DeFi\napplications can then use those price feeds as the basis for making automated\ndecisions like how big a loan a user can take on, whether or not to liquidate\nsomeone\u2019s collateral, and whether or not a payment actually occurred off-chain.<\/p>\n\n\n\n

This\nintegration will enable Sperax to leverage Chainlink\u2019s decentralized oracle\nnetwork to bring real-world data to any smart contract running on the Sperax\nnetwork, and ultimately steer users and developers towards better financial\ndecisions and more passive incomes through highly accessible and reliable\nfinancial products.<\/p>\n\n\n\n

Irina K.| @Satoshi_Club: <\/strong>Great initiative. Good luck with that. 👍<\/p>\n\n\n\n

Q6 from Telegram User @dtv1907<\/strong><\/p>\n\n\n\n

Can you tell me more about the next\n$SPA Public Sale? Do I need to KYC to join the Public Sale? Is there any lock\nup period after I buy $SPA and other round in the future? Can you give me the\npoints that convince me to buy $SPA?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax:<\/strong> <\/strong>1. The KYC is opened for registration now at sperax.io. The sale will not begin until August 14th at 10AM ET.<\/p>\n\n\n\n

2. You can\nrefer to https:\/\/spa.sperax.io\/4.-distribution-and-unlocking-schedule for the\nunlocking schedule. <\/p>\n\n\n\n

3. SPA is\nthe utility token in the Sperax blockchain just like ETH in the Ethereum\nblockchain. It ensures the economic incentives for participants in the BDLS\nconsensus. It also reflects the network value for Sperax. As users join the\nSperax network, they could earn SPA as they run nodes and validate\ntransactions. Similar to other public blockchain, gas fees are collected in SPA\nas transactions happen on the Sperax blockchain. Moreover, SPA is also the\ngovernance token for the protocol.<\/p>\n\n\n\n

……………………………….. <\/p>\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE\nQUESTIONS<\/strong><\/p>\n\n\n\n

The chat was open for 80 seconds; a lot questions were posted by the Satoshi Club community. Our guests chose some of them. <\/p>\n\n\n\n

Q1 from Telegram User <\/strong>@anhdaikull<\/strong><\/p>\n\n\n\n

How different is sCOIN compare to other stable\ncoins?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax:<\/strong> <\/em>Stablecoins exhibit high volatility that\nfundamentally stems from poor adjustment to supply and demand, because they\noverlook what the fintech market is after. To address that, Sperax designed a\nbacked fiat-pegged stablecoin. <\/p>\n\n\n\n

By partnering with regulated financial\nservice providers, Sperax stablecoin could also ease the barrier by on-boarding\nusers holding fiat. While these are similar to Tether\u2019s initial claims, their\nvalidity has come under criticism of late. The trouble is, Tether isn\u2019t held to\nthose promises because it\u2019s not intended for use by regulated financial service\nproviders.<\/p>\n\n\n\n

Regulated financial service providers\nand OTC desks are best at interacting with end users and helping consumers\nunderstand their products and services. By leaning on these providers, Sperax\ncan focus on providing liquidity for the token. By issuing geography-specific\nstablecoins, Sperax can support cross-border transactions in conjunction with\nfinancial service providers.<\/p>\n\n\n\n

In order to further ensure stability,\nSperax manifests for the consumer in a stabilization fee charged each time\nusers exchange fiat for stablecoins. This in turn is used to reward financial\nnodes, as well as for buyback of the SPA tokens.<\/p>\n\n\n\n

Finally, where other stablecoins have\nfailed due to external factors like protocol incompetence, Sperax stablecoins\nhave diversified dependencies. Where a decentralized stablecoin issued with\nEthereum-centric collateral rises and falls with Ethereum, Sperax provides an\nextra layer of stability for the SPA token holders by being the first native\nstablecoin in the public blockchain ecosystem. https:\/\/medium.com\/sperax\/a-stablecoin-that-actually-works-1c0afa143256<\/a> read more here.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Q2 from Telegram User @puppyz1<\/strong><\/p>\n\n\n\n

So your project does seem to be promising, but\nwe have seen many of the project team member desert the team and project for\nsome unknown reasons and how can you ensure that your core team members will\nremain committed to this project?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax: <\/strong>I am confused by what you mean that many of\nthe team members desert Sperax…? Because there is not. 😅\nAs for how to keep people committed, we implement a flat management, which\nmeans no c-level position is assigned. Everyone is deemed as a partner who is\nin charge of different sectors.<\/p>\n\n\n\n

Q3 from Telegram User @Dhanu006<\/strong><\/p>\n\n\n\n

Why is Sperax integrating Chainlink Oracles?\nWhat advantage does it bring to Sperax?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>In\nshort, Chainlink provides us with a decentralized oracle network. It can\nprovide us with a secure and reliable data channel, both data feed and output.\nSo developers on Sperax has more reliable data and API access and have more\nroom to develop better dapps, especially better DeFi.<\/p>\n\n\n\n

Q4 from Telegram User @sayasyno<\/strong><\/p>\n\n\n\n

Why sperax make 2 tokens?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax: <\/strong>On top of BDLS, financial infrastructure is\ndesigned in the ecosystem to support users of the network. Sperax introduces a\nnative stable coin design in the system that connects its decentralised economy\nwith the physical world. Just like it is hard to imagine an economy without\nfinancial systems or a government body, it is necessary for a digital economy\nto have its own currency and governance model to power new business models. The\nplatform token – SPA, is introduced both to serve as the governance token in\nthe ecosystem and the fuel to power network transactions.<\/p>\n\n\n\n

Q5 from Telegram User @baobao265<\/strong><\/p>\n\n\n\n

I think there are 3 core issues: security,\nscalability and interoperability which will bring competitive advantages to\nblockchain projects. So how does Sperax outperform other projects?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax: <\/strong>For security, as our answer for BDLS has\nexplained, our BDLS consensus protocol is designed in the most realistic\nnetwork model so the security of blockchain is greatly improved. For\nscalability, I prefer a more general term — performance or efficiency. Since\nthe main goal here is for us to improve the processing speed in blockchain. <\/p>\n\n\n\n

Our BDLS protocol has significantly\nimproved processing speed or efficiency by enhancing communication complexity\nof our consensus. The last one is interoperability. I guess here you mean how\nour Sperax blockchain can be interoperable with real world finance. We connect\nour blockchain ecosystem with the traditional financial world by our unique\ndesign of financial layer. It consists of our native stablecoin sCOIN and a\ngroup of authorized financial institutions. We believe that our unique\nfinancial layer can truly integrate the new blockchain world with the\ntraditional world.<\/p>\n\n\n\n

Q6 from Telegram User @bhu85<\/strong><\/p>\n\n\n\n

How important is the community to Sperax\nProject and how can we collaborate in development?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax: <\/strong>Sperax BDLS is mathematically proven to\nprovide an extra layer of security against DoS attacks in an asynchronous\nenvironment with fewer safety assumptions \u2014 such as on the open Internet. 2019\nsaw Sperax enthusiasts recognizing this potential at meetups with our current investors\nand partners, including Outlier Ventures, FBG Capital, Newstyle Capital, etc.\nWe\u2019re also proud that we\u2019ve been able to partner with various portfolio\ncompanies in the China Academy of Science Holding (CASH), the largest state\nlevel tech investment firm.<\/p>\n\n\n\n

We are always striving to foster\nhealthy community discussions surrounding the benefits that Sperax presents to\nthe PoS community, as well as the larger blockchain ecosystem.<\/p>\n\n\n\n

At present, the Sperax project has\nestablished R&D teams in both China and the United States, carrying out\ncollaborative development, researching key technologies, and simulating and\ntesting key modules. We host meet-ups internationally, so please keep an eye\nout for a future one that might be near you!<\/p>\n\n\n\n

Q7 from Telegram User @dinhnam862<\/strong><\/p>\n\n\n\n

Why is the Sperax ecosystem issuing 2 tokens:\nsCoin and SPA? What is Sperax’s main token? As far as I know, Sperax is the\nfirst decentralized system to have a native stablecoin. So what is the main\nfunction of sCoin?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>Sperax\nis a financial public blockchain. A native stablecoin like sCOIN will play a\ncrucial part in achieving our goal. It is vital in every one of our three main\nuse case: a decentralized payment system; global remittance and transfer; DeFi\necosystem.<\/p>\n\n\n\n

Q8 from Telegram User @Truongkhanh<\/strong><\/p>\n\n\n\n

What is the utility and use cases of Sperax?\nCan we use it in real life or not?<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Frida Cai_Sperax: <\/strong>https:\/\/sperax.io\/token<\/a> <\/strong><\/strong><\/p>\n\n\n\n

Q9 from Telegram User @Dhanu006<\/strong><\/p>\n\n\n\n

How can we participate in Sperax’s network and\nbecome a nodes and validator of SPA? What is the requirements for equipment?<\/em><\/p>\n\n\n\n

Zhou Yu:<\/strong>\nA regular PC is enough. If ordinary user cannot participate, our blockchain\ndefeats its own purpose. \ud83d\ude42<\/p>\n\n\n\n

Q10 from Telegram User @kun4321<\/strong><\/p>\n\n\n\n

What is your plans in place for global\nexpansion, are Sperax Project focusing on only market at this time? Or focus on\nbuilding and developing or getting customers and users, or partnerships? Can\nyou explain this?<\/em><\/p>\n\n\n\n

Frida Cai_Sperax: <\/strong>Founded in Menlo Park, Sperax now has offices\nin SF, NY, Singapore and China. We are expanding in southeast Asia and would\nopen a lab in Germany.<\/p>\n\n\n\n

Q11 from Telegram User @rioliandaro<\/strong><\/p>\n\n\n\n

SperaX uses a consensus algorithm. BDLS, it\nlooks like it looks good in terms of security and scalability. However, I am\nnot sure whether SperaX can play a role in connecting the real world and the\nblockchain sector in the financial sector. Do you have any other plans? or do\nyou have a business case you’re working on?<\/em><\/p>\n\n\n\n

Zhou Yu: <\/strong>Sure.\nThese three use cases might be helpful to your question: <\/p>\n\n\n\n

i. Xiaomi Financial Virtual Bank with\nfull licenses authorized by Hong Kong Monetary Authority Proposed Sperax\nstablecoin for the following uses cases:<\/p>\n\n\n\n