APWine Token, now known as Spectra, is a decentralized interest rate derivatives protocol that focuses on fixing interest rates and trading yield. Initially branded as APWine, the project rebranded to Spectra on July 10, 2023. The rebranding kept the APW token, its ticker, and supply characteristics unchanged, with modifications only in visual identification. Spectra is built on the Ethereum Virtual Machine (EVM) and allows users to explore new interest rate markets, hedge against yield volatility, and build custom decentralized applications (dapps) on its permissionless platform.

$APW is the native token of the Spectra protocol (formerly APWine). It is used primarily for governance, allowing holders to vote on proposals that shape the future of the protocol. The token’s on-chain name remains “$APWine Token.” Additionally, $APW can be locked to earn incentives and participate in the protocol's yield generation mechanisms. The token exists on the Ethereum Mainnet and Polygon networks and has a maximum total supply of 50,000,000 tokens.

The primary purpose of $APW is to facilitate governance within the Spectra protocol. Token holders can vote on proposals, participate in gauge incentives, and earn rewards by locking their tokens. The governance system, powered by $APW, ensures that the protocol remains decentralized and community-driven. Additionally, $APW holders may benefit from protocol revenues, subject to governance approval.

The main use cases for $APW include:
- Governance: Voting on proposals that impact the protocol’s development and operations.
- Gauge Incentives: Participating in gauge incentives and earning rewards by locking tokens.
- Yield Generation: Earning additional yield on liquidity positions and receiving bribes for gauge votes.
- Protocol Revenues: Benefiting from potential protocol revenues once the fee switch is activated.
- veAPW: Locking $APW to obtain vote-escrowed APW (veAPW) for influencing emission distributions and governance decisions.

The value of $APW is determined by several factors, including:
- Market Demand and Supply: The general market conditions, demand for governance participation, and the supply of tokens in circulation.
- Utility and Adoption: The level of utility provided by the token within the Spectra ecosystem, including governance, yield generation, and incentive mechanisms.
- Protocol Performance: The overall performance and adoption of the Spectra protocol, including the effectiveness of its interest rate derivatives and yield trading services.
- Governance Decisions: Decisions made through the governance process, such as changes in emission rates, incentive structures, and protocol upgrades.

The token distribution for $APW is as follows:
- Max Total Supply: 50,000,000 APW
- DAO Reserves: Held in multisig wallets on Ethereum Mainnet and Arbitrum, used for governance-approved causes like powering incentives to pools and bounties.
- Team Allocation: Vested until May 21, 2025.
- Investors and Advisors: Fully unlocked for the 2021 Seed Round, with extensions and OTC deals tracked via the vesting contract.
- Vesting Contract: Used for new team members' allocations or strategic OTC deals.

Note: Use the “Supply Distribution” section on this page to explore the $APW token’s live distribution on Ethereum.

The vesting schedules for $APW include:
- Team Allocation: Vested until May 21, 2025.
- Extension Round: Linear vesting ending in late April 2025.
- Vesting Contract: Utilized for team members' allocations and OTC deals, with specific terms tracked via the vesting contract.
- Investors and Advisors: Fully unlocked from the 2021 Seed Round.

$APW brings several technological innovations to its ecosystem, including:
- Permissionless Pool Creation: Enabling anyone to create new markets and swap yield derivatives without restrictions.
- Yield Tokenization: Separating the right to principal from future yield, unlocking new financial possibilities beyond standalone interest-bearing tokens.
- Fixed Rates: Allowing users to lock in interest rates on their yield-generating positions, providing certainty and stability.
- Upfront Yield and Discounted Tokens: Offering unique opportunities for discounted asset acquisition and fixed returns at maturity through Principal Tokens (PTs).

$APW distinguishes itself from other cryptocurrencies through its focus on interest rate derivatives and yield trading. Unlike many tokens that primarily serve as a medium of exchange or store of value, $APW enables users to hedge against yield volatility, lock in fixed rates, and create custom financial strategies. Additionally, the permissionless nature of the Spectra protocol allows for greater flexibility and innovation within the DeFi ecosystem.

The team behind Spectra (formerly APWine) and $APW includes various entities and individuals contributing to its development and adoption. Spectra Protocol is a decentralized interest rate derivatives protocol supported by Perspective SAS, a company that develops the Spectra Protocol and Spectra App. The governance of the protocol is managed by the community through a decentralized autonomous organization (DAO), ensuring a community-driven approach to the protocol's evolution.

When it comes to exploring the $APW token price and its live on-chain metrics on Ethereum, there’s no better place than this page. But if you are interested in the APWine Token project’s progress, latest partnerships, new potential token utilities, and other announcements, then you need to check out the project’s official website, social media channels (like X (former Twitter) and Telegram), and other official outlets. You can find links to these sites in the “APWine Token Links” section on this page.