Spectrum Finance: simple and clear
Hi all. My name is Ivan Elizarov and I am in charge of Spectrum marketing. We recently rebranded from ErgoDEX to Spectrum. A lot of work has been done and we are pleased with the result.
Today we are making another change. Our brand will be simply called Spectrum Finance. In this note, I want to talk about how Spectrum originally appeared and why additional changes were needed.
Let’s start with the backstory of the name. Back in January of this year, me and Spectrum founders, Yasha and Ilya, started discussing side-chain technology in order to move away from a risky decision of making a bridge based cross-chain implementation. The technology inspired us and from the very beginning it was clear that this decision would affect the future of the project. We decided to move away from the “DEX only” positioning and cover wider areas. It was also a necessary step to move away from the direct association with Ergo, because our project is not only focused on this blockchain.
Some of us quickly came up with the name Spectrum, because like our project it consists of many different waves. Therefore, we immediately came to the general opinion that this name is suitable for a new brand.
The discussion of the Spectrum.Network sidechain opened up many new vectors for the development of the project: on one hand, it becomes possible to build a more efficient solution for the cross-chain DEX, and on the other hand, provide a network for the development of the cross-chain DeFi to other projects.
Along with this, we also discussed the development of the dApp direction, which should eventually turn into a super-dApp. For a mass understanding of each of these projects, we decided to implement an umbrella brand with different branches. All of the above was to be combined into an ecosystem called Spectrum.
We have researched and developed a new brand platform. Then we rebranded, leaving behind ErgoDEX.
Our community reacted positively to the changes and appreciated the new brand identity. There you’ll agree with me, it’s really amazing. However, it soon became clear that to build knowledge and explain to a wide audience everything that is embedded in the brand architecture would be difficult. The community rarely delved into the specifics of the Spectrum ecosystem, continuing to discuss the DEX and the side chain.
The icing on the cake was the news that there is a large telecommunications and mass media company called Spectrum in the US. This initially caused some confusion from our American users.
Last but not least, due to name competition, we had very little chance of getting to the top of search engines for “Spectrum”. Because of this, it has become almost impossible to find our project.
We talked a lot and decided to simplify the brand architecture. We do not want to deviate from the idea of the Spectrum name. Firstly, because everyone liked it, and secondly, it fits our vision. But we decided to focus on the title of our main work, namely working with finance. Therefore, our project is now called Spectrum Finance.
We define Spectrum Finance as an open-source cross-chain DEX, which will be built on a multi-chain network, called a Spectrum Network. By the way, as you may have noticed, we decided to abandon the dots in the naming. Everyone is used to writing without them and we decided not to interfere with this. The project’s token will be known as SPF as an abbreviation of the project’s name Spectrum Finance. That’s it, simple and clear.
I want to emphasize that all we are doing is modifying our name to be more accurate to our brand . We have exactly the same team, the same tasks and goals. We hope that these small changes will help you to better understand what we are building and continue the path to cross-chain DeFi together.
