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SpoolSPOOL
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Spool Staking

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What is Spool Staking?

Spool is a permissionless DeFi middleware ‘toolkit’ that allows users to create fully customised, automated, and diversified yield farming portfolios with a single deposit. Select your favourite yield generators from a list of supported protocols and create a diversified portfolio based on your individual risk appetite… All accessible through a single deposit address. After depositing, Spool automatically manages deposits to optimize risk/reward for individual users within the given terms under which their capital was deposited — Spool regularly rebalances liquidity between yield generating DeFi protocols, while taking individual user’s risk tolerance and array of selected strategies into account. Spool represents the next evolutionary step for DeFi on Ethereum by allowing for diversification, compounding, and rebalancing at affordable gas prices via a buffer system and transaction batching. It enables builders to easily access and combine existing and new DeFi legos, creating possibilities for novel user-facing products that leverage the power of all of DeFi instead of just a few individual primitives. Spool is designed to serve as the backend for DeFi-powered financial products and applications.
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Learn about Spool Staking

SPOOL Tokens entitle stakers to 100% of protocol revenue as voted by the DAO. Currently, revenue is split into direct payouts in the form of SPOOL/DAI liquidity (80%) and deposits into the DAO Treasury (20%). Therefore, the foremost Token Utility is protocol revenue capture.

At the moment you can earn about 35 % in staking rewards + additional 140% in voSPOOL Epoch rewards.

Staking SPOOL token is even easier than depositing into a Spool.
1. Obtain SPOOL Tokens
2. You can find out how to obtain SPOOL tokens here
3. Navigate to Spool.fi
4. Connect your Web3 wallet
5. Head over to “SPOOL Staking”
6. Click on “Stake”
7. Approve the SPOOL token for spending and wait until the approval is confirmed
8. Deposit the SPOOL token and wait for the deposit to be confirmed
That’s it! You’re now entitled to a portion of all fees generated within Spool as a valued SPOOL token holder and DAO member. Moreover, now you have the ability to vote in proposals and participate in general governance.

Like any DeFi protocol SPOOL has a smart contract risk. If their code contains bugs, users’ funds are at risk.

However, Spool’s ecosystem smart contracts have been rigorously audited by multiple established third party auditors including Zokyo and Peckshield.

Spool Protocol serves as DeFi middleware, that allows users to participate in a subset of yield generating protocols in a risk diversified, automatically managed, and efficient fashion.
The Spool Protocol then deploys a smart contract that represents the terms of engagement the user has chosen. Any deposits through this smart contract will be routed to a master contract that manages deposits of all individual Spools via separate adapters for each supported strategy. The Spool Protocol regularly rebalances portfolios while adhering to individual terms to ensure each individual Spool is optimized at all times in terms of risk-adjusted yield.

You need to know these four basic things to understand Spool:

Spool Protocol
The Spool Protocol consists of all Smart Contracts that make Spool a usable Decentralized Finance product.
A Spool
A Spool is most easily defined as a new form of “vault”.
SPOOL Token
The SPOOL Token is the token fueling the Spool Protocol.
Spool Labs
Spool Labs is a seperate entity that is tasked with executing decisions made by the Spool DAO.

Spool is not a regular startup controlled by a team and funded by VCs. Spool was bootstrapped as a DAO with many founding contributors who could be divided into “executive advisors” and “builders”. You can find a list of contributors on the website (https://www.spool.fi/).

Joining the DAO and working on Spool is as easy as staking SPOOL, attaining a Spooler role in the Spool Discord and applying to a working group.

SPOOL is the native governance token of the Spool DAO.

There is no “other” controlling entity that could intercept the dealings of the DAO. This means that any revenue created by Spool Protocol or other products the DAO may launch accrues within the DAO.

Currently, SPOOL can be staked to receive 80% of the Spool Protocol Generated Revenue (PGR) as well as weekly accrual of voSPOOL. voSPOOL acts as governance power, allowing holders to propose and vote on the addition of new supported protocols, risk models, and treasury spending.#

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