The Metaverse — Spool, a new DeFi protocol that solves the long-standing issue of DeFi generalized automation, has announced the date of its fair launch Balancer LBP via Copper, set for December 13 at 17:00 UTC.
The fair launch will finish after three days, on December 16 at 17:00 UTC.
This marks the first public sale of SPOOL tokens, the governance tokens of the Spool Platform, which will occur through the Balancer Liquidity Bootstrapping Pool (LBP). In a nutshell, an LBP acts similar to a Reverse IDO where tokens are gradually sold while more base tokens get added to the pool along a curve. A total of 5% of the supply will be available for the LBP, starting at a weight of 96:4 and an initial price of 2.44 DAI. By the end of the event, the pool will be balanced to a standard 50:50 composition.
Spool is a permissionless DeFi middleware ‘toolkit’ that allows users to create fully customized, automated, and diversified yield farming portfolios with a single deposit. After depositing, Spool automatically rebalances funds between an array of yield generators selected by the user to optimize risk and reward, while taking the individual user’s risk tolerance into account.
Spool represents an evolutionary step forward for DeFi on Ethereum by allowing for diversification, compounding, and rebalancing at affordable gas prices via a buffer system and transaction batching.
Furthermore, Spool is a ‘middleware’ that makes it very easy for builders to create unique defi products that leverage Spool’s capabilities in the back end. Tokenized Spools acting as yield-bearing stable coins, or fixed term assets, can be easily traded on secondary markets and exchanges, thereby allowing non-crypto native institutional finance entities to gain exposure to DeFi and removing almost all friction and barriers to entry.
Spool is managed by a highly-qualified DAO that includes stakeholders and venture investors such as DFG, Fourth Revolution Capital, CMS, LD Capital, AU21, Digital Strategies, JRR, Signum Capital, and GBV, as well as the founders of Barnbridge, Synthetix, Bancor, F2Pool, Cobo Wallet, AllianceBlock, Centrality, Bridge Mutual, DAIC, ATKA, Staking Rewards, Energy Web Token, Zokyo, BlockBank and more.
“I think Spool is well-positioned as an incredibly promising DeFi middleware,” said Dan Matuszewski, Principal, and Co-founder at CMS Holding. “Middle layer projects will become more and more prevalent in the space as DeFi user adoption increases and a new set of customer needs emerge.”
“Spool’s middleware solution allows us to create custom strategies that can be integrated in DeFi applications via SDKs,” added Leslie Tam, co-founder of Genesis Block Ventures. “As a fund that is actively ‘farming’ and holding a firm interest in DeFi, this is a toolset that we believe has been missing from the market and we look forward to deploying Spool to provide superior risk-mitigated outcomes for our fund strategies.”
“I look forward to Spool helping me allocate funds automatically and cleverly, and using algorithms, instead of hard work, to increase profits and reduce risks,” said the co-founder of F2Pool, Shixing Mao.
Spool is a composable and permissionless DeFi middleware that seamlessly connects users seeking passive yield with DeFi strategy builders to create the first “fire-and-forget” optimized yield farming tool.