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Understanding a Smart Vault
In simple terms, a Smart Vault could be compared to a "traditional DeFi vault”, as both take on the job of managing and compounding capital via a strategy. The key difference is that a Spool Smart Vault can be individually setup by users in a permissionless manner.
The first iteration of the Spool Protocol supported DAI, USDC, and USDT as deposit currencies. The final iteration of Spool supports "all" assets as deposit currencies, starting with DAI, ETH, USDC, and USDT.
A Spool Smart Vault its contents.