SPOOL Tokens from the Treasury will be emitted to the first set of Spool Smart Vaults in order to bootstrap adoption. 50% of these emissions are routed depending on voSPOOL votes and the remaining 50% is routed based on how much a given Smart Vault produces in Protocol Generated Revenue and therefore net profit for the ecosystem.
Since the Spool DAO collects 20% of Protocol Generated Revenue via Performance Fees, every Smart Vault has a quantifiable amount of profitability towards the DAO and therefore towards SPOOL Token Holders. Smart Vaults that generate more profit for the DAO will receive more SPOOL Incentives, further increasing their expected value towards both Spool Participants and Token Holders.
An example of the mathematics related to the emissions of SPOOL Tokens can be found in the info graphic below:
Example of how SPOOL Emissions are calculated.