Understanding the SPOOL Token
The only Official Contract Addresses for the SPOOL Token are:
The SPOOL Token is a regular ERC20 Token with a maximum supply of 210,000,000.00. The ticker is $SPOOL and it serves as a DAO governance and incentive token for:
- Voting on Spool Improvement Proposals: SPOOL Token Holders accrue voSPOOL which in turn allows them to vote on proposals that improve or upgrade the Spool Ecosystem.
- Incentive Payouts: The SPOOL Token can be emitted to protocol users or value-generating advisors if voted in by the DAO.
- Fee Structure: 80% of all Protocol Generated Revenue is paid to SPOOL Token Holders. The remaining 20% is managed by the DAO, which in turn is also managed by SPOOL Token Holders.
- Risk Model Proposals: To ensure that Risk Models are submitted and operated in good faith, they have to be vetted by the DAO, which consists of SPOOL Token Holders.
- Submitting Spool Improvement Proposals (SIPs): In order to submit a proposal to the Spool DAO for voting, a user must hold a minimal amount of SPOOL Tokens. This holding allows them to submit proposals up for review by the DAO.
- Management of the DAO Treasury: 20% of all Protocol Generated Revenue is routed to the DAO Treasury and subsequently managed by the DAO.
The Spool DAO manages this environment, incentivizing participants through fees according to their contribution.