voSPOOL holders direct 50% of the SPOOL Reward Emissions coming from the Spool DAO Treasury. These emissions incentivize all Spool Smart Vaults which meet the minimum threshold of having at least 1% of voSPOOL allocated to them. The amount of SPOOL Tokens these Smart Vaults receive is proportional to the amount of voSPOOL allocated to them.
Tying the emission of SPOOL Tokens to voSPOOL ensures that voSPOOL (beyond governance) has economical utility and incentive to be accumulated. If you want to learn more about accumulating voSPOOL, go here.
Visual explainer on how voSPOOL increases APY for Spool Smart Vaults.