DeFi’s industry has become synonymous with Yield Optimization platforms. The problem with most of these solutions, however, is that they’re not accessible to everyday users. While at the core of their functionality is the ability to automate yield farming operations, they don’t always deliver on user experience nor composability.
Spool hopes to fulfill this need. The new project has recently announced a December 13 Fair Launch using Balancer’s Liquidity Bootstrapping, or LBP, via the Copper platform. In order to distribute 5%, the project has opened a weighted pool of SPOOLDAI liquidity that eventually will reach 50/50 during the 3-day period. SPOOL tokens will begin at 2.44 DAI.
The middleware protocol enables the creation of customizable, diversified, and risk-managed DeFi portfolios that fit users’ risk appetites. This is an accessible tool for yield optimization that allows you to combine farming with multiple DeFi strategies using a single deposit. These farms also have dynamically balanced funds that can be rebalanced in order to maximize yield and reduce risk. This kind of solution didn’t exist in the Ethereum ecosystem.
Spool DAO was the first to initiate this type of service. This decentralized autonomous group includes over 40 companies, including F2Pool and Genesis Block Ventures. These are the leaders of DeFi.
Genesis Block Ventures’ Leslie Tam commented on the protocol’s potential. “Spool’s middleware solution allows us to create custom strategies that can be integrated in DeFi applications via SDKs. 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.”
Spool has been supported by investors because of its potential to help the whole ecosystem. It can be used as a toolkit for middleware and connect to other DeFi projects that are working to create better products. Spool, as a white-label solution for a variety of DeFi applications and third party user interfaces, can be an integral component of DeFi. It can make easy, diverse yield optimization available to all by leveraging the power of Spool.