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A novel DAO model bringing innovation into yield farming, bribe markets, and VeTokenomics.
Spiral DAO is a Decentralized Autonomous Organization (DAO) dedicated to acquiring the most relevant and important DeFi governance tokens within a single community-controlled DAO Treasury. Similarly to yield aggregators (such as Yearn, Beefy, and Harvest), Spiral DAO aggregates liquidity, but instead of continuously selling reward tokens from third-party protocols, Spiral DAO redirects and secures them within the DAO, thus reducing the selling pressure and circulating supply of tokens of the protocols it supports. Spiral DAO distributes native SPR reward tokens to its users, providing an additional yield boost and incentive for Liquidity Providers (LPs) to pool their liquidity and contribute their yield within the Spiral DAO treasury. This process is known as 'Yield Bonding.'
At the heart of Spiral DAO's efficiency is its unique Treasury Management. Spiral DAO Treasury doesn't just aggregate tokens but also utilizes them to provide additional backing for SPR and generate additional value for its holders. The strategies of utilizing liquidity are carefully chosen and backed by years of experience in DeFi and specifically yield farming of Spiral contributors.
Spiral DAO is built to be the most capital-efficient DAO to exist within the veTokenomics and yield farming ecosystem. One of our core goals is to reinvigorate and optimize the Curve/Balancer/Frax ecosystems by becoming the leading buyer and seller of vote incentives, making the entire veTokenomics incentives market rational and efficient.
Spiral DAO has built what we believe is the most well-thought architecture for liquid lockers — a mechanism to retain voting power and other benefits of holding a locked veToken while remaining liquid. Currently, Spiral Lockers offer MAV and SDT Lockers.
Spiral DAO conducts periodical overflow auctions to accumulate new funds into the treasury and onboard new users.
Spiral DAO's main features
Spiral DAO allows everyone to participate in the governance of numerous protocols by holding only one token — SPR. The power Spiral DAO gets is the power the user gets. Spiral DAO amplifies its user's liquidity voting power and capabilities.
As of today, existing DAO infrastructure faces several major problems:
- 1.Poor treasury management - current implementations result in risky allocations and poor yields that can't keep up with token dilution and sustain the relative protocol ownership;
- 2.Difficult governance - being difficult to use and understand results in poor user onboarding which is why protocols end up being controlled entirely by a small group of people;
- 3.Discouraging contributions - a lack of incentives for the community to contribute and build on top of the protocol limits the complexity and possibilities of the entire DeFi ecosystem.
Existing protocols are suboptimal, dilute users, and do not keep up with CRV inflation. Possible yield — if voters could receive all additional emissions from their votes.
By building on top of existing protocols, Spiral DAO creates value for the entire DeFi ecosystem. In contrast to opportunistic protocols that extract value by selling and dumping reward tokens and draining liquidity from protocols, Spiral DAO preserves and utilizes protocol yields, decreasing sell pressure, building liquidity depth within DeFi, and broadening the possibilities and potential for the entire ecosystem. Thus, Spiral DAO is complementary to all the protocols whose tokens Spiral DAO aggregates and collects!
With a strong focus on simplifying and building more intuitive DeFi products and services, the intention behind Spiral DAO is to open up the entire DeFi ecosystem to a plethora of new users.