Thread by @0xShinChannn

1/ #CurveWars intensify.

@Spiral_DAO sets itself apart from the likes of @ConvexFinance and @redactedcartel.

Harnessing a dual token model & liquidity blackhole mechanism, it's poised to disrupt the $CRV, $BAL & $FXS blue chip battlegrounds.

Unraveling Spiral DAO and its ITO🧵

2/ Why is @Spiral_DAO born?

To create a capital-efficient DAO that redefines yield farming.

By amassing stakes in $CRV, $BAL, $FXS & other #DeFi blue chips, Spiral DAO seeks to eradicate cannibalistic selling and curb inflationary pressure.

3/ Spiral DAO has crafted an innovative staking model to bolster its standing within the CRV, BAL & FXS ecosystems.

Employing a bonding-esque approach, this model dispenses the native protocol tokens (COIL) in return for other tokens at a preferential rate.

4/ Amplifying incentives with Spiral DAO

By dishing out a greater USD value in COIL tokens than the rewards attainable via existing protocols, Spiral DAO incentivize sengagement.

5/ Yield farmers in Spiral DAO can consider this extra yield as a "discount" for procuring native COIL tokens, potentially making it more alluring than conventional yield farming approaches.

6/ Tokenomics

@Spiral_DAO implements a dual-token strategy

$SPR token
🔹 Staked counterpart of COIL
🔹 Shields from COIL's inflation
🔹 Represents an increasing quantity of COIL
🔹 Eligible for future profit-sharing
🔹 Grants governance authority over treasury assets

7/ $COIL token
🔹 Primary reward token in Spiral DAO
🔹 Issued for staking in Convex/Balancer/Frax liquidity pools
🔹 Highly inflationary, yet high APR
🔹 Emissions adapt to price fluctuations
🔹 POL's primary target

8/ Post-launch $COIL community allocation

With no cap on total supply for COIL and SPR, a significant portion of COIL is earmarked for staking. The remaining new issuance stems from Yield Bonding.

9/ Upon emitting 100 COIL tokens via Yield Bonding, the protocol simultaneously mints 50 additional tokens, distributed as follows:

10/

(i) Treasury acquires 15 tokens for DAO necessities (Partnerships/DEV) without diluting the Treasury

(ii) 15 tokens are allocated for maintaining POL, again without diluting Treasury

(iii) The team obtains 20 tokens with a 6-month lock-up period

11/ What sets @Spiral_DAO apart?

Treasury rebalancing mastery

Spiral DAO capitalizes on bribe markets to maintain a balanced Treasury exposure through astute arbitrage.

Let's dive into the process.

12/ To increase the BAL proportion in the Treasury while decreasing CRV:

(i) DAO sells CRV votes on the bribe market for stables💱
(ii) DAO buys votes on the Aura/BAL bribe market with stablecoins
(iii) Allocates votes to the POL gauge

13/ Consequently, additional BAL/AURA emissions increase the Treasury's relative BAL-AURA tokens portion while decreasing CRV's share.

14/ Spiral DAO's innovative DeFi governance leverages treasury assets to offer liquidity providers higher APRs by strategically selling votes for bribes and repurchasing desired assets like CRV or COIL.

15/ Spiral DAO isn't bound to one bribe market, balancing liquidity across several markets.

By compounding underlying assets into strategies, the DAO's treasury value grows with superior APR, outpacing inflation while still offering LP incentives.

16/ The flywheel effect is crucial for Spiral DAO, as demand for escrow tokens through strategic vote selling fuels a self-reinforcing growth cycle:

User growth ➡️ treasury bootstrapping ➡️ increased returns ➡️ treasury value growth

17/ Ecosystem benefits with @Spiral_DAO

👉🏻 Compounds yields within its Treasury, retaining liquidity in the ecosystem
👉🏻 Offers farmers enhanced risk-adjusted yields via yield bonding
👉🏻 Streamlines bribe market, amplifying bribe yields & overall liquidity depth

18/ @Spiral_DAO's token sale is upcoming with its aim to acquire 7M worth of tokens.

Launching on April 3rd at 4pm GMT and running for 48 hours, ending on April 5th at 4pm GMT on @ethereum.

https://twitter.com/Spiral_DAO/status/1640731146463084546

19/ To participate in Spiral DAO's ITO, users can contribute with USDC, CRV, BAL, FXS, or SDT.

The overflow model allows flexible contributions, with final allocations based on total funds raised at the sale's conclusion.

20/ Quick tip for potential participants

Since 75% of $COIL tokens are allocated for the token sale, keep an eye on the presence of whales committing large amounts of supported assets. This could lead to potential token manipulation upon TGE.

21/ Tagging my CT frens who are absolute geniuses when it comes to DeFi and all things crypto!

@arndxt_xo
@Slappjakke
@rektdiomedes
@DegenCamp
@DeFiMinty
@CryptoShiro_
@schizoxbt
@DAdvisoor
@Louround_
@FungiAlpha
@monosarin
@0xTindorr
@schizoxbt
@thelearningpill
@DegenCamp

22/
@My_SexyLife
@OvrCldJonny
@Defi_mochi
@0x_pudding
@0xsurferboy
@OvrCldJonny
@My_SexyLife
@eli5_defi
@0xJamesXXX
@PANewsCN
@rektfencer
@CJCJCJCJ_
@TheDeFISaint
@LouisCooper
@francescoglt
@defi_mochi
@2lambro
@SoNews_EN