Protocol name: Spiral DAO
Bug Bounty: Bug bounties - Spiral DAO
Treasury Reports: Spiral DAO
Discord: Spiral DAO
Medium: Spiral DAO - Medium
Allow Spiral DAO SDT Liquid Locker to lock $SDT as veSDT.
Address to whitelist: 0x4a6854B88Bfc87369cb9CA1A488e1A2Cf76748A1
Spiral Locker presents the first liquid locker solution for SDT token holders. By offering a transferable and tradable wrapped version of SDT — sprSDT, users will be able to maintain liquid while benefiting from the many SDT benefits. The platform enables sprSDT staking for boosting power and additional incentives, delegation to various addresses, or participating as liquidity providers in the sprSDT/SDT pool on Curve for CRV emissions.
Spiral Lockers are designed to retain the core features a real liquid locker should have:
- Deep liquidity allows holders to remain truly liquid
- Keeping holders in touch with the power they possess
The sprSDT holders in staking can manage their boosting power themselves by delegating boosts to their own address, or they can delegate their boosts to any other address. Additionally, sprSDT holders can delegate their boosts to Concentrator to receive Concentrator rewards in SPR every two weeks. Later on, once Paladin launches its new product, Paladin’s SDT boost market will be integrated into the Spiral website, enabling sprSDT holders to participate in Paladin boost marketplace and lend their SDT boosts to renters on Paladin, earning native rewards.
Minting fee: 0%.
Staking fee: for the first few months, Spiral DAO won’t take any fees. Later on, the fee will increase to 10%.
Currently, the Spiral Treasury holds 400k locked SDT and 300k SDT in Treasury. The first preminted sprSDT to kick-start liquidity and incentivize initial lockers will be backed by Treasury assets.
- Human Resources: Minimal developer time needed.
- Treasury Resources: No treasury resources needed.
Technical Implementation: Update the SDT smart wallet whitelist.
Admin: veSDT holders
Community feedback: 2 days minimum
Voting Duration: 3 days