How to Deposit into Spool
This quick guide will help you with your first deposit into Spool.
Step 1: Go to spool.fi and launch the Spool App on your browser.
Step 2: Connect the web3 wallet of your choice.
Step 3: When you open the Spool App section, you will be able to see a list of available Spools for you to select from.
These Spools will initially be sorted in order of highest to lowest TVR (Total Value Routed) but can be sorted also by APY, Risk Model, Asset Type, or Risk Tolerance by using the filters and sorting mechanisms found on the top bar.
If you are looking for a specific Spool, you can search for it by entering the Spool’s name in the ‘Name’ field, which will return your queried results. Keep in mind that Spools with a Blue Arrow next to the APY have Incentivised Rewards that give that Spool bonus APY in the form of reward tokens provided by the Spool’s Creator.*
*incentivised Spools will be activated at a later date.
Step 4: Select a Spool you would like to join from the list of available Spools.* *At launch, the only Spools accessible will be the Genesis Spools created by the Spool DAO. You will be able to create your own Spools when this feature is unlocked at a later date.
Step 5: To view the Spool’s details, simply click on the white triangle in the blue box to the left of the Spool’s name. This will reveal the information you need to understand if this is the Spool for you.
Step 6: Once you have found a Spool you would like to join, make sure that your wallet has the necessary funds to deposit into the Spool and click “Deposit Now”.
Step 7: Enter the amount you would like to deposit into the Spool manually or simply click “MAX” to deposit the full balance of the asset in your wallet.
Step 8: Approve your Asset to be managed by the Spool smart contract and wait for the transaction to be confirmed on the blockchain. (This will cost gas)
Step 9: Once the Asset is approved, deposit the asset with another transaction. (This will also cost gas)
Step 10: Once the transaction is confirmed on the blockchain, your Deposit will be marked as “Pending” until the next Spool Rebalance, generally within 24 hours.
Step 11: Once the next rebalance occurs, your funds will have entered the Master Spool Smart Contract and will be automatically rebalanced according to regularly updating risk and reward data.
Final amounts may differ due to small variations in slippage.
If your Pending balance has not been updated, refresh the page manually.
Please note that there is a 48 hour deposit window to allow everyone to stake their stablecoins and Spool Tokens.
Step 12: Enjoy the best risk-adjusted Stablecoin yield on Ethereum.
Spool is composable and permissionless DeFi middleware that connects Capital Aggregators with DeFi Yield Generators to dynamically, automatically, and efficiently allocate funds and ensure optimized yields, for custom strategies, managed by DAO-curated Risk Models.