How to Stake your SPOOL Tokens

This quick guide will help you staking your SPOOL tokens

Step 1: You must first acquire the SPOOL token. You can get $SPOOL by purchasing on secondary markets such as Uniswap.

Step 2: Once you have the SPOOL tokens in your wallet, go to spool.fi and launch the Spool App on your browser

Step 3: Connect your web3 wallet

Step 4: Within the app, click on the “Spool Staking” button

Step 5: In the SPOOL Staking section, you can Stake or Unstake your SPOOL tokens, claim your staking rewards, claim and stake your voSPOOL emissions rewards from staking SPOOL tokens, and vote using your voSPOOL tokens.

Step 6: To stake the SPOOL tokens in your wallet, click the “Stake” button to bring up the staking window.

Step 7: Manually input the amount of SPOOL tokens you would like to stake, or simply click “MAX” to stake the full balance of $SPOOL in your wallet.

Step 8: Click “Approve” to allow the contract to interact and manage your SPOOL tokens. You will need to “Approve” on your web3 wallet too.

Step 9: Click “Stake” to stake your SPOOL tokens and wait for the transaction to complete. (This will cost gas)
Once your SPOOL tokens have been staked you can unstake them at any time.

Step 10: When your transaction completes, your $SPOOL will be staked. You may have to refresh the page to see the updated values.

SPOOL token staking is your gateway to acquire the non transferable voSPOOL governance token. voSPOOL is distributed to stakers based on time continuously staked up to a maximum number of their total SPOOL tokens staked. This calculation is based on a weekly epoch, up to a maximum of 156 weeks.
If a staker unstakes at any time, their time spent continuously staking resets, thereby restarting their voSPOOL distribution from 0.
This mechanism ensures that Spool is governed by a DAO that is aligned with the long term vision of the Spool protocol.

Step 11: You can see the amount of $SPOOL staked, the amount of voSPOOL you have accumulated, and the claimable staking emmissions in the “Platform Summary” tab.

Step 12: The “SPOOL Staking” section shows the updated emissions rewards.

Step 13: By clicking on “Claim All Rewards” a pop-up shows all the rewards being claimed, for both SPOOL emissions and voSPOOL emissions. Claiming these rewards moves them directy to your wallet.

Step 14: You will have to wait for the transaction to confirm before changes take place. Once your transaction is mined, the SPOOL tokens will be claimed into your wallet (this will cost gas).

Step 15: By clicking on “Stake Emissions Rewards” a pop-up shows all the rewards that can be claimed and staked, for both SPOOL emissions and voSPOOL emissions. Claiming and staking these rewards in one transaction moves them directly to staking and your new staking balance will be updated.

Step 16: You will have to wait for the transaction to confirm before changes take place. Once your transaction is mined, then the SPOOL tokens will go directly to staking and your new staking balance will be updated (this will cost more gas than simply claiming the rewards).

Step 17: Once your transaction is confirmed, you may have to refresh the page to see the updated numbers for your staked or claimed SPOOL tokens.

Step 18: Enjoy the revenue generated through the Spool protocol.

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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.

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