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Home All Events - Ape O'Clock Spice Finance Flagship Vault Launch


Apr 20 2023


3:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Apr 20 2023
  • Time: 11:00 am



Spice Finance Flagship Vault Launch

NFT lending aggregator protocol on Ethereum.

  • Mechanics & Features
    • Spice aggregates and runs automated lending strategies across NFT lending marketplaces (e.g. NFTfi, X2Y2, BendDAO, Arcade, ParaSpace, etc.)
    • The Flagship Vault is the first public vault – everyone is eligible to deposit
    • Previously launched Vaults are the the Prologue Vault and the Prologue Leverage Vault, which both requires a Prologue NFT to deposit
    • Users can deposit $WETH or $ETH in the Vault to earn yield, in ETH
    • Spice allocates deposited capital to the NFT lending marketplace and earns yield through underwriting NFT-backed loans and periodically by interest payments
    • Flagship Vault fees are currently set to 20% of interest earned
    • The amount of $WETH that can be withdrawn from any Vault is equal to the Vault’s TVL minus $WETH that the Vault has deployed to P2P loans
    • All withdrawal requests are fulfilled on a FCFS basis when $WETH is available in the reserve to be withdrawn
Links & Resources
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