Why Is Everyone Talking About Spice Finance's High-Yield $WETH Vault?
@spice_finance is just one of the many projects being discussed on our discord, are you missing out ANON?
π𧡠(1/8)
@spice_finance is just one of the many projects being discussed on our discord, are you missing out ANON?
π𧡠(1/8)
2) This vault is only accessible to holders of 555 of spiceβs own NFT collection.
The NFT collection allows access to this prologue vault, which currently sits at roughly 15% APR. Users who own one of these NFTs can deposit $WETH into the prologue vaults.
The NFT collection allows access to this prologue vault, which currently sits at roughly 15% APR. Users who own one of these NFTs can deposit $WETH into the prologue vaults.
4) The best part however about owning one of these 555 NFTs is that you donβt only gain access to the prologue vault, but you will also be able to loop the NFT position.
5) Prologue holders will be able to take loans against the βfloor price i.e deposited $WETHβ of the NFT. (Deposit 10 $WETH then get $6 $WETH from the loan)
6) Users will be able to take out loans @ roughly 60% LTV against their NFT position. Once you take that loan, the $WETH will automatically be looped right back into the position. Users will be able to loop again & again while maintaining a 60% LTV.
7) It should also be noted that Spice Finance has been listed as one of the @0xhoneyjar partners & according to documentation, there will be a way for users to get even more yield on their $WETH.
So can @spice_finance will be building on @berachain.π»
So can @spice_finance will be building on @berachain.π»
8) Looping is currently TBA, but you have already caught on to the yield you can get for your $WETH.
Currently, the floor price of the fNFTs is 0.33 $ETH, with a decent distribution of 388 unique owners.
opensea.io
Currently, the floor price of the fNFTs is 0.33 $ETH, with a decent distribution of 388 unique owners.
opensea.io
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