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NFT Collection Selection

Whitelisted Collections

SPICE vaults allocate capital to the following NFT collections:
  1. 1.
    Bored Ape Yacht Club
  2. 2.
    Mutant Ape Yacht Club
  3. 3.
    Crypto Punks
  4. 4.
    CloneX (CURRENTLY OFFLINE)
  5. 5.
    Azuki
  6. 6.
    DeGods
  7. 7.
    Bored Ape Kennel Club
  8. 8.
    Otherdeed
  9. 9.
    Meebits
  10. 10.
    Doodles
  11. 11.
    Potatoz
  12. 12.
    Squiggles
  13. 13.
    Sandbox Land
  14. 14.
    Pudgy Penguins
  15. 15.
    Cool Cats
  16. 16.
    BEANZ
  17. 17.
    World Of Women
  18. 18.
    rektguy
  19. 19.
    Renga
  20. 20.
    VeeFriends
  21. 21.
    Valhalla
  22. 22.
    DigiDaigaku
  23. 23.
    FLUF
  24. 24.
    Milady
  25. 25.
    Remilio
  26. 26.
    KILLABEARS
  27. 27.
    Moonbirds (CURRENTLY OFFLINE)
  28. 28.
    Creepz
  29. 29.
    Kanpai Pandas
​

Collection Whitelisting Process

SPICE derives our selection from both quantitative (80%) and qualitative (20%) data points which produce a weighted score. A score closer to 100 shows a collection more likely to hold value and show lower risk to lenders and the protocol.

Quantitative Analysis

SPICE's ultimate goal is to limit the SPICE to the top collections which represent the most value to end users and limit risks to the Protocol. To focus exactly on value, SpiceDAO start with those NFT collections in the top 100 of USD transaction volume all-time. To control for more recent market conditions SpiceDAO likewise checks those against the top 100 of the past 30 days. We collected on-chain transaction data via Cryptoslam.io as of June 15, 2023. And we evaluated each of these collections across the following criteria:
  1. 1.
    Liquidity Risk (25%):
    • USD Sales Volume - All time; weight = 15%
    • USD Sales Volume - 30 days; weight = 10%
  2. 2.
    Market Capitalization (25%):
    • Market Capitalization of Collection; weight = 20%
    • Number of Token Holders; weight = 5%
  3. 3.
    Volatility Risk (20%):
    • Volatility in the Floor Price of the collection given the metrics below; weight = 20%
      • Daily Value at Risk (
        VaRVaR
        )
      • Daily
        Expected Shortfall Expected \ Shortfall
        ​ or Conditional Value at Risk (
        cVaRcVaR
        )

Qualitative Analysis

SPICE also investigates project details that give insight into the quality of the collection. The framework is provided below:
Note: Though nominally a minority share of a collection's score, any material deficiencies can disqualify a collection from being lent against by the SPICE protocol.
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Last modified 3mo ago