Vault Architecture

The Vault architecture system on Spice consists of two different types of vaults (of which, the former is nested within the latter):
  1. 1.
    Base Vaults
    • Wraps P2P NFT Lending marketplaces
    • Deploys one P2P loan strategy per vault
  2. 2.
    Aggregator Vaults
    • Wraps Base Vaults and P2Pool NFT Lending marketplaces
Users are only able to deposit into Aggregator Vaults. To access the strategy of a single Base Vault, users can choose to route capital from a custom-built Aggregator Vault to solely that Base Vault.
Fig. 1: Visualization of Spice’s Vault architecture.

Base Vaults

Each Base Vault integrates one or more P2P NFT lending marketplaces and runs its own loan strategy in accordance with predetermined lending parameters.
Base Vaults effectively act as “pools” within which funds from Aggregator Vaults can be deposited to access P2P NFT loans.
By the Gated Launch, there will be one Base Vault on Spice that runs a community-chosen strategy across NFTfi, Arcade and X2Y2.
In the future, Spice will give Spice Merchants the ability to spin up custom Base Vaults. Spice’s protocol will be simultaneously hosting multiple user-specific Base Vaults, each running a unique P2P NFT loan strategy, across all P2P NFT lending marketplaces.

Aggregator Vaults

The Aggregator Vaults sit above Base Vaults. Aggregator Vaults integrate Base Vaults and P2Pool NFT Lending marketplaces, giving users exposure to many P2P strategies and diversified yields.
By the Gated Launch, Spice governance will release one Aggregator Vault: the Prologue Vault. The Prologue Vault integrates:
  1. 1.
    The NFTfi+Arcade+X2Y2 Base Vault
  2. 2.
    BendDAO
  3. 3.
    DropsDAO
Spice gives anyone the ability to spin up custom Aggregator Vaults. Spice’s protocol will host a variety of Aggregator Vaults that tailor to users’ desired risk + yield tradeoffs and NFT lending marketplace exposure as custom Aggregator Vaults get proposed and spun up.