First-of-its-kind hardware-enabled DAO (Decentralized Autonomous Organization), SpiderDAO, has announced a new nesting program in response to user comments. The nesting program allows users to stake SPDR tokens for up to 12 months in exchange for APY, as well as tangible bonus rewards, including VPN service.
Users of the SpiderDAO platform were concerned by the network’s high compensation to its liquidity miners because the emissions this liquidity program created drove the price of the SPDR token down. After listening to user feedback, the team at SpiderDAO launched Spider Nest, which offers rewards for non-liquidity provider users based on the period of time they decide to stake their funds in the protocol.
“Each Nest consists of a set of requirements and parameters that are compensated accordingly,” explains Nathan Varty, Founder and CEO of Spider DAO, “These compensations range from 36% to 80% APY depending on their lock period, meaning that a 90 day lock-up of over $500 could receive a 60% APY. This means the staker would receive 5% of the locked amount in return after each month.”
SPDR token holders also have the option to participate in the LAU concept (Liquidity as Utility). In addition to benefiting from the APY itself, users are offered free access to Spider VPN services. Sixty percent of the SPDR token supply will be distributed to the community over the next five years.
Founded in 2020, SpiderDAO is the industry’s first hardware-enabled DAO that bundles multi-layered hardware and software tools on top of the Polkadot Network – a blockchain protocol with two goals: providing shared security among all connected parachains and allowing all connected chains to interoperate. SpiderDAO’s vision is to create a provable, open source, decentralized VPN, as well as add a multi-layer privacy solution where users are not only secured through the DAO, but their networks are secured with Spider dVPN and ad blocking. All user data is encrypted through dVPN to ensure that all network traffic is secured when leaving or entering the network. SpiderDAO’s native token SPDR is the first-ever to be listed on the Polkastarter exchange. For more information, visit www.spiderdao.io.
SpiderDAO on Telegram: https://t.me/SpiderDAO
Spider Nests: https://stake.spiderdao.io/#/
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