StaFi Improvement Proposals
What is SIP
StaFi Improvement Proposals (SIP) describe standards for the core protocol specifications, contract standards and client APIs.They are standardized documents voted upon by StaFi Governance. SIPs can be added, amended, replaced, and removed.
The Core Principles provide important guidelines that SIP authors should follow when writing SIPs. These principles are crucial to ensuring that SIPs are effective and useful.
- Specific: A SIP must define and address a specific behavior or single responsibility. Overburdened SIPs are not allowed.
- Completeness: SIPs must be thorough and cover all relevant details. Specifics should not be left undefined or unreferenced.
- Avoid Overlap: Multiple SIPs should not implement the same behavior independently, as this can lead to confusion and inefficiency. For example, there should not be two separate and interchangeable ways to onboard collaterals.
- Brevity: SIPs should be as concise as possible while still including all essential information. This ensures that SIPs are easy to read and understand, and that they do not contain unnecessary or redundant information.
SIP Lifecycle
The SIP (StaFi Improvement Proposal) lifecycle consists of several phases that ensure community input and consensus before implementation.
- Conception: a SIP Author proposes a new SIP in the StaFi forum under the Proposal category and adds the Discussion Draft tag.
- Request for Comments(RFC): A period of reviewing by the community and attendant redrafting begins. The minimum duration of this period is one week.
- Fulfilled Feedback Period Requirements: After the SIP has fulfilled the RFC phase, it is ready for Formal Submission.
- Formal Submission: Once the SIP has successfully fulfilled the feedback requirements of the RFC phase, it moves on to Formal Submission. The SIP Author submits the proposal in the StaFi forum under the Proposal category and adds the [SIP-x] tag.
- Off-chain Vote: The SIP is published on the OpenSquare for rFIS holders to vote on. The minimum duration of voting is one week.The type of voting is single choice.
-
Accepted/Rejected: The SIP is voted on. If it passes, it is officially accepted and is given the
Acceptedstatus. If not, the SIP is rejected.
sequenceDiagram
Conception->>Request for Comments(RFC):Post a topic in the StaFi forum <br/> under the proposal category <br/> and add the [Discussion Draft] tag
Request for Comments(RFC)->>Fullfilled Feedback Period Requirements: at least <br/> one week
Fullfilled Feedback Period Requirements->>Formal Submission:Submit the proposal in the StaFi forum <br/> under the proposal category <br/> and add the [SIP-x] tag
Formal Submission->>Offchain Vote: Publish on the OpenSquare <br/> for FIS and rFIS holders <br/> to vote on
Offchain Vote->>Accepted/Rejected: at least <br/> one week
Accepted/Rejected->>Accepted/Rejected: Once accepted, upload IPFS
Core Units
Core Units are the fundamental workforce divisions overseen, managed, and prioritized by the StaFi Governance. Each Core Unit is assigned a long-term work area that encompasses a wide range of responsibilities or focus.
Anyone can propose a Core Unit, and its inclusion in the StaFi DAO is subject to a vote by the Governance. This ensures that the community has a say in which Core Units are established, and which areas of focus receive priority.
Core Units are essential to the efficient and effective operation of StaFi, as they provide dedicated teams with specific areas of expertise to tackle complex challenges and drive innovation. By systematically organizing teams and responsibilities, StaFi Governance can ensure that resources are allocated effectively and that progress is constantly being made towards the overall goals of the DAO.
Treasure
- Revenue: StaFi charges a commission ranging from 5% to 10% from different LSD, and an additional redemption fee may apply. These fees will be sent to the treasury pool as protocol revenue.
- Liquidity Incentives: For rTokens to effectively function as liquidity tokens, it is essential that they can be seamlessly swapped within DeFi protocols. Liquidity incentives play a crucial role in motivating users to provide liquidity for rTokens in these protocols.
- Community Incentives: The StaFi DAO has always valued the power of the community, and every month the StaFi treasury allocates a portion of its funds to reward community members for their support.
We will publish detailed monthly financial reports regularly to promote transparency and allow our stakeholders to track our financial performance.
Future Work
On Chain Governance
According to SIP-2, StaFi Chain will be primarily used for governance. StaFi Chain is built on Substrate. We are considering integrating the OpenGov module on StaFi Chain to implement on-chain governance.
Budget flow
flowchart TD
id(DAO Treasure) --Montly Streaming/Manual--> id1([CoreUnit1 Multisign wallet])
id(DAO Treasure) --Montly Streaming/Manual--> id2([CoreUnit 2 Multisign wallet])
id(DAO Treasure) --Montly Streaming/Manual--> id3([CoreUnit 3 Multisign wallet])
The following diagrams illustrate the budget flow for each of the currently ratified Core Units. These diagrams provide an overview of how funds flow from the StaFi Protocol to the various Core Units and their operating wallets.
By examining these diagrams, one can gain a clear visual understanding of how each Core Unit manages the FIS they receive from the StaFi Protocol. This information is critical in ensuring that resources are allocated efficiently and effectively, and that each Core Unit has the necessary funding to carry out its responsibilities.
Overall, these budget flow diagrams play an essential role in the transparent and accountable management of StaFi’s resources. They provide a comprehensive overview of funding distribution, allowing for better decision-making and strategic planning.
When submitting a budget proposal to the StaFi DAO, Core Units should ensure that their proposal includes the following key elements:
- Value: The proposal should clearly articulate how the requested budget will contribute to revenue growth or improve operational efficiency for StaFi. This section should include a detailed analysis of the expected benefits of the proposal, as well as any potential risks or challenges that may arise.
- Roadmap: The proposal should provide a comprehensive timeline for the specific deliverables that the Core Unit plans to achieve during the Budget Term. This timeline should include clear milestones and deadlines, as well as a breakdown of the resources required to achieve each deliverable.
- Budget Implementation: The proposal should define when and how the Core Unit Facilitators will receive the funds that make up their budget. This section should include a detailed breakdown of the budget allocation, as well as information on how the funds will be managed and disbursed throughout the Budget Term.
By including these key elements in their budget proposal, Core Units can demonstrate the value of their proposed budget, the specific goals they aim to achieve, and how they will manage the funds. This information enables the StaFi DAO to make informed decisions about resource allocation, ensuring that resources are allocated efficiently and effectively towards achieving the DAO’s goals.
Copyright
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