November 2023 Budget Plan

Finance
1

November 2023 Budget Plan

Integration Fee

In October, StaFi successfully integrated Chainlink CCIP on the mainnet and SSV DVT on the testnet. The integration of CCIP enables secure cross-chain transmission of rToken exchange rates, while SSV DVT enhances the security and decentralization of ETH staking. For more detailed information on these integrations, refer to the following links:

Please note that as these integrations involve external services, there are associated costs that need to be paid.

Year/Month Protocol Token Amount
2023/11 Chainlink CCIP LINK 76
2023/11 SSV Network SSV 50

This is an estimated value and the actual value may slightly vary depending on market fluctuations.

Regarding SSV, we are expecting to receive the first milestone payment of grants in November, which amounts to approximately $10,000 worth of SSV tokens. These tokens will be allocated to the DAO and used to cover future SSV maintenance costs. We have already applied for the SSV whitelist for the mainnet, and we anticipate the launch on the mainnet to take place this month.

LP Incentive Fee

Overview

StaFi LSD offers trading liquidity for rTokens on DEXes, allowing users to easily swap between liquid staked tokens and unstaked tokens.

To further encourage liquidity provision, we propose allocating FIS tokens to liquidity pools. These incentives aim to attract more participants and enhance liquidity on DEXes. Improved liquidity will reduce slippage and enable seamless transactions, ultimately attracting more users to the protocol.

Budget Plan

Year/Month DeFi Protocol Network Token/Pairs Reward-FIS
2023/11 Wombat BSC rBNB/BNB 4,000.00
2023/11 Thena BSC rBNB/BNB 5,600.00
2023/11 Velodrome Optimism rETH/ETH 2,000.00
2023/11 Curve Ethereum rETH/ETH 36,523.00
2023/11 Aura Ethereum rETH/ETH 60,000.00
2023/11 Kyber Polygon rMATIC/MATIC 40,982.00
2023/11 Osmosis Cosmos rATOM/ATOM 4,000.00

This is an estimated value and the actual value may slightly vary depending on market fluctuations.

The liquidity of rATOM/ATOM has been successfully migrated from rDEX to Osmosis, aiming to simplify the overall architecture and enhance security. Initially, LP incentives were planned to be provided in October. However, due to the configuration and testing of IBC, this timeline has been delayed to November. As a result, starting from the following months, we will allocate a portion of the budget to provide LP incentives for Osmosis rATOM/ATOM.

How to Get Involved

Mint rToken

rToken App

Guide

Add liquidity