StaFi DAO June 2024 Report & July 2024 Budget Plan
During June 2024, in conjunction with the progress on the technology front, StaFi DAO has focused on promoting LSaaS adoption, including increased user education and preparation for Web3 conference participation.
StaFi DAO June 2024 Report
DAO Treasury
https://docs.google.com/spreadsheets/d/1ZH9F78INKS06O5h7aRWU-2pF0EKAZvhtHgVJPH3C5ZY/edit?usp=sharing
Protocol 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.
The following table shows the revenue of StaFi Protocol since June 2023 for each month. You can get more detailed data on StaFi’s data analysis page.
| Year/Month | ETH | MATIC | BNB | ATOM | IRIS | HUAHUA | SWTH | FIS | DOT | KSM | rSOL |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023/06 | 2.34 | 271.54 | 0.55 | 56.95 | 12,844.78 | 3,222,714.00 | 15,491.22 | 22,650.01 | 31.68 | 0.35 | 1.04 |
| 2023/07 | 3.29 | 192.34 | 0.02 | 56.95 | 12,887.17 | 2,369,268.00 | 13,260.89 | 22,862.46 | 16.43 | 0.28 | 0.97 |
| 2023/08 | 1.60 | 420.73 | 0.26 | 57.96 | 13,181.47 | 2,309,995.00 | 14,564.12 | 22,792.10 | 27.44 | 0.27 | 1.56 |
| 2023/09 | 1.62 | 285.43 | 0.10 | 88.69 | 12,779.43 | 2,278,530.00 | 13,492.01 | 21,877.37 | 28.27 | 0.29 | 1.54 |
| 2023/10 | 1.45 | 675.73 | 0.13 | 90.10 | 13,489.05 | 2,409,862.00 | 13,404.43 | 23,319.53 | 28.54 | 0.20 | 2.20 |
| 2023/11 | 1.64 | 494.50 | 0.16 | 122.22 | 13,320.90 | 2,021,739.00 | 14,849.73 | 22,760.89 | 28.98 | 0.30 | 1.07 |
| 2023/12 | 3.41 | 173.10 | 0.66 | 77.37 | 10,766.25 | 2,548,152.00 | 30,730.92 | 27,631.30 | 14.66 | 0.30 | 0.71 |
| 2024/01 | 0.78 | 173.73 | 0.43 | 78.42 | 2,938.68 | 2,527,608.00 | 19,349.30 | 27,608.88 | 14.85 | 0.29 | 0.01 |
| 2024/02 | 0.53 | 227.08 | 0.13 | 79.44 | 18,880.44 | 2,394,756.00 | 12,756.58 | 24,740.64 | 30.14 | 0.28 | 0.00 |
| 2024./03 | 0.46 | 232.54 | 0.13 | 80.41 | 13,536.26 | 2,664,144.00 | 16,807.32 | 27,424.57 | 15.24 | 0.22 | 0.51 |
| 2024/04 | 0.40 | 163.95 | 0.05 | 49.03 | 12,414.27 | 2,420,249.00 | 15,420.77 | 24,173.15 | 0.00 | 0.00 | 2.56 |
| 2024/05 | 0.38 | 140.94 | 0.03 | 49.56 | 13,192.82 | 1,496,040.00 | 15,860.30 | 26,152.31 | 0.00 | 0.00 | 0.33 |
| 2024/06 | 0.39 | 1.18 | 0.02 | 50.17 | 13,080.90 | 1,055,507.00 | 25,647.30 | 25,502.78 | - | - | 1.47 |
LSaaS Adoption Expenditure
During June, there was a total of 78,626 FIS spended in liquidity incentives to one trading pair(rMATIC/MATIC) and one token(rETH) on various platforms such as StaFi App and Quickswap. Due to the varying timelines for incentive settings, there are incentives on some platforms that continue across months. For example, the rETH farming on StaFi App will last for two months.
As part of the restructuring of StaFi’s overall plan, StaFi DAO will gradually reduce the incentives on DeFi Liquidity and instead focus more on expanding the awareness and use of LSaaS. As a result, it can be seen that the DeFi Liquidity Incentives have been reduced than before.
| Year/Month | DeFi Protocol/Fee type | Chain | Token/Pairs | Platform type | Spending-FIS |
|---|---|---|---|---|---|
| 2024/06 | rPool-StaFi rETH stake farm | Ethereum | rETH | Yeild | 50,000.00 |
| 2024/06 | Quickswap-Gamma | Polygon | rMATIC/MATIC | DEX | 2,090.00 |
| 2024/06 | Token2049 Event | - | - | Event | 26,536.00 |
Integration services Fee
As we all know that StaFi has integrated Chainlink CCIP and SSV DVT for higher security and decentralization. Beginning in November 2023, some costs are incurred for the use of these two services. As the costs incurred for these services are consumptive and StaFi DAO will replenish them as they become depleted, the costs associated with StaFi DAO’s expenditures are prepaid. For example, the fees for services used in January were a direct deduction of the fees previously remaining in the account.
The actual fees incurred for the use of Chainlink CCIP and SSV DVT in June 2024 will be reported here.
| Year/Month | Protocol | Service | Token | Amount |
|---|---|---|---|---|
| 2024/06 | Chainlink CCIP | CCIP Automation | LINK | 78.63 |
| 2024/06 | Chainlink CCIP | CCIP Sender | LINK | 5.86 |
| 2024/06 | SSV Network | DVT | SSV | 1.69 |
For Real-time consumption
- Chainlink CCIP Automation service:
- Chainlink CCIP Sender service:
- SSV DVT service:
https://etherscan.io/address/0x25e3d9fbe9b4afbf4220ef750b80841089d9f94d#tokentxns
Community Incentives
The community Incentive Expenditures for June were 2,321.13 FIS in total.
We’ve modified the requirements for Warriors and Rangers and the way they contribute to StaFi. This change was explored in some depth in our October 2023 DAO report. Talents are wanted to build StaFi 2.0 together and create a win-win future!
Note: StaFi Warriors is now open for passionate individuals, if you’re good at Community Management, BD Moderation or you’re with skills in drawing or using AIGC to create high-quality images, huge community incentives await you. Contact with us now!
| Year/Month | Category | Member | Reward-FIS |
|---|---|---|---|
| 2024/06 | Moderator | 4 | 2,321.13 |
DAO Treasury FIS Staking
As the DAO Treasury FIS staking proposal got passed by community voting, the FIS in treasury now is staking in phases and will be finalized in the coming weeks, progress can be seen here. This allows the consensus to run more securely, as well as stakeholders and validators to review changes over time, such as rewards, decentralization, etc.
According to the proposal, to enhance the security of DAO treasury assets, multisig wallets are taken into consideration. The whole migration will take about 3 months following these steps.
| Address | FIS Amount | Staked FIS Amount | Available FIS Amount | rFIS Amount | Type |
|---|---|---|---|---|---|
| 36JkR8Gzx2tAUaVzHeRQhbsfL5J14j1hrCrYo1F851FLcM4V | 10.127 | 0 | 10.127 | 3,737,606 | Genesis(StaFi Chain) |
| 31XQjajM9x14JvUoXE6tMqkRzf2NfGxqmk45szTwHsF7vkq7 | 9.912 | 0 | 9.912 | 2,417,823 | Genesis(StaFi Chain) |
| 33UFoCxwXDJwWKKDBx6xp68X7rtBLXun5TvSxtoKmB6KwZnP | 49.981074999999 | 0 | 49.981074999999 | 0 | Genesis(StaFi Chain) |
| 3327TuapxKGaDVaj6rSyywBQWmbZkiCNHRjfs8hCUzK3eeux | 71.871927593809 | 0 | 71.871927593809 | 0 | Genesis(StaFi Chain) |
| 34e1uL9Y8pJnb2F13x1K3ppHJ4UF9txUYbM2CgqcdSewfsa2 | 8.962074999999 | 0 | 8.962074999999 | 0 | Genesis(StaFi Chain) |
| 31ocHCL7Dw8YJC9zeHT7UXiA4ZgjDwzWQgphRKGbSX41fcCg | 2.586336999999 | 0 | 2.592526999999 | 0 | Genesis(StaFi Chain) |
| 33DgUpArHKJgYMepNaqkXFEzYipuD8UYfZsXDmG8ZbHStWAw | 17,730,027.886036097464 | 0 | 17,730,027.886036097464 | 0 | Inflated reward(StaFi Chain) |
| stafi1gy5jtfmxw9nyr0p4mkfh9lakegm3jxn3sjdvea | 5,204,482.706285 | 2,699,900.004198 | 52,567.999891 | 0 | StaFiHub |
- Latest Updates
As of now, All the Treasury FIS, which is 18.74M FIS in total, has been transferred to multisig addresses & staked on the StaFi network. The migration of rFIS will be taken in the coming months.
Txhash:
- https://stafi.subscan.io/account/32khQjt9vK6HBcUGgVJsxQXwRXPz5E9E83WKuvfMoK5CnPw9?tab=transfer
- https://stafi.subscan.io/account/33aRRH6B8YyUBBhR2Cppj6s7S8dJfsmMpievnLiMY4JRUsmD?tab=transfer
- https://stafi.subscan.io/account/34wBXY2fzPnfikEXpGbUzqWV3r2B44iJgV5wPaB5YNrxpj3Z?tab=transfer
- https://stafi.subscan.io/account/31FTe87cgmBdp4DueiCrEqVNoc4mpmwERQ2nGPyHduASuAEa?tab=transfer
- https://stafi.subscan.io/account/335ye5dGBCM74P1m6gfNytbUfk5cHVXnqBDvUakqvGANDp1Q?tab=transfer
- https://stafi.subscan.io/account/31VApuoJa5raPEzjQNKRjyrwuRsbN7YjHzrypxnPCwXLUAfo?tab=transfer
The DAO Treasury FIS multisig wallets (will also be found at https://docs.stafi.io/treasury/):
DAO Progress
There’s no much progress on DAO framework construction recently, as the key target of StaFi during these months is to build up a widerly known brand “StaFi 2.0 — LSaaS“.
Get more details of what StaFi DAO has done in June at https://stafi-protocol.medium.com/stafi-protocol-monthly-june-community-update-a8acad165069
July 2024 Budget Plan
Recognized as the cornerstone of StaFi’s narrative, LSaaS holds paramount importance. To bolster its adoption, we are gradually reallocating resources towards LSaaS. The incentives previously allocated to LP liquidity will now be directed towards LSaaS. Our overarching objective is to achieve a monthly target of $100,000. This strategic shift has already been set in motion. We have initiated collaborations with leading marketing agencies to amplify our presence on prominent crypto news platforms. Additionally, a portion of our budget will be dedicated to this initiative. Moreover, we are actively exploring a partnership with ETH Global to encourage wider adoption of the LSaaS stack among developers. This endeavor is still in its exploratory phase, and further details will be provided in forthcoming reports.
Integration services Fee
Overview
With the smooth integration with CCIP and SSV DVT, StaFi’s security and decentralization have been enhanced. The integration of CCIP enables secure cross-chain transmission of rToken exchange rates, while SSV DVT enhances the security and decentralization of ETH staking.
In the meantime, there are some costs associated with using these services, which will be covered by StaFi DAO treasury.
Budget Plan
| Year/Month | Protocol | Token | Amount |
|---|---|---|---|
| 2024/07 | Chainlink CCIP | LINK | 80 |
| 2022/07 | SSV Network | SSV | 10 |
This is an estimated value and the actual value may slightly vary depending on market fluctuations.
LSaaS Adoption Budget
Overview
The second half of 2024 is important for the development of StaFi LSaaS. the StaFi DAO would like to provide as much support as possible at this time to accelerate mass adoption of LSaaS.
Including incentive spend, marketing spend, event spend, etc., StaFi DAO proposes to offer a budget of $100,000 per month as support. More adoption programs are being developed in order to reach the target budget. The following are among the more certain budget plans. DeFi liquidity incentive is an important part of this, but will not be listed separately thereafter, instead it will be part of the LSaaS adoption marketing spend.
Budget Plan
| Year/Month | Fee type | DeFi Protocol | Chain | Token/Pairs | Platform type | Spending-FIS |
|---|---|---|---|---|---|---|
| 2024/07 | DeFi Incentive | rPool | Ethereum | rETH | Yeild | 25,000.00 |
| 2024/07 | DeFi Incentive | Quickswap | Polygon | rMATIC/MATIC | DEX | 15,000.00 |
| 2024/07 | Hackthon Participation | (unconfirmed) | (unconfirmed) | (unconfirmed) | (unconfirmed) | (unconfirmed) |
| 2024/07 | Offline Web3 Event Participation | - | - | - | Offline | (unconfirmed) |
This is an estimated value and the actual value may slightly vary depending on market fluctuations.
How to Get Involved
Mint rToken
rToken App
Guide
Add liquidity
Pools portal at StaFi: https://app.stafi.io/pool/all/