StaFi DAO March 2024 Report & April 2024 Budget Plan

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StaFi DAO March 2024 Report & April 2024 Budget Plan

March is the last month of the quarter and the period when StaFi 2.0 milestone results are presented. Join us for a look at the results of the StaFi DAO’s work this month, as well as the budget plan for April.

StaFi DAO March 2024 Report

DAO Treasury

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.

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

DeFi Liquidity Incentives

During March, there was a total of 92,524 FIS spended in liquidity incentives to four trading pairs(rETH/ETH, rBNB/BNB, rATOM/ATOM and rMATIC/MATIC) and one token(FIS) on various platforms such as Osmosis, Cakepie, Curve and Quickswap. Due to the varying timelines for incentive settings, there are incentives on some platforms that continue across months.

This month there was expenditure of 6,612 FIS for Chainlink CCIP service fees and expenditure of 17,222 FIS for StaFi rMATIC relay fee, which are also categorized here.

DeFi Protocol/Fee Type Chain Token/Pairs Platform Type Reward/Spending-FIS
2024/03 Binance Trading Competition Binance FIS/USDT CEX 21,260.00
2024/03 Osmosis Cosmos rATOM/ATOM DEX 20,000.00
2024/03 Cakepie BSC rBNB/BNB DEX 2,000.00
2024/03 Chainlink CCIP Ethereum rETH Oracle 6,612.00
2024/03 StaFi rMATIC Relay Fee Polygon rMATIC Relay 17,222.00
2024/03 Curve Ethereum rETH/ETH DEX 15,430.00
2024/03 Quickswap Polygon rMATIC/MATIC DEX 10,000.00

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 March 2024 will be reported here.

Year/Month Protocol Service Token Amount
2024/03 Chainlink CCIP CCIP Automation LINK 15.77
2024/03 Chainlink CCIP CCIP Sender LINK 11.23
2024/03 SSV Network DVT SSV 7.57

For Real-time consumption

  • Chainlink CCIP Automation service:
  • Chainlink CCIP Sender service:

https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc9e03910dddf689d3e309b42dbf4c581ed1e795d

  • SSV DVT service:

https://etherscan.io/address/0x25e3d9fbe9b4afbf4220ef750b80841089d9f94d#tokentxns

Community Incentives

The community Incentive Expenditures for March were 1,772.27 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!

In March, StaFi also started the recruitment of info-tracking modetator. Apply for it: StaFi Info-tracking Moderator Application

Category Member Reward-FIS
2024.03 Moderator 4 1,674.79
2024.03 Bot Service - 97.48

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 DAO treasury FIS migration plan is going to meet the community soon. Before the migration, some testing will be implemented to verify the security and functionality of the to-be-used multisig wallets. 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 3,000,019.99 unbonding 3,000,017.992 1.997 0 Genesis(StaFi Chain)
3327TuapxKGaDVaj6rSyywBQWmbZkiCNHRjfs8hCUzK3eeux 3,228,108.304 3,000,000 228,108.304224291095 0 Genesis(StaFi Chain)
34e1uL9Y8pJnb2F13x1K3ppHJ4UF9txUYbM2CgqcdSewfsa2 4,299,999.974394999999 3,800,000 499,999.974394999999 0 Genesis(StaFi Chain)
31ocHCL7Dw8YJC9zeHT7UXiA4ZgjDwzWQgphRKGbSX41fcCg 4,797,202.592526999999 4,797,200 2.592526999999 0 Genesis(StaFi Chain)
33DgUpArHKJgYMepNaqkXFEzYipuD8UYfZsXDmG8ZbHStWAw 16,237,026.583635747998 0 16,237,026.583635747998 0 Inflated reward(StaFi Chain)
stafi1gy5jtfmxw9nyr0p4mkfh9lakegm3jxn3sjdvea 4,843,413.648498 2,699,900.004198 52,568.007391 0 StaFiHub
  • Latest Updates

As of now, 1.6M FIS has been transferred to a multisig address & staked on the StaFi network. The remaining will be transferred & staked in months. Txhash: https://stafi.subscan.io/account/32khQjt9vK6HBcUGgVJsxQXwRXPz5E9E83WKuvfMoK5CnPw9?tab=transfer…

The DAO Treasury FIS multisig wallets are as following:

32khQjt9vK6HBcUGgVJsxQXwRXPz5E9E83WKuvfMoK5CnPw9

34wBXY2fzPnfikEXpGbUzqWV3r2B44iJgV5wPaB5YNrxpj3Z

33aRRH6B8YyUBBhR2Cppj6s7S8dJfsmMpievnLiMY4JRUsmD

31FTe87cgmBdp4DueiCrEqVNoc4mpmwERQ2nGPyHduASuAEa

335ye5dGBCM74P1m6gfNytbUfk5cHVXnqBDvUakqvGANDp1Q

31VApuoJa5raPEzjQNKRjyrwuRsbN7YjHzrypxnPCwXLUAfo

DAO Progress

In terms of goals and results, it’s clear that our focus throughout the first quarter has been on StaFi 2.0:

April 2024 Budget Plan

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
2024/04 Chainlink CCIP LINK 80
2022/04 SSV Network SSV 50

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

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

DeFi Protocol/Fee Type Chain Token/Pairs Platform Type Reward/Spending-FIS
2024/04 Osmosis Cosmos rATOM/ATOM DEX 20,000.00
2024/04 Cakepie BSC rBNB/BNB DEX 5,000.00
2024/04 Curve Ethereum rETH/ETH DEX 20,000.00
2024/04 Quickswap Polygon rMATIC/MATIC DEX 15,000.00

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/

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