StaFi DAO Monthly Report - December 2023

StaFi DAO Monthly Report - December 2023

It is great that we have completed the last month of 2024 together. We have done a lot of work during this month as a way to summarize the phases of the year and to start a new phase of tasks.

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.

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

DeFi Liquidity Incentives

During the last month of 2023, we provided a total of 287,911.56 FIS in liquidity incentives to four trading pairs(rETH/ETH, rBNB/BNB, rATOM/ATOM and rMATIC/MATIC) and one token(rETH) on various platforms such as Osmosis, Aura, Beefy, Wombat, Thena, Curve, Quickswap and StaFi rToken App.

In December, StaFi DAO increased spending on Liquidity incentive to accommodate StaFi Protocol’s current state of development as well as market demand. Of particular note, a total of 108,000 FIS were added to the incentive pool to encourage community users to participate in rETH farming in the rToken App; the rMATIC/MATIC incentive pool in Quickswap was also increased to 10,000 FIS.

In addition, there was an expenditure on SSV integration fees this month of 13,055.56 FIS. Please note that this expense is not a fixed monthly expense. As this type of integration expense is consumable, we will replenish it when it is depleted.

DeFi Protocol Chain Token/Pairs Platform type Reward-FIS
2023/12 Thena BSC rBNB/BNB DEX 7,500.00
2023/12 Wombat BSC rBNB/BNB DEX 6,300.00
2023/12 Curve Ethereum rETH/ETH DEX 57,956.00
2023/12 StaFi Ethereum rETH Yeild 108,000.00
2023/12 Osmosis Cosmos rATOM/ATOM DEX 30,000.00
2023/12 Aura Ethereum rETH/ETH DEX 30,000.00
2023/12 Quickswap Polygon rMATIC/MATIC DEX 10,000.00
2023/12 Beefy BSC rBNB/BNB Yeild 25,100.00
2023/12 SSV-NODE-RUNNING Ethereum rETH Network 13,055.56

Community Incentives

The community Incentive Expenditures for December were 13,548.63 FIS in total.
The reason for this lower expenditure was explored in some depth in our October DAO report.

Category Member Reward-FIS
2023.12 Moderator 5 13548.63

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.

Address FIS Amount Staked FIS Amount Available FIS Amount rFIS Amount Type
36JkR8Gzx2tAUaVzHeRQhbsfL5J14j1hrCrYo1F851FLcM4V 40,146 3,000,000 40.14 3,737,606 Genesis(StaFi Chain)
31XQjajM9x14JvUoXE6tMqkRzf2NfGxqmk45szTwHsF7vkq7 1,686,969.92 1,686,960 9.92 2,417,823 Genesis(StaFi Chain)
33UFoCxwXDJwWKKDBx6xp68X7rtBLXun5TvSxtoKmB6KwZnP 0 3,000,018 2 0 Genesis(StaFi Chain)
3327TuapxKGaDVaj6rSyywBQWmbZkiCNHRjfs8hCUzK3eeux 6,300,000 3,000,000 123,199.80 0 Genesis(StaFi Chain)
34e1uL9Y8pJnb2F13x1K3ppHJ4UF9txUYbM2CgqcdSewfsa2 6,300,000 3,800,000 999,999.98 0 Genesis(StaFi Chain)
31ocHCL7Dw8YJC9zeHT7UXiA4ZgjDwzWQgphRKGbSX41fcCg 6,308,683.77 4,797,200 2.59 0 Genesis(StaFi Chain)
33DgUpArHKJgYMepNaqkXFEzYipuD8UYfZsXDmG8ZbHStWAw 14,004,813.98 0 14,431,821.71 0 Inflated reward(StaFi Chain)
stafi1gy5jtfmxw9nyr0p4mkfh9lakegm3jxn3sjdvea 4,224,875.39 0 4,332,942.11 0 StaFiHub

DAO Progress

In December, StaFi DAO is fast-tracking all developments of the StaFi protocol, and DAO construction is in order.:

  • Long-term Incentive for StaFi Moderators Released: StaFi is led by a community-driven DAO organization, and its journey can’t happen without the support of its community members, and the award is a reflection of the fact that StaFi community members benefit from StaFi’s growth while supporting its development.
  • [SIP-6] Bridge Removal Update: as planned, redundant bridges are gradually being removed in 2 phases. The P1 was done & most of the bridges were removed in October. Now the P2 is completed smoothly, all the remaining bridges involving StaFichain to Ethereum & BSC are removed.
  • StaFi community call for December was successfully organized: the StaFi DAO conveyed to the community the developments in StaFi in the last two months and solicited input from the community on related matters.
  • New SIP submitted and the relevant voting implemented: [SIP-10] StaFi rLaunchpad Program: rLaunchpad is a community-led program that empowers FIS holders to select promising Layer1 projects by voting to introduce new rTokens on the StaFi platform. The rLaunchpad page is now available on the stafi website!
  • StaFi FIS & rToken Status Update: the update includes the current overview of FIS , treasury FIS details, the amount of staking tokens, TVL, and rToken supply. Check for more details: StaFi FIS & rToken Status Update - Google Tabellen
  • The voting on StaFi & SSV Co-Incentive Program - Round 1 is passed: the significant progress in its implementation: Step 1-Staking Treasury ETH in StaFi and Step 2: ETH Staking Incentives. Check the details:
  • New DAO Proposal submitted: [Discussion Draft] Integrating Obol with the StaFi Router: The SIP-7 proposal is sanctioned to integrate SSV DVT instead of Trust Validator. This proposal suggests integrating Obol Network to enable DVT implementation for solo validators.
  • New DAO Proposal submitted:[Discussion Draft]The Proposal to Migrate StaFiHub to Neutron: to further enhance the security model of StaFiHub rToken, this proposal is a follow-up proposal to the Tokenomic 2.0 which aims to migrate StaFiHub to Neutron.
  • Bounty List & Warrior Roles updated on the revamped StaFi Warrior Page: to explore it:
  • [SIP-9] rSOL Migration Update: rSOL contracts and relay service development is completed, also supporting the migration of existing rSOL from StaFi chain to Solana contracts. Functions deployed to testnet and currently undergo testing.