StaFi DAO Monthly Report - February 2024

Finance
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StaFi DAO Monthly Report - February 2024

In February, just as the market is getting hotter and hotter, the construction of StaFi 2.0 is getting better and better in the limelight. StaFi DAO is fully supporting all aspects of StaFi 2.0 and hopes to surprise the community in the near future.

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

DeFi Liquidity Incentives

During February, a total of 148,994 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, Cakepie, Curve and StaFi rToken App. Due to the varying timelines for incentive settings, there are incentives on some platforms that continue across months.

This month there was expenditure of 8,800 FIS for Chainlink CCIP service fees, which are also categorized here.

DeFi Protocol/(Fee type) Chain Token/Pairs Platform type Reward-FIS
2024/02 Osmosis Cosmos rATOM/ATOM DEX 30,760.00
2024/02 StaFi Ethereum rETH Yeild 70,000.00
2024/02 Cakepie BSC rBNB/BNB DEX 3,000.00
2024/02 Curve Ethereum rETH/ETH DEX 16,434.00
2024/02 Timeswap ETH rETH Lending 20,000.00
2024/02 Chainlink CCIP Cost Ethereum rETH Oracle 8,800.00

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 this February will be reported here.

Year/Month Protocol Service Token Amount
2024/02 Chainlink CCIP CCIP Automation LINK 23.49
2024/02 Chainlink CCIP CCIP Sender LINK 12.32
2024/02 SSV Network DVT SSV 57.97

For Real-time consumption
(Due to the change of Chainlink CCIP contract router, our services have also upgraded)

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

https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x655603c5c034f89d8e0c25c7bb22cae091219665

  • SSV DVT service:

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

Community Incentives

The community Incentive Expenditures for February were 2450.75 FIS in total.
The reason for this lower expenditure was explored in some depth in our October 2023 DAO report.

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!

Category Member Reward-FIS
2024.02 Moderator 5 2450.75

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 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 February, StaFi DAO’s focus was still around StaFi 2.0.:

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