StaFi DAO Monthly Report - January 2024
The first month of 2024! The market is up and down several times during this month, but StaFi DAO members are stay awake and keep building all the time. Let’s see how StaFi DAO is doing in January.
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 |
DeFi Liquidity Incentives
During January, a total of 127,776.49 FIS in liquidity incentives to four trading pairs(rETH/ETH, rBNB/BNB, rATOM/ATOM and rMATIC/MATIC) and two tokens(rETH and rSOL) on various platforms such as Osmosis, Thena, Curve, Quickswap and StaFi rToken App. Due to the varying timelines for incentive settings, there are incentives on some platforms that continue across months. For example, this month on Beefy and Quickswap there are incentives that started last month.
Costs incurred for the rSOL migration, which is 4,342 FIS, as well as costs incurred for the StaFi-Ethereum bridge, which is 12,820 FIS, are also categorized together in this month’s incentive expense.
| DeFi Protocol/(Fee type) | Chain | Token/Pairs | Platform type | Reward-FIS | |
|---|---|---|---|---|---|
| 2024/01 | Thena | BSC | rBNB/BNB | DEX | 2,000.00 |
| 2024/01 | Quickswap | Polygon | rMATIC/MATIC | DEX | 10,000.00 |
| 2024/01 | Osmosis | Cosmos | rATOM/ATOM | DEX | 30,000.00 |
| 2024/01 | StaFi-Ethereum Bridge Fee | StaFi | rToken | Bridge | 12,820.00 |
| 2024/01 | rETH-SSV | StaFi | rETH | DVT | 11,879.49 |
| 2024/01 | Curve | Ethereum | rETH/ETH | DEX | 26,735.00 |
| 2024/01 | Timeswap | Arb/ETH | rETH | Lending | 30,000.00 |
| 2024/01 | rSOL migration Fee | StaFi | rSOL | Bridge | 4,342.00 |
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 January will be reported here.
| Year/Month | Protocol | Service | Token | Amount |
|---|---|---|---|---|
| 2024/01 | Chainlink CCIP | CCIP Automation | LINK | 164.81 |
| 2024/01 | Chainlink CCIP | CCIP Sender | LINK | 2.4483 |
| 2024/01 | SSV Network | DVT | SSV | 88.0933 |
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 January were 2,245.33 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 | |
|---|---|---|---|
| 2024.01 | Moderator | 4 | 2,065.84 |
| 2024.01 | Bot Service | - | 179.49 |
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 |
- Updates
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.
DAO Progress
In January, StaFi DAO is focusing on the preparatory work of building StaFi 2.0:
- StaFi 2023 Yearly Recap released: In 2023, StaFi explore new narratives, improve existing products and develope new ones, with cooperations pursued vigorously, while the remarkable growth of StaFi DAO from 0 to 1 was achieved.
- Vote passed to migrate StaFiHub to Neutron: The development is currently underway, including a set of CosmWasm smart contracts and related backend services.
- 2024 Q1 Roadmap - StaFi 2.0 Released: 2023 is a Year of Progress and Achievements to StaFi and in 2024, a Revolutionary StaFi 2.0 is coming as the raising star.
- StaFi 2.0 Draft Plan Discussion is submitted: the Polkadot label, the limited rToken protection and the ineffective FIS inflation are the problems to be addressed in order to build the StaFi 2.0. New Tokenomics & FIS New Design were proposed in this discussion.
- StaFi Warriors Team Openings for passionate individuals: Community Manager, BD Moderator and Contributors with skills in drawing or using AIGC to create high-quality images are the top wanted telents currently.
- [SIP-9] rSOL Migration Update: rSOL has completed its migration to Solana chain bringing improvements to StaFi, and providing users with a more seamless and secure experience.
- New rToken Listing Proposals submitted: rMETIS, rASTR, rNEAR, rFTM, rSEI, rBGT and rXPLA are the potential rTokens nominated by the community. Join the discussion now and show your passion of your ideal new rTokens!