StaFi DAO Monthly Report - November 2023

Finance
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StaFi DAO Monthly Report - November 2023

November
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November was a busy month for StaFi DAO as we carried out many of our set tasks and explored more possibilities. Take a look at this month’s finances and the progress of the DAO’s construction by reading below.

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
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
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
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
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
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
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

DeFi Liquidity Incentives

During the month of November, we provided a total of 169,193 FIS in liquidity incentives to four trading pairs(rETH/ETH, rBNB/BNB, ATOM/rATOM and rMATIC/MATIC) and one token(rETH) on various platforms such as Osmosis, Aura, Beefy, Velodrome, Wombat, Thena, Curve and Kyber.

You may already found that this month the StaFi DAO has an expense of 38,000 FIS to incentive the rMATIC/MATIC pool on Kyber. But unfortunately it doesn’t work in the end. There was a security incident on Kyber and users have to remove liquidity from it. The Kyber team is working on the issues and we will follow the progress and update to the community.

The highlight of this month is the incentive for Osmosis rATOM/ATOM. As scheduled in the November budget Plan, the Osmosis ATOM/rATOM pool has embarked on an ongoing incentive campaign.

There are two integration fee expenses this month, for SSV and Chainlink, that are also categorized here. 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
2023/11 Curve Ethereum rETH/ETH DEX 22,006.00
2023/11 Velodrome Optimism rETH/ETH DEX 300.00
2023/11 Wombat BSC rBNB/BNB DEX 3,600.00
2023/11 Thena BSC rBNB/BNB DEX 4,500.00
2023/11 Osmosis Cosmos rATOM/ATOM DEX 21,000.00
2023/11 Aura Ethereum rETH/ETH DEX 30,000.00
2023/11 Quickswap Polygon rMATIC/MATIC DEX 3,478.00
2023/11 Beefy BSC rBNB/BNB Yeild 25,100.00
2023/11 Kyber Polygon rMATIC/MATIC DEX 38,000.00
2023/11 SSV-NODE-RUNNING Ethereum rETH Network 11,709.00
2023/11 Chainlink CCIP Ethereum rETH Oracle 9,500.00

Community Incentives

The community Incentive Expenditures for November were 11,685.67 FIS, little changed from the previous month.

The reason for this lower expenditure was explored in some depth in our October DAO report. Rome wasn’t built in a day and we still have a long way to go. If you are interested in LSD, you are always welcome to join us in building StaFi into the Rome of LSD.

Category Member Reward-FIS
2023.11 Moderator 4 11481.16
2023.11 Bot Service - 204.5

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 November, there’s been a lot of DAO-building progress, while the StaFi DAO continues to work on strengthening StaFi’s decentralization: