February 2024 activity report

General Activity report
#1

Highlights

  • Role of the Association has been defined by governance
  • Final audit reports received for Onlyboost including fixes
  • Votemarket for veSDT, veFXN and veCVG

Product

February retrospective

  • Final audit reports received for Onlyboost including fixes
  • Votemarket for veSDT, veFXN and veCVG
  • Deployed an OTC bribe registry contract to automate the management of OTC bribes received by lockers
  • Deployed the sdCAKE voter contract
  • Top Cake leaderboard
  • Votemarket Github API
  • Angle on-chain governance adaptation
  • Deployed vsdCRV OFT

Focus for March

  • Deploy Only Boost
  • Migrate all the strategies to the new architecture for massive gas cost improvement and better security.
  • Migrate all the accumulators to the new architecture.
  • Create a dune Dashboard for SDT
  • Deploy trisdCRV pool on Arbitrum
  • Deploy a Fraxtal FXS locker
  • If possible deploy Votemarket on Fraxtal

Business development

February retrospective

  • Submitted Reserve/Confusion Capital grant
  • Received 20% of the Binance grant
  • Received 70% of the ARB grant
  • Converted an additional 3m CRV, reaching 4m out of the 6m CRV voted by Aave Governance to be deployed on Stake DAO.
  • sdFXS, sdANGLE, sdFXN pegs restored following Convergence launch and FXTL and PYTH airdrops
  • Supported the launch of Convergence with technical and marketing support.

Focus for March

  • Delivering better performance to Aave than their cvxCRV bag to motivate them coming back to the voted governance decision
  • Onboarding Matrixdock with a test amount to sdCRV
  • Signing a distribution agreement with Staking Rewards
  • Selling Onlyboost

Financials

[Stake DAO treasury](https://debank.com/profile/0xf930ebbd05ef8b25b1797b9b2109ddc9b0d43063)

722×298 31.5 KB

  • Market going up positively impacted the treasury which gained almost $1m in value in February.

P&L

840×846 72.2 KB

  • Legal costs are exceptional and should keep going in Q1 2024 but should go down significantly after.
  • Legacy products revenues are also mostly exceptional (exit fees on old strategies).

Legal & Governance

February retrospective

  • Role of StakeDAO Association defined by governance
  • Set up of the Association and first general assembly
  • Preparation of the legal set up to enable the Association to perform services for the DAO

Focus for March

  • Propose the new multisig and contract structure
    • Subject to approval by the governance, proceed to elections of signatories and their suppleants
  • Push a grant proposal by the Association to the DAO for the development of the product for the next six months
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