January 2024 activity report


  • Finalised the preliminary work on decentralisation
  • Deployed the CCIP bridge
  • Ramped up veCAKE votemarket


January retrospective

  • Worked on OnlyBoost audit fixes
  • Worked on PancakeSwap strategies which involve NFTs (v3 positions)
  • Deployed the CCIP SDT bridge
  • Deployed the new Angle voter contract to adapt to Angle’s new onchain governance
  • Deployed Binance web3 wallet connection
  • Created a Dune dashboard to track the deployment of the Arbitrum grant
  • Optimized our infrastructure to save on hosting costs

Focus for February

  • Deploy CAKE Strategies
  • 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
  • Build and Deploy Convergence Market on Votemarket
  • Rethink the SDT Distribution process for gas-cost efficiency and less operational management
  • Automate the management of OTC bribes with a new OTC bribe registry contract
  • Create a dune Dashboard for SDT
  • Deploy veSDT Market on Votemarket

Business development

January retrospective

  • Performed the necessary actions for the reception of the Arbitrum and Binance grants (but not received yet)
  • Converted 1m CRV out of the 6m CRV voted by Aave Governance to be deployed on Stake DAO
  • Attracted significant vote incentives on Pancake Votemarket in the initial rounds
  • sdCRV peg back from 0.92 to 0.96 CRV
  • Onboarded several veCAKE bribers to votemarket and reached $30k of bribes per round (notably with the onboarding of Overnight)

Focus for February

  • Converting the remaining 5m CRV from the Aave GLC as per the governance vote.
  • Receiving the Binance and Arbitrum grants and starting deploying them.
  • Converting CRV unlocked from August OTC to sdCRV
  • Distributor deals for sdCAKE and CAKE strategies
  • Bringing sdCRV back to peg


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


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

January retrospective

  • Landed on a legal structure that will be proposed to the DAO in February.
  • Performed KYC and KYB for grant reception from Binance and Arbitrum.
  • Proposals published to reduce SDT inflation and to reward

Focus for February

  • Propose the role of the association to the governance
  • Subject to favorable vote from governance:
    • Migrate ownership of tools and media to the association
    • Commercial registration of the association
    • Opening bank account for the association
    • Push proposal for on-chain voting infrastructure
    • Push proposal for multisig structure and treasury management