# January 2024 activity report

**URL:** <https://gov.stakedao.org/t/january-2024-activity-report/908>\
**Category:** Activity report\
**Created:** [12 February 2024 19:22 UTC](https://gov.stakedao.org/t/january-2024-activity-report/908 "2024-02-12T19:22:17Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Tube](https://gov.stakedao.org/user_avatar/gov.stakedao.org/tube/32/264_2.png) [@Tube](https://gov.stakedao.org/u/Tube)\
**Post date:** [12 February 2024 19:22 UTC](https://gov.stakedao.org/t/january-2024-activity-report/908/1 "2024-02-12T19:22:17Z")

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## Highlights

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

## Product

#### 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

## Financials

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

 ![](https://gov.stakedao.org/uploads/default/original/1X/d62b07d6d9bc6e7dfe5bfe8acbdf560eefec15cf.png)

#### P&L

 ![](https://gov.stakedao.org/uploads/default/original/1X/e7a10102b8bc4765b4f630751c0a24d97e4f261e.png)  
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