Highlights
- VM v2 sent to audit
- Solid locking activity for Curve with approximately 6m CRV locked
- 25% growth for OnlyBoost strategies
Product (Strategy/Smart contracts/UI/Development)
August retrospective
- Submitted VMv2 to audit
- Several automations done regarding bribe distributions
- New VM platform to allow specific deals such as the one with Curve
- Fixed some bugs notably veSDT gauge voting
- Working on Pigeon
- vsdCRV on Polygon
Focus for September
- PCS VM xChain
- VM v2 audit completion
- VM v2 deployment
- Staking v2 ready for audit
Business development
August retrospective
- Locked 6m CRV
- 1m SDT market bought and locked by Reserve as a consequence of the announcement of vlSDT
- Good growth on Pendle strategies: c.$3m TVL
- Marketing fund created
- asdPENDLE audited by Aladdin
- Solid growth of sdCAKE
- Solid growth of Onlyboost:
- $22m TVL (+35% MoM)
- BD progress: 49%
- 20 strategies above $500k (+82% MoM)
- Key metrics:
Focus for September
- Securing vlCVX votes for VMv2
- Securing wholistic bribes from Alchemix, Inverse and Abracadbra
- Launching VMv2
- Preparing the launch of Staking v2
Financials
Stake DAO treasury : https://debank.com/profile/0xf930ebbd05ef8b25b1797b9b2109ddc9b0d43063
P&L
CRV price action is not helping our revenues again as vote incentive output has significantly gone down (also linked to Yearn not claiming all their vote incentives). Strategies and locker revenue were consistent with last month which is a nice news. Costs were also higher than normal with some audit costs.
Association grant use report
We overestimated the audit costs for August (a portion was actually paid in July), which leads to close to $37k of excess grant this month.
Legal & governance
August retrospective
- Remove inefficient VBMs
- Reward allocation pool
- Initiated work to fix the Unlock situation
- Code of Conduct created and presented to contractors
Focus for September
- Finish the signing of the IP letter
- Finish the recovery of missing Fundation funds
- Finish the transfer of Twitter and Telegram accounts to the Association
- Unlock situation