Highlights
- Moved Vote-incentive distribution to weekly from fortnightly
- Working mainly on preparing the Audit for VM v2
- Record month for sdCRV locker, with 28m CRV locked, biggest month in absolute and relative numbers
- Solid 84% growth for OnlyBoost strategies
Product
July retrospective
- Moved Vote-incentive distribution to weekly from fortnightly
- New version of the current VM platform to allow specific fees and fix a bug
- New Pendle strategy factory
- Harmonised all accumulators
- Polygon Votemarket UI
- Specs for VM v2
- sdMAV snapshot
- Fixed several UI bugs and made some improvements
Focus for August
- PCS VM xChain
- VM v2 audit
- VM v2 UI preparation
Business development
Month N retrospective
- Locked 28m CRV
- Polygon grant submitted
- Llamalend asdCRV market on Arbitrum is live and seeded
- Solid growth of Onlyboost:
- $16.7m TVL (+84% MoM)
- BD progress: 43%
- Key metrics:
Focus for August
- Arbitrum STIP bridge: discussing with delegates to elaborate a strategy for the next grant
- Polygon grant
- Bribe integration in Curve’s infrastructure
- Creation of the marketing fund
- Obtaining from Aladdin that they do an asdPENDLE
Financials
P&L
CRV price action is not helping our revenues, but strategies and locker growth helped partially offset the drop in VM revenues. However we received a good airdrop from Layer Zero (exceptional revenue in the above table), which is allowing us to stay in positive territory this month.
Association grant use report
We had excess spending this month due to a $40k audit bill and the (slightly higher than expected) legal costs. It should be the last expected exceptional legal bill. Another $31.5k audit bill is expected for August.
Legal & Governance
July retrospective
- Team alignment execution
- Domain name transferred to the Association
- SD Association H2 grant request
Focus for August
- Remove inefficient VBMs
- Reward allocation pool
- Twitter and Telegram accounts transferred to the Association