Highlights
- New staking infrastructure sent to audit
- Deployed a locker factory
- Zerolend locker launched
- Votemarket v2 veBAL and veFXN shipped
- 2m vlCVX votes delegated
Product (Strategy/Smart contracts/UI/Development)
March retrospective
- Staking v2 sent to audit
- Deployed a locker factory
- Zerolend locker shipped
- Votemarket v2 for veBAL and veFXN shipped
- New page for vlCVX delegation, allowing reward forwarding, and managing Votium rewards
- Yieldnest locker deployed
- Automated gauge vote replication for on-chain gauge votes
Focus for April
- Develop the SPECTRA locker
- Work on Spectra strategies
- Staking v2 ready to be shipped
- Launch the Yieldnest locker
- Automations of new lockers’ maintenance
- sdANGLE redemption
Business development
March retrospective
Despite the challenging market environment, March was a very successful month in terms of business development.
- vlCVX vote delegation reached 2m vlCVX making Stake DAO the 7th largest voter on Convex
- Association received c.$40k of grants (from Binance, Morpho and ZeroLend)
- Reached 6% of veZERO supply in the first couple of weeks after the Zerolend locker launch
- Following its repeg, sdPENDLE locker grew by more than 600k sdPENDLE (+66% MoM), going from 900k to 1.5m vePENDLE
- The sdBAL locker also grew by 20%, exceeding 250k veBAL and 5% of the total veBAL supply
- Sharp increase in Yearn strategies TVL going to $7.8m from $3.8m (+105% MoM)
- For the first time in Stake DAO’s history, we passed the symbolic bar of 100 strategies above $100k
- Challenging markets were not enough to offset the growth in OnlyBoost strategies on Curve, and in overall Stake DAO strategies:
- Total TVL in strategies: $57.8m (+$9.2m / +19% MoM)
- Onlyboost TVL: $37.2m (+$5m / +16% MoM)
- Number of strategies above $1m: 14 (+3 / +27% MoM)
- Number of strategies above $0.1m: 101 (+25 / +33% MoM)
- 24.5% of Stake DAO strategies TVL doesn’t come from Curve
Focus for April
- asdPENDLE launch
- Keep working on Tetu boost delegation (currently blocked by technical issues on Balancer side)
- Push the reUSD strategies (main recipient of CRV inflation)
- Find a way to benefit from TAC’s chain bootstrapping
- Grow the ZERO locker
Product investment performance tracking
Financials
Stake DAO treasury : https://debank.com/profile/0xf930ebbd05ef8b25b1797b9b2109ddc9b0d43063
Despite market turmoil, the relative resilience of CRV allowed the treasury to keep a flat performance over the month.
P&L
Revenues and costs for the DAO remained very consistent this month, scoring the same revenues and net profit as for February, despite the challenging market situation. A relative underperformance of the liquid locker division was offset by the strong performance of Stake DAO strategies and treasury management.
Association grant use report
Some exceptional spending (c.$38k coming from annual accounting and recruitment expenses) were offset by the receipt of three grants this month, from Morpho, ZeroLend and Binance.
Legal & governance
March retrospective
- sdANGLE proposal passed
- Redemption proposal for old rescued renBTC was passed
Focus for April
- New proposal to clean the legacy merkel claim infrastructure
- Managing the PancakeSwap situation
- Transfer of socials’ accounts and missing legacy Foundation funds to Stake DAO Association