Highlights
- PancakeSwap strategy for v2 pools
- IFO Cake Strategy
- VM on Arbitrum for non-Curve markets
- UI translation in Chinese, French and Spanish
Product
May retrospective
- PancakeSwap strategy for v2 pools
- IFO Cake Strategy
- VM on Arbitrum for non-Curve markets
- UI translation in Chinese, French and Spanish
- OKX wallet integration
- Automation improvements
- Several UI improvements
Focus for June
- Fraxtal FXS locker
- Onlyboost Activity bot
- Automation: handle HH BSC bribes
- Cross-chain PCS strategy
- CAKE IFO UI
- MAV airdrop
Business development
May retrospective
- Grew Arbitrum TVL thanks to co-incentives negotiated with Frax on our Frax/USDC Arbitrum strategy
- Failed to qualify for the STIP-bridge
- Maintained consistent peg on sdCRV to be well positioned to lock more
- Steep increase in Onlyboost TVL: $12.5m (+56% vs April):
- 3 strategies above $1m TVL
- 9 strategies above $500k
- 22 strategies above $100k
- 32 strategies with material deposits
- 8 strategies with more than 10% of Gauge supply on Stake DAO (which is our target), for a total of $7m TVL
- In total, Stake DAO Onlyboost is exposed to 2.6% of Curve’s inflation (up from 1.4% in April)
- Out of those, we are generating fees on 1.9% of Curve’s inflation (target: 10%)
Focus for June
- asdCRV llamalend on Arbitrum
- Layer 0 airdrop RFP
- Verify tokens on Etherscan
- Finish the spending of the STIP grant
- Strategic research about medium term development
- Creation of the marketing fund
- Obtaining from Aladdin that they do an asdPENDLE
- Creation of the asdCRV yield market
Financials
Treasury breakdown:
P&L
CRV price action is not helping our Votemarket or Locker or Treasury revenues. However we managed to grow Arbitrum based treasury revenues, and consolidated some unclaimed liquid locker revenues. The new treatment of Pendle votes grew sdPENDLE yield and therefore our revenues from this locker.
Association report
Another month of lower than expected spending for the Association. A $40k legal bill is still yet to come though.
Legal & Governance
May retrospective
- Commercial registration of the Association obtained
- Bank account created
- Team alignment proposal voted
Focus for June
- Recovery of missing Foundation funds
- SDT liquidity proposal
- Strategic community conference organisation
- Team alignment execution