Stake DAO Association November 2024 Report
Highlights
- Launch of Votemarket v2
- Most profitable month of the year
Product (Strategy/Smart contracts/UI/Development)
November retrospective
- Launched VMv2
- Fixed VMv2 UI bugs
Focus for December
- Expand VMv2 to other projects (FXN and BAL to start with)
- Continue working on Staking v2
- Create an adapter that allows using other bridges than CCIP for VMv2
- Ship the Balancer vestor contract
- Top Cake airdrop
Business development
November retrospective
- Sold VMv2 to several users, leading to $300k deposit for the first round
- Good commitment receive to move vlCVX bribes to Votemarket once we secure vlCVX votes
- Helped Aladdin getting ready to optimise vlCVX votes including Votemarket
Focus for December
- Enlarging Votemarket incentives to vlCVX incentives
- Explore listing on a tier 2-3 exchange
- Increase penetration of Onlyboost
Financials
Stake DAO treasury : https://debank.com/profile/0xf930ebbd05ef8b25b1797b9b2109ddc9b0d43063
The treasury saw a steep increase this month following:
- CRV repricing
- MORPHO airdrop
- RSR claimed from the yield obtained from the deal with Reserve
P&L
November was the most profitable month of the year, which is heading towards an overall positive net profit in 2024. The increase of CRV price led to an increase in Strategies revenue. The increase of revenues of Curve and Pendle lead to an increase in revenues for the Lockers. Votemarket revenues didn’t increase as there is a delay between the increase in overall market size and the total vote incentive output catch up, but an increase is to be expected in December.
Association grant use report
The Association saw its lowest historical costs, leading to an overall profit of $106k net profit for the DAO in November.
With our lower than expected costs, the Treasury committee asked StakeDAO Association to adapt the payment schedule of the grant to allow keeping at work the treasury. Below the new payment schedule.
Legal & governance
November retrospective
- stakedao.eth ENS transferred and increased
Focus for December
- vlCVX delegation incentivisation proposal
- Grant request for H1-25
- Listing decision proposal
- Transfer of socials