Highlights
- Nexus Mutual integration done with OpenCover allocating capital to insure Stake DAO deposits
- Morpho market factory was deployed, and first markets were deployed, with allocation from AlphaPing
Product (Strategy/Smart contracts/UI/Development)
October retrospective
- Hypernative integration and new security standard upgrade completed
- YB depositor contract for Votemarket veCRV bribes
- Morpho market factory deployed, first markets deployed, possibility to make wrappers for llamalend LPs
- Hyperliquid locker deployed in partnership with the Looping collective
- Insurance available directly from the UI
- New depositors deployed for sdTKN, to adapt from the Staking v2 migration
- First curated vault available on Stake DAO UI (Llamarisk IPOR vault)
- Router infrastructure for off-chain reward distributions, allowing Staking v2 logic for extra rewards, new hooks, etc.
Focus for November
- Launching Etherlink chain
- Infrastructure as a code back end deployment
- New hook for Votemarket to deposit unspent rewards as direct extra-rewards in the Onlyboost gauge directly
- YB Votemarket
- YB Liquid locker
- Add new curated vaults to the UI in a specific section
- Ability to set allocations manually and withdraw them when necessary on Onlyboost
Business development
October retrospective
- IPOR/LLamarisk vault launched a curated strategy on top of Stake DAO
- Received the veBAL boost from Tetu
- Strong performance of the vlCVX delegation, reaching 4.5m vlCVX and overtaking C2tP in voting power terms.
- Migration towards Staking v2 fully completed
- Strong performance of the PENDLE locker that saw a full repeg and dense minting activity, going to 1.89m PENDLE locked from 1.62m (+17%), mainly driven by the performance of asdPENDLE and the fact that the liquidity scaling framework was put in place for sdPENDLE
- Furthermore, the market draw back in October impacted Stake DAO strategies’ TVL, but the drop was offset by the gain in market share thanks to Staking v2:
- Total TVL in strategies: $143.3m (-$42k / -0.03% MoM)
- Side chains TVL: $15.4m (-3.1$m / -17% MoM)
- v2 strategies TVL: $126.4m (+$5.2m / +4%)
- Number of strategies above $1m: 30 (-4 / -12% MoM)
- Number of strategies above $0.1m: 143 (-9 / -6% MoM)
- Yearn strategies’ TVL: $3.3m (-$2.4m / -42% MoM)
- Pendle strategies’ TVL: $9.6m (-$0.9m / -8% MoM)
Focus for November
- Get curators to allocate capital to Stake DAO markets
- Launch the Stake DAO curated vault
- New curated vaults on Stake DAO
- Secure the Morpho grant once all milestones have been reached
- Secure a grant from Curve for the Morpho markets
- Add Stake DAO LPs to Alchemix v2
- Attract large deposits in the YB locker
Financials
Stake DAO treasury : DeBank | Your go-to portfolio tracker for Ethereum and EVM
The sharp market drop, including the underperformance of CRV, has had a negative impact on the DAO’s treasury.
Net treasury cash flows
The drop in CRV price led to a steep decrease in Strategies and Lockers’ flows. Votemarket’s fee drop was partially offset by a few closure of old vote bounties.
October was the last month with the PancakeSwap compensation as part of the exceptional inflows.
Association grant use report
No exceptional costs this month, leading to an unspent grant of $33k. The negative action of EUR/USD has helped reduce the costs for Stake DAO.
Comprehensive view
September saw an increase in veSDT distribution due to the solid performance of v2 strategies. The total distribution for SDT holders reaches an ATH at $110k monthly.
Legal & governance
October retrospective
- A few proposals were pushed in the forum, to be fully voted and executed in November
Focus for November
- SDGP-59 to shut down completely long term incentive emissions
- SDGP-60: incentivise the sdYB locker thanks to the reward pool
- SDGP-61: Strategic veBAL boost acquisition from Tetu
Disclaimer
The Stake DAO Association acts strictly in an execution-only capacity, pursuant to mandates adopted by the DAO through governance processes. The Association does not provide investment advice, does not engage in asset management on its own account, and assumes no ownership or custody over DAO treasury assets. Any contracts, payments, or services facilitated by the Association are executed solely as administrative and operational support for the DAO, and shall not be construed as creating legal or financial liability of the Association beyond such execution. The Association expressly disclaims succession to any past entity or foundation, and no assumption of legacy liabilities is intended or implied.
