StakeDAO Association September 2024 Report

General Activity report
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:elephant:Stake DAO Association September 2024 Report

Highlights

  • VM v2 audit completed (including fixes and fixes review)
  • Eigenpie IFO completed
  • 4m CRV locked

Product (Strategy/Smart contracts/UI/Development)

September retrospective

  • Finished the audit of VMv2
  • Working on VMv2 UI
  • Infrastructure for vlCVX bribing
  • Re-enabled Pendle factory
  • Eigenpie IFO
  • Deployed the boost delegation infrastructure for the CRV locker

Focus for October

  • VMv2 deployment
  • sdBAL vestor for Balancer Maxis

Business development

September retrospective

  • Locked >4m CRV (Aug: 113.7m, +4%)
  • Good growth on Pendle strategies: c.$5m TVL (v/s $3m in August, +60%)
  • Solid growth of sdCAKE
  • Solid growth of Onlyboost:
    • $24m TVL (vs $22m in August, +9% MoM)
    • BD progress: 70%
    • 25 strategies above $500k (vs 20 in August, +25%)
  • Stake DAO strategies general metrics:

Focus for October

  • Securing vlCVX votes for VMv2
  • Securing holistic bribes from Alchemix, Inverse and Abracadbra
  • Launching VMv2
  • Secure 50m veCRV boost delegation to reach 20% of Curve’s boost
  • Have balancer Maxis vesting into sdBAL

Financials

Stake DAO treasury : https://debank.com/profile/0xf930ebbd05ef8b25b1797b9b2109ddc9b0d43063

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P&L

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Revenue-wise, the current bribe market is very apathetic since last dump of the CRV price, with high efficiency, meaning less revenue for Stake DAO. Furthermore, high gas costs in September reduced the amount of harvests which delayed the collection of strategy fees. Furthermore low CRV native yield had an impact on locker and treasury revenues.

Association grant use report

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We had to delay the Staking v2 audit, which led to lower than expected audit cost for September. Furthermore, a developer ceased offering his services to the Association, which led to lower R&D charges. With those two factors in mind, the Treasury committee asked StakeDAO Association to adapt the payment schedule of the grant to reflect those changes. Below the new payment schedule.

Legal & governance

September retrospective

  • Temporary relocking of veMAV has been paused.
  • SDGP 44 passed: up to 1 million SDT sent from the Association to seed the Rewards Allocation Pool.
  • VAT ruling obtained by the Association, notably confirming the decentralized nature of Stake DAO.

Focus for September

  • Finish the signing of the IP letter.
  • Finish the recovery of missing Fundation funds.
  • Finish the transfer of Twitter and Telegram accounts to the Association.
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