StakerDAO Revenue and Roadmap Update — July 2021
By: Staker Community
Tags: Dao, Ethereum, Tezos, Defi

During the 1st half of 2021, the StakerDAO community has been busy organizing itself, passing governance proposals, and launching products. This report serves as an update on everything going on, a report on revenue generated, the state of the treasury, and what the community is focused on in the 2nd half of 2021.

StakerDAO is built by and for its community

1st Half Accomplishments

In March, StakerDAO launched the STKR governance token and distributed STKR to users of StakerDAO products as well as to Tezos bakers. As part of the launch of STKR, 50% of all STKR tokens were allocated to the community treasury, unlocking over a 2 year period. More details here.

In March, StakerDAO launched 2 farms: ETH/STKR Uniswap V2 LP farm and wXTZ/STKR Uniswap V2 LP farm.

In April, the community implemented a governance proposal to sell 500k STKR tokens on DODO Exchange to create a community managed pool.

In April, the community approved and implemented a governance proposal to allocate $10k of STKR to fund a community bounty program.

In April, the community approved and funded a governance proposal to build the PINT project in the Polkadot ecosystem.

In May, the community approved, and in June launched a series of farms on Tezos including XTZ/STKR, XTZ/wXTZ and XTZ/kUSD.

In May, the community launched the BLND/ USDC exchange so that registered BLND holders can buy and sell BLND at NAV.

In June, the community approved a governance proposal to rebalance the BLND basket by adding Polkadot, and to perpetually fund the BLND /USDC exchange. The former effort is under development while the latter is live.

1st Half Revenue Generated: $133k

Based on community approval, StakerDAO collects a 2% annual fee from the BLND NAV to manage the project. For 1H 2021, the fees generated were $102500.

The BLND exchange charges a 2% redemption fee at the time of exchanging BLND for USDC. From the launch of that exchange, the total amount collected is 13,170 BLND, or $22,389 at today’s BLND price.

StakerBridge charges a variable fee for users who move their tokens between Ethereum and Tezos. Since launch, there have been 326 bridges of tokens with an average fee of $27 generating $8800 in revenue.

Total revenue generated in 1H = $133k.

2nd Half Project Plan

The community has already approved the development of several new StakerDAO projects that will launch in 2H 2021 including wALGO and PINT, and the community anticipates developing and approving other new projects that further the growth of StakerDAO.

Wrapped Algorand: The wALGO project is 90% completed and is awaiting the release of an API endpoint on the Algorand network so that the StakerBridge can safely account for transactions moving between those networks. RAND Labs has been contracted to finalize this endpoint and the most recent ETA is for delivery in late July. Once this project is in place, the team at OpenDAO is planning on integrating wALGO into their algorithmic stablecoin project, and StakerDAO will have the opportunity to launch wALGO related farms to grow wALGO liquidity on Ethereum should the community choose to do so.

PINT — The Parachain Index Network Token (Polkadot): StakerDAO has funded Stateless Money and ChainSafe to build a massive new product on Polkadot. The PINT team has been providing thorough updates and are on track to release PINT when Polkadot Parachain auctions go live. Currently up for debate is if a PINT like token should be launched on Kusama to create an Index of KSM related parachain projects. Stateless Money is looking for community feedback on this issue.

2nd Half Revenue Forecast: $150k — $340k + PINT revenue

BLND fees: $100k — $200k depending on underlying asset pricing.

wXTZ stability fee: $10k — $40k depending on community determined settings

wALGO stability fee: $10k — $40k depending on community determined settings

BLND exchange fees: $10k — $40k

Bridge fees: $10k — $20k

PINT fees: 20% of revenue collected from staking assets. Too early to forecast.

State of the Staker Community Treasury

The Staker Community Treasury is a set of community directed wallets that hold assets that can be used to further the goals of StakerDAO. Funds can be spent from the community wallets based on the Staker Governance process. The Treasury holds the following assets as of July 1st, 2021:

25.5M STKR

53k USDC

26.2 ETH

Revenue from 2H21 will be added to the treasury as it is accrued. The treasury will accrue 30M STKR during the quarter. Expenses of approximately $250k are committed to complete the PINT project.

Community Call #3 scheduled for Wednesday, July 14th at 3pm UTC / 8am PST.

The community will come together on Wednesday July 14th on the Discord voice chat channel to talk about our projects and future proposals. We have invited members of the wALGO, PINT, Farms, and Strategy teams to give updates and hope for a spirited community discussion on what StakerDAO should tackle next. Join us!