Motivation
StaFi is actively undergoing decentralization, aiming to become a permissionless, contributor-driven DAO. In order to enhance transparency and promote long-term sustainability, we are releasing the details of the DAO treasury. Here is the list of the treasury's contents:
| Address | FIS Amount | Available FIS Amount | rFIS Amount | Type |
|---|---|---|---|---|
| 36JkR8Gzx2tAUaVzHeRQhbsfL5J14j1hrCrYo1F851FLcM4V | 40,146 | 40,416 | 3,737,606 | Genesis(StaFi Chain) |
| 31XQjajM9x14JvUoXE6tMqkRzf2NfGxqmk45szTwHsF7vkq7 | 1,686,969.923 | 1,686,969.923 | 2,417,823 | Genesis(StaFi Chain) |
| 33UFoCxwXDJwWKKDBx6xp68X7rtBLXun5TvSxtoKmB6KwZnP | 0 | 0 | 0 | Genesis(StaFi Chain) |
| 3327TuapxKGaDVaj6rSyywBQWmbZkiCNHRjfs8hCUzK3eeux | 6,300,000 | 6,300,000 | 0 | Genesis(StaFi Chain) |
| 34e1uL9Y8pJnb2F13x1K3ppHJ4UF9txUYbM2CgqcdSewfsa2 | 6,300,000 | 6,300,000 | 0 | Genesis(StaFi Chain) |
| 31ocHCL7Dw8YJC9zeHT7UXiA4ZgjDwzWQgphRKGbSX41fcCg | 6,308,683.771 | 6,308,683.771 | 0 | Genesis(StaFi Chain) |
| 33DgUpArHKJgYMepNaqkXFEzYipuD8UYfZsXDmG8ZbHStWAw | 14,004,813.98 | 14,004,813.98 | 0 | Inflated reward(StaFi Chain) |
| stafi1gy5jtfmxw9nyr0p4mkfh9lakegm3jxn3sjdvea | 4,224,875.39 | 52,568 | 0 | StaFiHub |
We have a total of 36,231,969.82 FIS and 6,155,429 rFIS in the Treasury, which includes both the Inflation Treasury and the Community Treasury allocated from Genesis Sumup. This represents approximately 34.61% of the total supply.
Upon examination, it is evident that a significant portion of the FIS remains unused in the wallet balance, without being utilized by the core team or the community. This results in a substantial loss for the treasury and undermines the confidence of FIS holders. To address this issue and enhance the treasury's effectiveness, we propose staking the majority of the treasury FIS on the StaFi Chain.
Furthermore, we will ensure transparency by providing regular updates on the status of this portion of the treasury in the monthly financial reports.
Specification
Currently, the primary purpose of FIS in the treasury is to incentivize liquidity providers (LPs) to contribute liquidity to rTokens across various DeFi protocols and reward StaFi Hub validators for securing rTokens in the Cosmos ecosystem. LP incentives are regularly disclosed in the financial report, while the annual incentives for StaFi Hub validators amount to approximately 2 million FIS. Based on calculations, the combined annual expenses for LP and validator incentives total around 5 million FIS, which represents approximately 13.8% of the FIS held in the treasury.
To maintain flexibility and reserve funds for the next two years, as the one-year incentive of 2 million FIS for StaFi Hub is set to expire and requires reallocation. The plan is to designate approximately 9 million FIS (25%) as working capital, which includes the new one-year incentive for StaFi Hub. The remaining 27 million FIS will be staked on the StaFi Chain.
Action
If this proposal undergoes thorough community discussion without any objections, the core team will proceed with staking approximately 27 million FIS on the StaFi Chain. The earnings generated from this staking and the expenses from the treasury will be transparently disclosed in the monthly financial report.
Vote
For: Support StaFi DAO to stake Treasury FIS.
Against: Do nothing.
Please read the full SIP here.
You can read discussion around this in the forum thread.
