Treasury House
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Treasury House
$17.2M in payouts, $539M assets imported, NFT Fashion Marketplace DIGITALAX is adding NFTs to its treasury, Fei protocol will send 2M FEI to visor finance to earn yield and provide liquidity and more.
🌈 Hey Coinshifters,
This week we have got you our growth numbers. Yep, that is more than
$500 000 000 in total assets 🥳
And the curated treasury proposals include -
An NFT Fashion Marketplace DIGITALAX is adding NFTs to its treasury.
Fei protocol will send 2M FEI to visor finance to earn yield and provide liquidity however possible. Along with the partnership between the two, FEI will be provided for pools on Ethereum mainnet and/or Arbitrum.
With the increase in Ethereum price, there are a lot of protocols adopting Layer 2, just like Uniswap's proposal on incentivizing liquidity on Arbitrum and Optimism.
Latest MultiSafe Stats
Total Users - 193
Payouts - $ 17.2M ✅
Total assets - $ 539 Million ✅
How about sharing the newsletter with your peers or the ones you find would be interested.
Do you know - We spend a lot of time creating the best Treasury management software. And our driving force is your feedback. So reach out to us at - Discord Channel
Every response will be read. ✌️
Treasury proposals for this week
1️⃣ DIGITALAX Treasury Web3 Fashion Marketplace Purchase
The proposal includes DIGITALAX Treasury purchasing one of the NFTs from spotlighted designer from the DIGITALAX fashion marketplace and holding this in the DIGITALAX Treasury Vault.
An activity named ‘Designer weekly spotlight’ will start on Nov 22 (coming Monday) and continue for the course of the week. In last week’s Designer Spotlight Snapshot, Stan Mclygin ranked as the highest voted designer.
Voting Type: Quadratic voting
Eligible Voters: $MONA and Genesis MONA NFT holders
There are four NFTs selected for the proposal, out of which the highest-ranked NFT by voters will add to the DIGITALAX Treasury Vault. GDN DAO will also be voting on which item from Stan’s collection on the marketplace to purchase for the GDN Treasury vault.
Condition: If DIGITALAX voters and GDN voters rank the same NFT highest across both proposals, then the DIGITALAX vote will get priority GDN DAO will go with the second-highest option selected.
Click here to find out which NFT has the highest votes.
2️⃣ Fei Protocol to deposit 2M FEI Into Visor Finance
The proposal is about the Fei protocol and Visor finance partnership in which 2M FEI will be deposited into Visor finance.
Treasury management for Fei’s treasury assets using Visor Finance for any of the following pools:
FEI-USDC @ 0.05% fee tier on both Mainnet and Arbitrum
FEI-ETH @ 0.3% fee tier on both Mainnet and Arbitrum
FEI will be sent to the Visor position manager contract called the Hypervisor (hypervisor/Hypervisor.sol at master · VisorFinance/hypervisor · GitHub 1), which will mint fungible ERC-20 LP tokens to a whitelisted address provided by FEI.
FEI will be actively managed on the FEI-USDC or FEI-WETH liquidity pools on Uniswap v3 on Mainnet and/or Arbitrum.
Only the whitelisted address provided by FEI will have the right to deposit/withdraw assets to and from the Hypervisors.
The position manager contract has the right to a few functions which are to set base ranges, set limit ranges, collect fees, rebalance, and mint/burn LP tokens to the whitelisted address.
Visor Finance takes 10% of earned fees, which get distributed to VISR stakers. 90% of earned fees will be automatically re-invested into the LP positions. Visor Finance will cover all gas fees for rebalancing positions and re-investing earned fees.
There are two main action items -
Send FEI to the Mainnet Hypervisor contract and/or Arbitrum Hypervisor contract
Receive ERC-20 LP tokens for LP positions in the whitelisted address provided by Fei
Click here to read the proposal.
3️⃣ Uniswap governance should start incentivizing liquidity on Arbitrum and Optimism
The price of Ethereum has increased and will keep growing with time, making it a good investment option but not a good choice for paying gas fees to execute transactions and other on-chain activities on Layer-1. Moreover, the Ethereum mainnet has become unusable for regular users, especially for the newcomers trying DeFi for the first time.
Adoption of Layer 2 has been slow because of the three main blockers -
Missing Incentives - Networks like Avalanche, Celo, and Near do not have native tokens, which is a barrier for rollups and therefore rely on the application layer to incentivize adoption. There are billion-dollar treasuries of Ethereum native DeFi protocol like Uniswap and others waiting to deploy on Layer-2 for productive purposes.
Missing fiat on-ramps - Without direct on-ramps onto Layer-2 networks, users face high barriers before they can enjoy the benefits of these networks as they have to withdraw from a CEX to Ethereum to then bridge up from Ethereum to the promised land of Layer 1.
If the case price of Ethereum increases before the exchange, the individual loses half of its portfolio.
Slow application migration to Layer-2’s - A chicken and egg problem as CEXs don’t support L2s since they don’t have users and are waiting to see user adoption first to justify the integration efforts. On the other hand, users aren’t on L2s because there are insufficient CEXs.
In this case, Uniswap has uniquely positioned to kickstart growth by launching a liquidity mining campaign on Layer-2. Reasons being:
Uniswap sits on an 11 billion treasury which is underutilized.
One of the essential money legos in the DeFi ecosystem is to have a strong signaling power and trigger more applications to follow suit and invest resources into deploying on Layer-2.
Liquidity and yields would set into motion a large-scale migration of users on Layer-2.
The proposal results are in favor of incentivizing liquidity on Arbitrum and Optimism. Moreover, L1 has no chance of becoming affordable and will likely only get more expensive as time goes on, making the Arbitrum/Optimism instances our primary focus.
Click here to read the proposal.
If you’ve got thoughts on what should be discussed or any other feedback. Join us at our - Discord Channel
👋 👀 See ya’ll next week!
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