Discover more from Coinshift Newsletter
$16.5M in payouts, $261M assets imported, Coinshift feature update, and Treasury Updates on Aave, Bankless DAO, and Olympus DAO.
🌈 Hey Coinshifters,
This week we’ve got a new Coinshift feature i.e labeling the transactions along with the demo video (attached below in What’s new in Coinshift)
Along with the Crypto Treasury updates in What’s new in Crypto Treasury on ( Bankless DAO <> Tokemak, Olympus DAO, and Aave )
This week’s growth numbers -
Latest Coinshift Stats
Total Users - 185
Payouts - $ 16.5M ✅
Total assets - $ 261 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. ✌️
🔥 This week in Coinshift
🙌 Labels for Transactions
Users can seamlessly attach multi-dimensional labels to all the internal and external transactions to Coinshift. This will help the user in generating detailed reports about the Treasury Spending.
See the demo Video Below
🔥 What’s new in crypto
👉 Bankless <> Tokemak - Bankless DAO wants to execute the swap with Tokemak for BANK reactor ignition - dependent upon C.O.R.E voting results.
Bankless DAO is looking forward to integrating with Tokemak to mitigate the challenges of liquidity depth and deployment for a $BANK token.
Currently, the platform supports:
Uniswap (v2 at the start)
In the future, they will support more AMM’s and plan to deploy to multiple L2’s. But right now, the benefits this integration will enable to its users are -
Quick and efficient deployment of Liquidity,
Create a token swap opportunity for the DAO to be exposed to the valuation of TOKE
Giving BANK holders a novel chance to single-sided stake their bank on the TOKEMAK platform
For Kick start token reactor, they will do token swapping of $3,000,000 in notional value of BANK for TOKE.
The most important thing to note is that Tokemak enables users to provide Liquidity and control where that Liquidity goes.
Liquidity Providers deposit single-sided assets into individual Token Reactors and/or Genesis Pools (ETH, USDC) and earn yield in the form of TOKE, Tokemak’s native protocol token.
Liquidity Directors stake TOKE into individual Token Reactors and vote how that Liquidity gets paired from the Genesis Pools and to what exchange venue it gets directed. They, too, earn yield in the form of TOKE.
The protocol captures fees from providing Liquidity across DeFi. Over time, this will allow Tokemak to build a substantial reserve of various assets in Tokemak’s PCA (Protocol Controlled Assets). In the end, the PCA is controlled by TOKE holders through decentralized governance.
It offers opportunities for exchanges to reinforce their Liquidity and for market makers to leverage the PCA to create deep Liquidity for a specific project.
Success Metrics -
Deep Liquidity in the chosen AMM of BanklessDAO
Ability to quickly deploy to different AMM’s and later L2’s.
No or low slippage for trades (buy or sells)
Staking opportunity for BanklessDAO members(BANK holders)
Treasuries (DAO and GUILDS) and BANK holders could stake BANK for TOKE rewards.
Increased treasury value from the token swap (TOKE)
BanklessDAO would gain exposure to the TOKE token value, and if the platform does well and accrues value, the valuation of TOKE would increase.
In Addition, the difference between Tokemak and OHM -
Tokemak allows quick and easy deployment of Liquidity to different AMM’s through their platform and single-sided staking of tokens.
OHM creates a market to buy LP tokens (Eth/ABC liquidity) for ABC tokens at a dynamic price.
Click here to read and vote on the proposal.
👉 Olympus DAO proposed to increase Eth allocation in order to target 33 % of Treasury RFV (Risk-free value from current 10%)
Initially, Olympus had 10% of Treasury RVF, now they’re proposing to increase to 33% of Treasury RVF.
Olympus treasury has accumulated over $150M of RFV (in the form of DAI, FRAX, and LUSD), $90m of which were collected last month. And increasing to 33% treasury RVF would mean accumulating around 50M$ of ETH in total, and the number will rise as Treasury RFV grows.
Note - Treasury RFV is a highly conservative metric: At the moment, the market value of Olympus DAO Treasury is $670m, $11m of which are reserve ETH. (The ETH term used in this proposal is wETH/ wrapped ETH).
Olympus has a goal of becoming a reserve and decentralized currency for DeFi and the world. To expand its treasury, Olympus needs to move away from an RFV-centric vision and increase its backing with suitable non-pegged assets. For example, Olympus owns ~16% of the total LUSD supply, which is beneficial for adopting decentralized assets and presents some risks (which were addressed by freezing LUSD bonds temporarily).
Olympus aims to serve ETH as the bedrock of treasury in the long term. An asset that is decentralized, free from regulatory pressures, and indispensable to the Ethereum blockchain
Click here to read and vote the proposal.
👉 Aave’s proposal on deploying strategies on sidechain other than the mainnet.
The follow-up proposal from Llama, as they proposed initial treasury strategy to productively deploy Aave’s treasury funds. The goal of this proposal is to know if the community would like to start implementing Aave strategies on each chain or on the mainnet only.
Aave has come up with two different strategies including its benefits and drawbacks so that community can vote for the one that fits Aave’s DAO preferences.
Option 1 - Build a strategy on each chain
Avoid rebalancing the treasury
Allow the DAO to diversify the yield
Diversify the risk with several protocols
Reduce gas costs
Sidechain security is lower than mainnet security
More protocols can increase the risk
Implementation is complicated with several AIPs
Option 2: Group all the reserve factors together and focus on mainnet strategies:
Easier implementation (less strategies, less AIPs)
Higher gas costs
Need to rebalance all RFs to Aave V2 periodically
Less yield opportunities
Click here to read and vote 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!
Coinshift aims to simplify crypto treasury management for Companies & DAOs - built using Gnosis Safe, IPFS & Filecoin.
Stay connected. Stay Awesome 🤘