Stake DAO (SDT)

Basics

• Started in / Announced on:
• Mainnet release: 21-1-2021
• From their going live blog post:

"Stake DAO removes the need to stake your assets across multiple platforms. We provide a simple solution for staking a variety of tokens all from one dashboard. Stake DAO users will be able to invest in NFTs used in systems such as Sorare, Axie Infinity or Cometh through the first NFT Hedge fund — BlackPool. Brand new concepts such as Social tokens will also be condensed into unique index funds, meaning users can easily gain exposure to the newest emerging digital economies."

History

• From Rekt (8-7-2021):

"The arrival of Stake DAO was not without its own drama. Yearn developers accused Julien of forking their protocol without adding anything of his own, leading to Julien being kicked out of several private group chats and further intensifying a feud that had been brewing for some time.

As soon as Stake DAO arrived, Yearn began to heavily promote their yveCRV vault on Twitter, and the race was on. During the period of January - March 2021, Yearn and Stake DAO were directly competing for CRV deposits. Each protocol was aggressively promoting their vaults and lobbying for CRV whales to deposit into their respective platforms.

When Yearn introduced the yveCRV<>ETH pool in early February, allowing users to withdraw from the backscratcher, this improved the deal and increased the competition, as users were no longer trapped in the strategy. Despite the fact that users could now withdraw their CRV, the vault still continued to grow, as Yearn used their partnership with SushiSwap to incentivise the yveCRV<>ETH pool, creating a boosted APY that increased the demand for yveCRV.

This improved UX forced Stake DAO to provide the same service, and a sdveCRV Balancer pool was released in May, with an 90/10 sdveCRV/CRV ratio, still incentivising users to lock their CRV, but also providing some exit liquidity for those who wished to unlock."

Token

Launch

• Had a botched airdrop of 1.5 million SDT tokens (1.5% of total SDT supply) on 21-1-2021. They planned to airdrop tokens to a long list of addresses that participated in governance in other projects, plus to subscribers of Rekt or donors to Gitcoin round 8. However, hundreds of eligible address holders were not able to claim tokens.

Utility

• From their blog (21-1-2021):

"SDT is the token of Stake DAO, earned by users who deposit their tokens into the DAO. SDT holders can then stake their earned SDT to receive a share of the DAO fees. The SDT token will also provide governance rights to the holder."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed here.
• Built on: "We support DeFi on all networks, not just Ethereum." see more under interoperability below.

• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Interoperability

• From their blog (21-1-2021):

"We support DeFi on all networks, not just Ethereum. Stake DAO also supports Polkadot, Solana and Near, with plans to add further networks in the future with features such as liquid staking and cross-chain bridges."

Governance

DAO

• From their blog (21-1-2021):

"SDT holders will be able to vote on topics such as adding a new token to the DAO or changing token distribution rates, or they can use their SDT to open a new vote, and propose other changes to the DAO."

• Raised some eyebrows when the team made changes without voting (19-4-2021):

"We have taken the decision to reduce emissions from 5 SDT per block to 4 SDT per block."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Competition

• yEarn, Convex and other yield optimizers.

Pros and Cons

Cons

• Had a botched airdrop of 1.5 million SDT tokens (1.5% of total SDT supply) on 21-1-2021. They planned to airdrop tokens to a long list of addresses that participated in governance in other projects, plus to subscribers of Rekt or donors to Gitcoin round 8. However, hundreds of eligible address holders were not able to claim tokens.
• Raised some eyebrows when the team made block reward changes without voting (19-4-2021).

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Does not have an official team, but is has contributions of a variety of different people from the space (22-1-2021). Some notables are people from Aave (Stani and others), Ledger, Web3 Foundation, Kr1,0xMaki and Julien Bouteloup.

(:

Knowledge empowers us all and will help us get closer to the decentralised world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31