mStableDAO Rebranding & Q3 Treasury Report

mZeroNine

Published in

mStable

3 min readOct 12, 2021

TL;DR

The mStableDAO has rebranded as the TreasuryDAO
The TreasuryDAO has released their first treasury report for Q3 ‘21
Anyone who has staked MTA in the new staking contract is now a part of the mStableDAO

Summary

As the mStable ecosystem is constantly growing and evolving, we wish to further decentralize aspects of the core infrastructure.

In order to set the groundwork for this, the mStableDAO will now be rebranded as the TreasuryDAO.

The reason for this rebranding is simple: The primary use-case for the DAOs in the ecosystem needs to be easy to understand for anyone in the space, old and new. So far, the mStableDAO name suggested that it is the primary DAO of mStable, and that all decisions ultimately run through this governing body.

Thus, we decided on a new naming convention that is suitable to the DAO’s scope, which is the custody of the mStable treasury and all of its operations on behalf of Meta Governors.

Decentralizing All The Things

In order to become a resilient and secure protocol, any single point of failure must be eliminated.

The rebranding does not affect the underlying governance structure of mStable.

The TreasuryDAO still governs the mStable treasury, takes care of all funding requests in the ecosystem, and custodies all LP positions. It does this on behalf of the stakeholders, with the help of smaller committees, which we have labeled subDAOs (Funding & Asset Management respectively).

The Way Forward

Keen readers and followers of the protocol might now ask the question of what should happen to the previous handle. We are redefining the mStableDAO as anyone who has staked MTA. If you’ve staked your Meta tokens in the new staking v2 contracts, you are now a part of the mStableDAO.

This change will enable the entire mStable ecosystem to be more decentralized, more effective, and most importantly, easier to navigate in the future.

Important steps will be taken (and subsequently put up to vote) in the coming weeks that will put more power in the hands of the entities that care about the protocol and its success. Metanauts will play a key role in the rollout of this new vision (See this blog post for more information).

Strength in Numbers

With the rebranding also comes our first quarterly treasury report from the TreasuryDAO, which we hope you’ll all enjoy.

In particular, one of the highlights is the amount of revenue we were able to generate with relatively little capital invested in our protocol, and the fact that 90% of all this revenue went back to users of the protocol, with the remaining 10% used to Buyback & Make a liquidity position on Balancer for the MTA token.

We intend to roll out additional mechanisms to accrue value to mStable in the coming weeks and months, so stay tuned!

Productivity Powerhouse & The Road Ahead

In closing, the TreasuryDAO has set itself the goal of being a trustworthy entity to manage the mStable protocol’s assets. We intend to show that having multiple DAOs and subDAOs can create a highly focused structure that will stay relevant.

For the next treasury reports, you can expect more detailed comparisons to previous performance, reporting on the performance of our liquidity positions in the Asset Management subDAO, and much more.

If you wish to contribute to this journey, then please reach out to us in the Discord, or you can always find us on the official forum, should there be a more lengthy topic to discuss.