Summary

Several updates are being worked on (such as the front end and back end upates), and more are soon to be worked on, including smart contract and other protocol updates that need to be audited so that we can be proactive regarding user and protocol security.

We want to allocate a budget specifically for Audits. The budget will cover more than 1 audit, and is a good start.

Motivation

We need to make sure that we prioritize security. With the FE & BE update and future improvements of the protocol, including Tribeca updates and full treasury deployment, we should and need to audit everything. Safety first!

Expectations:

• Improve the security and trust in Saber
• Comfortably work with the treasury on-chain
• Show the DAO and the Solana ecosystem, that the DAO and its leadership takes security seriously.
• The DAO can work with security in a proactive manner.

Actions

Allocate $50,000 from the SaberDAO treasury for Audits.

Summary

This proposal is to put $2 million USDC from the treasury in the USDC-USDT pool.

Motivation

There have been quite some discussions on how the treasury can be put to use in the best way, where the DAO can participate in the Saber wars via the USDC-USDT pool and some starting amount of locked SBR. However, due to a lot of manual things required (like weekly voting by the council members) the discussion stalled a bit. However, the first step (putting USDC in the LP) is still very valuable for the DAO, even without voting.

The USDC-USDT pool regularly achieves over 60% APY and it makes sense for the DAO to capitalise on it.

Actions

• Swap $1M USDC to USDT (this is better to do via eg Jup, so other liquidity sources can be used too, instead of directly putting all USDC in the pool making it super unbalanced)
• Put $1M USDC and 1M USDT in the USDC-USDT pool
• Stake the LP tokens

This proposal was brought forth by icebeaver in the in-discord DAO forum

Summary

icebeaver suggest that the DAO consider changing the weights for LP fees distribution to 1:1 ratio between the LP providers and veSBR holders setting the LP fees to the following parameters given the Trade fee:

Total fee = [Fee allocation to LP providers] * 0.5 + [Fee allocation to veSBR holders] * 0.5

This being said, the current 0.01% fee applicable to most pools (with exclusion to USDH-USDC LP) after the revamp would look as follows: 0.005% attributable to LP Providers, 0.005% attributable to veSBR holders.

Motivation

Several major outcomes could be underlined from that change:

• SaberDAO will receive a constant inflow of funds for its growth and stakeholder's compensation proportional to its trading volume;
  Example:
  According to Dune dashboard (ref. https://dune.com/0xpibs/saberdao), 24h cumulative volume on Saber is $6,322,402 as of 08.01.2024. Given this number, Implied annualized volume would result in approx. $2,307,676,730 generating $230,767.6 worth of profits. I will use this number further on for illustrative purpuses. If the proposal gets approved, SaberDAO will receive $115,383 of inflows given the volume persists at a constant.

• This would result in a healthier tokenomics for the protocol since LP providers are incentivized with SBR allocation, therefore their SBR allocation could be staked maximizing performance for LP providers and creating value for veSBR holders, as a consequence the proportion of SBR tokens staked would likely increase as well.

• Moreover, this change is aligned with the Vote-Markets protocol (hereinafter, VMP) proposal in a way that VMP participants would be financially incentivized to maximize their stake of veSBR.

• As a downside, LP Providers would be affected due to lower fees earned.
  However, the current state of SBR token emissions looks as the following: 1,000,000.0 SBR is emitted per day, meaning 365,000,000.0 SBR token emissions per year, hence the current dilution rate is 16.38% which greatly exceeds the protocol's implied profit margins attributable to veSBR token holders ROE[veSBR] = 115,383.8/(11,954,688.95-4,099,917.6) = 1.46%. In the end, this means that LP providers are receiving a share of fee-accruing token that would benefit every participant in the long run.

Current number of staked tokens is relatively low, having only 771,389,852/2,229,903,029 = 34.59% of the total supply being staked. Fee redistributions would incentivize DAO participance.

Actions

Changing the weights for LP fees distribution to 1:1 ratio between the LP providers and veSBR holders setting the LP fees to the following parameters given the Trade fee:

Total fee = [Fee allocation to LP providers] * 0.5 + [Fee allocation to veSBR holders] * 0.5

This being said, the current 0.01% fee applicable to most pools (with exclusion to USDH-USDC LP) after the revamp would look as follows: 0.005% attributable to LP Providers, 0.005% attributable to veSBR holders.

Summary

Saber to migrate its tokenomics to Lifinity's ve model to benefit from its improved design (proposed by Durden @durdenwannabe) and changing the weights for LP fee distribution to a 1:1 ratio between LPs and veSBR holders (proposed by @icebeaver_sol)

VE/X MODEL (@durdenwannabe)

・Fork Lifinity's ve program and modify it to make it seamlessly integrate with the vote market protocol
・Modify the existing ve program by adding an instruction to migrate to the new program
・Create a tool for users to migrate their existing veSBR to the new program
・Integrate the migration tool into one of Saber's existing sites
・Lifinity's code for the site for performing all the ve functions (display balances, locking and unlocking, deposits and withdrawals, conversions between xSBR and veSBR) will be modified to match Saber
・All of the code will be made open source

The changes to veSBR that this migration would entail are:

・veSBR would only begin unlocking when you tell it to, rather than the current model where it is always unlocking and you cannot keep it in a locked state
・veSBR would gradually unlock the SBR it contains, rather than unlock all at once at the very end of the lock period
・Max locked veSBR would be convertible to xSBR – a tokenized and tradeable version of veSBR

The concrete benefits this provides for veSBR holders are:

・You no longer need to keep relocking your SBR to maintain the maximum voting power achievable; it conveniently stays max locked by default
・Instead of brutal unlock periods in which lockers get no access to their SBR even as their veSBR balance gradually decays, your SBR is always either unlocked (i.e. withdrawable) or locked for the full voting power it was initially locked for
・Liquidity for max locked veSBR, which creates a market price for early exits and discounted entries for those looking to compound
・The above benefits are likely to make holders who are currently hesitant to participate in governance more willing to lock their SBR

Budget request for ve/x update:

45,000 USDC

LP FEE DISTRIBUTION TO veSBR (@icebeaver_sol)

Changing the weights for LP fee distribution to a 1:1 ratio between LPs and veSBR holders, setting LP fees to the following parameters given the trading fee:

Total fee = [Fee allocation to LP providers] * 0.5 + [Fee allocation to veSBR holders] * 0.5

After the revamp, the current 0.01% fee applicable to most pools (excluding USDH-USDC) would be as follows: 0.005% attributable to LP Providers, 0.005% attributable to veSBR holders.

Budget request for Saber LP fee distribution

20,000 USDC

Final notes:

This ve/x + fee update project will be led by @durdenwannabe and developers involved is @binyebarwe and @skrrb1

Dev time will be approx 2-3 months.

Total budget request:

65,000 USDC

To be sent to H6SjJMKV2wL19AUYT5SYUq8UGvQ5mnmz7tkjgF2MuXRo

Summary

The Meteora team would like to propose the raise of the minimum Saber LP Fee from 0.001% (0.1bp) to 0.01% (1bp) across all pools.

Motivation

Currently, the minimum fees for pools are set at a very low 0.001% fee which is almost close to no fees, in a bid to facilitate volume. However, this is not a long-term model as it delivers almost no value to both Saber and liquidity providers of pools that have 0.001% fees.

In order to build a sustainable protocol, liquidity providers need to earn a sustainable yield to be incentivized to continue to provide liquidity and facilitate TVL and volume on Saber.

Here is a comparison of 0.001% fees vs 0.01% fees:
At 0.001% fees (based on current TVL and 24h volume), APY of USDT-USDC (1,939,171 TVL and 2,015,885 24H volume): 0.379%

At 0.01% fees (assuming volume remains consistent after fee raise), APY of USDT-USDC: 3.79%
With the new APY numbers, it is much more attractive and sustainable for LPs to deposit their liquidity in these pools instead of elsewhere.

A minimum swap fee of 0.01% is still very competitive compared to the average swap fees of other DEXes and CEXes.

Actions

Raising the minimum swap fees to 0.01% across all pools will definitely boost the value to users providing liquidity and Saber. By charging sustainable fees, we can help kick-start a healthier Solana ecosystem where protocols can support themselves and focus their efforts on building technology.

Summary

• Issue a budget of $25,000 for dev grants to update the frontend and backend of the Saber app. If approved, the project should be done in approx. 2 months.

Motivation

• The front end needs an update and some of the backend aka infra, needs to be updated as well to be fully up to date with all new Solana features. This serves as a great opportunity for the DAO to take more lead in the development of Saber in the new SaberDAO chapter.
• I've found 2 talented developers for FE and BE respectively (Rockooor and dev4all AKA Keisuke) that will be able to start working on this project immediately if the proposal passes.

Actions

• Allocate $25,000 from the treasury that will be used to pay for developers to update the FE- and BE.
• Overview of scope of FE- and BE dev work https://hackmd.io/@rockooor/SkIOQzwBT

Expectations/impact

• Greatly improve UX and UI for both LPs, swappers, and DAO - participants
• Set a solid foundation for future app updates both FE- and BE-wise
• Shows to the broader Solana Ecosystem that the SaberDAO revamp is alive and kicking

Summary

This proposal is for Saber DAO to acquire LP Finance Protocol to seamlessly integrate Saber LP tokens and further develop new synthetics (zUSD, zETH).

The goal of this proposal is to expand Saber’s user base, improve liquidity inflow, and more utilities for end users.

The deal is as follows

• 70,000 USDC and 2.35M SBR (2 years linear vested) transferred to LP Finance Labs
• Eric Lee (Founder) joins as a contributor at Saber DAO as a project lead (“Development Plans After Acquisition”)(Wage can be discussed in future proposal)
• LP Finance frontend and rust engineer joins full-time for integration and Saber's product development (Frontend: $1,000/month, Rust Engineer: $6,400/month). Full-time work for Saber's product development persists until a proposal for hiring Saber's developers is passed.
• Full ownership of the existing zSOL protocol and resources are transferred to Saber DAO
• Rebrand zSOL protocol frontend to Saber

Motivation

• zSOL protocol integrates Saber zSOL-SOL LP tokens as an “LP Incentives” token (more info on https://docs.lp.finance/protocol/zsol-sol-liquidity-providers), which allows users to supply zSOL-SOL liquidity on Saber and earn interest/stability fees paid by zSOL borrowers.
• Saber has sufficient liquidity in mSOL-SOL, stSOL-SOL stable pools, which can be added as collateral on zSOL protocol (these collaterals can be utilized on Quarry to earn extra yields)
• In case we develop a new synthetic asset (zUSD, zETH, or any stable pairs on Saber with sufficient liquidity), it can be developed without extra effort if integrating Saber’s LPs as the existing zSOL protocol does
• Saber can directly benefit from extra liquidity inflow by allowing users to leverage Saber LP positions with LP Finance

Actions

• Transfer 70,000 USDC to 7KDQhb9KX8y9rkrtyAw4arkRVctGhaRhaUMCadfg4bEk
• Setup 2.35M SBR vesting contract for 2 years (linear unlock) to 7KDQhb9KX8y9rkrtyAw4arkRVctGhaRhaUMCadfg4bEk

Summary

A detailed description of what should be done. Ex. Increase Saber DAO fees to 1bp.

Motivation

Why should the DAO vote for this proposal? Ex. The DAO could make more revenue since stakers are inelastic to fees.

Actions

(optional) A clear and concise description of the on-chain actions that should be taken. Ex. Set fees on pool manager to 1bp.

Summary

This is a proposal from the Hubble Protocol team to raise the Saber USDH - USDC LP Fee from 0.001% (0.1bp) to 0.04% (4bp).

Motivation

The primary reason for doing so is to ensure that the liquidity providers for the pool earns a sustainable yield, so they continue to provide liquidity, and continue to facilitate TVL and volume for Saber.

At present, the USDH - USDC Pool has a $816,343 TVL with $342,808 24h volume, delivering a 0.15339% APY.

This implies a yearly fee income of $1,252 for the entire pool, with a fee set to 0.001%.

Assuming that volume remains consistent after a fee raise, increasing fees by 40x to 0.04 translates to a 6.1356% APY.

A balance needs to be struck between providing a good user experience, and protocol sustainability. Having virtually no fees on a pool may facilitate volume, but ultimately it delivers almost no value to Saber itself, nor to users who provide liquidity to Saber.

Even a trading volume decrease will still leave Saber, and USDH LP providers earning more fees than at present. Saber is a strategic liquidity venue for USDH, and will continue to be incentivized by emissions due to Hubble's SBR treasury votes, in order to continue to boost pool attractiveness & TVL.

Hubble aims to deliver value to USDH holders, and the USDH-USDC Saber Pool is a key area for doing so. Raising the fee will play a significant part in adding value to users, as well as Saber itself.

Summary

As everyone knows, Saber is built to be the Curve.fi of Solana. On Ethereum, Curve has more than one so-called “bribe protocol” or “vote-markets” protocols built on top of it, such as Convex, Votium, and Hidden Hand. One of the missing parts of the Saber DeFi model in my opinion is what was previously known as Sunny - A so-called bribe protocol. This proposal is about that, to request funds from the DAO treasury so that a new bribe- AKA votes market protocol can be built.

Interestingly enough, Solana does not even have a single vote-markets protocol. Therefore I have taken the initiative to see this through, for the benefit of Saber and SBR (veSBR) and the broader Solana DeFi ecosystem, and I’ve spoken with several different parties within the Solana community to create a cohort, or alliance, to make sure that Solana has a protocol that can serve this function, not only for Saber, but also for the whole Solana DeFi ecosystem

Each of the members of this cohort is providing any of the following

• Grant funds
• Developer resources
• DeFi expertise and knowledge

In this cohort we have the following teams/projects participating, and will provide as described:

• SaberDAO: Grant funds + cohort coordination
• UXD Protocol: Grant funds + tech review https://uxd.fi/
• SolBlaze: Grant funds + tech review https://solblaze.org/
• MetaDAO: Development, management, and ownership. https://themetadao.org/

Motivation

Recognizing Solana's lack of a vote-markets protocol, SaberDAO, UXD Protocol, SolBlaze, and MetaDAO have initiated a collaborative effort to see this through.

Each participant contributes grant funds, developer resources, or expertise.

SaberDAO, UXD protocol, and SolBlaze are providing $50,000 each, creating a total grant of $150,000 which will see to both building the Votes-markets protocol starting with supporting SBR/veSBR, and for future integrations, updates, new integrations, and maintenance.

MetaDAO, known for its innovative governance approach, will receive the full grant and oversee the development and ownership of the new "Votes-Market" protocol.

The decision to create it as a standalone protocol with its own token, benefiting the entire cohort and the broader Solana DeFi ecosystem, reflects a collective commitment to its success. The protocol's operation and maintenance will be entrusted to MetaDAO, with token shares distributed among the participating DAOs.

This is the token distribution plan:

74%: Liquidity mining
21%: 7% SolBlaze DAO, 7% UXD Protocol DAO, 7% SaberDAO
5%: Individual contributors to the new votesmarket/bribe protocol.

Please note that the intention for the SaberDAO allocation is to fully distribute it to all veSBR token holders.

MetaDAO has had a governance vote on the matter, and it passed, making us ready to vote on allocating funds for a grant to MetaDAO to build this votes markets protocol. You can read about the details of the MetaDAOs proposal here: https://hackmd.io/@jlPYU3_dTOuQkU5duRNUlg/rkhWWXjLp

Expectations

• Increase the utility of SBR and veSBR
• Expand the Saber pools use-case in DeFi
• Get one of the last parts of the Curve model puzzle in place for Saber.
• Improve Solanas DeFi ecosystem with a votes-market protocol AKA bribe protocol
• Propel collaborative DAO initiatives together with the cohort of participants in this endeavor and set an example for the rest of the Solana DAO ecosystem.
• SaberDAO receives a 7% share of the new vote-markets protocol’s tokens total supply, where the intention is to distribute the allocation to veSBR token holders.

Actions

• Allocate a total of $50,000 from the DAO treasury to pool a grant together with 2 other parties, which will total the grant at $150,000. The funds will be used to fund the development and future management of a vote-markets/bribe protocol on Solana. Other participants in this grant pool is UXD protocol and SolBlaze.
• The SaberDAO receives 7% of the token supply from the token of the Votes Markets protocol.

Summary

As we are moving forward into 2024, and with the other existing proposals soon to be voted on I think it is time to request an 30M SBR token allocation for marketing and promotion purposes for SaberDAO, which the DAO leadership can use at their discretion to promote Saber to the broader Solana community.

The allocation will be used by the DAO leadership, at their discretion, however, any appliance of SBR tokens from this 30M SBR token budget, will be done in accordance with the DAO members… or in other words, we’ll discuss this with the DAO in the DAO forum before making a move.

Motivation

We will ramp up marketing and promotions to increase the use of the Saber protocol by the Solana community and ecosystem, and therefore we want to create specific promotion campaigns and align incentives with other DeFi protocols and their users, utilizing the SBR token. This should improve the attention aspect of SaberDAO, and help with increasing our userbase and DAO member count.

Expectations

• SaberDAO will be able to align incentives with other DeFi protocols in the Solana DeFi ecosystem.
• SaberDAO leadership will be able to have a smooth approach and create interesting marketing and promotion campaigns more efficiently, vs. announcing and doing a on-chain vote for each single marketing campaign.
• SaberDAO will be able to work with the attention market more efficiently.
• SaberDAO will increase the DAO membership count.

Actions

• Allocate 30M SBR tokens from the DAO treasury for marketing and promotions.

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This proposal was brought forth by DonDuala Dual Finance in the in-discord DAO forum

Summary

Proposal for the Saber DAO to overhaul its token emissions and re-allocate its remaining Mining Reserve to be issued in options, not tokens.

The proposed implementation of LP Staking Options (SOs) is 1 month expirations with at-the-money strikes. At the beginning of each month a new option will be configured based on the price at that time. Users will accrue SOs in proportion to the time and quantity they are staked as before. Gauge Weight Voting will allocate SOs in 2x the proportion as with normal token emissions. Effectively for every 1 SBR token previously earned, Users will earn 2x a 1 month call option to buy SBR at the price from the beginning of the month.

Motivation

Overhaul its token emissions and re-allocate its remaining Mining Reserve to be issued in options, not tokens. The goal of this overhaul of incentives is to revitalize the Saber token economy and disrupt the negative cycle of inflationary incentives.

For being an early partner and user of Staking Options, Dual Finance will issue a grant to the Saber treasury of 5M DUAL 3 month Staking Options with a strike of $0.5.

Actions

The proposed implementation of LP Staking Options (SOs) is 1 month expirations with at-the-money strikes. At the beginning of each month a new option will be configured based on the price at that time. Users will accrue SOs in proportion to the time and quantity they are staked as before. Gauge Weight Voting will allocate SOs in 2x the proportion as with normal token emissions. Effectively for every 1 SBR token previously earned, Users will earn 2x a 1 month call option to buy SBR at the price from the beginning of the month.

Users can view and exercise these Staking Options at anytime by going to https://beta.dual.finance/balance and paying the exercise amount (strike price * quantity) in USDC. All exercise proceeds minus a 3.5% fee go to the Saber Treasury for the community to grow the Saber ecosystem.

Summary

For the continuation of the SaberDAO revival story, the efforts have to be expanded and the DAO needs the capability to see things through and have active contributors pushing the protocol forward. Therefore, a new organizational setup where I (c2yptic) is not leading SaberDAO anymore, but the DAO and protocol operations will be led by a cohort of people and these people need to get compensated to be able to work in a meaningful way.

Motivation

New organisation suggestion

SaberDAO can not have just one guy who pulls the strings, moving forward we want to enable the contributors to take full charge of SaberDAOs future.

The dApp needs long-term developer support, but for the Saber Wars to really reignite, we need to see to the communications and business development side of things.

With the involved contributors, I suggest structuring the Organisation for the next 12 months as stated below. Please note that I can personally vouch for all of the people mentioned:

3 DAO Working Groups

• Operations: manage wip projects, manage new projects, products, dev, finances, BD)
  The Operations will be led by: Rockoor, JS and J.Lee, supported c2yptic(me) who is now taking a more advisory and guiding role.
• Community: Graphic design, discord moderators, socials):
• Community Council: Veto power on proposals based on a council vote (through a socially enforced mechanism in the short term), before or after. Guardians of the DAO.

This makes sure that the DAO has a group of active contributors willing and motivated to actively push the protocol forward in all necessary directions, and with a community council we ensure that the ethos of the DAO stays intact.

For these 3 working groups to work efficiently, with a fair long-term alignment, we need to compensate in both USDC and SBR. (This proposal is about operational expenses, ie. USDC. The SBR long term alignment will be handled in a separate proposal)

• Total working group 12-month budget USDC: 320,000 - To be managed by the DAO Ops Leads.

Actions

Issue 320,000 USDC to SaberDAO Ops Mutisig wallet: C8vvHyFKiuAqdugpVtrALV8iS1smPsb4NzPrpNjP5Qpn

Summary

This proposal is about removing the withdrawal fee of 0.5% on the USDC/USDT pool https://saber.markets/#/pools/YAkoNb6HKmSxQN9L8hiBE5tPJRsniSSMzND1boHmZxe

Motivation

The USDC/USDT pool has a 0.5% withdrawal fee. Discussions in the DAO point out that this is not necessary, provides a bad UX and keeps new LPs away and for this reason this fee ought to be removed to make the LP experience better.

Worth noting is that the withdrawal fees have accumulated $348K to the DAO treasury since the pool was created. https://explorer.solana.com/address/XZuQG7CQrAA6y6tHM9CLrDjDUWwuUU2SBoV7pLaGDQT?cluster=mainnet-beta

Actions

Remove the 0.5% withdrawal fee from the USDC/USDT pool and set the fee to 0.

## Summary

This proposal aims to form the first SaberDAO operations budget of $5,000 per month for the next 6 months.

## Motivation

With a large DAO treasury of more than $4M in USDT and USDC, I propose that we create a small budget for DAO operations so that we are able to scale up and increase our time spend and efforts with the SaberDAO revival, and onboard more active contributors and compensate them for their work. Additionally, we're able to pay for certain tools needed for discord management such as a custom build for token gating based on veSBR.

Therefore I propose we set a small monthly budget of $5,000 to cover regular operations expenses. This also makes me able to create the first SaberDAO contributor team, which would help the SaberDAO reach a larger audience both within the DAO and within the larger Solana community. Additionally, this helps me delegate some responsibilities to others which helps me handle the workload related to SaberDAO. This budget would cover management of (but not only):

• Twitter/socials management
• Design assets for socials and the FE/app.
• Discord management
• DAO operations management
• User support

The budget will cover each month for the next period of 6 months. The total budget would be $30,000 for this time period.

This topic have been discussed at length and in detail in the in-discord DAO forum - Head over to our discord to join the conversation there as well!

Summary

This proposal is for the approval of Skynet Trading to act as official SBR market maker.

Read on Skynet Trading here: https://skynettrading.com/

• Loan SkyNet trading 100M SBR for market making purposes on CEXs.
• Authorize Skynet Trading as an official SBR market-maker.
• Skynet Trading will commit to providing SBR liquidity on the following platforms: Kraken, Gate.

More trading venues might be added when new listings of SBR occur. Coverage for new exchanges is upon Skynet Trading’s suggestions and the DAO management's approval.

Skynet Trading agrees to either return the full 100M SBR of the loan amount at the end of the 12 month contract period, OR exercise the option to purchase the SBR token amount specified below on the respective option expiry date.

TWAP based strike price in tranches of 1/2 of the token loan amount.

Should Skynet Trading choose to (partially) exercise their SBR option, the loan balance will be returned to the Saber treasury in the form of USDT.

Motivation

Currently, the liquidity for SBR is very low, causing hefty volatility upon bigger buys and sells, making it difficult for people of larger sizes to get onboard the SaberDAO mission.

The volatility also causes greatly volatility APY% in from the liquidity mining emissions in the Saber Gauges, making it difficult for liquidity providers to evaluate longer term impacts on their liquidity provision strategies.

Actions

Skynet trading would loan 100M SBR tokens for a 12M period.

Skynet will provide MM on 2 CEXs. (gate.io and Kraken)

Skynet Trading agrees to either return the full 100M SBR of the loan amount at the end of the 12 month contract period, OR exercise the option to purchase the SBR token amount specified below on the respective option expiry date.

Tokens would be emitted from the SaberDAO treasury.

Upon passing the proposal; 100M SBR tokens will be issued to SaberDAO Ops multisig wallet: C8vvHyFKiuAqdugpVtrALV8iS1smPsb4NzPrpNjP5Qpn

SaberDAO management contributors will issue the SBR tokens from the DaberDAO Ops Multisig Wallet, once the contract have been signed with Skynet Trading.

Summary

I’ve been in touch with MIDAO (https://www.midao.org/) who is an organization that helps DAOs set up the necessary legal entities in the Marshall Islands. They’ve provided me with the relevant information that makes the case look solid and secure for the DAO and future DAO operations. Looking at their pricing, the “Diamond package” is the most suitable for the SaberDAO (https://www.midao.org/pricing)

The costs are;
Setup cost: 9,500 (including the first year of running costs)
Buffer: 500

Total 10,000 USD

This would see to the DAO having the entity up and running sometime in February, and we’ll be able to cover the running costs until January 2025.

Motivation

The DAO needs a legal entity for many reasons not needed to state. After exploring multiple options, I have concluded that the best path forward for this is to create a legal entity on the Marshall Islands.

Expectations

• SaberDAO will operate under a legal DAO entity
• SaberDAO will (hopefully) inspire other DAOs to take this route
• SaberDAO will be able to operate more smoothly, within an improved legal framework

Actions

Allocate 10,000 USD from the DAO treasury to set up a legal entity for the DAO, which gives the DAO a legal entity until January 2025 (before Jan 2025, we will have to vote to allocate additional funds from the treasury to continue with the legal entity to pay for the next period of 2025)

Note: submitting a pull request will get your asset listed significantly faster. Only use this if you are not capable of using GitHub.

Asset address

The "mint" address of the coin to list, e.g.

3yN3xNcXxbhkZYC6MXak1f7Ff29BZdGyc4GUQ1jbyt27

Minting Instructions

One can mint our token by swapping coins created on the market pool which will be available on the saber platform with respect to SOL coin

Project Information

Who are the auditors of your protocol?

We are right now in the process of getting our auditors of entire platform and at the same time our coin protocol

What is the name of your protocol?

We have created a FRO token on the Solana blockchain using the ERC20 protocol.

What is your project's website?

https://nft.frolic.live/

What are the risks involved in listing this asset?

https://nft.frolic.live/risk

Please share a logo/icon of your project.

https://www.frolicx0.de/public/assets/pngs/logo.png

Asset Information

Is there a CoinGecko link? If so, please provide it below.

What pairs would you see this being traded against? E.g. if this is a dollar stablecoin, enter "USDC".

SOL

Checklist

Before submitting this pull request, please ensure you have done the following:

• The token has been successfully merged to the official Solana Labs token list.

Note: submitting a pull request will get your asset listed significantly faster. Only use this if you are not capable of using GitHub.

Asset address

The "mint" address of the coin to list, e.g.

4VJnE3E14BxUiMgRUFdys4oXqQbB4Spm6nJfWWcJYfJd

Minting Instructions

A fun dragon hunting game

Project Information

Who are the auditors of your protocol?

https://twitter.com/xlong_sol

What is the name of your protocol?

SPL20

What is your project's website?

https://xlong.io

What are the risks involved in listing this asset?

no

Please share a logo/icon of your project.

https://xlong.io

Asset Information

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SOL

Checklist

Before submitting this pull request, please ensure you have done the following:

• The token has been successfully merged to the official Solana Labs token list.

Summary

SaberDAO is alive today due to the active members in the SaberDAO discord, the DAO operations guys, the council, the DAO role holders, and those voting. Without these people contributing to the DAO revival, SaberDAO would not have happened. It is of my strong conviction that the DAO has a huge upside in aligning the long-term incentives with those who revived it.

I think we have a great opportunity now, with the revival aspect, to set a good tone in DAO community alignment using the DAO governance token to ‘invest' in the community in connection to a unique event. The DAO should want to make sure that the ‘revival community and contributors' stay active in the DAO in the longer term, and continue to contribute to the DAOs success.

Motivation

I, therefore, suggest an SBR allocation to all contributors and active DAO members, so that we ensure to make community participation more meaningful and impactful in the long term as the active core community who revived the protocol would have more of an impact in guiding the DAO forward.

Total 3.11% of total supply (311M SBR) spread as follows:

2.71% Contributors and council
0.4% DAO role holders + DAO Revival chapter 1 voters

These retroactive allocations would be allocated in veSBR with a 2-year lockup period - ensuring the long-term alignment and an immediate more impactful community seat in the DAO governance.

Expected outcome

• Contributor DAO long-term incentive alignment
• Community long-term incentive alignment
• Stimulate the Saber ecosystem with more active working veSBR
• Recognition to the community for the DAO revival

Lastly, I would like to put forth that everyone who helped the DAO revival did so with no expectation of payment, but did so pure heartedly with the intention of just helping out. This is to me honorable on a level that is rarely seen. Let's reward the DAO revivors - But first, lets chat about this and hear peoples opinions and perspectives before we push this to a on-chain vote.

Actions

Mint 311M SBR tokens from the treasury and send to wallet H6SjJMKV2wL19AUYT5SYUq8UGvQ5mnmz7tkjgF2MuXRo , which will distribute the amounts: 2.71% Contributors and council & 0.4% DAO role holders + DAO Revival chapter 1 voters

This proposal was brought forth in collaboration with SolBlaze in the in-discord DAO forum

Summary

Everyone seems to be well acquainted with Pyth Network after the airdrop, but here is a quick rundown: Pyth is the Chainlink of Solana - Pyth delivers real-time market data for crypto, equities, FX, and commodities to 45+ blockchains. 95+ major market participants — including Jane Street, CBOE, Binance, OKX, and Bybit — contribute data to the network.

We got in touch with Pyth who are keen to partner with SaberDAO where Saber would be data publishers to PythNet.

Pyth has a 6-month program that started in November 2023, running until May 2024, where Pyth publishers automatically accrue PYTH token rewards for publishing prices to the Pyth oracle/PythNet. Pyth publishers will have the opportunity to claim the rewards on a monthly basis, based on how much data each provider published. This makes a partnership with Pyth a profitable endeavor as per our estimations.

Motivation

We will have to host our own validator on the PythNet, which will come at $500/month for the first 5 months while we publish data on PythNet’s Devnet environment and $1500/month when we start publishing data on PythNets Mainnet, which is expected to be started in May 2024.

We anticipate that the governance influence gained through PYTH rewards will significantly outweigh the costs, making this endeavor highly valuable to SaberDAO.

One of our contributors and community council members, SolBlaze , has offered his help handling this project for the SaberDAO - So we already have the hands-on resources needed to see this through.

I think that this is a great opportunity for SaberDAO to consolidate as a DAO that brings a meaningful impact on Solana, helping not only SaberDAO’s revival but also helping Solana with better infrastructure, and it will as per our estimations, create an extra income source for the DAO.

Please note that if the DAO does not see this turning out well for Saber, we can stop this project at any time through the DAO governance process.

Expectations

• Demonstrates the SaberDAO's commitment to the Solana ecosystem.
• Strengthens Solana's DeFi infrastructure resilience, including price oracles.
• Adds PYTH governance tokens to the SaberDAO treasury.

Actions

Form a partnership with Pyth Network and allocate a total of $25,000 to the partnership with Pyth to help the Solana infrastructure become more resilient, by becoming data publishers to PythNet. Budget broken down as follows:

Dec 23 - May 24: $500/month, totaling: $3000
May 24 - Dec 24: $1500/month, totaling $12,000
Project management costs for 2024; $500/month, totaling $6000
Allocate $4000 worth of SBR tokens to SolBlaze for the development work (Based on 40h work, at $100/h)

Summary

A detailed description of what should be done. Ex. Increase Saber DAO fees to 1bp.

Motivation

Why should the DAO vote for this proposal? Ex. The DAO could make more revenue since stakers are inelastic to fees.

Actions

(optional) A clear and concise description of the on-chain actions that should be taken. Ex. Set fees on pool manager to 1bp.

Summary

issue 97,430,716 SBR from the Partnership & ecosystem allocation to @simplyianm's wallet in line with the sunSBR solution https://tribeca.so/gov/sbr/proposals/43

Motivation

Required to perform a previously approved DAO proposal

Actions

• Issue 97,430,716 SBR to a wallet controlled by @simplyianm (F4VFp4tFTyrQWo9YVjCbPE5eQP27ice2zyGDp2tN2Rkm)
• Later, this SBR will be sent to Openbook to buy sunSBR 1:1

Summary

Discussion here: https://discord.com/channels/835104494421016586/1220256829641068664

Currently the gauges emit 1M SBR per day, we should experiment with a lower amount of emissions. This decreases sell pressure on the token, but also reduces the APY from SBR emissions. However as the SBR emission APY is mostly on UXD and greatly above ecosystem rate, at this point in time the higher-than-average APY does not lead to more liquidity in the gauge, meaning we should be able to safely lower the emission rate.

Actions

Reduce the daily emission of SBR from 1M SBR per day to 500K SBR per day.

Summary

Discussion here: https://discord.com/channels/835104494421016586/1220343074253705296/1220343074253705296

As previously discussed multiple times, we are aware that some token data & project links are outdated across various DEX analysis platforms. In order to sort this issue, I propose below plan and budget to update these information so that all token metrics, as well as associated social links such as Discord and Twitter are getting correctly updated.

Proposed Action:

The proposal entails updating token details and social links on the following platforms:

Dexscreener: https://dexscreener.com/
i.e.: https://dexscreener.com/solana/hiyggjp2fn53jw46e5uuskqnp3hh98jcerxegvoerwnw

Birdeye: https://birdeye.so/
i.e.: https://birdeye.so/token/Saber2gLauYim4Mvftnrasomsv6NvAuncvMEZwcLpD1?chain=solana

Dextools: https://www.dextools.io/
i.e.: https://www.dextools.io/app/en/solana/pair-explorer/HiYggjP2fN53Jw46e5UuskqNP3HH98jceRxEgVoeRwNw?t=1711016685265

Impact:

Upon completion of these updates, all token details and associated social links will be correct. This will help to provide an accurate overview of the SBR token and will make it easier for interested users to find the correct social media profiles and all other Saber DAO related links.

Costs ### Overview:

The expenses for updating information on the mentioned platforms are as follows:

Dexscreener: $299
Birdeye: $300
Dextools: 6 SOL (current exchange rate: 1 SOL = $187, approx. $1122. To accommodate potential fluctuations of the SOL price, I added a little buffer; amount = $1200).

Total: $1799

Timeline:

Once all links are available, I will promptly submit the necessary updates to the above mentioned platforms. Typically, these updates are processed within 3-5 business days. Will update here once live.

Wallet:

2s9mUBkwftyocsRsjAzzMuZaM5f9YWn9mSDM6TQHrvKF

TLDR

I am asking the DAO to send the amount of 1799 USDC from the Saber DAO treasury to my personal wallet to pay the update-services from above mentioned platforms.

Summary

I propose to remove pools from Saber gauges votes/Quarry that involves assets that are exploited or involved in non-functioning protocols. The list of pools are as follows.

• USDC - fUSD (Fabric: Non-functioning)
• USN - USDC (DecentralBank: Deprecating)
• NIRV - USDC (Nirvana: Exploited)
• calUSD - USDC (Calcifer: Non-functioning)
• pBTC - renBTC (Parrot: Non-functioning)
• xLUNA - LUNA (Synthetify: Deprecated)
• pSOL - prtSOL (Parrot: Non-functioning)
• NIRV - USDH (Nirvana: Exploited)
• NIRV - USDT (Nirvana: Exploited)

Motivation

Previously, Saber has deprecated pools from gauges that involve exploited assets (UST, CASH) or deprecated/non-functioning protocols (Wormhole _v1 tokens).

If these gauges are not removed, users tend to set a strategy to provide huge liquidity and vote for those pools to solely earn SBR yields. Once other users buy in and add liquidity, the initial depositer removes liquidity and sell assets at a huge profit and move onto other pools involving exploited tokens to repeat.

We have seen this happen with USDC-fUSD pool, which currently holds 1.97% of voting power. To protect Saber users and maintain the protocol safe, it is cruicial to remove the pools mentioned above.

Below is the price action of fUSD regarding Saber's gauge votes.

Actions

Remove following pools from Saber gauges and Quarry.

• USDC - fUSD (Fabric: Non-functioning)
• USN - USDC (DecentralBank: Deprecating)
• NIRV - USDC (Nirvana: Exploited)
• calUSD - USDC (Calcifer: Non-functioning)
• pBTC - renBTC (Parrot: Non-functioning)
• xLUNA - LUNA (Synthetify: Deprecated)
• pSOL - prtSOL (Parrot: Non-functioning)
• NIRV - USDH (Nirvana: Exploited)
• NIRV - USDT (Nirvana: Exploited)

Summary

Hello everyone im yasinaktimur we are early SBR investors and 1 years ago we earn millions of dollars from saber. In this bullrun we wanna make saber great again.

We will use this budget for marketing and we collect all stable coin stakers to saber.

Motivation

Marketing and in real life connections is important we will do all this collabs and with this collabs SBR will use different places too lending platforms and games. I know every people in solana community.

Actions

250.000 usd to -> this solana address PBgDvMjy2W5BYmDQrCEZrXK8uMnDNyUScSNL37LLmJZ

Hey everyone,

Sunny is a DeFi yield aggregator built on top of Saber, and its main purpose was to build value around Saber Ecosystem with Saber wars, so everyone who believed in Saber team and Saber Ecosystem locked their SBR tokens in Sunny(yiSunSBR) for sunSBR (mostly retail, -%95 loss). Unfortunately nothing is going on as planned in time of locks so i am proposing that the DAO should issue SBR tokens on a 1:1 basis from the treasury in replacement of the sunSBR tokens that are currently locked on sunny.ag. This will allow us to unlock the value of the sunSBR tokens and put them to use. It is unclear why the Sunny Aggregator was abandoned by its developer. It is possible that the project may have faced technical challenges or funding issues that made it difficult to continue development. It is also possible that the developers may have shifted their focus to other projects or found the Sunny Aggregator to be no longer viable for their goals.

In order to ensure the fairness and transparency of this proposal, I suggest the following steps:

1. The sunSBR tokens locked in a smart contract and their ownership will be transferred to the DAO.

2. The DAO will then issue SBR tokens on a 1:1 basis to the holders of the locked sunSBR tokens.

3. The newly issued SBR tokens will be transferrable and can be used by the holders.

I believe this proposal will benefit the users by unlocking the value of the sunSBR tokens and allowing them to be put to use within the ecosystem. I look forward to discussing this proposal further with the members of the DAO.

Greetings, everyone!

It's C2yptic here, and I'm excited to share with you my thoughts and ideas for future developments in the Saber saga. As some of you may know, I’m a total Solana maxi, and I've been a part of the Solana community since early 2021 and have been involved in projects like Marinade.finance and joinPoolParty.io, as well as ChronoKingdoms.com.

Now, I've taken it upon myself the idea of assisting the Saber community and SBR token holders in moving things forward with making Saber a fully community-driven DAO protocol and making the protocol reach its ambitions of a “curve model” on Solana.

I think Saber is an excellent DeFi protocol on Solana, that with the right leadership can take upon itself any challenges. Over the past 6-12 months, we've seen that the protocol has operated smoothly without developer involvement. However, it saddens me to see that there has been a lack of communication and leadership to make Saber a truly community-driven protocol under the DAO umbrella and to reach its goal of being a DAO-governed curve of Solana.

To put my view of the Saber protocol in simpler terms:

Saber is like a beautiful race car that has been sitting in a parking lot, collecting dust for far too long. Although its appearance may not be appealing at the moment, the car still runs smoothly like a race car should. My aim is to clean it up and make it look shiny and attractive again, with the hope that those who were initially enthusiastic about this new type of car will appreciate it once more.

I reached out to and talked with Ian, who said that he will continue to contribute to the DAO and its protocol with any technical knowledge and aspects. I’ve also reached out to several DAO members, AKA SBR token holders to hear their points of view on my ideas and initiative, and so far I’ve only heard positive things related to my initiative.

I feel confident that I have the experience, competence, and means to be able to revive the Saber DAO with my leadership and make the SBR token holders as whole as possible and propel the Saber protocol forward to be fully run and governed by the DAO.

My first order of tasks would be to make sure we immediately move forward with executing pending governance proposals and move a specific existing proposal to on-chain voting, which has to do with the LP fees. See the following:

• Issue 1 SBR each for sunSBR
  https://tribeca.so/gov/sbr/proposals/43
• Move this proposal to on-chain voting (LP fees)
  #19

Let’s look at the details of what I need...

My proposal is as follows, I ask all the SBR token holders to grant me the mandate to:

Take leadership of the Saber DAO, which means the following...

• Leading Saber DAO public communications ( https://twitter.com/The_Saber_DAO )
• Community management (Discord http://discord.gg/KTMrMErE2K)
• Manage the governance forum (https://github.com/saber-hq/governance/issues )
• I will be added to the Multisig that governs the DAO and the protocol (as a security measure, please see “Executive Council”, and “Emergency Multisig”, in the Tribeca docs)
• Create a community council of select SBR token holders, that can help with guidance and perspectives until a DAO executive board has been formed (see below).
• Be able to, with executive authority, see through any needed changes. That means giving me the mandate of somewhat like a Chairman or President of the DAO.
• Create the first DAO board AKA DAO team. Note that later on the DAO will be having all executive members appointed by voting, including my leadership role when the restructuring of the community and governance is completed and tested. A great example of this would be MonkeDAO’s governance structure. I will not be able to do everything by myself, so I will reach out to the Solana community, and to those with the relevant experiences to help out in making Saber reach its true DAO ambitions by forming the first DAO Executive board.

• I ask to be entrusted with this leadership role for an 8-month period, to begin with, to be able to see through the restructuring, organizing, and relevant efforts without any stress or unnecessary pressure.

I do not ask for any SBR token compensation at all to begin with. Instead, I will acquire more SBR tokens on the open markets myself, to show the DAO my commitment to the success of the DAO and the protocol. I will revisit this after I’ve accomplished the expectations set in this proposal. I envision DAO members, through a governance proposal will vote and decide what would be a fair and relevant SBR token compensation for past and possibly more work. I think this is the most fair approach for the DAO and me.

I will do my utmost to make sure that this process of opening up the new chapter in the Saber saga is as smooth and fully transparent. Big decisions will not be taken out of the blue, but certain actions will have to be made with certain executive authority granted to me by the DAO through this proposal in order to be able to shape things up effectively. I will make monthly updates on all progress.

I genuinely believe that these changes that I’ve outlined will be beneficial for Solana, the SBR token holders, and the Saber community as a whole.

SBR token holders, let's move into the second half of 2023 with new energy and meet the ultimate goal of making Saber fully run and governed by the DAO and its SBR token holders. Together we can create a new and glorious chapter in the Saber saga which will benefit not only SBR token holders, the Saber protocol… but also the Solana ecosystem as a whole!

Summary

Pay up to $6000 USDC over the next 12 months to EGboznfwLbc95DtSEhLVxZ53uH6thgpsqr3LC3oJptTf for RPC-related expenses

Motivation

RPC nodes are important for Saber, Tribeca, and related services to function.

Actions

Send 500 USDC to EGboznfwLbc95DtSEhLVxZ53uH6thgpsqr3LC3oJptTf from the DAO treasury, once per month. This month, send 1000 USDC to cover November and December costs.