1/ We partnered with the ENS community to design a tailored Investment Policy Statement (IPS) for the @ENS_DAO. This IPS isn’t just a document—it’s a strategic blueprint for how the ENS Endowment will be managed to ensure sustainability and long-term growth. 🧵 Here’s why it…
2/ DAOs are often dynamic, fast-evolving ecosystems. Multiple stakeholders, new service providers, and changing priorities can create confusion. The IPS serves as a north star, providing clear guidelines and stability in a constantly shifting environment. For @ENS_DAO, this means…
3/ Why does ENS need an IPS? Just as corporations assume their own indefinite operation as a “going concern”, DAOs are meant to be forever. The ENS DAO needs to achieve self-sufficiency, ensuring the Endowment can fully fund the protocol’s future without depleting resources.
4/ The goal is ambitious: ENS aspires to achieve self-sufficiency, with the Endowment eventually funding the DAO’s entire operations, including Labs, Working Groups, and Streams. It's a bold vision, but one that’s achievable with the right strategy.
To achieve this, the IPS…
5/ But it’s not just about returns. We’re executing DeFi strategies based on rigorous risk management. The ENS community’s values are front and center: no speculative trading, prioritising blue-chip protocols, and ensuring that investments reflect the decentralised ethos of ENS.…
6/ Risk management is key to this plan. We monitor a range of risks—market, liquidity, smart contract, and operational risks—ensuring that the Endowment is deployed in safe, reliable venues. ETH itself is considered a low-risk asset, reflecting ENS DAO’s commitment to its…
7/ Liquidity is critical. The IPS ensures that ENS has at least three years of runway in stablecoins, providing stability even in challenging markets. This approach allows ENS to continue operating smoothly without the need to sell core assets like ETH.
8/ At karpatkey, we don’t just create the strategy—we help ENS execute it. We provide real-time risk monitoring and present weekly updates during ENS’ MetaGov meetings. In addition, monthly reports track performance, and annual reviews ensure the strategy stays aligned with…
9/ In summary, the ENS IPS is a vision for self-sustainability, a structured approach to growth, and a commitment to decentralisation. This is how DAOs evolve, ensuring long-term success while staying true to their ethos.
Committed to a sustainable future for ENS? Help shape it…
We’re excited to announce karpatkey has successfully closed a $7M funding round to scale onchain treasury management for DAOs and institutions!
We’re honoured to be supported by so many industry leaders and pioneers.
1/ From asset management to security, business development and financial services, we help crypto organisations unlock value & stimulate growth. karpatkey is building a DeFi Treasury Network of leading DAOs, managed for the benefit of all. But what does that mean? 🧵 👇
2/ karpatkey began operations in 2020, managing the treasury of @GnosisDAO. Our partners now include @Uniswap, @balancer, @ENS_DAO, @CoWSwap, @LidoFinance, @Safe, @aave and more. The size of our DeFi Treasury Network has grown to over 1.8 billion USD.
3/ As a small & nascent industry, most DAOs rely on others to succeed…
For DeFi to reach the mainstream, the whole must become greater than the sum of its parts.
Some of the best value that we've helped to unlock comes from bringing DAOs together to meet shared aims.
4/ Among such a broad network, the benefits of interconnectivity start to crop up everywhere. From specialist M&A and expert research, to extensive incentives and deep integrations; we locate common opportunities for growth in every corner of ours DAOs.
Here’s a few examples 👇
5/ To ensure proper management of DAO treasuries and focus on long-term sustainability, we recognized the need to embed the Network more deeply into our strategy and expand our solutions offering. We've restructured karpatkey in line with this vision.
6/ For now, we’re only just scratching the surface. There’s a lot more value to unearth in the DeFi Treasury Network.
You can read more about karpatkey’s vision from our co-founder @claberus here: karpatkey.com/contents/karpa…
Tomorrow, October 18th, at 4:00 PM CET, @TheTakenUser will join a panel on “The Future of Asset Management On-Chain” alongside @DimitarDinev7 from @ipor_io, @pscltllrd from @Jarvis_Network, and @fungibletaco from @Consensys and @VillageDAO_.
If you’re attending @EthSofiaBG, we…
We worked with @CoWSwap and @gnosischain to design and implement an incentive program for external solvers. After 24 weeks, what are the results?
🐮 The program has distributed 130k xDAI, 72% of the total budget 🐮 The total swap aggregation market on Gnosis Chain is above 65%,…
1/ 📣 @dYdX Community updates
➖ With the approval of proposal #157, karpatkey has been tasked to set up a Cayman Foundation to manage ~40M DYDX tokens from the Community Treasury. ➖ karpatkey is undertaking a rigorous process to identify and appoint a qualified custodian. ➖…
2/ ⏳ We have started setting up the legal and on-chain infrastructure for the subDAO. An approximate timeline for the next steps is as follows: ➖ The legal setup should be ready by the end of October ➖ The infrastructure setup is also expected to be ready by the end of October…
3/ 🔐 Our custodian selection is guided by three core principles: 1️⃣ Due diligence: Thorough evaluations of security protocols and operational efficiency. 2️⃣ DAO alignment: Custodians must understand and support decentralized governance. 3️⃣ Tech compatibility: Prioritising robust…
4/ 🚨 Calling for 3 Community Signers on Treasury SubDAO Multi-sig Wallet 🚨
The Treasury SubDAO will use a 3-of-6 multi-signature wallet with two groups: three signers from karpatkey and three Community Signers. To validate a transaction, 3 signatures are required, including at…
We will be participating in @ETHSofiaBG from October 17th to 19th, and our very own @TheTakenUser will be one of the featured speakers! If you're attending, feel free to send him a DM—he’d love to connect!
karpatkey’s @mrvega0x highlighted the state of stkGHO-GHO liquidity in his 🧵 below, including:
➡️ The total stkGHO in the @aave Safety Module has reached 114M, 70% monthly growth! ➡️ Two main stkGHO-GHO pools: @mavprotocol and @CoWSwap ➡️ Limit orders on Cow have seen 2.4X more…
Great insights from last week’s discussion between the team at @LlamaRisk and our very own @sisyphos7919!
1️⃣ karpatkey, working closely with our partners, has been instrumental in driving GHO’s liquidity to $150M, not only by maintaining peg stability but also by incentivizing…
We're about to go live! ⏰
Join karpatkey's @sisyphos7919 and the team at @LlamaRisk on @leviathan_news for an in-depth discussion on how GHO reached $150M and what's next for @Aave DAO.
Tune in now: youtube.com/live/l-l8SjjE-…
We’re honored to be ranked #41 on the Top 100 Web3 Companies to Work For in 2024, as recognized by @calyptus_web3!
We are also hiring! Our team works with many of the largest DAOs in crypto, providing asset management, financial services, and more. If you are passionate about…
🇺🇸 We’re live from @MessariCrypto in NYC! #Mainnet2024
Our Head of Institutional, @RSousaMarques, is explaining how karpatkey is enabling financial institutions to access DeFi through secure, on-chain asset management: “Every financial institution should be able to custody and…
Join us today at @MessariCrypto! Our Head of Institutional, @RSousaMarques, will be presenting how we’re providing institutional access to DeFi yields through secure, regulated funds and a range of strategies.
📅 October 1st, 11:00 AM (GMT-4) 📍 Pier 36, NY
See you there!
We’re excited to announce that our proposal to establish a new @dYdX Treasury subDAO has passed on Mintscan!
By aligning fees with growth, managing over $1B in non-custodial AUM and the total value of our partner treasuries exceeding $2.1B, and staking 40M DYDX to generate 4.8M…
(O,O) ( ) --"-"--3.0 Oct 1 2024 Full Stack Decentralization
Excited to announce that we’ll be attending @MessariCrypto in NYC from Sept 30 - Oct 2!
This year, our Head of Institutional, @RSousaMarques, will be sharing how karpatkey is leveraging its on-chain asset management expertise to build an actively managed, open-end investment…
1/ While our Treasury SubDAO proposal for @dYdX focuses on the immediate needs of the community, our commitment is long-term. In this 🧵 we’ll explore those longer-term solutions, including: ✴️Replenishing the treasury ✴️Ecosystem growth ✴️Strategic buybacks and yield generation
2/ A core part of our strategy is the staking program, which will delegate ~40M DYDX from the Community Treasury to validators. This program is expected to generate a net contribution of 4.8M USDC per year, laying the foundation for long-term financial stability and diversifying…
3/ DAOs sometimes struggle with too many initiatives running in parallel, leading to misaligned resources. karpatkey can help @dYdX maintain a strong focus on product performance and growth by ensuring that financial resources are distributed effectively to improve their…
4/ One of our core strengths is finding synergies across our partner network. For instance, Nexus Mutual could provide insurance solutions for MegaVault depositors, protecting them against liquidation risks caused by price feed errors. We can explore further synergies with all of…
5/ We've proposed an optional strategy to leverage the USDC accumulated from the staking program in DeFi strategies, interacting with battle-tested protocols. This will generate additional returns without exposing the underlying treasury assets to unnecessary risks.
6/ Strategic buybacks are another key optional component of our proposal. These buybacks can reduce the circulating supply of DYDX, strengthen liquidity, and boost market sentiment. This is especially impactful when the token is undervalued, creating opportunities to align with…
7/ Voting is now open—make sure your voice is heard and support karpatkey’s vision for the dYdX community: 🔗 mintscan.io/dydx/proposals… 🗳️ There are two competing proposals. We hope you'll vote YES for karpatkey, and NO on the alternative.
1/ Key takeaways from our recent AMA with @dydxfoundation, addressing community questions:
2/ Our fees will be $300k per year. Our fees will remain at this minimum level until we drive substantial growth at dYdX, ensuring proper alignment between costs and performance.
3/ We discussed synergies within karpatkey’s partner network, enabling @dYdX to leverage collaborations with other leading DeFi projects for long-term growth and ecosystem development.
For example, with @NexusMutualDAO, there is potential to offer insurance solutions across…
4/ Buybacks are a key optional component in our proposal. By executing strategic buybacks from the open market, we can reduce the circulating supply of DYDX, strengthen liquidity, and drive positive market sentiment, aligned with the community’s interests. This strategy is…
5/ We also proposed an optional strategy to leverage the USDC accumulated through the staking program in DeFi strategies to grow the treasury further. karpatkey only interacts with renowned and battle-tested DeFi protocols to minimise risks. This approach will generate further…
6/ We support open communication with the @dYdX community to shape the treasury strategy. We are committed to transparency and accountability. Our treasury strategies are pre-approved by the communities we serve, and we operate strictly within those predefined boundaries.
Voting is now open—make sure your voice is heard and support karpatkey’s vision for the dYdX community: 🔗 mintscan.io/dydx/proposals…
🗳️ There are two competing proposals. We hope you'll vote YES for karpatkey, and NO on the alternative.
1/ We partnered with the ENS community to design a tailored Investment Policy Statement (IPS) for the @ENS_DAO. This IPS isn’t just a document—it’s a strategic blueprint for how the ENS Endowment will be managed to ensure sustainability and long-term growth. 🧵 Here’s why it…
2/ DAOs are often dynamic, fast-evolving ecosystems. Multiple stakeholders, new service providers, and changing priorities can create confusion. The IPS serves as a north star, providing clear guidelines and stability in a constantly shifting environment. For @ENS_DAO, this means…
3/ Why does ENS need an IPS? Just as corporations assume their own indefinite operation as a “going concern”, DAOs are meant to be forever. The ENS DAO needs to achieve self-sufficiency, ensuring the Endowment can fully fund the protocol’s future without depleting resources.
4/ The goal is ambitious: ENS aspires to achieve self-sufficiency, with the Endowment eventually funding the DAO’s entire operations, including Labs, Working Groups, and Streams. It's a bold vision, but one that’s achievable with the right strategy.
To achieve this, the IPS…
5/ But it’s not just about returns. We’re executing DeFi strategies based on rigorous risk management. The ENS community’s values are front and center: no speculative trading, prioritising blue-chip protocols, and ensuring that investments reflect the decentralised ethos of ENS.…
6/ Risk management is key to this plan. We monitor a range of risks—market, liquidity, smart contract, and operational risks—ensuring that the Endowment is deployed in safe, reliable venues. ETH itself is considered a low-risk asset, reflecting ENS DAO’s commitment to its…
7/ Liquidity is critical. The IPS ensures that ENS has at least three years of runway in stablecoins, providing stability even in challenging markets. This approach allows ENS to continue operating smoothly without the need to sell core assets like ETH.
8/ At karpatkey, we don’t just create the strategy—we help ENS execute it. We provide real-time risk monitoring and present weekly updates during ENS’ MetaGov meetings. In addition, monthly reports track performance, and annual reviews ensure the strategy stays aligned with…
9/ In summary, the ENS IPS is a vision for self-sustainability, a structured approach to growth, and a commitment to decentralisation. This is how DAOs evolve, ensuring long-term success while staying true to their ethos.
Committed to a sustainable future for ENS? Help shape it…
We’re excited to announce karpatkey has successfully closed a $7M funding round to scale onchain treasury management for DAOs and institutions!
We’re honoured to be supported by so many industry leaders and pioneers.
1/ From asset management to security, business development and financial services, we help crypto organisations unlock value & stimulate growth. karpatkey is building a DeFi Treasury Network of leading DAOs, managed for the benefit of all. But what does that mean? 🧵 👇
2/ karpatkey began operations in 2020, managing the treasury of @GnosisDAO. Our partners now include @Uniswap, @balancer, @ENS_DAO, @CoWSwap, @LidoFinance, @Safe, @aave and more. The size of our DeFi Treasury Network has grown to over 1.8 billion USD.
3/ As a small & nascent industry, most DAOs rely on others to succeed…
For DeFi to reach the mainstream, the whole must become greater than the sum of its parts.
Some of the best value that we've helped to unlock comes from bringing DAOs together to meet shared aims.
4/ Among such a broad network, the benefits of interconnectivity start to crop up everywhere. From specialist M&A and expert research, to extensive incentives and deep integrations; we locate common opportunities for growth in every corner of ours DAOs.
Here’s a few examples 👇
5/ To ensure proper management of DAO treasuries and focus on long-term sustainability, we recognized the need to embed the Network more deeply into our strategy and expand our solutions offering. We've restructured karpatkey in line with this vision.
6/ For now, we’re only just scratching the surface. There’s a lot more value to unearth in the DeFi Treasury Network.
You can read more about karpatkey’s vision from our co-founder @claberus here: karpatkey.com/contents/karpa…
Tomorrow, October 18th, at 4:00 PM CET, @TheTakenUser will join a panel on “The Future of Asset Management On-Chain” alongside @DimitarDinev7 from @ipor_io, @pscltllrd from @Jarvis_Network, and @fungibletaco from @Consensys and @VillageDAO_.
If you’re attending @EthSofiaBG, we…
We worked with @CoWSwap and @gnosischain to design and implement an incentive program for external solvers. After 24 weeks, what are the results?
🐮 The program has distributed 130k xDAI, 72% of the total budget 🐮 The total swap aggregation market on Gnosis Chain is above 65%,…
1/ 📣 @dYdX Community updates
➖ With the approval of proposal #157, karpatkey has been tasked to set up a Cayman Foundation to manage ~40M DYDX tokens from the Community Treasury. ➖ karpatkey is undertaking a rigorous process to identify and appoint a qualified custodian. ➖…
2/ ⏳ We have started setting up the legal and on-chain infrastructure for the subDAO. An approximate timeline for the next steps is as follows: ➖ The legal setup should be ready by the end of October ➖ The infrastructure setup is also expected to be ready by the end of October…
3/ 🔐 Our custodian selection is guided by three core principles: 1️⃣ Due diligence: Thorough evaluations of security protocols and operational efficiency. 2️⃣ DAO alignment: Custodians must understand and support decentralized governance. 3️⃣ Tech compatibility: Prioritising robust…
4/ 🚨 Calling for 3 Community Signers on Treasury SubDAO Multi-sig Wallet 🚨
The Treasury SubDAO will use a 3-of-6 multi-signature wallet with two groups: three signers from karpatkey and three Community Signers. To validate a transaction, 3 signatures are required, including at…
We will be participating in @ETHSofiaBG from October 17th to 19th, and our very own @TheTakenUser will be one of the featured speakers! If you're attending, feel free to send him a DM—he’d love to connect!
karpatkey’s @mrvega0x highlighted the state of stkGHO-GHO liquidity in his 🧵 below, including:
➡️ The total stkGHO in the @aave Safety Module has reached 114M, 70% monthly growth! ➡️ Two main stkGHO-GHO pools: @mavprotocol and @CoWSwap ➡️ Limit orders on Cow have seen 2.4X more…
Great insights from last week’s discussion between the team at @LlamaRisk and our very own @sisyphos7919!
1️⃣ karpatkey, working closely with our partners, has been instrumental in driving GHO’s liquidity to $150M, not only by maintaining peg stability but also by incentivizing…
We're about to go live! ⏰
Join karpatkey's @sisyphos7919 and the team at @LlamaRisk on @leviathan_news for an in-depth discussion on how GHO reached $150M and what's next for @Aave DAO.
Tune in now: youtube.com/live/l-l8SjjE-…
We’re honored to be ranked #41 on the Top 100 Web3 Companies to Work For in 2024, as recognized by @calyptus_web3!
We are also hiring! Our team works with many of the largest DAOs in crypto, providing asset management, financial services, and more. If you are passionate about…
🇺🇸 We’re live from @MessariCrypto in NYC! #Mainnet2024
Our Head of Institutional, @RSousaMarques, is explaining how karpatkey is enabling financial institutions to access DeFi through secure, on-chain asset management: “Every financial institution should be able to custody and…
Join us today at @MessariCrypto! Our Head of Institutional, @RSousaMarques, will be presenting how we’re providing institutional access to DeFi yields through secure, regulated funds and a range of strategies.
📅 October 1st, 11:00 AM (GMT-4) 📍 Pier 36, NY
See you there!
We’re excited to announce that our proposal to establish a new @dYdX Treasury subDAO has passed on Mintscan!
By aligning fees with growth, managing over $1B in non-custodial AUM and the total value of our partner treasuries exceeding $2.1B, and staking 40M DYDX to generate 4.8M…
(O,O) ( ) --"-"--3.0 Oct 1 2024 Full Stack Decentralization
Excited to announce that we’ll be attending @MessariCrypto in NYC from Sept 30 - Oct 2!
This year, our Head of Institutional, @RSousaMarques, will be sharing how karpatkey is leveraging its on-chain asset management expertise to build an actively managed, open-end investment…
1/ While our Treasury SubDAO proposal for @dYdX focuses on the immediate needs of the community, our commitment is long-term. In this 🧵 we’ll explore those longer-term solutions, including: ✴️Replenishing the treasury ✴️Ecosystem growth ✴️Strategic buybacks and yield generation
2/ A core part of our strategy is the staking program, which will delegate ~40M DYDX from the Community Treasury to validators. This program is expected to generate a net contribution of 4.8M USDC per year, laying the foundation for long-term financial stability and diversifying…
3/ DAOs sometimes struggle with too many initiatives running in parallel, leading to misaligned resources. karpatkey can help @dYdX maintain a strong focus on product performance and growth by ensuring that financial resources are distributed effectively to improve their…
4/ One of our core strengths is finding synergies across our partner network. For instance, Nexus Mutual could provide insurance solutions for MegaVault depositors, protecting them against liquidation risks caused by price feed errors. We can explore further synergies with all of…
5/ We've proposed an optional strategy to leverage the USDC accumulated from the staking program in DeFi strategies, interacting with battle-tested protocols. This will generate additional returns without exposing the underlying treasury assets to unnecessary risks.
6/ Strategic buybacks are another key optional component of our proposal. These buybacks can reduce the circulating supply of DYDX, strengthen liquidity, and boost market sentiment. This is especially impactful when the token is undervalued, creating opportunities to align with…
7/ Voting is now open—make sure your voice is heard and support karpatkey’s vision for the dYdX community: 🔗 mintscan.io/dydx/proposals… 🗳️ There are two competing proposals. We hope you'll vote YES for karpatkey, and NO on the alternative.
1/ Key takeaways from our recent AMA with @dydxfoundation, addressing community questions:
2/ Our fees will be $300k per year. Our fees will remain at this minimum level until we drive substantial growth at dYdX, ensuring proper alignment between costs and performance.
3/ We discussed synergies within karpatkey’s partner network, enabling @dYdX to leverage collaborations with other leading DeFi projects for long-term growth and ecosystem development.
For example, with @NexusMutualDAO, there is potential to offer insurance solutions across…
4/ Buybacks are a key optional component in our proposal. By executing strategic buybacks from the open market, we can reduce the circulating supply of DYDX, strengthen liquidity, and drive positive market sentiment, aligned with the community’s interests. This strategy is…
5/ We also proposed an optional strategy to leverage the USDC accumulated through the staking program in DeFi strategies to grow the treasury further. karpatkey only interacts with renowned and battle-tested DeFi protocols to minimise risks. This approach will generate further…
6/ We support open communication with the @dYdX community to shape the treasury strategy. We are committed to transparency and accountability. Our treasury strategies are pre-approved by the communities we serve, and we operate strictly within those predefined boundaries.
Voting is now open—make sure your voice is heard and support karpatkey’s vision for the dYdX community: 🔗 mintscan.io/dydx/proposals…
🗳️ There are two competing proposals. We hope you'll vote YES for karpatkey, and NO on the alternative.
Our proposal to establish a new @dYdX Treasury subDAO is now live for voting on Mintscan!
Key reasons to support karpatkey: 1️⃣ Lower Fees, Aligned with Growth: Our fees will be $300k per year. Our fees will remain at this minimum level until we drive substantial growth at dYdX,…
@lavender_five @dYdX Thank you for opening this discussion! We have shared details of our costs for the proposal scope in the forum: dydx.forum/t/dydx-treasur… In the current market, our fee is $300k (bottom of the defined range). It will only increase if the dYdX ecosystem grows substantially.