1 Proposal Summary
We propose 3 different solutions customized to the DAO’s preference. LlamaRisk will deliver this dashboard in phases over 12-15 weeks with milestones to allow for progress monitoring.
| Tier | Summarized value proposition | Price |
|---|---|---|
| 1: Baseline | Meet RFP criteria quickly and affordably | $35,000 ($42,500) |
| 2: Enhanced | Exceed RFP criteria with more granular, comparative, historical data | $48,000 ($55,500) |
| 3: Comprehensive | Complete, contextualized historical insights into relevant Stargate metrics with governance analytics and an alert system | $79,000 ($86,500) |
Each offering includes 8 Hydra chains and a $7,500 refundable retainer for additional Hydra chains at $750 each claimed on delivery. All tiers enjoy spreadsheet export capacities.
LlamaRisk has designed each offering to assist Stargate to inform DAO decision-making. This proposal works with and builds on existing data offerings to maximize network benefit. It is designed with accessibility in mind and includes the following categories:
- Foundational protocol usage metrics including pool TVL / APY, Hydra (all chains) growth visualizations and bus / taxi ride share and fee generation segmented by incentivized / organic volume
- STG, STG derivatives and fee distribution (including revenue share)
- Bridging route transaction visualization
- Incentive landscape metrics
- Treasury sustainability metrics including revenue, POL allocation, and position health
- Governance participation analytics
We also propose an alerting system and to mark each chart with significant ecosystem events for additional context.
The final deliverable will be maintained for 1 year with aftercare provisions including explainer sessions, forum posts and a comarketing campaign.
2 Team Background
2.1 About LlamaRisk
LlamaRisk is a DeFi risk nonprofit operating since 2021. As a core principle, it works to improve transparency standards in our industry with the goal of converting trust into sustainable ecosystem growth. Core clients include Curve and Aave, alongside partnerships with Ethena, Prisma, YieldNest and others. Examples of recent dashboard work includes:
- Ethena’s Reserve Fund Dashboard designed to help safeguard and optimize USDe Reserve Fund allocation (example below)
- Arcadia general protocol dashboard to assist responsible operation and parameterization for the protocol
- Sturdy and Morpho dashboard to inform Curve expanding crvUSD supply
Figure 1: Collateral breakdown, from LlamaRisk’s Ethena Dashboard
LlamaRisk is also well known for its open source risk research and consultation across various verticals. We have published some 70 research pieces, including asset risk assessments that often inform our recommendations for onboarding and risk exposure to our protocol partners. Our consultation with protocol teams under review have influenced countless decisions behind the scenes for the benefit of the ecosystem. Thanks to careful alignment and high levels of satisfaction with some of the best in DeFi, we are in the fortunate position to be highly selective with the engagements we choose.
Every tool and report we have produced has informed decision makers across DeFi and this makes us well suited to answer and deliver on this RFP.
2.2 About the Project Lead
Diligent Deer (Twitter, Telegram) was a design engineer for one of the world’s largest reactor manufacturing companies before diving into DeFi 3 years ago. He started his crypto journey as an independent researcher and joined LlamaRisk in 2022. He has spearheaded dashboard efforts and leads a small team, all the while sitting on multisigs at AladdinDAO, FX Protocol, CLever and elsewhere.
Our full-stack development team will be supporting Deer as he leads development. Technical and non-technical team members will be available to Stargate DAO throughout the process, chiefly River (Twitter, Telegram) - the author of this proposal. WormholeOracle, the founder of LlamaRisk, and Svetlin Konsulov, LlamaRisk legal counsel, will also be available throughout this process.
3 Proposal Outline
3.1 Tier Options
LlamaRisk proposes 3 different solutions for the DAO:
- Tier 1: Baseline
- Tier 2: Enhanced
- Tier 3: Comprehensive
This tiered system was chosen to allow the DAO the most flexibility in this RFP. It is in our interest to deliver a product that best meets Stargate’s requirements and we are enthusiastic to deliver the DAO’s preferred choice.
The differences in deliverables between each tier are explained in the image below, followed by a comprehensive breakdown of each product tier. Unless specified, timescales are weekly.
3.1.1 Tier 1: Baseline
This tier services all the needs of the RFP at the lowest price. The DAO should choose this tier to meet its short-term needs.
All offerings include an export to .pdf, .csv or .xlsx function to increase composability.
Metrics will be current, by chain, and by asset with most enjoying time-series (historical) data visualizations. All deployed Stargate chains are covered. Categories without historical data are indicated below as “current”.
This tier costs $35,000 and includes the following:
1. Protocol Metrics
- 1.1 Protocol TVL
- 1.2 Individual pool APY
- 1.3 Daily average volume
- 1.5 Active users
- 1.6 Active contracts (current)
- 1.7 Average volume per user (current)
- 1.8 Average revenue per user (current)
- 1.9 Average volume per contract (current)
- 1.10 Average transaction size (current)
- 1.11 Average address retention (time between first and last Stargate transaction factoring in transaction frequency) (current)
- 1.12 Demand visualization of pathway and volume (current)
2. STG Metrics
- 2.1 Market Cap & Price
- 2.2 Daily average tx volume
- 2.3 Top 100 holders (current)
- 2.4 Active users
- 2.5 Active contracts (current)
- 2.6 Average volume per user
- 2.7 Average volume per contract (current)
- 2.8 Valuation metrics (current) - item 2.1 divided by items 2.2 - 2.7
- 2.9 Total stakers (current)
- 2.10 Demand visualization of pathway and volume (current)
3. STG derivatives metrics - veSTG
- 3.1 Derivative supply vs STG supply
- 3.2 Notional price of the derivative (current)
- 3.3 Top 100 veSTG stakers (current)
- 3.4 Fees paid to stakers by veSTG (current)
- 3.5 Daily derivative unlocks
- 3.6 Unlocking schedule
4. Bridge transaction metrics
- 4.1 Bridge volume
- 4.2 Synthetic token volume
- 4.3 Hydra pool balance and growth visualization (8 chains included, current)
- 4.4 Additional Hydra chains through retainer (current)
- 4.5 Bridge routes (current)
5. Incentives
All are current
- 5.1 Total emissions to each pool
- 5.2 STG vs external token emissions
- 5.3 Average APY per pool (native / incentivized)
6. Fees & protocol revenue
All are current, not segregated by chain or type of reward
- 6.1 Daily fees
- 6.2 Revenue distributed to veSTG
- 6.3 Revenue distributed to treasury
7. Treasury
- 7.1 Spot position (inc. PoL and (ve)STG visualizations) (current)
- 7.2 Foundation onchain holdings (pending discussion with the Foundation) (current)
- 7.3 Investment / yield positions (current)
3.1.2 Tier 2: Enhanced
This tier includes all features in Baseline with enhancements and additional features. This tier is suited to a DAO looking to situate itself in the competitive bridging landscape. This tier will also enable a full insight into historical protocol activity, incentive spend, fee generation / distribution and treasury information.
It costs $48,000 and enhances all Baseline listed metrics become historical and segregated by chain / asset. It introduces the following new metrics:
1. Protocol Metrics
- 1.13 Arbitrage bot analysis (by analysis transaction fees and verifying if they are conducted by EOAs or smart contracts)
7. Treasury
- 7.4 Investment/yield position return, position health and projected APR
8. Comparison of products
This section, which is introduced by this tier, offers insight into Bus vs Taxi metrics. It is segregated by chain, token and indexes historically.
- 8.1 Bus <> Taxi Usage
- 8.2 Bus <> Taxi Volume
- 8.3 Bus <> Taxi active Users
- 8.4 Bus <> Taxi Volume per User
- 8.5 Bus average dispatch time per pathway
3.1.3 Tier 3: Comprehensive
This tier includes all features in Baseline and Enhanced. It offers the most comprehensive protocol metrics and is, in LlamaRisk’s eyes, a sure-fire route to a DAO that enjoys unparalleled insight for informed decision making.
Of note is the alert system, which will notify contributors of predefined abnormal events - something that, for example, could lead to early detection of a security incident. Governance participation visualizations may accelerate problem solving in the DAO’s early stages and significant event markup on the dashboards will provide important context to those reviewing the dashboard. Finally, this tier adds tor routing analysis, which will significantly increase the DAO’s ability to monitor its competitiveness, potentially enabling a finer-tuned, more profitable protocol.
It costs $79,000 and adds the following features with historical, token and chain specific data:
9 Governance
- 9.1 Snapshot events tracking
- 9.2 Voting power of the veSTG users
- 9.3 veSTG participation
10 Alerting system
- 10.1 This alerting system sets a threshold on any data point we track in our backend and, once that threshold is reached, the person is alerted. Useful data points could be:
- Abnormally large bridge transactions
- Average monthly users on a pool falling below a predefined limit
- Significant pool growth on a competitor protocol
11 Event markup on relevant charts
- 11.1 In the same vein as DeFiLlama, we will mark up charts with relevant on and offchain events for the DAO on all applicable charts. For example, if a protocol upgrade launches, resulting in increased bus transactions, this will be marked up (e.g. Hydra). Another useful event for context could be the modification of an incentive program.
Figure 2: Event markups via DeFillama
3.1.4 Example mockup
LlamaRisk would like to demonstrate an example mockup it has made for 4.1 Bridge volume visualization. Note all figures are hypothetical, all parts of this image are subject to change and that this image is static (or as Diligent Deer puts it best: “We will add the Sankey magic later”).
In this provisional dashboard mockup, users can select a “middle” chain with which source chain and destination chain volume are displayed. Users can expand each chain for additional information and may modify timelines. Each network chain will connect in a Sankey diagram style for quick comprehension.
3.2 Timeline, Budget and Deliverables
This project will be deliverable oriented, with funding only released on milestones being met. The 12 week (15 week for Comprehensive) timeline is detailed in the above Gantt chart.
This milestone system is proposed so that the DAO is entirely satisfied with each new phase. The DAO reserves the right to end the engagement at any point during the process, and this milestone system is designed to instill confidence that LlamaRisk will deliver.
3.2.1 Project Phases:
- Planning & Design (weeks 1-4)
- Creating Data Pipelines (weeks 3-7)
- Core Development (weeks 5-12)
- Testing (weeks 11-14)
- Documentation development and soft launch (weeks 13-14)
- Initial Release with community walkthrough sessions (week 14)
- Comprehensive add-ons (weeks 13-15)
- Final Release (week 13, 15 if comprehensive)
- Continual maintenance and Hydra chain request monitoring (until week 52)
3.2.2 Milestone Deliverables:
Start (Week 0):
Deliverables: None
Payments: Baseline $10,000, Enhanced $15,000, Comprehensive $15,000
Milestone 1 (Week 4):
Deliverables: design structure, dashboard template, and visualization preview
Payments: None
Milestone 2 (Week 7):
Deliverables: metric groups 1, 2, 3, and 4 (excluding 4.3 & 4.4).
Payments: Baseline $10,000, Enhanced $15,000, Comprehensive $20,000
Milestone 3 (Week 12):
Deliverables: All components in Baseline & Enhanced
Payments: Baseline $22,500 (see 3.2.3), Enhanced $25,500 (see 3.2.3), Comprehensive $20,000
Milestone 4 (Week 15):
Deliverables: All components remaining in Comprehensive.
Payments: Comprehensive $31,500 (see 3.2.3)
3.2.3 Hydra retainer model
After DAO feedback on the necessity for support for a wide range of Hydra chains, we propose a retainer model for additional Hydra chains.
The offering includes 8 Hydra chains by default, but should the DAO want additional coverage then this retainer solution will ensure that.
It works in the following way:
- On delivery of comprehensive, the DAO pays LlamaRisk $7,500 for up to 10 additional Hydra chains.
- 2 or more DAO members with more than 5K veSTG power write a simple forum proposal requesting an additional chain added to the dashboard.
- LlamaRisk confirms receipt and delivers the additional chain and removes $750 from the $7,500 retainer. This is noted on delivery.
- At the end of the 1 year period, unused funds from this retainer will be returned to Stargate DAO.
- Should more than 10 additional chains be requested, LlamaRisk will write an RFC for an additional retainer payment under the same structure ($750/chain with unused funds being returned).
While not a perfect solution, it has been designed in mind to ration resources while minimizing overhead for the DAO. In this way, all Hydra chains that should be covered will be covered.
3.2.4 Service contract length
This dashboard contract will last one year. The prices quoted above include data and hosting costs, and servicing maintenance requests through the contract duration. LlamaRisk will make any modification necessary and ensure the dashboard functions as described here. For the avoidance of uncertainty, continued maintenance discussions will be tabled for July 2025.
This dashboard is a meaningful investment for the DAO and LlamaRisk is hopeful the DAO will wish for us to continue the partnership upon completion. We see potential for us to grow as a part of the DAO.
Working with the Stargate protocol represents a significant investment for us as well, and so we hope that this first RFP is the beginning of a long and productive relationship as the DAO continues down the path of progressive decentralization.
3.3 Aftercare
Both short and long term satisfaction is important to LlamaRisk. With this in mind, we propose a variety of proactive measures to make sure this dashboard is useful during development and after delivery.
We will engage the DAO in the following ways to ensure the dashboard stays helpful and informative:
- Progress updates in the forum detailing development
- Q&A / feedback session on how to use the dashboard on launch
- Periodic review meetings to discuss the dashboard’s effects on the DAO’s operations, identify any changed user requirements and discuss potential enhancements. These will be based on complete performance reports on dashboard usage statistics.
- A final, 1 year review summarizing the dashboard’s contributions over the year, identifying important decisions it helped inform and suggestions for future dashboard improvement.
This will of course be in combination with reactive support - we are just a Telegram message away.
LlamaRisk engages in this effort to maximize the likelihood that we can continue contributing to this DAO long into the future. It is our intention to become a regular participant in this DAO, and good aftercare is necessary for that.
3.3.1 Marketing
A key part of developing any dashboard is making sure both the DAO and its ecosystem is aware it exists and knows how to use it. To this end, LlamaRisk has developed a marketing strategy drawing from our work on the Ethena dashboard.
This primarily involves both static and dynamic information sessions through our own X account and our partners Leviathan News (who enjoy ±16K followers of the most high agency DeFi users across Telegram / X). Fusing our expertise with Leviathan’s reach on stream (available on request) resulted in significant interest from major potential Ethena integrators.
A similar socialization strategy will be developed and utilized to get this dashboard into the hands of the many.
4 Closing
LlamaRisk would like to thank the DAO for its careful attention to our proposal, as well as this RFP process. While RFPs may add upfront friction, it will surely result in the highest value-add outcome for the DAO thanks to the open competition. We’d also like to thank @Exahash and @SendokGarpu, and the wider community for their input.
LlamaRisk suggests that the DAO chooses the Comprehensive tier to best understand the protocol’s place in the ecosystem as well as to monitor the DAO’s progressive decentralization process. From our perspective, this would best equip the DAO as it continues to expand. With this in mind, we encourage the DAO to select the tier that is of most value to it at this time.
We look forward to answering any questions the DAO has and making any helpful amendments. While we want to ensure the DAO is confident in our capacity to drive this initiative, we want the DAO to make sure that the route is entirely within its control.
Finally, as earlier stated, we hope that this RFP marks the start of LlamaRisk’s contribution to Stargate DAO over the coming years. We are fortunate to have been highly selective with the clients that we have chosen up to this point and believe Stargate presents an incredible opportunity to encourage and mature for our nonprofit and the DAO itself.