OPAP
The Optimizing Portfolio and Allocation Proposal (OPAP) mechanism is the first decentralized solution for management and optimization of liquid staking yields. Unlike traditional approaches that rely on MPC wallets, StakeStone provides full transparency for underlying assets and yields.
OPAP allows for the optimization of STONE’s underlying assets, ensuring that STONE holders receive optimized staking yields automatically and effortlessly. This includes:
Portfolio Optimization: Adding new strategies to the underlying assets of STONE
Allocation Optimization: Changing the proportion of ETH among different strategies
How does OPAP ensure safety?
OPAP prioritizes safety over APY when evaluating new assets. STONE holders focus on three key risks: market risk, counterparty risk, and technology risk. Specifically, market risk concerns liquidity, counterparty risk involves governance, legal issues, and centralization, while technology risk pertains to smart contracts and oracle reliability. Thus, STONE holders prefer low-risk, blue-chip assets as underlying assets.
Past assets approved by OPAP include Symbiotic, Eigenlayer, Rocketpool, Curve, Balancer, and Mellow.
Our asset evaluations emphasize safety (third-party audits), adoption (measured by the number of staked on-chain wallets), and liquidity (to minimize slippage and large price fluctuations). To ensure safety, we consult a committee of the largest institutional STONE holders, who provide independent internal risk assessments and due diligence to verify if an asset meets our blue-chip standards.
Our developer team includes experts from reputable audit firms such as Slowmist, ensuring that all code undergoes an internal audit before being externally reviewed by institutional partners and third-party auditors.
OPAP also has a timelock mechanism in the smart contract code (minimum 24 hours). Usually, the timelock is longer, averaging 3 to 7 days while integrating community feedback for OPAP and this timelock serves as a safety guardrail.
How OPAP Works
WHEN TO VOTE
Any adjustment to funds must first be proposed and displayed in the form of a proposal. The holders of STONE will determine the final decision on whether to execute the proposal through on-chain voting.
WHO CAN VOTE
All STONE holders can vote in favor or against the proposal in OPAP on StakeStone's website, with the weight determined by the number of STONE they lock.
HOW TO DECIDE
The final decision on whether to pass and execute the proposal will be based on the number of votes in favor and against the proposal.
The proposal will be implemented if it receives more affirmative votes than opposing votes at the end of the public notice period.
When nobody vote for or against in one proposal when the voting period ends, it will NOT be implemented.
HOW TO PROPOSE
Currently, proposals can be raised by this address:
0xc52d678f99bfc43ae777a16a79b78db571a3e2a1All past and active proposals (OPAP) can be found and voted on StakeStone's website or directly here. We will send reminders for each proposal and we also strongly encourage you to set up your own reminders.
StakeStone will gradually transition to DAO governance to decentralize the proposal submission, relevant parameter adjustments, and rule decisions.
The StakeStone team strongly encourages STONE holders to actively participate in these OPAP proposals, contributing to the development of a safer and fully decentralized ecosystem.
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