Monthly Treasury Report

2020-01-23 — 2 min read

Overview

The treasury is sustained at $1.2m USD, sufficient for an 18 month runway. OTC Sales were completed in the preceding month, alongside upside on BTC and BNB assets.

The Community Reserve is fully-allocated to RUNEVault, which will be capped at 1m per week. Some large expenses for the month were in part due contractor payments for code review.

Treasury

The treasury has sustained $1.2m for the month due to OTC sales of around 500k RUNE and an increase in asset value. Rune reserves have also increased in value.

The team will need to rebalance the BNB assets back down to no more than 15% of treasury.

OTC Sales

The team completed ~500k in RUNE sales to private investors. A large fund is positioning for an entry and the team have allocated Rune from January as well as February to accommodate this. This will be accounted for in next month’s Treasury Report. It is up to the fund to disclose their entry; the team won’t.

Operational Reserve

The month saw mostly full use of the reserve going to dev expenses, liquidity requirements, OTC sales and expenses as associated with the code testing and review.

Community Reserve

The Community Reserve is allocated to RUNEVault and other community campaigns. RUNEVault emissions are capped at a maximum of 4m per month (1m per week), to prevent runaway growth due to much higher than expected staking rates.

Runway

The current project runway is around 18 months. The team have hired 2 additional engineers, who have just been onboarded. There next month will see an increase in monthly burn.