Monthly Treasury Report — August

The treasury comprises of $3.8m USD liquid and $15.7m in RUNE, with a 34 month Runway. Planned Obsolescence July 2022.

THORChain

— 2 min read
Monthly Treasury Report — August

Summary

The treasury has been increased to $19.5m, sufficient for a +30 month Runway. Community grants can be allocated. An additional audit is being scoped, capped at $125k.

The Community Reserve of is fully-allocated to RUNEVault, which will be capped at 1m per week and will begin to reduce on Chaosnet launch.

Planned Obsolescence is set for July 2022.

Operational Treasury

The treasury comprises of $3.8m USD liquid and $15.7m in RUNE

Community Reserve

The Community Reserve is at 7m RUNE which is allocated to RUNEVault and Chaosnet Incentives.

Runway

The current project runway is at 34 months. All team members are paid 70% in USDT and 30% in RUNE for alignment with the project.

The team have paid out a number of grants to help spike some technology for Chaosnet, these grants aren’t long term and intended to be only 2–3 months in duration.

Community Grants

The team have actioned 9 grants to help spike infrastructure, which will run for the next 2–3 months until mature. These are one-time costs.

  • Telegram bot (Block-42)
  • Block Explorers (ViewBlock & PusherLabs)
  • Twitter Bot (PusherLabs)
  • Wallets (Frontier & XFi)
  • Dashboards (Delphi)
  • Midgard (Delphi & community-dev)
  • NFT Management (community NFT team)
  • Social Management (community teams)

Grant applications are on hold for now.

Large Expenses

The team will allocate more funding for an additional infrastructure audit capped at $125k.

Planned Obsolescence

The team plan to hand over full control of the protocol, github, socials and its treasury around 23 months (~July 2022) and when the following is hit:

  • Mainnet + 4–5 chains
  • Decentralised (team do not run any nodes)
  • Adequate community support (wallets, exchanges, dashboards, bots)

Any treasury at that point will be added back to the protocol’s reserve where it will pay out to Nodes and Liquidity Providers.

Summary

In summary the team’s treasury is healthy for the stage of the project and will allow a solid 34 month runway for the project.

This is more than sufficient to deliver mainnet.

THORChain Community

To keep up to date with the project, please monitor community channels, particularly Telegram, Discord and Twitter:

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