Monthly Treasury Report

THORChain logo
THORChain

2020-04-22 — 2 min read

    Report

Overview

The treasury has been increased to $1.5m USD, sufficient for an 24 month Runway. OTC Sales were completed in the preceding month. There are no large expenses on the horizon, and the audit expenses are appropriately budgeted for.

The Community Reserve is fully-allocated to RUNEVault, which will be capped at 1m per week.

Treasury

The treasury is now $1.5m. This is due to several OTC sales plus appreciate of asset value. OTC sales are necessary to improve the treasury since the initial sale was quite small. OTC sales are always done at the 7-day moving average and typically closed in USDT. As of last month, the maximum RUNE that will be sold each month is 1,500,000.

The Community Reserve is healthy at 25m RUNE which is allocated to RUNEVault. The ongoing emission to the community is necessary to ensure that the original IDO could not be sybil-attacked and that distribution is wide. These efforts continue to pay off, with the RUNE asset being one of the most widely distributed on the Binance Chain network.

Runway

The current project runway is stable at 24 months. All team members are paid 70% in USDT and 30% in RUNE for alignment with the project.

Large Expenses

The team’s budget of $150k for all three reports is adequate and is unlikely to go over.

The team spent 1000 BNB on a Binance DEX listing of RUNE:BUSD pair — which will create more efficient arbitrage when BEPSwap is launched.

Summary

In summary the team’s treasury is healthy for the stage of the project and will allow a solid 24 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:

Try the World’s Leading Bitcoin DEX

No sign up required. Easy to use.

Related articles