Monthly Treasury Report — July

Summary

The treasury has been increased to $16.2m ($13.3m RUNE, $2.9m Liquid), 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.

Planned Obsolescence is set for July 2022.

Operational Treasury

The treasury comprises of $2.9m USD liquid and $7.2m in RUNE.

Community Reserve

The Community Reserve is at 12m RUNE which is allocated to RUNEVault and Chaosnet Incentives.

Runway

The current project runway is at 39 months. All team members are paid 70% in USDT and 30% in RUNE for alignment with the project.

The team are positioning to increase hiring again.

Community Grants

The team are monitoring for community initiatives and are willing to fund a variety of projects if they meet the scope and alignment of the project goals. Examples are:

• Telegram bots
• Block Explorers
• Wallets
• Dashboards
• etc

If you are interested in applying for a grant, please apply with the team.

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 24 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 39 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:

• Twitter: https://twitter.com/thorchain_org
• Telegram Community: https://t.me/thorchain_org
• Telegram Announcements: https://t.me/thorchain
• Discord: https://discord.gg/V6pNp8A
• Reddit: https://reddit.com/r/thorchain
• Github: https://github.com/thorchain
• Medium: https://medium.com/thorchain