This Financial Status report aims to support transparency, clarity and accountability.
For a comprehensive backwards-facing view of the DAO’s Stablecoin Treasury (INV spend not included), please use this Google Sheets link to access the full dashboard.
Summarizing screenshots along with brief commentary/context are shared in the sections below…
This post will be broken down as follows:
- Revenue Breakdown
- Stablecoin OpEx Monthly
- Working Group OpEx Analysis
- Bad Debt Breakdown
- Treasury Holdings
Overall summary of finances, with a particular focus on the Treasury’s revenue compared to expenditures and the state of the stablecoin runway. Since May 2023, the DAO Treasury has been in negative cashflow due to the current operational expenditures size compared to the strained revenue.
Average OpEx is calculated from the average of the trailing 4 months (annualized) and trailing 12 months of OpEx.
Note: Stablecoin treasury size inflated April 2023 - July 2023 due to large stablecoin quantity recovered from Euler exploit, but not yet used to pay down DOLA bad debt.
Poor incentive efficiency impacting TWG/Fed revenue from May 2023, with poor overall market conditions in the same time period for the INV token similarly impacting revenue from bonds.
Monthly costs (actual cashflow, hence uneven breakdown month to month for WG’s) coming from each working group, considering the multisigs and contributor payroll.
Repayments are considered when it’s registered in the underlying smart contracts. For example, when a user swaps anETH for WETH via the debt repayer contract, this is not considered a repayment, but when the underlying anETH token (now held by the TWG) is burned (like done in this transaction) it is considered a repayment (non-DOLA bad debt in this case).
This data is pulled from the bad debt dashboard in the transparency portal.
The treasury holdings (on-chain Treasury, as well as TWG multisigs), excluding naked $INV and $DBR.
This summary does not include OTC transactions yet, with historical data still being gathered and verified. It will be included in future versions.