Summary
In the past month, operational expenses amounted to $633,758, marking a decrease of $109,585 compared to the previous month. This decrease underscores our steadfast dedication to financial prudence.
As of May 2024, the current value of the DAO treasury is $67,109,851, reflecting an upsurge from the previous period. This increase is chiefly due to the rise in the price of the GTC token, which has surged by 39.56% since the last report.
This report provides a thorough examination of our financial performance throughout May 2024, highlighting essential metrics and budgetary analysis.
Overview
- Last Month’s Treasury Holdings: $49,251,125
- Current Month Treasury Holdings: $67,109,851
- Variance ($17,858,726, 36.26%): Mainly influenced by the fluctuating price of the token, which saw an upturn last month, and compounded by the effect of our monthly operating expenses across all workstreams, amounting to $633,758.
Runway
The surge in the value of our treasury’s GTC holdings, largely influenced by GTC’s performance, has affected our Runway. At present, our Runway is projected to be 96 months (8 years), considering an estimated expenditure of $700,000 across the Business Units and the Ecosystem Collective.
The total GTC held within the DAO stands at $57,295,244, with each token averaging a value of $1.77.
Currently, our reliance on GTC is at 85.38%, underscoring the substantial impact of this token’s performance on our treasury. To mitigate associated risks and ensure financial resilience amid market fluctuations, it is crucial to diligently monitor and explore strategies for diversifying our treasury holdings.
Last Month’s Expenditure: Our spending for the prior month amounted to $633,758, showcasing a praiseworthy decrease of 14.74% (equivalent to $109,585) from our expenditure of $743,343 the month before. This disciplined adherence to the budget highlights our unwavering dedication to efficient resource allocation.
May*
- Figures ran on June 4 2024
April*
- Figures ran on May 6 2024
Token spend in May
During May, our total expenditure in USD reached $633,758. This breakdown comprises $568,220 in USDC, 29,382 GTC valued at $37,772 and $27,766 in USDC on Rain.
Key Financial Insights May
Total Contributor Costs
- The total expenses associated with contributors, encompassing both full-time team members and part-time support (including headcount and external consultants), stand at $551,135. This marks a decrease of $81,953, representing a reduction of 12.94% from last month.
Other Notable Operating Expenses
- Software & Subscriptions: $64,865. The primary driver behind this expense was the annual payment for Hubspot ($34,008).
- Travel, Lodging, and Meals: $186. However, it is noteworthy that the workstreams received reimbursement from the CSDO for the Lisbon Off-site, entitled to $49,917, reflecting the team’s expenditure, exclusive of the amount provided by the Foundation.
- General and Administrative: $17,571, encompassing certain payments related to marketing expenses.
This breakdown underscores our commitment to prudent and efficient spending, resulting in significant savings across various expense categories.
Summary
- May’s budget does not include any allocation for Grant Lab, as it does not have a budget for this month.
Monthly Breakdown
May
| Actuals | Actuals | Variance | % Difference | |
|---|---|---|---|---|
| Headcount | $513,779 | $564,744 | -$50,965 | -9.02% |
| Other Consultants | $37,356 | $68,344 | -$30,988 | -45.34% |
| Software & Subscriptions | $64,865 | $26,464 | $38,402 | 145.11% |
| Travel, Lodging and Meals | $186 | $11,124 | -$10,938 | -98.32% |
| General and Administrative | $162 | $1,330 | -$1,167 | -87.78% |
| Miscellaneous | $17,409 | $71,337 | -$53,929 | -75.60% |
- Subscription increases represent the annual fee for Hubspot.
Breakdown by business unit / workstream:
The Ecosystem Collective demonstrated exceptional financial efficiency by operating substantially below budget, with expenses totaling only $190,743, well below the allocated budget of $260,013. Despite significant expenditures throughout the month, the Ecosystem Collective effectively managed to conclude May with considerable breathing space within budget constraints.
- January and February represent MMM workstream performance.
In the Grants Lab business unit, expenses amounted to $235,473. May’s financial overview demonstrates a notable decrease in total expenditure compared to the previous month, despite the lack of a formal budget.
- January represents Grants Stack workstream performance.There is no budget for May.
Within the Passport business unit, $207,542 was expended out of the allocated budget of $233,482, leaving $25,940 unutilized. Despite initial expectations of increased infrastructure costs, the Passport BU effectively managed May, comfortably finishing the month below budget.
