This report provides a detailed overview of the DAO’s financial performance for September 2024, including an overview of our treasury position.
Operational Expenses:
- Total Spent for September: $470,497
- Change: Expenses were in line with August costs ($469,706) and below the estimated budget for the month ($523,208).
Treasury Holdings:
- Current Month: $23,891,107
- Last Month: $24,924,563
- Variance: Decrease of $1,033,456 (4.15%)
- This change is primarily due to the grant to Wonderland for 1.5M GTC tokens over 4 years - deployed during the month -, as well as fluctuations (+13.43%) in token prices and our monthly operating expenses (-$470,497).
Treasury Overview by Material Assets:
| Asset | Amount in USD | Balance (Token) | % of Treasury by USD |
|---|---|---|---|
| GTC | $15,016,334 | 21,706,518 | 62.85% |
| USDC | $7,348,199 | 7,350,239 | 30.76% |
| RAD | $775,510 | 680,272 | 3.25% |
| ETH | $399,682 | 149 | 1.67% |
| OP | $260,699 | 148,971 | 1.09% |
| DAI | $65,515 | 65,536 | 0.27% |
| USD | $18,852 | 18,852 | 0.08% |
| USDT | $4,999 | 5,003 | 0.02% |
| ENS | $1,317 | 72 | 0.01% |
| Total | $23,891,107 | 29,975,612 | 100.00% |
- Figures ran on October 21, 2024
Runway Projection:
- Current Runway: Estimated at 49 months (approximately 4 years), based on current holdings and average tokens’ prices.
GTC Holdings:
- Our DAO’s treasury currently holds $15,016,334 in GTC tokens (21.7M GTC), accounting for 62.85% of our total treasury. This highlights the significant influence of GTC’s performance on our overall financial stability.
Current Treasury
- Figures ran on October 21, 2024
Key Financial Insights September
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Total personnel costs, including full-time team members, part-time support, and external consultants, amounted to $458,243. This represents an increase from the previous month’s expenses of $448,490. The rise is attributed to a few positions that were not budgeted at the DAO level, as well as the additional costs associated with processing these positions through Deel.
-
Software & Subscriptions: $10,250. This reflects a reduction of $10,864 from last month. However, it is slightly over budget due to an underestimation of AWS costs, which is currently under review and may be corrected.
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Miscellaneous: $2,004 - Coaching expenses.
Budget Vs. Actuals
In September, we noted an unspent amount of $52,711 from our budget, which is a positive sign of our financial health. This conservative approach helps ensure we can cover our monthly expenses.
Monthly Breakdown
September
| Operating Expenses | September 2024 | |||
|---|---|---|---|---|
| Actuals | Budget | $ Variance | % Variance | |
| Headcount | $304,513 | $326,943 | -$22,430 | -6.86% |
| Other Consultants | $153,730 | $175,079 | -$21,350 | -12.19% |
| Software & Subscriptions | $10,250 | $8,436 | $1,814 | 21.50% |
| Travel, Lodging and Meals | $0 | $2,000 | -$2,000 | -100.00% |
| General and Administrative | $0 | $0 | $0 | 0.00% |
| Miscellaneous | $2,004 | $10,750 | -$8,746 | -81.36% |
| Total Consolidated OpEx | $470,497 | $523,208 | -$52,711 | -10.07% |
Breakdown by business unit / workstream:
The restructuring of the DAO (formerly known as Ecosystem Collective) led to forming a small team focused on delivering results.
The expenses of this business unit totaled $40,448 in September, $19k above budget (the overspend is attributed to an unbudgeted HC position, as well as additional costs associated with processing this cost through Deel). See below the cost breakdown:
Headcount: $38,312
Software & Subscriptions: $2,136
- January and February represent MMM workstream performance.
Grants Lab business unit’s expenses totaled $430,049 in September, $72k below budget (primarily due to 2 open positions and lower consultant and software expenses). See below the cost breakdown:
Headcount: $266,201
Other Consultants: $153,730
Software & Subscriptions: $8,114
Miscellaneous: $2,004
- January represents Grants Stack workstream performance. There is no budget for May and June.