Gitcoin June 2022 Financial Report
Llama presents the June 2022 Financial statement for the review of Gitcoin DAO. The intention of this report is to provide the users with a detailed understanding of treasury health, monthly spending and emissions of GTC.
Find above the Gitcoin DAO treasury report for June 2022. As with previous months, the statements are split into transactions denoted in the governance token $GTC and separate transactions in stablecoins. We have included a consolidated profit/(loss) account that translates the GTC transactions into $USD to allow for comparison in a denomination that can easily be relatable to many reading the report.
Highlights
- Total $ value of contributor rewards is up 76% MoM, which is a direct result of timing differences in payment made to contributors from differing workstreams. As can be seen both FDD and PG seem inflated, this is due to multiple payments being made within the month of June. Utilizing an average across the last 6 months we are able to share estimates of committed spend per work stream.
- Total Gitcoin treasury balance has decreased slightly from May, as a result of GTC token price depreciation. Llama has proposed with the core Gitcoin team a Treasury diversification. This intends to raise $3m in stablecoins. This should provide some stability to the treasury balance and ensure a certain runway in stablecoins. We have recently posted the GTC runway analysis which should be reviewed by all members of the DAO.
- The consolidated income statement shows total contributor rewards YTD of $3.9m
We would like to ensure we are staying up to date on what Gitcoin DAO finds most valuable from a Financial reporting and analytics perspective. We have created a google form that DAO members can complete to provide comments and feedback. Please do take the time to complete this, it really helps us identify the issues key to the DAO and how we can assist in providing information to help.
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