Gitcoin Runway Update

It’s been a while since we updated the community on the runway of our DAO, and in our continuous effort to decrease information asymmetry you can find our current estimations below. Thanks to @kyle, @ceresstation & @HelloShreyas 's earlier treasury diversification efforts we now hold over 8 million USDC in our treasury, which has increased our stable runway in case of a negative evolution of the markets. Thanks to @Jodi_GitcoinDAO for the support on the calculations.

We are currently working on a treasury dashboard that will make it easy for anyone to get the full overview, so consider the below as an intermediate solution.
On 12/19 we held assets with a total value of $64.865.609, at a GTC price of $1.37 (slightly higher than price at time of writing). $3,139,148 was sent to the workstreams at the start of Season 16, the currently available funds per workstream can be found on Tally under the header Gnosis safes.

image

The treasury or ‘timelock’ funds can be seen on Tally or here, locked tokens (vesting contract), can be seen here. An audit is currently happening on all funds available at the Foundation, more on this entity here.

Now, below you can find three scenarios, taking into account a similar burn rate over the next seasons. If the market remains stable, we have +5 years of runway, if it goes down 50% we have 3 years, in case of a 90% downturn we have 1 year and 2 months.

image

We will continue our efforts within Gitcoin to reduce costs and increase efficiency and keep the community in the loop as much as we can. More news is coming soon on topics like revenue generation, GTC utility, a reorganization of our DAO, and many other open discussions happening in CSDO and across our DAO (subscribe here, latest edition here). All of these should have a positive impact on our runway, in the meantime we hope this overview helps to alleviate concerns about the immediate health of our DAO.

10 Likes

Thank you, Kris for the updates!

We can see that it is very healthy for the GitcoinDAO treasury, well done, GitcoinDAO team!

2 Likes

Gitcoin clearly has enough tokens in it’s treasury to survive for at least a year without reducing it’s burn rate. I know that I’ve commented in a few places about the burn rate. I don’t think reducing burn is necessarily the right move though. I think the biggest problem is the velocity of quality deliverables getting shipped using the burn. Imagine if Gitcoin was as good at shipping protocols as fast and reliably as a projects it competes with. For example, if Gitcoin shipped as much quality work as Giveth proportional to it’s spend (10x more spend than Giveth = 10x faster), then it would be in a very good position by the next market upswing. Gitcoin would be unstoppable!