THORChain
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THORChain

Monthly Treasury Report — May

THORChain Budget and Runway Report for May 2020

Treasury

The treasury has been increased to $6.2m, sufficient for a +32 month Runway. Community grants can be allocated. An additional audit is being scoped, capped at $125k.

The Community Reserve is fully-allocated to RUNEVault, which will be capped at 1m per week.

Treasury

The treasury comprises of $2.0m USD liquid and $4.2m in RUNE, split between operational and community reserves.

The Community Reserve is healthy at 19m RUNE which is allocated to RUNEVault. The ongoing emission to the community is necessary to ensure that the original IDO could not be sybil-attacked and that distribution is wide. These efforts continue to pay off, with the RUNE asset being one of the most widely distributed on the Binance Chain network.

Runway

The current project runway has been increased to 32 months. All team members are paid 70% in USDT and 30% in RUNE for alignment with the project.

The team are positioning to increase hiring again.

Community Grants

The team are monitoring for community initiatives and are willing to fund a variety of projects if they meet the scope and alignment of the project goals. Examples are:

  • Telegram bots
  • Block Explorers
  • Wallets
  • Dashboards
  • etc

If you are interested in applying for a grant, please apply with the team.

Large Expenses

The team will allocate more funding for an additional infrastructure audit capped at $125k.

Summary

In summary the team’s treasury is healthy for the stage of the project and will allow a solid 24 month runway for the project.

This is more than sufficient to deliver mainnet.

THORChain Community

To keep up to date with the project, please monitor community channels, particularly Telegram, Discord and Twitter:

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THORChain

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The official team for THORChain — the decentralized liquidity network.

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