Metrics DAO Treasury Report
July 2022
Overview
As we open up Season 2 of MetricsDAO, we are in a prime position to improve on our standard operating procedures. On a similar note, we have received a fresh inflow of capital from the Flipside team, via our governance proposal found here. We believe that this proposal was necessary to secure the MetricsDAO runway as we continue to build out our business development pipeline and push towards our protocol launch in 2023. Following the successful vote on this proposal, we received the full value of this loan ($250,000) in USDC.
Additionally, we received grants from both Messari and AAVE for continued and future bounty work, respectively. We look forward to continuing our relationship with these two teams. As for outflows, we continue to pay out our contributors and bounty hunters to the tune of over $35,000 in USDC.
Overall, our treasury is in a solid position to drive DAO growth throughout the rest of the year. We will continue to look for opportunities to expand our partner set through grants focused on both data curation and analytics/research.
Treasury & Balance Sheet
Treasury Portfolio Value
Due to the market downturn in May/June, we saw our treasury asset values decline in value. That, coupled with a dried up grants pipeline caused our treasury value to fall to $12,767.30 for the month of June. Thankfully, through our Flipside loan and secured partnerships with Messari and AAVE, we saw our treasury swell to $254,052.96:
| Token | BoM | Incoming | Outgoing | EoM | Price EoM | $ Balance EoM | Portfolio Weight |
|---|---|---|---|---|---|---|---|
| AAVE | 0.00 | 129.00 | 0.00 | 129.00 | $98.94 | $12,763.03 | 5.02% |
| ETH | 0.72 | 0.12 | 0.29 | 0.56 | $1,688.71 | $938.15 | 0.37% |
| FRZ | 6000000.00 | 0.00 | 0.00 | 6000000.00 | - | - | - |
| OHM | 128.08 | 0.00 | 0.00 | 128.08 | $15.00 | $1,921.20 | 0.76% |
| UNI | 113.32 | 0.00 | 0.00 | 113.32 | $8.42 | $954.15 | 0.38% |
| USDC | 7285.94 | 265636.48 | 35446.00 | 237476.42 | $1.00 | $237,476.42 | 93.48% |
| $254,052.96 |
Assets
“Money Owned”
Balance sheet asset values as of 07/31/2022 total $567,303.52:
Metrics DAO
Balance Sheet
7/31/2022
Assets
Current Assets:
Cash and Cash Equivalents
AAVE 12,763.03
ETH 1,688.71
FRZ -
OHM 1,921.20
UNI 954.15
USDC 237,476.42
Accounts Receivable
AAVE 12,500.00
LUNA 300,000.00
Total Current Assets 567,303.52
Total Assets 567,303.52
Cash and Cash Equivalents
MetricsDAO considers all assets residing in the metricsdao.eth GnosisSafe as liquid cash and cash equivalents; as of 7/31/2022, MDAO’s total liquid assets are valued at $254,803.531.
Accounts Receivable
In addition to the assets residing within the multi-sig, MetricsDAO has numerous Accounts Receivable, totaling $312,500, from existing and pending grants programs. Total token allocations of Accounts Receivable are determined based on token price on delivery date. Our AAVE balance reflects our second installment of the grants program.
Our LUNA value is derived from a pending governance proposal with TFL to secure a data curation and analytics grant estimated at ~$300,000.
Liabilities
“Money Owed”
Balance sheet liability values as of 7/31/2022 total $278,859.20:
Liabilities
Current Liabilities:
Accounts Payable
Monthly Contributors 24,224.20
Outstanding Invoices 4,635.00
Total Current Liabilities 28,859.20
Long-term Debt
Flipside Loan 250,000.00
Total Liabilities 278,859.20
Accounts Payable
MetricsDAO’s main Accounts Payable for July is our monthly salary expenses for MDAO contributors. Additionally, we have an outstanding invoice to H3L for MDAO website design. Additionally, despite the loose payback term from our Flipside loan, we will report this long-term liability and report on any efforts to pay this back when those conversations kick off.
Looking Forward
As Season 2 gains momentum, one thing at the top of the Treasury team’s mind is more transparency into bounty budgeting. The main goal of MetricsDAO is to unlock community-enabled data curation and analytics on a massive scale. However, we have to remain aware of treasury health when paying out bounty submissions. With that in mind, we will experiment with different bounty pay scales in Season 2 and implement the best model moving forward into protocol launch.
Appendix:
- Full Balance Sheet
Metrics DAO
Balance Sheet
7/31/2022
Assets
Current Assets:
Cash and Cash Equivalents
AAVE 12,763.03
ETH 1,688.71
FRZ -
OHM 1,921.20
UNI 954.15
USDC 237,476.42
Accounts Receivable
AAVE 12,500.00
LUNA 300,000.00
Total Current Assets 567,303.52
Total Assets 567,303.52
Liabilities
Current Liabilities:
Accounts Payable
Monthly Contributors 24,224.20
Outstanding Invoices 4,635.00
Total Current Liabilities 28,859.20
Long-term Debt
Flipside Loan 250,000.00
Total Liabilites 278,859.20
Shareholder’s Equity
Retained Earnings:
USDC 288,444.32
Total Shareholder’s Equity 288,444.32
Total Liabilities and Equity 567,303.52
- Treasury Growth
- Balance Sheet Growth
