Treasury and upcoming on chain proposal

As part of our cash flow projections and planning we are now preparing to top up the multisig wallet with enough funds to cover the next 6 months of operations.

We have prepared a cash flow forecast for the upcoming year:

Let’s now talk through some of the key items here:

  • LP and Bonds
  • TopUps
  • Core team and Advisor allocation
  • Treasury Diversification

LP and bonds

As we embrace moving from a rented liquidity model to a Protocol owned Liquidity (POL) we have budgeted 500K USD per month in order to purchase Liquidity on Pangolin. Currently we have purchased 100K worth of PGL through Olympus Pro. We will look to expand our offerings over the upcoming months from AVAX-PNG to include other pairs.

Top Ups

If you look at the screenshot above, you can see a section called On Chain Reserves. These are the funds that are held in our on chain treasury. These funds are only accessible by an on chain vote. So they can’t be included in our normal cash flow projection. As you can see there are periodic topups required in this forecast. The first topup will be for 6 million PNG at today’s price of 0.77 with topups added as required.

Important to take note that since the tokenomics has gone live, the on chain treasury is periodically being populated with PNG as seen in the “Treasury Vesting” line item.

Core team and Advisor allocation

From January we will be using SuperFluid in order to vest tokens to the core team and advisors. This will start with 30% of the total set aside for founders and advisors (6 million and 1 million PNG respectively). We will then add the other 70% of the vesting in December.

Treasury Diversification

As part of our treasury diversification, we will be setting aside funds in order to invest in early stage projects. We will be partnering with Aventures DAO in order to co invest in private sales.

The proceeds of these investments will then be allocated back to PNG hodlers.

As part of this projection we will be putting an on chain proposal up in the upcoming weeks to transfer 6 million PNG into the multisig in order to effect this strategy.

As always appreciate any thoughts and/or comments.

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