ContinuumDAO Expense Report
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Introduction
After months of dedicated development, we are pleased to present the ContinuumDAO Expense Report. This report offers a detailed breakdown of expenditures incurred over the past 7 months, encompassing contributors' payments, operational costs, and event expenditures. These financial insights are vital for maintaining transparency and accountability within our organization.
Total Expenditure
The total expenditure during the reporting period amounts to $393,349 USD + 2,787.5 veCTM. It's worth noting that USD payments are calculated based on the ARB exchange rate at the beginning of each month (1st at 00:00 UTC). This allocation of funds has empowered our contributors' group to achieve significant milestones, including the development of major products and the initiation of the testnet phase.
Major Achievements
- MPC Network Development:
- Programmable MPC Keys: Featuring Key Authority Isolation and enhanced On-Chain Trace Key Transparency.
- Anonymously Decentralized SMPC Network: Utilizing Public Keys as identification, with a Massive Global Network Communication capability, scalable to over 10,000 Global Nodes.
- Enhanced Security Model: Leveraging (TEE) and Proactive Security Strategies, including regular rotation through fragmentation.
- Decentralized Middleware - C3Caller:
- Facilitating seamless connectivity between EVMs and non-EVMs, with rapid integration capabilities across multiple chains.
- Implementation of fee charges based on "fee-per-byte" ensures cost-effective and secure interoperability.
- Governance of Key Access to C3Caller protocol is vested in the on-chain governance of ContinuumDAO.
- Chain Integration Status:
- Currently supporting 8 networks (Eth, BNB, ARB, OP, Blast, Merlin, Polygon, Areon).
- Aiming to support 20 networks for the public testnet.
- Targeting support for 100 networks by the end of 2024.
- Network Use Cases:
- Decentralized Router Use-case: Theia
- On-chain Governance SDK
- Expense Breakdown:
Month Expenses Details September 51,465 USD Contributors’ Rewards Total: 51,465 USD October 52,300 USD Contributors’ Rewards Total: 52,300 USD November 54,437 USD Contributors’ Rewards 346 USD Operations Fee Total: 54,783 USD December 57,343 USD Contributors’ Rewards 225 USD Operations Fee Total: 57,568 USD January 54,200 USD Contributors’ Rewards 160 USD Operations Fee 530 USD Branding & Community Growth Total: 54,890 USD Feb 54,800 USD + 250 veCTM Contributors’ Rewards 154 USD Operations Fee Total: 54,964 USD ; 250 veCTM March 56,650 USD + 2537.5 veCTM Contributors’ Rewards 9,709 USD Operations Fee 1,020 USD Branding & Community Growth Total: 67,379 USD ; 2537.5 veCTM Total: $393,349 USD ; 2,787.5 veCTM Conclusion:
In conclusion, this expense report reflects diligent financial stewardship and strategic allocation of resources within ContinuumDAO. The detailed breakdown of expenses and the enumeration of achievements provide valuable insight into the organization's progress and fiscal responsibility. We remain committed to transparency and efficiency as we continue to advance our mission and goals. Thank you for your attention to these financial matters.
- MPC Network Development:
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Hey @Apxymous thx for the question about veCTM!
Based on the treasury balance and the long-term development contributions, some contributors prefer to mix their payments with veCTM, currently valued at 1:1 to USD. To facilitate their participation in the governance process, we will prioritize the distribution of early vote tokens to these contributors. Additionally, in the near future, ContinuumDAO plans to airdrop the equivalent amount in veCTM to these contributors. -
Great report.
This detailed transparency is crucial for maintaining trust and accountability within the community.
2 suggestions:
- Integrate charts or graphs to represent the expenditure breakdown
- Incorporating insights into future financial planning based on current expenditure trends and forecasting how long the funds will last are excellent additions to your expense report
