ContinuumDAO Expense Report

[Jerry]

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

1. 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.
2. 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.
3. Network Use Cases:
   • Decentralized Router Use-case: Theia
   • On-chain Governance SDK
4. 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.

[Apxymous]

Thank you for the expense report Jerry. Can you explain how veCTM is calculated? I see starting from February veCTM is been used for rewarding contributors.

[Jerry]

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.

[DeFi Penquin]

Great report.

This detailed transparency is crucial for maintaining trust and accountability within the community.

2 suggestions:

1. Integrate charts or graphs to represent the expenditure breakdown
2. 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