Treasury Status Proposal
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Thanks for the great discussion, everyone. The idea of focusing on RWAs definitely seems promising, especially given the current market trends. Before we dive in, though, how much funding do we actually need to get the first mainnet route up and running? Knowing this will help us figure out our next steps and how to best raise the funds.
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Given the current development status of the project and the necessity to sustain its presence in the market, it is crucial to secure additional funds for the treasury. These funds are essential to maintain basic operations and to achieve existing milestones. We urgently need to implement measures to increase treasury funding. Concurrently, it is important to accurately track supporter contributions to ensure that community members are appropriately rewarded for their investments.
For the funding required until the mainnet launch, we estimate that an ideal amount would be at least $1 million. This will enable us to complete all necessary audits, recruit additional contributors, and achieve significant milestones, such as integrating more ecosystems and onboarding additional projects, ensuring a 12-month operational runway.
Feedback from researchers and venture capitalists indicates that we also need to enhance our growth capacity across multiple market cycles, both bullish and bearish. This capability is currently lacking in our deck. While RWA present an exciting opportunity, the infrastructure is not yet mature. In addition to developing RWA infrastructure, we must also focus on trends in this market cycle, such as non-EVM chains like Solana, TON, Near, and SUI. Establishing our identity within this cycle is vital for business growth and will lay the foundation for achieving our long-term RWA milestones.
Key action items include:
- Develop a comprehensive funding proposal that involves DAOs, community members, and venture capitalists, and establish a public funding channel.
- Continuously update our pitch deck and narrative based on feedback, ensuring it supports growth across multiple market cycles.
- Onboard more projects for partnerships to increase Continuum's credibility.
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To be clear - we won't get VC funding unless we present a UNIQUE and INNOVATIVE proposition for funding. They are interested in backing the next unicorn, not another cross-chain interoperability protocol. We may get some backing from other sources such as DAOs, crowd funding and private funding, but I'm not sure we will get 1 million USD.
Regarding performance across market cycles, let's not forget that stable coin based RWA strategies are favoured in bear markets.
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Great discussion so far! I totally agree that focusing on RWAs could be a smart move, especially with how the market is shifting. That said, I think we need to be realistic about our current situation. While the RWA direction is exciting, we should maybe consider breaking it down into smaller, more manageable goals to show some early wins and build momentum. This might help with both VCs and other funding sources.
Speaking of funding, I think it’s definitely worth looking into other options beyond VCs. Maybe some kind of crowdfunding or partnerships with other DAOs? It could give us some breathing room and keep things moving.
Curious to hear what everyone else thinks!
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@Selqui I have been thinking about this. We appear to have a burn rate of 20k/mth atm. I suspect our current DAO community is able to put together another six months or so or funding since it's not a huge amount - until we find other sources. Is crowdfunding an option?
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@Raini-Ng Crowdfunding is an option, though we need assistance from someone who has experience in organising this. The real funding issue is that we need money for the code audit and listing on a CEX before we can go to mainnet and this could be a substantial amount, even if we limit the code we audit to MPC code, C3Caller, veCTM. Unfortunately this is not cheap and is why Jerry mentioned the figure of 1 million. Let's see how our new deck and RWA focus goes down with VCs.
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I think in general it is a very wise idea to first target 1 market segment and completely dominate that segment before we move to another segment. If that first segment is RWA because of narrative and momentum, i'd say we go for that.
This has large advantages in terms of communication, marketing & sales as well. Easier to distinguish our selves ('branding') from others. Targeting everything with a small team and budget usually means nothing is really effective.
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Hi is there a updated I missed so far ? I am a fan of the project and curious 🥸
