Runway Update
As outlined in prior forum discussions, the Treasure core team remains committed to delivering clear, transparent, and frequent updates on the DAO’s treasury and financial runway. While the quarterly Transparency Report has provided important insights, we recognize that the current cadence falls short of community expectations for more timely information. In response, we are transitioning to a monthly update schedule to ensure greater visibility and alignment with community needs. The next post will be 30th June.
Treasure’s treasury is composed of both stable and volatile assets, each serving a distinct role in supporting the organization’s operations. To provide stakeholders with a transparent and realistic assessment of financial sustainability, we present separate runway forecasts for:
- USDC and fiat-equivalents, which offer stable and immediately liquid funding for predictable, ongoing expenses.
- MAGIC, which, while a valuable part of our treasury, is subject to market volatility and strategic constraints on liquidation.
By distinguishing between these two categories, we ensure that runway calculations are grounded in both operational certainty and market-aware flexibility, offering a more accurate, scenario-driven picture of Treasure’s financial health.
Spending projections are based on forecasted expenditure following recent structural changes, giving a forward-looking view of Treasure’s financial position. This approach allows us to present the most accurate picture of organizational sustainability and long-term viability.
Stablecoin Runway
1. Included Treasury Holdings
The USDC balance includes all liquid stablecoin assets that are intended for operational expenditure, such as contributor compensation, infrastructure costs, and third-party services. Balances are provided at the closing of 14th of May 2025.
| Wallet | Asset | Balance ($) |
|---|---|---|
| L1 Bridgeworld Treasury | USDC | 948,450 |
| L1 Operations Account | USDC | 85,979 |
| L1 Treasury | USDC | 2,275,910 |
| Brex USD Account | USD | 617,704 |
| Darkbright recharge (April) | USD | 91,107 |
| Total | 4,019,150 |
2. Forecasted USDC Expenditures
The following expenditures are currently funded in USDC. These forecasts are based on expected monthly costs post-restructure.
| Expense Category | Monthly Forecast ($) | Notes |
|---|---|---|
| Payroll - Treasure Tech Foundation | 7,438 | Contributor Headcount = 8 |
| Payroll - Game Builders Services | May = 194,169 / June = 158,245 | May Headcount = 17 / June = 14 |
| Tooling costs | 36,138 | Infrastructure and software subscriptions |
| Market Maker Fees | 12,500 | Flowdesk retainer |
| Marketing Fees | 3,000 | |
| Legal Expenses | 5,000 | Flexible legal resource |
| Accounting & Consulting | 20,000 | |
| Event costs | 2,000 |
Total Forecasted Expenditure:
- May 2025 = $280,245
- June 2025 onwards = $244,321
3. Stablecoin Runway
Formula:
Stablecoin Runway (months) = Total Stablecoin Holdings / Forecast Monthly Stablecoin Expenditure
Runway:
15 months, lasting until September 2026
MAGIC Runway
1. Included Treasury Holdings
Only MAGIC holdings that are not explicitly earmarked for long-term initiatives or obligations are included in this forecast. This excludes wallets such as the Contributor Wallet, which has been allocated for token vesting. The estimated balance in USD is based on $MAGIC closing price as of 14th of May 2025.
| Wallet | Balance (MAGIC) | Estimated Balance ($) |
|---|---|---|
| L2 Marketplace | 43,139 | 8,387 |
| L2 Treasury | 2,913,245 | 553,516 |
| Community Grants | 650,797 | 123,651 |
| L1 Operations | 203,939 | 38,748 |
| Treasure Chain - Bridgeworld | 16,900 | 3,211 |
| Treasure Chain - Marketplace | 19,113 | 3,631 |
| Treasure Chain - Smol Treasury | 499,012 | 94,812 |
| Treasure Chain - Magicswap | 32,842 | 6,240 |
| L1 Treasury | 10,983,802 | 2,086,922 |
| Total | 15,362,789 | 2,919,118 |
2. Forecasted MAGIC Expenditures
The following expenditures are currently funded in MAGIC. These forecasts are based on expected monthly costs post-restructure.
| Expense Category | Monthly Forecast ($MAGIC) | Notes |
|---|---|---|
| TDC Compensation | May 2025 = 47,368 | Last month of funding |
| Payroll - Treasure Tech Foundation | 73,415 | From May 2025 onwards |
| Accounting & Consulting Expenses | 47,368 |
Total Forecasted Expenditure:
- May 2025 = 168,151 $MAGIC
- June 2025 onwards = 120,783 $MAGIC
3. MAGIC Runway
Formula:
MAGIC Runway (months) = Total non-earmarked MAGIC Holdings / Forecast Monthly MAGIC Expenditure
Runway:
126 months, lasting until November 2035
