Toward the end of the document it says:
Conservatively speaking, Sovryn’s treasury (excluding SOV considerations) would provide for 2+ years of runway which the Exchequer Committee believes is sufficient in order to fully develop the platform broadly in accordance with the Black Paper.
Do I interpret this to mean that the current strategy is to spend down the treasury funds to a zero balance, with current runway being approximately 2 years, as opposed to an evergreen strategy that would try to live off the treasury balance forever?
Following on that question, does Exchequer have any thoughts they can share about how they think about financial sustainability for Sovryn i.e. how will the protocol be financing development, adoption, customer support, etc, 5, 10, 20 years from now, in particular, given that there’s currently a supply cap on SOV and all protocol fees are currently going directly to Bitocracy stakers with none retained by the treasury?
Also, in SIP-0015 it said:
Due to the immediate necessity of availability of the funds outlined in this SIP, it is proposed that the Exchequer Committee have one month to present a 12 month budget for approval, and in the interim period, the Exchequer Committee will have the mandate to utilize up to 10 BTC from the Sovryn treasury for ongoing expenses. A full accounting of these expenses will be presented as part of the overall budget.
I note first that the budget took two months to produce, one month longer than was approved in the above-quoted section of SIP-0015. This isn’t unreasonably long overdue, however for transparency could Exchequer comment on why the budget proposal is overdue by one month and what, if anything, Exchequer will do to stay within its self-imposed limits in the future?
Second, when will Exchequer make the full accounting of recent expenses available, which as quoted above SIP-0015 says “will be presented as part of the budget”?
@maxshapiro23 @Armando @yago