Treasury Report, October 23rd

Swingby’s spending and runway

Image for post
Image for post

Community Reserve (15/10/2020)

Below is a list of addresses that make up the community reserve pool. Balances listed as ‘Unavailable’ are either time-locked, frozen or unusable since they are set to be released at predetermined dates as described in the official tokenomics schedule that was released to the public prior to launch.

Image for post
Image for post

The current ‘Amount Available’ may seem low, but this is because of 2 different reasons: Firstly, only 8,000,000 tokens were initially unlocked and secondly, the majority of that 8,000,000 has been reserved for providing liquidity for the community. If we were to include the amount of tokens reserved for liquidity, then the ‘Amount Available’ would be closer to 4.5M.

Image for post
Image for post

As you can you see in the token emissions schedule the community reserve will receive another unlock towards the end of this month.

Spending (since TGE ~ 15/10/2020)

Ignoring the fiat/stablecoin transactions from the foundation, which will be covered in a separate article, the spending is outlined as follows:

Image for post
Image for post

Since the private round, Swingby has received strategic investments from multiple partners adding up to over $300k. However, these investment were settled with an agreed upon vesting schedule, meaning that the tokens are incrementally unlocked. As you can see in the above chart, 574,442 tokens were distributed in early August.

Project Runway

The Project runway has sufficient funding in order to operate for well over 18 months with its current budgeting.

Image for post
Image for post

However, with the up and coming test launches, new listings, rebranding and partnership announcements we suspect that the increase in interest in Swingby could support a longer runway.

Want to trade Swingby? Check us out on CoinGecko or CoinMarketCap.

Get Rewards! Stake your Swingby tokens to earn up to 52% annualized (67% compounded) in rewards, airdropped to your wallet weekly. Use the Staking Portal or BitMax.

TestNet Explorer: bridge-testnet.swingby.network/explorer
Staking Program: stake.swingby.network/token/SWINGBY

Discord: https://discord.gg/q3cAjpV
Telegram: t.me/swingby
Twitter: twitter.com/SwingbyProtocol
GitHub: github.com/SwingbyProtocol

Written by

The fastest protocol for cross-chain swaps, allowing DeFi users to move assets between blockchains without the need for a trusted party. https://swingby.network

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store