The Protocol Treasury
Over the course of this whitepaper the Protocol treasury has been mentioned often as a beneficiary and only once as a benefactor. Naturally it follows that over time the USDC in the treasury grows. So what do we do with it?
We view the protocol treasury as the liquidity we have to run our protocol with, like a business has funds to run its business with. Expenses we foresee include:
- Marketing costs.
- Costs to do a KYC and auditing costs.
- The costs of keeping the protocol and its website running.
- Salaries for employees, freelancers, and the team.
- Development costs for projects to expand our ecosystem.
- Angel investment into other projects that the team agrees on funding.
- Travel expenses and admission fees for conferences and business related travel.
- Equipment required to accommodate work for the protocol.
- Legal expenses and taxes in case we decide to expand to an actual company.
Although we are aware that on chain transactions are public, we will not publish the meaning behind those transactions. Our CFO will however ensure that all transactions are documented and accounted for. If necessary we will be able to provide insight into our financial doings to an investigating party.
The treasury belongs to the protocol, which means we won’t callously squander its funds on risky plays, but we do retain the right to make investments as we deem prudent with any of its with funds that we don’t expect to need anytime soon.