SPS DAO Treasury Report
Below, please find the updated DAO treasury report for July, 2023. Going forward, a new treasury report will be published at least once per year, or whenever there are significant changes to the DAO treasury balances.
As a reminder, the DAO treasury still holds assets in three wallets across four platforms (in-game, Hive Engine, Ethereum, and BNB Smart Chain). This has not changed since the previous report. The wallet addresses with links to explorers to view the assets on the various blockchain platforms are listed below.
- In-Game -
@sps.dao(https://api2.splinterlands.com/players/balances?username=sps.dao) - Hive Engine -
@sps.dao(https://hive-engine.com/@sps.dao/wallet) - Ethereum -
0xb951679DB9E0cA31059e7528A82A756Ecb918519(https://debank.com/profile/0xb951679DB9E0cA31059e7528A82A756Ecb918519) - BNB Smart Chain -
0xdf5Fd6B21E0E7aC559B41Cf2597126B3714f432C(https://debank.com/profile/0xdf5Fd6B21E0E7aC559B41Cf2597126B3714f432C)
The total DAO holdings split out by token (excluding small amounts) is shown in the table below. This includes the sum of all of the tokens held in DAO wallets across all platforms and includes tokens that are liquid, staked, and paired in liquidity pools.
Please note that the numbers shown below represent the values at the time of writing and both the USD value and holding amounts may vary significantly as token prices and LP positions change.
| Token | Holdings | Approx. USD Value | Exchange Rate |
|---|---|---|---|
| SPS | 180,225,441 | $3,964,959 | $0.022 |
| DEC | 42,020,001 | $32,775 | $0.00078 |
| USDC/T | 574,824 | $574,824 | $1 |
| BUSD | 73,386 | $73,386 | $1 |
| ETH | 327.62 | $609,702 | $1,861 |
| BNB | 1,478 | $351,965 | $238 |
| HIVE | 116,251 | $40,920 | $0.352 |
Total Non-SPS Treasury Holdings: $1,682,797
As you can see, the DAO treasury currently holds roughly 16.5% of all SPS in cirulation, and roughly 40% of all liquid SPS. Additionally, the DAO treasury holds roughly $1.65M USD (at current market prices) of non-SPS tokens. The non-SPS funds mostly represent the remaining amount from the initial SPS private sale back in July of 2021.
LP Positions
The following table shows the LP positions currently held by the DAO treasury. As mentioned above, this information is as of the time of writing and will change constantly as token prices move and users make swaps in the pools. All of the token balances in this table are also accounted for in the totals shown above.
| Platform | Pool | Token 1 | Token 2 | Approx. USD Value |
|---|---|---|---|---|
| PancakeSwap V2 | SPS-BNB | 1,380 BNB | 14,475,892 SPS | $655,239 |
| Uniswap V2 | SPS-ETH | 31.26 ETH | 2,528,536 SPS | $116,572 |
Please note that the DAO treasury wallets are currently excluded from earning any SPS rewards for its LP positions. This will be changing in the near future as a result of the following governance vote that recently passed: https://peakd.com/@nebulusx/sps-governance-proposal-turn-on-dao-lp-rewards.
Changes From Last Report
Below are the list of significant changes to DAO treasury balances since the last report, not including the regular monthly SPS distributions to the DAO or regular adjustments in LP position sizes due to market price fluctuations.
- In 2021 the SPS Foundation entered into a contract with a market maker to provide liquidity on various centralized exchanges on which the token was listed. This contract was recently terminated which led to 200k USDT and 14M SPS being returned to the DAO which was initially provided to the market maker to use for providing liquidity. Another 1M SPS is still due to be returned.
- 30,500 BUSD was provided for a contract with a new market maker earlier this year
- 33,283,891.22 SPS tokens were sent to the DAO on 7/25/23 from unclaimed SPS airdrops as specified in this governance proposal: https://peakd.com/@splinterlands/sps-governance-proposal-end-sps-airdrop-claims-and-send-unclaimed-sps-to-dao
- Approximately 42M DEC has been earned by the DAO for sales of Riftwatchers packs since the following governance proposal was passed to price RW packs in DEC: https://peakd.com/@yabapmatt.sps/sps-governance-proposal-price-riftwatchers-packs-in-dec
Nice to see the contract earnings. Way to go DAO!!!
Good job on the update as well, this kind of information is very helpful to create confidence and trust for our future!
These reports are extremely useful. If it's not too much work, perhaps it's worthwhile to do one per quarter instead of per year, so that people always have a good view of the current situation whenever a proposal is voted upon?
Thanks for sharing these updates. While it was indicated this will happen at least once per year, I think it would be nice to see this at the end of each quarter. The summary section at the end is most helpful in addressing the changes over the year.
Agree, quarterly makes sense considering that is the frequency that most companies would produce financials.
Is 42M all from RW sale or from both RW sales and 1% fees that is now collected at every sale. The cryptoeater proposal which was passed and implemented earlier?
Definitely both. The total holdings of DEC is 42M which means it has to include fee income.
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Absolutely want to keep seeing these reports at least on a quarterly basis. These provide a lot of transparency which is dearly needed in the crypto space.
Are these reports still going to be a thing or is the UI in splinterlands able to show this now? Seems to be a major missing info factor for saying yes or no to proposals rolling forward.