Overview
This report provides an update on Salvium’s treasury activities for Q3 2024 (July 1 – September 30). It covers income, expenditures, and our ongoing strategy for responsible treasury management.
Treasury reports will be issued quarterly during normal operations. During this quarter, an intimidary update was issued in August 2024, to notify the community that unused funds would be locked.
Treasury Unlock Schedule
As outlined in our lite paper, 15.6 million SAL (8.48% of the total supply) were pre-mined for operational funding, to be unlocked in 24 monthly installments of 650,000 SAL each.
Q3 consisted of 3 x 650k unlocks totalling 1.95m Sal.
However – as per the August update, 650k has been locked for another 2 years.
See this post for further details.
https://salvium.io/treasury-aug24/
Q3 Summary
Income
- 3 x 650,000 SAL unlocks (July, August, September)
- Total: 1,950,000 SAL
Outgoings
- 650,000 SAL locked for ~2 years (August tranche)
- 400,000 SAL converted to USDT for exchange listings (past and future)
- 100,000 SAL: Dev Ops (12 mth pre-payment)
- 29,989 SAL: Marketing / Design
- 95,017 SAL: Community Managers
Total Outgoings: 1,275,006
Note: USDT conversions are done via OTC deals to minimize market impact.
Current Balance
USDT: $55k
SAL: 674,994
Treasury Management Strategy
- Project funds are not yet being fully utilized to avoid putting pressure on the current low-liquidity market.
- We are considering additional locks of unused funds.
- Funds are being allocated for future exchange listing budgets.
Ongoing Allocations
It is expected that future allocation will be split roughly:
- 60% allocated to development
- 20% allocated to partnerships and exchanges
- 20% community and marketing.
Transparency and Governance
We remain committed to transparent treasury management. All major decisions regarding fund allocation are made with Salvium’s long-term sustainability in mind.
