Financial reporting
April 2023
Legal disclaimer and general notes
This report is provided for informational purposes only, and does not constitute financial, investment, legal, regulatory, or tax advice. The author(s) and ENS cannot guarantee the accuracy of data and information contained in the report, which is provided strictly on a best efforts basis. References to assets are made for informational purposes, and are not a recommendation, offer to sell, or solicitation of an offer to buy any asset. Content, data, or assessments provided in this report are subject to change without notice.
This report include certain forward looking statements; such statements face a high degree of uncertainty and are not a guarantee or promise of future performance or events. Author(s) and the ENS are materially relying on waiver of liability as a condition of providing this report. By accessing the content herein, readers agree to indemnify and hold harmless author(s) and ENS against any and all claims.
This presentation is provided as is and is still a work in progress and shouldn’t be relied on for anything.
M2M means mark-to-market the reevaluation due to a price change of an asset or liability.
All prices are taken at end of day, this can lead to some discrepancies and Swap P&L.
Most data are sourced from Dune Analytics.
EXECUTIVE SUMMARY
Queries have 100% functionalities, errors can still be there and conversion to the the DuneSQL new still TBD
Revenues > cash burn
Cash in > cash burn
82 months runway
100% invested in productive assets end of month
Projected swaps of earned ETH for stablecoins finished (7000 ETH swapped for USDC and DAI)
sETH2 investment delayed due to new version of the token coming soon and Shapella upgrade
Revenues and cash
vs $3.1M last month
vs $1.4M last year
vs $1.7M last month
vs $7.8M last year
1.6x cash burn
Cash burn and reserves
vs $0.8M last month
vs $0.5M last year
vs $77M last month
vs $55M last year
of which:�- 51M ETH
- 28M USDC
Normalized burn is a weighted average over the last twelve month with a weight of 12 for the current month decreasing to 1 twelves month ago. Cash buen doesn’t include ENS token given.
Endowment
$12.7M stablecoins invested
$17.1 ETH invested
of which:�- $890k from ETH M2M
- $70k from swaps (1)
- $66k from returns (2)
(1) swaps from ETH to USDC accounted at EOD prices, doesn’t count as “performance”
(2) count token yield farming rewards when claimed and converted to base currency
Annex 1 - Balance sheet
Annex 2 - Income statement
Annex 3 - Long term financials
Income statement doesn’t show Short Name Claims but they are accounted for in the aggregate.�Other expenses for 2021/2022 are ENS airdrop.
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