MKR Budget Simulator - Dashboard v2.xlsx

	A	B	C	D	E	F	G	H	I	J	K	L	M	N	P
1
2		MakerDAO Budget Simulator
3		Based on this post		Reach out to @Aes if you want to make simulations and understand how it works
4
5		Params				Rolling 12m Revenue Fcst
6			Baseline?	Worst Case?		Type	Fcst
7			Budget	Actual		Interest	35,360,000
8		Annual revenues	48,044,222	48,044,222		Liquidation	10,569,696
9		MKR Price	2,250	2,200		Trading	2,114,526
10		Gas price (G in $)	204,000	204,000		Total	48,044,222
11		DAI end of period	5,000,000,000	5,467,201,255
12		Starting SB	48,200,000
13		Expense allocation (DAI)	24,022,111			2021 Revenue Breakdown
14		MKR outstanding	907,328			Type	JunYTD	To Go	6+6 Fcst
15		Target Leverage Ratio	3.00%			Interest	47,280,070	17,680,000	64,960,070
16		Target CET1 Ratio	4.50%			Liquidation	15,123,086	5,284,848	20,407,934
17						Trading	3,821,898	1,057,263	4,879,161
18						Total	66,225,054	24,022,111	90,247,165
19
20		Core Units Budgets
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22		Name						MKR Cost		Total Cost		% of Expenses (Budget)	Gas cost (DAI)
23		Name	Status	Base (DAI)	FTEs	MKR per HC	Total MKR	Budget	Actual	Budget	Actual	% of Expenses (Budget)	Budget	Actual
24	173333	GovAlpha	Accepted	2,080,000	8.0	80	640	1,440,000	1,408,000	3,520,000	3,488,000	7%	-	-
25	155000	Real-World Finance	Accepted	1,860,000	7.0	80	560	1,260,000	1,232,000	3,120,000	3,092,000	6%	-	-
26	182000	Risk	Accepted	2,184,000	7.0	80	560	1,260,000	1,232,000	3,444,000	3,416,000	6%	-	-
27	510000	Protocol Engineering	Accepted	6,120,000	16.0	250	4,000	9,000,000	8,800,000	15,120,000	14,920,000	28%	-	-
28	419677	Oracles	Accepted	5,036,125	15.5	68	1,051	2,365,223	2,312,662	12,401,348	12,348,787	23%	5,000,000	5,000,000	Current run rate is $2M/yr
29	384493	SES	Accepted	4,613,920	8.9	62	550	1,237,946	1,210,436	5,851,866	5,824,356	11%	-	-
30	312650	Growth	Accepted	3,751,800	7.7	86	660	1,484,753	1,451,758	5,236,553	5,203,558	10%	-	-
31	67067	Content Production	Formal Sub	804,800	5.3	60	315	708,750	693,000	1,513,550	1,497,800	3%	-	-
32	40500	GovCom	Formal Sub	486,000	3.0	40	120	270,000	264,000	756,000	750,000	1%	-	-
33		Collateral Onboarding	Rejected	-	-	-	-	-	-	-	-	0%	-	-
34		Strategic Marcomms	Rejected	-	-	-	-	-	-	-	-	0%	-	-
35		Maker Portfolio	RFC	339,000	-	-	-	-	-	339,000	339,000	1%	-	-
36		DAI Foundation	RFC	2,554,358	-	-	-	-	-	2,554,358	2,554,358	5%	-	-
37		Total		29,830,003	78	805	8,456	19,026,671	18,603,856	53,856,674	53,433,859	100%	5,000,000	5,000,000
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39
40		MakerDAO PnL (Rolling 12 months)					Surplus Buffer				MKR outstanding
41
42		Metric	Budget	Actual			Metric	Budget	Actual		Metric	Budget	Actual
43		Revenues	48,044,222	48,044,222			Starting SB	48,200,000	48,200,000		Starting Position	907,328	907,328
44		Expenses	53,856,674	53,433,859			Target SB	150,000,000	164,016,038		Workforce	8,456	8,456
45		Net income	-5,812,452	-5,389,637			Ending SB	61,414,219	61,414,219		MKR Burn	0	0
46		Non cash expenses	19,026,671	18,603,856			Leverage Ratio	1.23%	1.12%		End position	915,784	915,784
47		Cash generation	13,214,219	13,214,219
48			-12%	-11%
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