Introducing Financial statements for DAOs
A new era in fundamentals-based cryptoasset investing has begun.
- What? Real-time financial statements for DAOs.
- Why? The unique property of blockchains is that business data is made accessible in near real-time.
- So what? Investors have access to extremely detailed information about the financial performance of a DAO, and now in a TradFi-friendly format!
How to read the Financial statements:
1. GMV (project-specific metric)
- Trading volume / Transaction volume / Active loans / Assets staked / AUM / Capital deployed: How much capital has been put to work?
2. Income statement
- Fees: How much fees has the GMV generated in total?
- Supply-side fees: What % of Fees have been paid to liquidity or service providers?
- Revenue: What % of Fees have been captured by the DAO?
- Token incentives: How much (in tokens) has the DAO paid to acquire users?
- Earnings: How much of the Revenue is left after subtracting the Token incentives?
- Treasury: What are the retained Earnings of the DAO & value of unallocated governance tokens?
4. Market data
- Price: What’s the price of the DAO’s governance token?
- Fully diluted market cap: What’s the DAO’s market cap, when considering the max. supply of tokens?
- Circulating market cap: What’s the DAO’s market cap, when considering the freely tradable supply of tokens?
- Token trading volume: What’s the trading volume of the DAO’s governance token?
- Tokenholders: How many unique owners does the DAO have?
5. Valuation multiples
- P/F ratio (fully diluted / circulating): How is the DAO valued in relation to annualized fees?
- P/S ratio (fully diluted / circulating): How is the DAO valued in relation to annualized revenue?
6. Alternative KPIs
- Daily active users: How many unique addresses have interacted with the DAO’s business-relevant contracts?
- Active developers: How many unique GitHub users have made 1+ commits to the DAO's public GitHub repositories within the prior 30-day period?
- Code commits: What’s the total number of commits to the DAO’s public GitHub repositories?
We're really excited about this feature & happy to hear what you think!
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