- The Tangle Community Treasury’s current value stands at $824,043 USDT, with an estimated operational cost of $99,126 USDT until the end of 2024.
- Emphasizing strategic grant funding, the treasury decides to focus on solid Tier II proposals this quarter, foregoing Tier I reviews.
Unfolding the Treasury’s Q3 Dynamics
In a recent series of updates, the Tangle Community Treasury, under the helm of @Deep_Sea_Iotan, presented a candid snapshot of its financial position as it concludes its third quarter. The current treasury valuation, influenced by the prevailing $SMR price, is pegged at $824,043 USDT.
The Tangle Community Treasury looks forward to seeing how https://t.co/iToaaduOz6 can further modernize the digital financial system and improve the efficiency and accessibility of global supply chains.
We also were impressed with the support from the UAE Ministry of Economy.
— Tangle Community Treasury (@TangleTreasury) October 11, 2023
With the term set to culminate in 2024, the projected operational expenditure is approximately $99,126 USDT. Alongside, there are commitments towards approved grant payouts amounting to $322,855 USDT, having already disbursed $194,162 from a total approved sum of $517,017 USDT. Further earmarking includes $300,000 USDT set aside to bolster liquidity pools upon the establishment of a robust bridge for Shimmer EVM.
Strategic Grant Approvals and Alliances
The quarterly dynamics of the $SMR price have had a direct bearing on the grant funding. With the $SMR price hovering at $0.045 recently, the available funds for grants totaled $200,000 USDT. This precipitated a strategic discussion within the committee, leading to a pivotal decision.
Post deliberation, the consensus tilted towards concentrating on a few substantial Tier II proposals, deeming them to be of more strategic value. Consequently, the Tangle Community Treasury has resolved not to entertain any Tier I proposals for the remainder of this quarter. This maneuver not only ensures a judicious allocation of resources but also mitigates review-associated expenses, optimizing operational costs.
Further cementing its vision, the treasury greenlit a grant application from @FluentDAO. Fluent, steered by the seasoned entrepreneur, Bradley (@AllgoodFuturist), is at the forefront of pioneering deposit token infrastructures. These initiatives are tailored to refine International Trade Finance and Aid Delivery processes. This collaborative effort aims to introduce a native stable token, further enhancing the Shimmer network’s ecosystem.
Fluent’s Global Recognition
Fluent’s endeavors have not just remained confined to the crypto and blockchain circles. They have been recognized on global platforms like Zawya.com. Echoing the sentiments, HE Al Zeyoudi lauded the Fluent Economic Bridge, envisaging the transformative potential of digital currencies in revolutionizing the agility and accessibility of global supply chains. Fluent’s recent collaboration with the UAE’s Ministry of Economy’s NextGen FDI program further underlines its commitment and vision for a decentralized financial future.
