🧑⚖️Budget
Brief breakdown of budget allocation.
Last updated
Brief breakdown of budget allocation.
Last updated
UPDATE: Our mint is now fixed at $88. Due to AVAX fluctuations in the market we wanted to ensure a baseline budget with options to invest in AVAX.
For example, during July Avalanche's price has ranged from $16 to $25. This results in an overall treasury increase from 480k to 750k. With higher dollar value amounts not all areas will need to be increased equally such as initial investments or team allocations. Therefore there will likely be a surplus allocation in development and investment opportunity.
As previously discussed, based on our own judgement and community polls and feedback we will invest more into yield-generating pairs, development, giveaways and investment opportunities from an increase in AVAX value when converting to stable USDC.
Under the conditions of a market crash, we may take action to consolidate to stable USDC (whilst conferring with the community) to then later buy AVAX in better market trends.
The potential gains in AVAX from re-buying at $10 or $14 from July's highs of $25 is an instant 2x of the treasury. Whilst a majority might already be allocated / converted to fund certain endeavours; whatever spare capital should be available to invest with the communities permission.
Whether staking an amount for 9-17% APY, investing in other protocols or increasing LP and NFT holdings of projects; with appropriate risk management, the treasury will be profitable and safe for holders of Edgy Eggs ready for a new bull run.
Investment Budget allocations are not final. If deemed necessary, we may allocate some development budget to increase yield generation or add to the giveaway pot. Over time, the passive yield to the brand will increase the overall budget and will be allocated to whichever pot needs it most. Most likely this will enter straight into the investment portfolio in order to further increase yield generation.
Your rewards you receive at launch are likely to increase over time...substantially.
Development allocations may also be used for investment opportunities or a top-up to the giveaway fund where deemed necessary. This also accounts for secondary sales fees going forwards, budgeted towards boosting investment allocations and yield returns for holders of Edgy Eggs.
As we continue communications with the Chikn team further opportunities may present themselves to develop better ways to enhance our own ecosystem with their help and theirs with ours.
