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Ergo Foundation Treasury#

The Ergo Foundation initially received an allocation of 4,330,776 ERG, which is equivalent to 4.43% of the total supply. A significant portion of this Treasury has been expended for the benefit of the protocol and the community. Even during periods of low ERG price, the Foundation continued to invest in order to foster and grow the Ergo community. Additionally, several projects that launched on Ergo have generously allocated a fraction of their tokens to the EF Treasury.

Emission

For more information on the Ergo's emission schedule, tokenomics and allocation, visit the emission section.

Holdings#

As of January 2024, the complete treasury of the foundation, including market making funds, is as follows:

Currency Amount Price Total
ERG 481,122 $1.60 $769,795
RSN 30,000,000 $0.102 $3,060,000
SPF 28,500,000 $0.0487 $1,387,950
BTC 7.26 $45,000 $326,700
USD 92,495 $1 $92,495
Gluon 335,000 N/A
Total $5,636,940
How will the SPF/RSN and other tokens be utilized?

Please note that the majority of these funds are currently illiquid. We have converted a minor portion of SPF to cover some development expenses from the grants awarded (as detailed below), but we are cautious to avoid exerting any downward pressure on a project that is still maturing. This situation, however, presents an opportunity to significantly augment our expenditure once we reach a stage where these tokens can be freely utilized.

Wallets#

You can find the Ergo Foundation treasury and current balance on-chain at the following locations

  • The original EF Treasury MultiSig can be seen here.
  • We are in the process of shifting to a new multisig which can be found here.
  • View the Hot Wallet managed by the Treasurer when sending payments.

Salaries#

Twenty people receive monthly salaries or rewards for their contributions. The vast majority (16/20) were promoted from within the community after exceptional contributions.

An average breakdown of how people in Ergo are awarded.

pie title 2023 Salary Averages "EF" : 14.8 "Advisory" : 7.5 "Marketing" : 14 "Development" : 63
Roles

More information on each of these roles can be seen on this page.

Outstanding Obligations#

Currently, the Ergo Foundation has $132,500 in outstanding obligations.

Historic Spending#

The Ergo Foundation has spent the majority of the Treasury for the benefit of the protocol and community. Funds were even spent when the ERG price was low, as it was necessary to bootstrap the thriving community Ergo now boasts.

Spent ERG USD
2023 424,150 $589,777
2022 723,000 $2,247,640
2021 889,001 $3,793,485
2020 1,080,000 $500,292
2019 757,051 $590,239
Total 3,963,209 $7,721,433

In addition to the direct ERG spending above in 2023,

  • 972,000 SPF was liquidated for 43,020 ERG
  • 650,000 SPF was paid as compensation ($21,000)
  • 160,000 SPF was donated to the Sigmanauts Treasury
  • Totaling 1,622,000 SPF
The Ergo Foundations Future

Please see this page for more information on the long-term goals of The Foundation.

Votings#

The Ergo Foundation members and officers discuss proposals before putting them to a formal vote on the ergoforum, passed with a majority of voting members.

Before voting on spending treasury funds, we will approach the Good Whale Fund, DarkFund0, or suggest creating a Raffle if appropriate.

Foundation votes this year are usually related to our internal structures, exchanges, market-makers, banks, and grant requests.

  • (Dec 23) Transfer of all or Part of Treasury to New Multi-sig
  • (Oct 23) Pay raise for anon-br
  • (Sep 23) Pay a bonus to Angie in SPF
  • (Sep 23) Vote on spf conversions
  • (Aug 23) Bitpanda Listing
  • (Aug 23) Vote on taking down 2mm spf into a minimum 4-person multi-sig
  • (Jul 23) SPF Tokens to Sigmanauts
  • (Jul 23) Sigmanauts Treasury Fundraiser
  • (Jul 23) Dubai Entity Setup
  • (May 23) Partial Payment of dept to morphic
  • (May 23) Wechat Public Account Purchase - 1,200 ERG
  • (Feb 23) EF entity set up in Dubai
  • (Feb 23) Change to USD baserate for my rewards
  • (Feb 23) 40k ERGs to Treasury Wallet for Liquidation PENDING PRICE TARGETS
  • (Jan 23) Hackahton VI Funding
  • (Jan 23) ERGOHACK VI Funding
  • (Dec 22) MrStahlfelge contract renewal
  • (Dec 22) Expenses reduction plan
  • (Sep 22) Miner subsidise
  • (Sep 22) Graphics support
  • (Sep 22) CW/Allision/Stacie -> EF Officers
  • (Sep 22) [exchange related - details under NDA]
  • (Aug 22) [exchange related - details under NDA]
  • (Aug 22) Market Maker contract
  • (Aug 22) [exchange related - details under NDA]
  • (May 22) GuapSwap Grant Request
  • (Apr 22) Bridge Funding
  • (Apr 22) Marketing Proposal
  • (Apr 22) Securing Funding for Deco Raffle (Raffle was 7k erg)
  • (Mar 22) [exchange related - details under NDA]
  • (Feb 22) [exchange related - details under NDA]
  • (Feb 22) Renew development contract with morphic
  • (Feb 22) Vote for Continued Cooperation with Chinese publisher
  • (Jan 22) ErgoDex Funding $113,200
  • (Jan 22) Funding for website visual direction.
  • (Jan 22) Bank Account & Crypto custody account
  • (Jan 22) Education Grant