Index Coop Q3 2022 Financial Review

Finance Accountability
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Index Coop Q3 2022 Financial Review

Authors: @Hammad1412 and @ElliottWatts

We are pleased to present the 2022 Q3 financial review for the Index Coop. The report takes a deep dive into the Index Coop financials and performance looking back over the last 3 months.

Here is the pdf version of the full report:
Q3 2022 Financial Report (2) (1).pdf (3.7 MB)

Below we provide some key highlights from the Q3 financial review.

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  • Revenue totaled $283K, down 53% from the previous quarter
  • Total Q2 loss stands at $867K
  • The largest contributor to revenue continues to be ETH2x-FLI, accounting for $148K of the revenue in Q3
  • Our community treasury stands at $17.55M as of September 30th 2022 ($INDEX makes up 55%)
  • Total TVL is up 29% from Q2 from $54.09M to $70.23M

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  • September expenditure at $278K
  • Stablecoin holdings are $7.54M
  • 27 month stablecoin runway at the end of June, calculated at the gross burn rate - treasury stables / stables average monthly spend

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  • Two standout performers are DPI and ETH2x-FLI which have amassed 82% for the Coop this quarter in streaming fees
  • Polygon product suite only contributed to 2% of streaming fee revenue

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  • Overall spend totalled $1.04M down by 38% from Q2
  • Contributor rewards are down 42% with total spend for quarter coming in at $820K

You can find the detailed financial statements (profit/loss statement, balance sheet and budget vs actuals) within the report. As always, please let us know your thoughts and if there is anything else you’d like to see in the next iteration.

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2

Hey @Finance, is there a reason why there is such a large variance between budgeted and actual spend for the Build Network?

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When Q4 22 and Q1 23 are going to be posted?

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Hi @Danilo_dg, myself and @Hammad1412 moved away from Index Coop just before 2023. We haven’t been working on any financial statements for Q4 or Q1. One of the current IC team members should provide an update on if they are going to continue to do reporting going forward.

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Thank you Elliott. It will be important to understand how the DAO will share financial results with the token holders. Do you know who can clarify this?

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Hi @Danilo_dg,

We are currently working with new accounting software which will help us provide financial statements each month, however, we are still in the set-up phase. These reports will be provided as soon as they are ready. Sorry for the delay!

Best,
Anthony

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also our business occurs entirely onchain & such can be tracked in real-time, not just via quarterly reporting. Token Terminal is a great tool with simple visualizations & labelled addresses for our revenue & treasury

Index Coop on Token Terminal

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Do you have any updates on the financials? Appreciate at a high level can be viewed on chain but the financial statements were very useful for more color.

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