Operations and Finance Update for October 2023
We provide a monthly update on the state of the Neutron Grants Foundation's operations and finances.
Neutron Grants Program
Dec 2, 2023
Operations Update
Summary
October has been a pivotal month for the Neutron Grants Program. Prop-14, the on-chain proposal to launch and fund the Neutron Grants Program to the sum of 20M NTRN, was successfully passed, which allowed us to begin work. Shortly after, in November, we completed the necessary legal, operational, and technical work to open the program for applications officially — further details can be found on our website. For the rest of this article, we will summarise the key operational and finance updates in October 2023 and provide a breakdown of the financial state of the Neutron Grants Foundation (the organisation behind the NGP) as of October 31 2023.
Key Developments
- We successfully carried out an OTC deal with an existing partner to swap 2,794,815 NTRN for 754,597 USDC at an effective price for NTRN of $0.27 on October 26, 2023, with the condition that the counterparty’s NTRN tokens are locked for a year. This deal will fund our operations for the first year of the NGP’s grant-giving and is in line with our stated strategy as detailed in our initial governance post and on-chain proposal (Prop-14).
- As previously announced, the Neutron Grants Foundation was officially incorporated on October 5, 2023. You can view the Bylaws of the organization here.
Financial Update
Below we detail the Neutron Grants Foundation’s Balance Sheet, Profit and Loss statement, and breakdown of its transactions in October. The corresponding addresses for the listed accounts is as follows:
- Neutron Grants Fund: neutron1zjdv3u6svlazlydmje2qcp44yqkt0059chz8gmyl5yrklmgv6fzq9chelu
- Neutron Ops Fund (1): neutron18e8vga4gqaerheumv05xausjctf8qj8suw9l2swm3c5f7z864yysx73nw2
- Neutron Ops Fund (2): neutron1h8g6fpyj8kemq9ny3g98nrcuea4rtlwtql9g0pl6x3ncsn4t8gaq7zzrvd
Neutron Grants Foundation Balance Sheet as of 31 October 2023
Neutron Grants Foundation Profit and Loss for October 2023
Neutron Grants Foundation Transactions for October 2023
The following table summarizes the transactions associated with wallets or bank accounts associated with the Neutron Grants Foundation.
Summary
We hope this short summary of the Neutron Grants Foundation’s operations and finances and feel free to reach out at grants@neutrongrants.com if you have any questions. We are aiming to provide all the data available in this report as part of our live dashboard in order to prompt ongoing transparency of the Neutron Grants Program.