Fantom Foundation Runway

Fantom | 04.16| 98

By Michael Kong

Due to the overall market conditions and the unprecedented situation around the world, many in the community have asked if Fantom has enough runway to achieve its aims and objectives.

When we last reported on our runway in April 2019, Fantom disclosed that it had funding for around two years.

At the time of writing this article, we are pleased to report that Fantom has a runway for approximately three and a half years.

Fantom was able to hedge by diversifying our assets by moving our Bitcoin and Ether into a number of different stablecoins.

Consequently, the treasury now has approximately USD$5.4million worth of crypto and non-crypto assets, of which approximately USD$4.85million are in stablecoins and fiat, with the remainder in Bitcoin and Ethereum. Fantom’s stablecoin holdings are earning interest in Ethereum’s various Decentralised Finance (“Defi”) platforms.

The total headcount for the Foundation is twenty-eight, of which fourteen are for research and development, thirteen for marketing and business development, and our legal counsel consists of Fred Pucci, a solicitor.

The total expenditure is approximately USD$133k per month.

If market conditions improve, the runway for the Foundation should increase.

Fantom remains committed to sustainable revenues going forward, thereby creating a long term, viable foundation that supports open source technologies and developments.

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Fantom Foundation Runway was originally published in Fantom Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.

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