The Core team needs to clarify and disclose the Treasury ASAP

I have seen this highlighted, asked, etc. multiple times across many Discord, Twitter, Telegram chats.

The core team, specifically @lij and @stse, need to show RADICAL TRANSPARENCY and break down 100% of the Treasury for us, publicly.

The community, and anyone else that does NOT have insight into this “Treasury” (that apparently can build for 3 more years AND fund the recovery plan), can never give the best approach to repeg if they don’t know the numbers.

Li made it sound like the entire Treasury could be used to repeg/recover, but won’t. What?

Props to kratos_harmony for highlighting this from the Twitter space earlier today.

It’s all on chain. I’m pretty sure I’ve seen some of the accounts. I vaguely remember some kind of multisig arrangement that seems to pay into a shorter term account that appeared to be making frequent payments to various accounts that would probably related to salaries.

I’ll see if I can find it for you in a bit and post it.

Also in the June onsite notes on the site here I recall it came up that they also had something like 10m in cash on hand for short term costs? And how reducing monthly overhead was going to become a big priority to extend that runway. This was before the hack too so you can imagine things have become much more lean since.

Overall things seem fairly transparent to me.

Li made it sound like the entire Treasury could be used to repeg/recover, but won’t. What?

Which would probably effectively be the same thing as abandoning development and orphaning the chain. As mentioned before in the other thread, the only rational way a counter party could take this kind of deal which would destroy the inherent value in ONE would be someone who could hedge the downside and walk away with guaranteed profit at everyone else’s expense. Assuming you could even arrange such a deal for enough liquid assets to restore the pegs.

I suppose there’s another option of some kind of weird crypto-style hostile takeover where some other team buys out the treasury to take over the chain and the development for that amount. But with that amount of liquid capital and things being open source(not sure about the licensing though) why not just fork it yourself? Not that I think the team would entertain or accept this theoretical deal that almost certainly doesn’t exist anyway.

Either way, think of the market cap of ONE, and what percentage of the total float it would take to make some kind of instant cash deal for that kind of money, the treasury isn’t that big. The only entity that controls any amount ONE approaching those levels is Binance. I’m not even sure Li was understood correctly here since I can’t picture such a thing being possible…or at least it certainly wasn’t at the market cap in the immediate post hack era.

I found the wallets I mentioned in the last post that are probably the treasury. I don’t think it has ever not meant to be transparent or public.

Can easily see this being sufficient to build and recover over time.

Think there must of been a misunderstanding of what Li meant exactly. Either way it would be a disaster just to throw the future value away I think.