Try Quests to earn cryptoForefront Treasury
This dashboard aims to provide an analysis of the Treasury of Forefront and its holdings.
When we sum the payments of both USDC and FF, and exclude the 150k USDC from February 21st, we get the numbers above. This means about 41% was paid out in USDC and 59% is paid out in FF Tokens. This is expected as Pioneers have the option to have 40% of their payment be paid out in USDC.
Introduction
Forefront is a community DAO focused on creating and curating resources for the social token community. This means that Forefront is mainly focused on providing information about social tokens
Its native token is $FF which is mainly used to incentivize community members to write content for the DAO. This dashboard will provide insight into the holdings of the Treasury that pays the community members that write these articles.
We will also take a look at how the Treasury changed as a result of "Season 2" and what percentage of payments for writes are made in USDC vs FF.
Season 2
Season 2, which started on February 23th, introduced a new fase for Forefront. Most relevant for this dashboard, Season 2 introduced a new payment scheme for the community members that write content. More information about Season 2 can be found here.
Methodology
To find the holdings of the Treasury over time, the ethereum.erc20_balances in combination with the contract address of the Forefront Treasury: 0x2Fb9F0ef424b24a8D293999298F392a33Fe6A8b5.
We then filter for FF, USDC and ETH and group the holdings per day.
In order to find the percentage of payments made in USDC vs FF, the ethereum.events_emitted table was used. Then, a filter was applied that filtered out transactions where the tx_to_address = 0x2Fb9F0ef424b24a8D293999298F392a33Fe6A8b5 and the event_name = 'Transfer'. Then, the average price of the FF token was calculated and multiplied by the amount of FF tokens to get the total USD value of the payments. This way, we can compare the value of the USDC payments with the FF payments.
We can see that most payments will be made in the FF token. However, according to this article, Pioneers have the option to get up to 40% of their payment in USDC. This means that we can expect the majority of the payments to be made in FF but also a portion in USDC.
From the chart above, we can see that the majority of the Treasury (in USD value) is in the FF token. About 80% currently. Because the price of FF has been declining, we can see that the percentage in USDC has been rising. We can also see that since Season 2, the USD value of the allocation in ETH has been increasing.
When looking at the number of tokens per allocation in the Treasury over time, we can see that the number of FF tokens has been declining, likely due to payments. We can also see that on September 15th 2021, about 2 million USDC tokens were added, of which the number of USDC is also declining over time. Finally, we can see that the number of ETH in the treasury has been fluctuating. In November 2021 a number of ETH was sold. Around the start of Season 2, the amount of ETH in the Treasury was increased from 7 to 34 ETH and the ETH balance has been increasing since then.
Next, we'll look at the percentage of payments that were paid out in USDC vs FF.
We can see that payments of USDC and FF are usually made on the same date. We can also see a big withdrawal of about 150k USDC on February 21st. This is likely not a payment to content writers as no FF withdrawal is made on the same day. Also, about 27 ETH was added to the treasury that same day so a part of this 150K was likely used for purchasing this ETH.