Dear Balancer community,
As part of our commitment to accountability, transparency, and open communication, we’re pleased to share another update with the Balancer community. This report details our progress since Q2 and outlines our ongoing efforts to support the protocol.
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Liaising with the board on budgets, project proposals, and matters particularly as it relates to service providers including the BVI subsidiary**
As part of this role, reporting to the Foundation Board and the Ecosystem Council is being done in a timely manner on all matters of importance, including financial status, funding projections, program operations, and employee matters.
Manage Finances and Service Providers
Alongside @Lemma, we have concluded financial reports, and Lemma published the Balancer FY25 Q2 Transparency Report in May, with a granular view of the expenses (forecast/actual) for the period for both the Foundation and its subsidiary Balancer Opco. Every on-chain transaction is pre-approved by the Balancer Foundation board (¾ multisig). All the off-chain payments are overseen by the board and Lemma.
Q3 was an intense period where we pushed for the conclusion of the Balancer Ecosystem Roadmap Proposal and Funding, which included not only summarizing the strategic pillars but also budgeting and forecasting expenditures for the whole ecosystem until Q2/20206. This endeavor concluded back in September, just in time to clear the books and start a fresh accounting from October (Q3) and beyond.
Other developments:
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Offboarding staff and onboarding new contributors
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ONsite quotes, reservations, payments and agenda
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Cloudflare and unutilized domains housekeeping
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Renewal of Marketing agency contracts
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Liaison with @kpk and @maxyz.xyz regarding financial reports and implementation
Compliance and Risk Management
During Q3 we have worked closely with the in-house counsel and Cayman/BVI corporate governance to incorporate the new entity Balancer Onchain Limited. After the positive governance vote for a new BVI company for business and onchain operations, we have successfully setup the new company.
Other developments and activities include:
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Risk section review: LBP, HyperEVM, broken links
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Mode grant agreement follow-up
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X Layer onboarding
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Review frontend warnings and disclosures
Community Engagement
Organizing the Ecosystem ONsite also took a lot of the time resources in Q3. With a leaner staff, we took on an ad-hoc travel agent to assist in planning to make sure the event was a success. Contributors could enjoy a week in Madrid, where we had an opportunity to evaluate our previous epoch and plans for the future under the new Unified Roadmap.
On Discord, we have improved our ticket system with the implementation of MAVA and a new bot developed by @blackbeardefi to identify scammers.
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User support tickets (see below)
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New mod bot (Banlancer) and ticket system implementation (MAVA)
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Anti-scam initiative
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Discord safety monitoring (bots, automod commands, etc)
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Devconnect and Eth Latam planning (flights, tickets and accommodation)
What’s next?
Please expect the financial analysis for Q3 in due time. Check out data metrics below regarding our ticket system and user support (Discord).