| Funds at Start | Inflows | Payments | Funds at End |
|---|---|---|---|
| 32,661.71 | 5,574.74 | 5,266.41 | 32,970.04 |
July’s payments paid out at an RPL price of $5.75. The current value of the treasury in USD terms is approximately $236,000.
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New Stablecoin Process - BOLD
The GMC recently passed a new proposal which sets aside RPL to stablecoin to ensure all future awards can be paid:
Proposal: Swap RPL for BOLD at Time of Award for Grants
Summary:
This proposal suggests that starting in Round 26, the amount to be swapped from RPL to BOLD will be determined at the time each award is approved. For grants without a fixed amount — such as those with ranges or performance-based incentives — the minimum guaranteed amount will be used.
The actual swap will occur at the time of regular monthly payments.Key Points:
Applies to all awards that pay out (all or a portion of) the award after the acceptance round.
For fixed-amount grants:
Any portion being paid during the upcoming payment cycle will remain in RPL.
The remaining amount will be swapped to BOLD during the same payment cycle.
For grants with ranges or incentive components, only the minimum guaranteed amount will be swapped.
Grants that had funds swapped to BOLD will be paid in BOLD.
If the final payout exceeds the minimum, the difference will be paid in RPL.
Swaps are scheduled alongside regular payments, not executed immediately at award approval.
Ensures that stablecoins are directly tied to actual disbursements, avoiding idle reserves.
Avoids past strategies where stablecoins were not clearly earmarked or effective.
Considerations:
Introduces some short-term RPL sell pressure, but in targeted, controlled amounts.
More transparent and operationally simple than gradual stable reserve buildup.
May reduce long-term treasury flexibility due to reactive rather than proactive swaps.