Hi all!
I’m taking over for Val as the IMC treasurer 
Report 27
Important points:
- IMC continued spending budget cut (by calculating values with artificial 0.005 RPL/ETH ratio)
- Cakepie Arbitrum coincentives wound down, IMC only spent there on the first fortnight
- ~11k of RPL inflows, ~12k of RPL outflows
- I added a couple of rows to help with budgeting:
- RPL balance change: Period 27 saw a -21.35% change from ~4.3k RPL to ~3.4k RPL
- Extrapolated months to zero RPL balance: Period 27 shows 3.68 months left, i.e. if inflows/outflows continued at this rate we would only be able to meet our budget goals for 3 more months before running out of RPL balance reserves to pull from
Budget 28
Important points:
- IMC continued spending budget cut (by calculating values with artificial 0.005 RPL/ETH ratio)
- Highlighted in orange are further cuts to spending so that our inflows are greater than outflows (RPL balance change is positive / we can continue to achieve budget goals indefinitely). The cuts include:
- Optimism
- Activity on the chain has been lagging a bit compared to other L2’s, especially Base)
- HH Aura Market (rETH/WETH) - Cut spending from 1.2 ETH per fortnight to 1 ETH per fortnight
- Mainnet
- These are our biggest spenders so it made sense to cut here… our LP’s have been relatively insensitive to our spending cuts thus far (more on that at the bottom)
- Cakepie (rETH/ETH) - Cut spending from 5.8 ETH per fortnight to 5.5 ETH per fortnight
- Paladin Aura Market (rETH/ETH) - Cut spending from 17.9 ETH per fortnight to 17.3 ETH per fortnight
- Optimism
- I also updated/recalculated our non-RPL and POL assets value… These were manually calculated previously, and since they are mostly ETH denominated and RPL/ETH has been down - we actually have ~2x more TVL than previously depicted. No changes were made to the actual positions, I just updated the value tracked in our budgets.
Data - 1% Price Impact
- There was a significant drop in September from a whale leaving PCS, but that caused yields to shoot up and liquidity has been recovering since (see below)… besides that things look relatively stable
https://pancakeswap.finance/info/v3/eth/pairs/0x2201d2400d30BFD8172104B4ad046d019CA4E7bd?chain=eth
Resources
- IMC tracking spreadsheet: IMC tracking - Google Sheets
- IMC RPL tracker: https://dune.com/queries/3209520/5365584
- Val updated the tool to include non-RPL balances (USDC, USDC.e, rETH, and WETH) on our arbitrum wallet
- 1% price impact tracker (assumes RP smart contracts not used): rETH Slippage for IMC
