Cashbook.
Three groups of figures, and they are three different kinds of number. What has moved is realized, to the cent, from the journal and from Stripe. What the Board is worth is a rate at the prices its owners are asking today, which nobody has paid. How much of it there is counts things rather than money.
How the treasury is run.
What the house holds, what it may spend, what it cannot touch, and who decides. Published before the market opened, so that it can be held against the house.
What it holds.
| USD, the house's own | The operating balance, in the currency every price on the Board is set in. |
| USD, owed to sellers | Collected from buyers and not yet paid out. It is not the house's money, it never becomes the house's money, and it is listed because a page that says what is held has to say what is held for somebody else. |
| $SOL | Market liquidity |
| $OPENFAME | Incentive reserve |
| $USDC on Solana | Operating balance |
| $USDC on the Internet Computer | Operating balance |
| $ICP, liquid | Kept liquid to buy cycles, so that the canister never runs out of the fuel it needs to answer. |
| $ICP, in the neuron | The treasury neuron, locked for eight years and never disbursed. |
| Cycles, already burned | Neither a holding nor something that can be sold: $ICP converted into cycles is destroyed in the act, and what remains is fuel the canister spends by running. It is listed because it is money the house has already spent, and a page that lists what it holds should say where that went. |
| EUR | Stripe charges every price in United States dollars and settles to the company's account in euros; euros are held as euros and converted when the rate justifies it rather than on the day they arrive. |
Holding our own token is not diversification: if $OPENFAME falls, the treasury falls exactly when it is needed. The $OPENFAME share is an incentive reserve, and it is never counted as something the treasury could sell.
What rules it follows.
- Only the operating balance is spendable, and only on infrastructure, payment fees, legal costs and contributors.
- The neuron and the locked reserves cannot be spent at all, and their locks are public.
- Thirty per cent of what the house keeps is converted into $ICP and staked for eight years in a neuron that is never dissolved.
- Rebalancing happens at most once a quarter, and never sells $OPENFAME on the market.
Who decides.
Today, the operating company, in public and with notice. As governance moves to holders, this page moves with it.