Introduction

Forefront is the launchpad empowering web3 explorers to create at the frontier of tokenized communities. Forefront strives to empower and serve the Web3 world-builders of tomorrow via 1) literacy, 2) tribe and 3) tools.

A proposal to bring the seasons concept to Forefront took place on July and was approved with 100% positive votes. Season One started on July 19th and lasted 90 days. Some keys points:

• Introduce Guilds, contributor types, and new governance process.
• Approve a max allocation of 450,000 $FF for Season One expenses (150,000 $FF for core operations expenses and 100,000 $FF allocation for each guild). Payout allocation will run monthly and/or per-project basis.

Methodology

Two different type of queries were made.

The first type queried the ethereum.erc20_balances table to find out the different token balances over time. Since I had trouble loading data from this table and aggregating by day or week, I decided to aggregate the average balance per token monthly. I lost some overview of the changes in time but was the only way I found to visualize data from this table.

The second type queried the ethereum.udm_events table to find out the transfers from the treasury address (from_address = lower ('0x2Fb9F0ef424b24a8D293999298F392a33Fe6A8b5') and analysed different data over time monthly ( date_trunc ('month', block_timestamp)`) since the launch of the project in July 2021. Three queries were done:

• one aggregating the sum of balances in each token and in USD per month
• another aggregating the sum of balances in each token and in USD per month and per recipint (to_address)
• the last one counting the tx_id and aggregating by symbol

Results

Figure 1 shows the monthly average holding per token of Forefront's Treasury in a log scale. Besides the FF Token, ROBOT token is also present since the former's launch in July 2021. Apart from ROBOT, other 3 tokens remain with the same allocation once they enter the treasury: FIRST, HVND and WETH. Besides FF, USDC and ETH token are variably distributed over time, meaning these are the inflows and outflows of the treasury mainly.

I assume that ROBOT, FIRST, HVND and WETH are coming from contributions from other DAOs or projects and remain as an "invested" allocation of the treasury.ROBOT was present from the start but September 2021 (HVND) and December 2021 (FIRST and WETH) were added afterwards following the incentive strategy to add funds to the treasury from collaboration projects.

Conclusions

Forefront shows a really impressive development since its launch not even one year ago. It shows a treasury holding over time which is very logical for a DAO with its own token; allocating part of this native token to USDC as a method of payment and ETH as method of payment which can returns yield due to ETH's price increase (although it can also loose value).

The contribution strategy to include native tokens of other DAOs collaborating with Forefront gives a mutual incentive for both sides and also comes with a prospect of revalorization if the project skyrockets - never underestimate what a group of commited people can do specially in crypto!

Sources

Forefront Seasons Proposal

Forefront Treasury Diversification

Treasury Diversification Proposal

I couldn't find an official start of Season 2 but it seems to be happening right now.

There were two Treasury diversification proposal accepted, on August 2021 and February 2022. This bounty will analyse these treasury diversifications and its holdings.

Note: the dashboard was updated on April 22nd after a first release on March 23rd.

Figure 2 shows the percentage in allocation per token in USD value. Two main events can be identified:

• First Treasury diversification in September, with 5% allocation to USDC after the exchange of 1,000,000 FF tokens for $2,000,000 USDC.

• Second treasury diversification in February to add ETH and achieve a 1,3% allocation in total after converting $150,000 of USDC to ETH.

Fluctuations in FF/USDC percentages can be explained by the total amounts transferred out of the treasury to pay for the development of Forefront (Guilds budgets, contributors payments, etc). These amounts are shown in Figure 3. Comparing these two figures, one can see that i.e. in November 2021 a total of 276 USDC were transferred from the Treasury resultin in a 0.8% allocation reduction of USDC.

Figure 4 and Figure 5 show two different visualizations of the transferred amounts over time, the first per recipient colored by amount in USD, the second per amount in USD colored by recipient. Two phases are clearly differentiated:

• Phase 1 happening during Season 1 where up to three addresses receive relatively big amounts, most probably the Guilds which needed their funding.

• Phase 2 during the Off-Season with lots of payments of different amounts but mostly below 10k USD for all the contributors involved.

Figure 6 shows the percentage of payments done with FF, USDC and ETH. Over 85% of all payments were done with Forefront native token, 13.7% with USDC and 0,6% with ETH. This compares to the results from March (90% FF, 9.6% USDC and 0,7%) confirming the trend of using USDC as a payment token.