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Created November 28, 2022 12:38
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fantom-historical-financials.md

💡 Andre Cronje on Fantom L1 Historical Financials

🔗 Source: https://andrecronje.medium.com/fantom-an-inside-financial-peak-at-being-a-crypto-company-323d29fb5e81

TLDR:

  • 16 June 2018 — Fantom raised $40,000,000 (mostly in ETH @ $450-$700).
  • Nov 2022 — $100,000,000+ in stables,
    • $100,000,000+ in crypto assets,
    • $50,000,000 in non-crypto assets.
    • Salary burn rate $7,000,000 / year.
    • We have ~30 years left (without having to touch FTM)
  • Fantom currently earns >$10,000,000 / year, excluding any capital gains.

  • Most comparable L1’s own between 50% — 80% of their token supply. At launch, Fantom owned less than 3%, today we own more than 14%. We prefer buying our token, we don’t “sell” our tokens for “partnerships”.

  • Blockchain companies, realistically, only make money by selling their token, these are finite models. We spend a lot of time comparing finite models versus infinite models. We ask ourselves, “what impact does this partnership make in 10 years”, “how do we sustain this action in 10 years”, “if we pay for this launch, how long before this partner simply deploys on other chains”, we base our decisions off of these answers.

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