2024 Cartesi Foundation Transparency Report

The Cartesi Foundation is pleased to present a new transparency report for 2024 with updated figures for the previous year's operations.

For a review of what the Cartesi Foundation is and how the actions it takes to contribute to the ecosystem, you can view the 2023 transparency report.

Treasury Diversification and Allocation

The Cartesi Foundation continues to hold a diversified treasury that includes the fully unlocked CTSI Foundation reserve and allocates funding and resources to the various ecosystem initiatives mentioned above. These allocations include funding grants to core units, companies, and individuals, sponsoring events, hackathons, meetups, educational workshops, community building, community-run programs, and more.

The Cartesi Foundation’s yearly grant commitments to core units, core companies, and other active ecosystem contributors represent a significant portion of the anticipated allocation of the fiat portion of the treasury for years to come.

Importantly, the Cartesi Foundation’s treasury allocations are community-driven. The Foundation is committed to allocating the substantial majority of its treasury to furthering the ecosystem’s Technical Evolution Plan – a decentralized community-written roadmap.

Additionally, as community-governed programs (such as the Cartesi Grants Program) continue to mature, the Cartesi Foundation will continue to empower community partners to take an active and increasing role in determining treasury allocation.

2024 Treasury Summary

All figures below are presented as at December 31, 2024 and are subject to future change.

Runway total including all assets and assuming current yearly commitments (based on year-end CTSI price of $0.1531 USD as of December 31, 2024): 6 years and 8 months

Runway total excluding CTSI holdings and assuming current yearly commitments: 3 years and 5 months

The Cartesi Foundation’s treasury is comprised of the following assets:

• CTSI Holdings: 46.2% at year-end CTSI price ($0.1531 USD) in total, broken down as follows:
  • 21.22% of the treasury is in the Foundation’s wallet as of year-end (the Foundation’s CTSI wallet can be viewed at 0x60247492F1538Ed4520e61aE41ca2A8447592Ff5).
  • 16.76% of the treasury is deployed to generate staking rewards and/or earn interest as of year-end.
• Fiat Holdings: 37.83%
• Non-CTSI Crypto Holdings (Stablecoins/BTC/ETH): 15.96% as of year-end prices (the non-CTSI wallet is at 0xa2E3A2ca689c00F08F34b62cCC73B1477eF1f658).

2024 Core Funding Allocation

Over 2024, core spending from the Cartesi Foundation was distributed in 4 main areas as follows:

• Core Ecosystem Unit Grants: 14%
• Core R&D Unit Grants: 27%
• Core Company Grants: 26%
• Cartesi Foundation Initiatives, Operations, Marketing and Growth spend: 33%

* In service to the community, the Cartesi Foundation also administers two other wallets that are not a part of the foundation’s treasury:

1. DelayedWithdraw Wallet: 0xc783e5e67B646282FA1ba80878C9debBbceeE11a which holds the Mine Reserve used to fund the CTSI staking Reserve Mine Wallet. It takes 7 days to withdraw any funds from here to the Reserve Mine wallet.
2. Reserve Mine Wallet: 0x2A1Eb0FB39312BbF01Cf40899975684612A57016 which holds funds withdrawn from the DelayedWithdraw wallet. These funds are used to fund the RewardManager each month which autonomously distributes tokens in the staking system without any management or control. An intermediate wallet is used for security and safety purposes.

Note: Any on-chain activity related to CTSI not mentioned in this report is not controlled or managed by the Cartesi Foundation.