Treasury and costs
Last updated
Last updated
The treasury is going to be a central part of the project as this is where the marketing, development, infrastructure and partner incubation program will be funded from - a more detailed cost analysis can be seen in Expenses.
We plan to have the best security measures for accessing it and we intend to show the highest level of transparency when it comes to fund spending.
More information coming soon!
No project can survive if it does not strive to be self-sustaining. On this front, we have planned to have multiple income avenues, some of them being more direct, others being planned as a long-term goal. While exact details are subject to change, especially since market conditions require us to have a dynamic and proactive approach, we still see them as a very important part of the project. In no particular order, here are some of the most important avenues we have planned for becoming self sustainable:
Fees generated by marketplace transactions;
Fees from the peer to peer interactions - this includes both the GameFi marketplace and the OTC market on the DeFi side, where users can trade tokens among each other;
DEX fees from various token transactions taking place;
Our in-house Lumias Games - at least a few of them will have a price attached to them;
Running ads on our platform;
Subscriptions- unlocking features on our platform.
Note: All fees and taxes are subject to change. They will be tweaked over the course of a few months to better fit the needs of the project and to better reflect the desires of our users.
When it comes to costs, we strive to be as cost effective as possible, trying to keep costs low while getting the best product out to the consumer. Right now all expenses are paid by the founder of the project.
So far we have spent $10.000 USD in total, with:
$500 USD going towards covering infrastructure costs (Internet connection, servers, databases, domain and hosting);
$3.000 USD went toward research (including GoogleAds bots and market information);
$6.500 USD going towards development.
We expect these costs to go up and our estimations place these numbers as such:
$2.000 - $5.000 USD per month towards infrastructure - these costs will decrease over time as more parts of our project are moved fully on chain. This will be strongly affected by the number of projects that we onboard and the degree of usage our APIs will get - higher traffic means higher costs;
$1.000 - $10.000 USD for each Lumify project we launch;
TBD amount for our smart contracts audits - audit partner currently in talks with;
TBD amount targeted at offsetting carbon footprint for both Lumias and partner projects;
TBD amount on marketing.
Our project developers are dedicated to seeing this project thrive. They are constantly showing their devotion and are working tirelessly for Lumias to be in its best shape at launch.
When it comes to payment, our developers have chosen a different path. Out of the entire project revenue:
70% of it goes to the treasury;
30% goes toward paying the developers and maintaining infrastructure (the exact spread will become clear a few months after launch).
Our team has agreed to be paid with whatever amount is left out of that 30% - so no fixed payment made each month. This will ensure the project has a longer runway, a fact we believe is extremely important considering the current state of the crypto market. The amount of revenue directed towards team salaries is also capped (exact values TBD), meaning that once the profit margins go up, the amount of revenue going toward the project treasury actually increases.
The team has also agreed to be paid by milestones - 50% of funds paid monthly and 50% will be paid once milestones are reached.
