# 03_treasury_and_pools

# 03 — Treasury & Pool Analysis¶

Analyzing the flow of value through the TEC's key pools:

- Common Pool (funding source for conviction voting)
- Reserve Pool (bonding curve collateral)
- Token balances and USD valuations over time
- Treasury health and sustainability metrics

    Common Pool: 2022-01-19 to 2023-12-19 (871 rows)
    Reserve Pool: 2022-01-19 to 2023-12-19 (886 rows)
    Token Balances: 2023-12-20 to 2025-12-10 (1985 rows)

    Token symbols in balances: <StringArray>
    ['DAI', 'TEC', 'rETH']
    Length: 3, dtype: str

## 1. Common Pool & Reserve Pool Over Time (Gnosis Chain era)¶

    Common Pool: 1,073,976 peak → 0 end (-100.0% drawdown)
    Reserve Pool: 1,119,096 peak → -0 end (-100.0% drawdown)

## 2. Post-Migration Token Balances (Optimism era)¶

    Total treasury USD:
      Max: $348,595
      Min: $153,108
      Latest: $208,710
      Drawdown from max: -40.1%

## 3. Treasury Sustainability Analysis¶

How long could the treasury sustain operations at various burn rates?

    Sustainability metrics:
      Avg monthly outflow: 49,831
      Avg monthly inflow: 49,831
      Avg monthly net: -0
      Months with negative net flow: 17/24

## 4. Reserve Ratio Analysis¶

The ABC's reserve ratio determines the price curve shape. How did it evolve?

    Pool composition:
      Start - Reserve: 31.0%, Common: 69.0%
      End   - Reserve: 147.6%, Common: -47.6%

## 5. Post-Conviction Voting Treasury Spending (Optimism era)¶

After conviction voting was shut down (~Dec 2023), the DAO migrated to Optimism and made manual treasury allocations. These show up as discrete balance drops in the token_balances_usd data.

    Post-CV Major Spending Events (>5% balance drop):
    Date           Token        Amount   Change  Balance After
    ------------------------------------------------------------
    2024-03-21     DAI         160,589    -53%        144,255
    2024-05-29     TEC          97,000   -100%            128
    2025-11-04     DAI          52,671    -34%        101,543

    Post-Migration Treasury Summary:
      Starting value: $344,246 (Dec 2023)
      Peak value: $348,595
      Current value: $208,710
      Total spending events: 3
      Drawdown from peak: -40.1%

## 6. Key Findings¶

    ============================================================
    TREASURY & POOLS — KEY FINDINGS
    ============================================================

    COMMON POOL:
      Peak balance: 1,073,976
      Final balance: 0
      Total outflows: 1,195,952
      Net negative months: 17/24

    RESERVE POOL:
      Peak balance: 1,119,096
      Final balance: -0

    POST-MIGRATION (Optimism):
      Treasury peaked at: $348,595
      Treasury at end: $208,710

    KEY QUESTIONS:
      1. Was the ABC tribute rate sufficient to replenish the common pool?
      2. How did the reserve ratio compare to the theoretical target?
      3. Did the treasury drawdown correlate with token price decline?
      4. Could different spending limits have extended the runway?