State of the Polar Economy — October 1st Half Financial Report
Polaris has performed well during the first half of October.
Fees: revenues and burn
During first half of October Polaris earned 309,744 Polar tokens in fees: 248,686 from Polar supernovas and 61,058 from partner supernovas.
In addition, 78,170 Polar tokens were burned: 70,129 from Polar supernovas and 8,041 from partner supernovas.
Also, 8,041 Polar tokens were earned by partners from their own supernovas.
BSC partner supernovas included Collective, Bricks Estate and Pinoccu. Polygon supernovas included Kommunitas.
Annualised basis
If we can maintain this two-week fee performance over a 12 month period, Polar would earn revenues of 7.4m Polar tokens. In addition, 1.9m tokens would be burned. Revenue represents about $74k/year to cover costs. The burn represents about 2.8% of our current circulating supply.
Expenses
We currently incur the following $65k/year of costs:
· $45k IT development and maintenance
· $20k community management
· $0k sales & marketing
This excludes the current project leader who is not charging the Project for part time contribution.
Target revenues required from Partner Supernovas
We have the following sales targets to maintain our current level of fees:
· Immediate: replace our 4 small expiring supernovas with other partner supernovas over the next month
· 24 months: increase our Partner supernovas four-fold over the next 24 months, to replace our own Polar supernova as they come to an end
Polar Token economics
Token prices are currently $0.0125 BSC Polar and $0.0068 Polygon Polar. This is still 10x higher than the all-time low of $0.0012 and $0.0007. However they are down from the previous end of month price of $0.0161 and $0.0095.
Polaris has 5,020 wallet addresses down from 5,050 at the beginning of the month.
Liquidity pools:
Polaris has liquidity pools currently worth $160k. This is up from $123k at the beginning of the month.
Liquidity pools are maintained in Polar-BUSD and Polar-BNB on BSC Pancake Swap; and Polar-USDC and Polar-Matic on Polygon SushiSwap. Half of each of these pools consist of Polar and half the other pair, by value.
Liquidity depth/value and diversity (281 holders by address) is vital in order to attract larger investors, traders and users.
Supernovas
Polaris has £261k total value staked across 8 supernovas, which is down from £327k at the beginning of the month.
Drop is due to 25% lower price. Some investors moved their stakes to the Polaris 30-day supernova held on Croxswap due to higher the APR% available.
Sales
We have started to introduce Polaris to other projects and invite them to participate in a Supernova.
Our sales pipeline include ‘potentials’, ‘prospects’ and ‘leads’.
· ‘Potentials’ are projects who we have introduced ourselves but we haven’t heard back from them.
· ‘Prospects’ are projects that have agreed to receive a proposal.
· ‘Leads’ are projects that have agreed to run a Supernova.
Marketing
There are many new projects that can be contacted by direct introduction through their telegram group.
We haven’t started investing in marketing due to lack of funds.
Fund raising plan
Once we have proven our business model we shall try and raise funds. After reaching the following milestones:
· IT includes bridges and unified token
· IT: added more information to supernovas
· IT: re-introduced non-competitive liquidity farms
· Sales: convert 25% of ‘prospects’
· Fees: confirm fee and burn model from partners supernovas
