The Coffer

What the DAO owns, what it spends, and what it has promised to pay.

Treasury Streams Ledger

What the DAO has

Total value

4,380.209076 ETH

$10,339,807.96 · 7 assets across 6 contracts

Nouns in circulation

1,361

adjustedTotalSupply

NAV per Noun

3.218376 ETH

$7,597.21

Balances at block 26,288,549 · prices quoted 2026-10-28 03:22 UTC to 2026-10-28 03:31 UTC

What it holds

Every token the treasury holds, with its balance, its price, its value in dollars and its share of the priced total
Asset	Balance	Price	Value	Share
ETH	91.635434	$2,360.5741	$216,312.23	2.09%
stETH	0.053227	$2,354.7189	$125.34
wstETH	2,248.78448	$2,938.8896	$6,608,929.42


WETH	26.111187	$2,359.9962	$61,622.30

Total			$10,339,807.96

Where it sits

Every treasury-controlled contract, why it holds money, what it holds, and what that is worth
Contract	Holds	Value
Executor0xb1a3…ef71the main treasury; executes passed proposals

What each Noun is backed by

Total supply: 2,033
Held by the treasury itself: −672
Burned to the dead address: −0
Nouns in circulation: 1,361

The whole treasury, 4,380.209076 ETH ($10,339,807.96), over the 1,361 Nouns that have a claim on it: 3.218376 ETH each, or $7,597.21.

A Noun the treasury owns cannot claim a share of the treasury, since it is the treasury. Those are taken out of the count before anything is divided.

The reserve price

Reserve price

2.8 ETH

Backing, for comparison

3.218376 ETH

Difference

+0.418376 ETH

Multiple

1.1494×

The auction house will not sell a new Noun below 2.8 ETH, and each Noun already in circulation is backed by 3.218376 ETH of treasury.

Where it came from, and what it earns

The three panels below are measured over the whole record. Everything above this line is one reading at one block; everything below it is the record walked back through time, and each panel says how finely it was cut and what it could not reach.

What the treasury has been worth

How much the DAO has held, one reading per month.

How this is counted

Each point is the balance at one block near the end of its month. It is a snapshot, not a running total, so money that came and went inside one month does not show at all.

Weekly for a year or less, monthly for longer. Everything is in ETH, because a 2022 balance at today's dollar price is not what it was worth in 2022. Daily prices are only used to value the stablecoins.

the move to the new executorproposal 356, 2023-08-26proposal 359, 2023-09-07

Every reading, exactly

What the two treasuries held together, one reading per month
Month	Dated	Block	Held
Aug 2021	2021-09-01	13,136,435	3,455.6 ETH
Sep 2021	2021-10-01	13,330,109	7,700.41 ETH
Oct 2021	2021-10-31	13,527,733	13,291.74 ETH
Nov 2021	2021-11-30	13,717,796	15,581.73 ETH
Dec 2021	2022-01-01	13,916,166	16,822.2 ETH
Jan 2022	2022-01-31	14,116,551	18,926.4 ETH
Feb 2022	2022-03-01	14,297,761	20,523.07 ETH
Mar 2022	2022-04-01	14,497,044	21,973.5 ETH
Apr 2022	2022-04-30	14,688,594	22,991.32 ETH
May 2022	2022-05-31	14,881,662	24,661.62 ETH
Jun 2022	2022-07-01	15,053,306	27,265.42 ETH
Jul 2022	2022-07-31	15,253,269	26,350.18 ETH
Aug 2022	2022-08-31	15,449,521	27,782.56 ETH
Sep 2022	2022-10-01	15,649,624	29,027.12 ETH
Oct 2022	2022-11-01	15,871,500	29,416.74 ETH
Nov 2022	2022-12-01	16,086,266	28,892.83 ETH
Dec 2022	2023-01-01	16,308,190	28,269.28 ETH
Jan 2023	2023-01-31	16,530,247	27,965.31 ETH
Feb 2023	2023-03-01	16,730,072	27,917.21 ETH
Mar 2023	2023-03-31	16,950,602	28,343.23 ETH
Apr 2023

The move to the new executor falls inside this window and is ruled on the chart: proposal 356 on 2023-08-26, when 2,500 ETH and 19,461.95 stETH moved to the new executor, then proposal 359 on 2023-09-07, when the remaining 2,296.12 ETH, 5,069.38 stETH, 30.20 wstETH, 518.51 rETH and 500,000 USDC followed. Both executors are read at every point and added together, so the handover moves nothing in or out of this line — a fall beside those rules is money that left the DAO, not money that moved between its own addresses.

over the whole record · 63 of 63 months drawn

What it is made of

The same readings, split by asset, so you can see the DAO's investment history at a glance.

How this is counted

Each band is one asset's balance, converted to ETH at that block. There is no "other" band, so a column's height is the sum of its bands and matches the line in the chart above.

The bands stay in the same order in every column. What you are looking for is a boundary moving, and re-sorting by size each month would hide that. The legend shows the latest split, not a total, because adding one month's stETH to the next would count the same coins twice.

What the DAO earned

Three separate sources, each measured over the time frame above from what actually happened, not projected from today's rate.

How this is counted

Auction proceeds come from the auction house's own settlement history, which starts at the Noun and date shown next to the figure. It is not an all-time total.

Staking yield uses each protocol's own exchange rate, not a market price, and only counts stretches where the staked balance did not change.

When the DAO buys an asset with ETH, the asset arrives looking like a gift, because the ETH going out leaves no log. Arrivals are listed one by one so you can see who sent them.

Only the tokens the treasury actually holds are counted. Airdrops and unknown tokens are left out.

A Noun minted to the treasury because nobody bid on it is an asset arriving, not income. The DAO paying itself would be circular.

What was left out of the arrivals, and why

14 movements minted by a protocol the DAO staked or wrapped with — a conversion of one asset into another, not an arrival.
250 movements arrived at a contract whose job is converting the DAO's own ETH into the stablecoin it pays grants in.
12 movements moved between the DAO's own addresses — an internal transfer, not income.

What these charts leave out

Staked ETH is converted at each protocol's own exchange rate at that block, not at a market price.

If a balance could not be read, or could not be valued, that spot is left blank. It is never drawn as zero.

The Nouns the treasury holds are counted but not priced. There is no fair historical price for them.

Reading the record

Walking back through the whole record, one balance per bucket, across both executors. This is a fresh read on a window nobody has asked for in the last ten minutes; it appears here as soon as it lands.

What the staked positions are projected to earn

Each staked position, its recent protocol rate, and what that rate would pay on the current balance over a year
Position	Balance	Rate	A year at that rate	In ETH	In dollars

Token Buyer0x4f2a…cfe5swaps ETH for USDC to fund the Payer	0.000005 ETH	$0.01

Payer0xd97B…8E1Dpays USDC-denominated grants	88,858.8657 USDC	$88,806.45

Governor0x6f3E…223dholds a small ETH balance	8.906576 ETH <0.000001 WETH	$21,024.63

Client rewards0x8838…1d55accrues WETH client-incentive rewards	26.090588 WETH	$61,573.69

Timelock V10x0BC3…dE10the retired timelock, which still holds a remainder	<0.000001 stETH	$0.00

Total	$10,339,807.96

wstETHLido	2,248.78448	2.32%	52.242479	65.041332 ETH	$153,534.88

rETHRocket Pool	163.089312	1.82%	2.972738	3.485773 ETH	$8,228.43

mETHMantle	934.89446	1.91%	17.890234	19.683744 ETH	$46,464.94

May 2023	2023-06-01	17,382,300	28,524.22 ETH

Jun 2023	2023-07-01	17,595,512	28,791.07 ETH

Jul 2023	2023-08-01	17,816,436	29,483.1 ETH

Aug 2023	2023-08-31	18,037,950	30,498.08 ETH

Sep 2023	2023-10-01	18,252,175	14,102.71 ETH

Oct 2023	2023-10-31	18,473,541	5,575.11 ETH

Nov 2023	2023-11-30	18,687,594	8,722.01 ETH

Dec 2023	2023-12-31	18,908,726	6,357.15 ETH

Jan 2024	2024-01-31	19,129,811	6,319.23 ETH

Feb 2024	2024-02-29	19,336,483	5,947.82 ETH

Mar 2024	2024-04-01	19,557,408	5,693.58 ETH

Apr 2024	2024-05-01	19,771,687	5,654.99 ETH

Every reading, by asset

ETH-equivalent held per asset, one reading per month
Month	Dated	ETH	stETH	Held
Aug 2021	2021-09-01	3,455.6 ETH	0 ETH	3,455.6 ETH
Sep 2021	2021-10-01	7,700.41 ETH	0 ETH	7,700.41 ETH
Oct 2021	2021-10-31	13,291.74 ETH	0 ETH	13,291.74 ETH
Nov 2021	2021-11-30	15,580.73 ETH	1 ETH	15,581.73 ETH
Dec 2021	2022-01-01	15,316.8 ETH	1,505.41 ETH	16,822.2 ETH
Jan 2022	2022-01-31	15,909.92 ETH	3,016.48 ETH	18,926.4 ETH
Feb 2022	2022-03-01	17,495.93 ETH	3,027.14 ETH	20,523.07 ETH
Mar 2022	2022-04-01	18,935.65 ETH	3,037.85 ETH	21,973.5 ETH
Apr 2022	2022-04-30	18,441.55 ETH	4,549.77 ETH	22,991.32 ETH
May 2022	2022-05-31	20,097.24 ETH	4,564.38 ETH	24,661.62 ETH
Jun 2022	2022-07-01	22,686.04 ETH	4,579.38 ETH	27,265.42 ETH

From auctions

1,415.336 ETH

$3,269,464.96

714 of 882 settlements drew a bid

From staking

1,031.0283 ETH

$2,381,703.62

measured across 4 positions

Returned and received

1,360.6814 ETH

$3,143,211.38

55 arrivals from outside

Together

3,807.0456 ETH

$8,794,379.95

understated: staking yield could not be fully measured

The last 138 auction settlements raised nothing. A bid has to clear the reserve price of 2.8 ETH before an auction settles for anything, and none has. The last settlement that raised anything was Noun 1918 on 2026-05-29, for 2.8 ETH.

Inside this window the auction house settled 882 Nouns, of which 714 drew a bid, raising 1,415.336 ETH in total. These come from the auction house's own stored settlement history, which begins at Noun 1103 on 2024-05-06. Anything before that date is not in this figure, so it is not an all-time total.

What the staked positions actually earned

Each staked position, the rate it is measured from, how far that rate moved over this time frame, and the ETH it earned
Position	Measured from	Rate at the start	Rate at the end	Rate moved	Earned	In dollars
stETHbalance grows — booked as revenue	stEthPerToken()	1.034471	1.24725

The staked positions earned 1,031.0283 ETH over this window, measured from each protocol's own published exchange rate at the blocks either end — never from a market price, which reads below the protocol rate and would understate every one of these figures.

121.4493 ETH of that is UNREALISED APPRECIATION rather than revenue. 3 positions of the 4 here do not rebase: the balance sits still and the exchange rate rises, so the gain is real and a profit-and-loss statement does not recognise it until the position is sold. The other position rebases, and a growing balance is revenue an accountant ships. The move out of rebasing tokens is why reported revenue can fall while earnings do not.

382 balance changes were too small to open their own stretch of measurement and are carried inside the one around them. They move the running balance and not the method, and the count is published so the bound can be checked rather than assumed.