Sphere Finance Treasury and Financial Report: Q1 2024

View the report: https://twitter.com/SphereDeFi/status/1793459309499596829

The numbers are in, Sphereans 📣

Our Treasury Report for Q1 2024 is out, and it makes one thing clear.

We're just getting started 🔮

Let's get into the highlights and explore:

➡️ Our market review
➡️ Key takeaways and figures
➡️ Upcoming plans

Let's begin ⏬

Market Review

In Q1, the crypto market surged 📈

💲 Total market cap nearly doubled from the previous quarter to $2.9T, fueled by Bitcoin's strength, Ethereum upgrades which facilitated reduced fees on L2s, and increasing institutional adoption.

Key Performance Figures

🦾 Despite a Dyson concentrated liquidity exploit costing $148K (which we launched a full reimbursement campaign to affected users for), compared to the same period last year, Sphere's Q1 financial performance was stellar:

🔮 Revenue up 77%
🔮 Net income soared 312%
🔮 Expenses down 16%

How did we achieve these impressive results?

♟️ Through strategic investments in $ETH, $MATIC and diversifying our portfolio. Additionally, our proactive approach to creating new partnerships expanded our market reach.

But that's not all.

🔮 Q1 has set the stage for Sphere's next phase:

➡️ Preon V2 launch 🌟 Driving liquidity to $STAR with new tokenomics
➡️ SphereLend 🟣 Ecosystem-native zero-interest lending
➡️ Sphere tokenomic upgrade & V3 integration 💜
➡️ New Dyson vaults & collateral types ⚡

⚛️ We've strengthened our team's positioning with experts who bring a wealth of knowledge to our financial operations. With your support, we're pushing boundaries and bringing Sphere to new heights.

There's so much more in the pipeline that we can't announce just yet.

But one thing's for sure - this is merely the beginning for the Sphere ecosystem's rise 💜

And we're happy to have you along on the journey, Sphereans 🦾

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Sphere Finance:
https://sphere.finance/
https://x.com/SphereDeFi

Preon:
https://www.preon.finance/
https://twitter.com/PreonFinance

Dyson:
https://www.dyson.money/
https://twitter.com/dyson_money

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Price Time received compensation for this content creation.
Price Time is a $SPHERE token holder.
Price Time's Channel: https://www.youtube.com/c/PriceTimeCrypto

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#defi
#ethereum

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#sphere #sphere_finance #ethereum #ethereum_etf #crypto #cryptocurrency #defi #liquidity #yield_farming #yield #matic #polygon #wmatic #zkevm #ethereum_scaling #crypto_yield #crypto_income #treasury #treasury_metrics #treasury_analytics

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