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ETC Cooperative announce four more years of runway

Istora

Bob Summerwill, Director of Ethereum Classic Cooperative, has recently provided the community with an update regarding ETC Coop's funding and management status.

The announcement provides assurance that Ethereum Classic's essential maintenance operations, as well as other ecosystem development efforts, will continue for the foreseeable future.

Key takeaways were summarized by Bob in a comment on Discord:

Total spend for ETC Cooperative in 2021 was just under $500K.

Budgeted spend for ETC Cooperative in 2022 is $1.6M (we have added the Core-Geth developers since 2021 and have budget for a further three hires during the year, plus a grants program).

We are sitting on over $5M USD and several hundred K worth of ETC.

So the burn rate likely sees us with around 4 years of runway.

A blog post was also published by ETC Cooperative with further details, including a roadmap update and information about the Annual General Meeting held in March, which can be found at https://etccooperative.org/posts/2022-04-12-2021-retrospective-2022-budget-roadmap/.

This update has received positive reception, and was discussed on a recent ETC Community Call.

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