Period: Oct 21, 2025 → Dec 31, 2025
Currency: USDC
Accounting view: Cash basis (expenses recognized when paid)
Currency: USDC
Accounting view: Cash basis (expenses recognized when paid)
What Happened This Quarter
During the Oct 21–Dec 31 reporting period, Loyal achieved several key milestones:- Fundraise: Raised via MetaDAO on Oct 21 with 2,500,000 USDC net received (team accounting figure)
- Shipped:
- askloyal.com — private LLM with agentic skills
- Loyal Telegram app — private AI for Telegram (summaries, spam filtering, etc.)
- Team buildout: Hired a developer, UX/UI designer, two Discord moderators, and a community lead
- Governance executed: Two MetaDAO proposals passed during the period
Organizational Status
| Item | Status |
|---|---|
| Scope | Consolidated reporting for Loyal (no separate “company ops” vs “DAO ops” separation at this stage) |
| Incorporation | In progress in the Marshall Islands (documents submitted, KYC passed; awaiting certificate issuance) |
| Legal provider | MiDAO |
Expense Details
Total operating expenses paid (Oct 21–Dec 31): 131,803.94 USDCThis operating expense summary excludes governance-directed capital actions (e.g., buybacks and liquidity changes), which are disclosed separately and are inherently dynamic.
Monthly Breakdown
| Category | Oct 21–31 | Nov | Dec | Total |
|---|---|---|---|---|
| Salaries | 20,759.00 | 36,300.00 | 30,931.00 | 87,990.00 |
| Marketing | 355.07 | 6,309.64 | 14,694.61 | 21,359.32 |
| Legal | 5,000.00 | 1,848.00 | 2,800.00 | 9,648.00 |
| Administrative | 0.00 | 4,776.75 | 1,100.00 | 5,876.75 |
| Travel | 0.00 | 1,495.60 | 2,583.30 | 4,078.90 |
| Software | 248.00 | 346.12 | 2,256.85 | 2,850.97 |
| Total | 26,362.07 | 51,076.11 | 54,365.76 | 131,803.94 |
Statement of Operations
Spending Analysis
- Salaries (66.76%) represent the majority of spending, consistent with a post-raise build phase (engineering, design, and community operations)
- Marketing (16.21%) increased materially in December relative to October/November, indicating intensified distribution and/or launch preparation activities
- Legal (7.32%) reflects ongoing structuring and legal work during incorporation and operational setup
- Administrative + Software (6.62% combined) remain comparatively low as a share of total spend, indicating a lean tooling/overhead posture during this initial period
Income Statement
| Line Item | Amount (USDC) | % of Operating Expenses |
|---|---|---|
| Revenue | 0.00 | — |
| Total revenue | 0.00 | — |
| Operating expenses | ||
| Salaries (including R&D) | 87,990.00 | 66.76% |
| Marketing | 21,359.32 | 16.21% |
| Legal | 9,648.00 | 7.32% |
| Administrative | 5,876.75 | 4.46% |
| Travel | 4,078.90 | 3.09% |
| Software | 2,850.97 | 2.16% |
| Total operating expenses | 131,803.94 | 100.00% |
| Operating income (loss) | (131,803.94) | — |
| Other income (expenses) | 0.00 | — |
| Net income (loss) | (131,803.94) | — |
Balance Sheet
Published Addresses
View on-chain addresses
View on-chain addresses
| Wallet | Address |
|---|---|
| Squads treasury | AQyyTwCKemeeMu8ZPZFxrXMbVwAYTSbBhi1w4PBrhvYE |
| Meteora LP | BGg7WsK98rhqtTp2uSKMa2yETqgwShFAjyf1RmYqCF7n |
| Operating | 92yGiPxBVG3E6voo1XyaKXaBR4Uvd7cntMsj3pL1fAYa |
| LOYAL mint / CA | LYLikzBQtpa9ZgVrJsqYGQpR3cC1WMJrBHaXGrQmeta |
| Futarchy AMM LP | GxpJkPEsPmuRCCTNnfZaDKg4X3gf4ZPgmqgFqtibaPtK |
USDC Assets
| Asset | Amount (USDC) |
|---|---|
| USDC — Squads treasury | 320,000 |
| USDC — operating wallet | 31,091 |
| USDC — in Futarchy AMM LP | 486,558 |
| Total USDC assets | 837,649 |
Token Balances
| Asset | Amount (LOYAL) |
|---|---|
| LOYAL — held in treasury | 5,833,214 |
| LOYAL — in Futarchy AMM LP | 5,833,214 |
| LOYAL — in Meteora LP position | 2,055,257 |
| Total LOYAL units | 7,978,525 |
Governance Actions
Loyal’s treasury is governed through MetaDAO proposals and executed transparently on-chain. In the early stage, treasury strategy has two parallel objectives:- Fund product development and operations
- Manage market structure responsibly via governance-approved actions
Buyback LOYAL Up To NAV
Status: PassedThe community approved a structured, time-distributed LOYAL buyback program, designed to buy tokens using treasury funds with a defined maximum price.Key terms:
- Allocation: $1.5M of treasury funds
- Asset: LOYAL token
- Max price: 0.238 per LOYAL
- Mechanism: Recurring orders every 5 minutes over 30 days (8,640 orders)
Liquidity Adjustment Proposal
Status: PassedThe community approved a liquidity action intended to reduce unnecessary selling pressure from a single-sided liquidity position.Key terms:
- Action: Withdraw 90% of tokens remaining in the single-sided Meteora DAMM v2 pool and burn half of this amount
- USDC: Withdrawn USDC remains in the project treasury
- Pool address:
BGg7WsK98rhqtTp2uSKMa2yETqgwShFAjyf1RmYqCF7n - Referenced amount: 809,995 LOYAL