Euler Finance

Summary We are proposing that Messari provides semi-annual financial reports for Euler. This would serve to better inform existing stakeholders as well as attract new ones.

These reports would live as free resources on Messari and would be distributed through our newsletter, various social channels, and distribution partners including S&P Global and Bloomberg.

We are requesting a $50,000 grant to support the work that goes into creating these reports.

Motivation Investor relations are a necessary function of any company to keep existing stakeholders adequately informed while also attracting new ones through better surfacing of fundamental data. This is even more essential in the open-source world of crypto where there are a wider set of stakeholders including users, developers, and investors that can actively contribute value to the DAO allocating their time and money to grow the network.

While projects often have scattered data dashboards, analytics pages, or other resources to better understand the protocol and the economic activity around it, there remains a need for standardized reporting so that anyone can analyze it like they would using a company’s annual financial statement.

As we continue in a bear market, this becomes increasingly important as people tend to overweight price as their barometer of project success. By outsourcing this critical investor relations function to a specialist firm, Euler can be better positioned to withstand turbulent times and retain the mindshare of major crypto participants.

Background Messari is a team of crypto natives passionate about building powerful data analytics tools for the web3 world. The company was started in early 2018 and has since scaled to over 120 employees after raising a Series A led by Point 72 Ventures. We recently received a $12.5 million grant from The Graph to become a core developer to build and standardize subgraphs creating a robust open-source data infrastructure for the broader crypto ecosystem.

Messari’s core products include Messari Enterprise, a leading market intelligence platform for crypto professionals as well as Messari Protocol Services, an outsourced research and investor relations service for many of the top DAOs. This has included long-form research, comprehensive data dashboards, and quarterly reporting for over 150 projects.

We have worked with Euler in the past on an initiation of coverage report as well as subgraph development

Specification We’ll create two semi-annual reports with the first released in early Jan '23, that present and analyze key KPIs and fundamental metrics (loans originated, deposits, protocol revenue, etc.) from both a macro protocol level as well as more granular specific markets. The report will delve into major governance developments, upgrades, and key roadmap initiatives on a recurring basis.

These reports would be sent out to our newsletter that reaches over 250k crypto professionals as well as redistributed on the Bloomberg terminal, S&P Capital IQ, and Refinitiv, three of the largest traditional finance platforms in the world with over 1 million active users.

Pricing The reports are $25k/per bringing total cost to $50,000 paid in stablecoins