# August Update ## Summary It's been a productive but intense summer. - Chainverse Portal, our search & discovery platform for understanding the people and communities who matter in Web3, launches on September 26th. Sign up for a demo [here](https://92wbzt32csw.typeform.com/to/lyHDYK10) to get early access. - The team increased spending in August and September to ramp up for the Chainverse Portal launch. We return to our target burn rate in October. - We secured partnerships with community health specialists [RNdao](https://rndao.mirror.xyz/), investigations specialists [JournoDAO](https://journodao.xyz/), and emerging trends specialists [RADAR](https://twitter.com/Radarxyz/) to fulfill market research and due diligence requests from Chainverse Portal subscribers. We are on track to launch Chainverse Portal on September 26th. Chainverse Portal has two components: - *Search and Discovery* - due diligence and market research on DAOs, protocols, and other Web3 communities. - *Client Services* - submit due diligence and market research requests for fulfillment. Chainverse Portal has two subscription tiers: - Annual: $1,000 a year. - Monthly: $100 a month. All subscribers receive a customizable embership NFT and an allocation of $DMND token. ## Financials ![](https://i.imgur.com/aFq3Br5.png) In August, we spent $73,212.83, including $15,000 on on one-time marketing and design consultants to prepare for the Chainverse Portal launch. - **Cash**: $450,000 - **Burn**: $73,212.83 - **Runway**: 6.5 months - **Revenue**: $4,500 ![](https://i.imgur.com/fe36A7d.png) We will return to our target burn rate of $55,000 in September, which will increase runway to 10 months. ## Personnel - Co-founder Christian Lemp is transitioning from engineering lead to developer relations advocate, for family reasons. - The team added two part-time research analysts to Q/A the Chainverse knowledge graph and publish content highlighting insights from the graph. ## Get involved - Sign up for a Chainverse Portal [demo!](https://92wbzt32csw.typeform.com/to/lyHDYK10) - Follow us on social media: - [Twitter](https://twitter.com/dmnddao) - [LinkedIn](https://www.linkedin.com/company/87208956/)