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# System prepended metadata

title: August Update

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# 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/)
 
