Dash’s founder quipped that the coin “can afford” a Super Bowl advertisement, highlighting the power of Dash’s treasury.
A post on /r/Bitcoin, the larger Bitcoin subreddit, noted the cost of a single second of airtime for advertising during American football’s Super Bowl, and presented a hypothetical donation scheme that would over two seconds of airtime to promote Bitcoin:
Evan Duffield, head of Dash Labs and Dash’s founder, was quick to leave a comment, pointing out that, thanks to the treasury system, Dash already had enough funding to afford such an advertisement:
Dash’s treasury system is a powerful funding mechanism
While a certain degree of promotion for decentralized projects like cryptocurrency comes from word of mouth, having a dedicated promotional and development fund can help streamline the process. For projects where 100% of the block reward of new coins created, as well as transaction fees, goes to miners, such a fund is either financed by large holders and businesses, or by crowdfunds. An example of such a crowdfund is the marketing fund for Bitcoin Cash, one of the top three ranked cryptocurrencies by market cap, has reached almost $94,000.
In comparison, Dash, currently ranked #6 in the cryptocurrency market cap rankings (with a total valuation of around one sixth that of Bitcoin Cash), has a monthly budget of nearly $4.2 million. To use the above example of marketing, this means that right now Dash would be able to fund a 20 second Super Bowl advertisement every single month, and still have around $800,000 left to fund the various organizations in the network such as the development team.
The Dash network is growing in size and strength
Dash’s network is experiencing exceptional growth due to the coin’s increase in value and its effects on the 10% block reward treasury. Currently, 39 different proposals are before the network seeking funding. At time of writing, 26 of them are set to pass, for a total of about $2.29 million in funding. Operating under the Dash network are three main groups (Dash Core, Dash Force, and Dash Labs), as well as dozens of other contractors helping to grow the network.
Earlier this year, Dash sponsored the Great American Pilgrimage, a show on RT featuring Stephen Baldwin and Max Keiser. At that time, the sponsorship was a significant item in the budget, costing around $500,000. At the treasury’s present valuation, however, for November’s cycle Dash could afford to fund eight projects of similar size, to say nothing of future months.