2023/06/29

It’s been a while since the last update, so here’s the latest:

$945,000 = Total Assets Under Management

Out of this, 425K is not owned by the Protocol. It is simply managed by us, which includes products like the Liquid Staking & Liquid Wrappers.

The remaining $520,000 is owned directly by the Guru Network. It incudes:

• $245,000 of Locked assets, such as inSPIRIT, veEQUAL, veSOLID, etc
• $160,000 of highly liquid assets, such as ETH, USDC, FTM & KAVA
• $85,000 of assets with limited liquidity, such as EQUAL, SOLID, ELR, eTHENA, etc

Now depending on your definition of “Backing”, you can personally calculate a fair price backing of ELITE. We recommend assuming it to be comprised solely of the Liquid Assets exclusively. Based on that, the “backed valuation per ELITE” is about $650.