Whakaroa i tō runway me te kore e whakaiti i te hunga mahi
E rua ngā ira hua tāpiri mō te tekau mā waru marama o te huarahi e hoko ai i ngā wiki o te wā tāpiri. Anei te tatauranga.
Kāore i te inihua FDIC · Tangohanga i roto i ngā hāora 48 · E hiahiatia ana te KYB · Reiti mai i te Mahuru 2026
Te putanga poto
- Ka pau tētahi rauna i roto i ngā marama tekau mā waru, nō reira ko te nuinga he pūtea rāhui mō te nuinga o taua wā. Puta noa i te wā, ko te toharite o te toenga he haurua o te moni tīmatanga.
- Two extra points of annual percentage yield (APY) on an eighteen-month runway buys about eight days of runway. That is less than the number usually quoted, and the size of the round does not change it.
- Ko te paparanga tuatoru anake o te moni e whai mana ana. Ka noho tonu te whakahaere me te puranga ki te peeke, a koina te mea e taea ai te whakamahi i te rahui.
- Ka tango te tangohanga i te 48 haora. I runga i te taumata kua raka, ka hoki mai te moni i te putanga moata, ka ngaro te huamoni kua whiwhi, kaore he whiu mo te moni matua.
- Kāore i te inihua FDIC. Ka hipokina ngā pūtea e OpenCover i runga i ngā Tikanga Tairongo kua tautuhia e Coinstancy, i raro i ngā tikanga here, ngā herenga me ngā aukatinga.
He aha te utu o te moni noho noa ki a koe i muri i te whakaarahanga.
A round is not spent on the day it closes. It is spent over eighteen months, which means most of it is a reserve for most of that time, sitting at whatever rate nobody chose.
Ka tae te katoa o te rauna ki tētahi pūkete
The wire arrives in the operating account, the account least likely to pay anything. In the weeks that follow, nobody owns the job of moving the portion that will not be spent, because everybody is hiring.
Ko te nuinga o ērā e kore e neke mō te tau kotahi
I runga i te tekau mā waru marama o te huarahi me te mura pūmau, tata ki te hautoru o te rauna kei runga tonu i te pukapuka whakataunga i te marama tekau mā rua. Ko taua wāhanga he rāhui ahakoa ka kīia e tētahi i te kamupene he rāhui.
Ko te reiti e whiwhi ana koe ko tērā kāore i whiriwhiria e tētahi
Whatever the bank applies by default becomes the treasury policy. Tiered balances, promotional windows and relationship conditions all sit between the advertised number and the rate on your statement. For scale, the FDIC national deposit rate for savings accounts was 0.37% as of September 21, 2026 (FDIC), while the 3-month Treasury par yield was 4.25% on September 29, 2026 (US Treasury). The gap between those two figures is the negotiation nobody had.
Ko te hua kua whakarerea, ko te huarahi, kua whakahuahuatia anō
Interest not earned and cash spent are the same line in the model. The question is not whether the reserve should earn something. It is how much of the balance can safely sit two business days away from you.
E hia te nui e noho ana ki reira
Take a round spent evenly over eighteen months. A third of it is still on the balance sheet at month twelve, and across the whole period the balance averages half the opening amount. That average is the number the yield decision is made on, not the headline round size.
| Round raised | Still held at month 12 | Average balance over 18 months |
|---|---|---|
| $3,000,000 | $1,000,000 | $1,500,000 |
| $6,000,000 | $2,000,000 | $3,000,000 |
| $10,000,000 | $3,333,000 | $5,000,000 |
Te whakapau tika, kāore he moni whiwhi, kāore he whai muri. Ka piki haere ngā ānau whakapau tūturu ina utu koe i ngā kaimahi, ka heke iho te toharite. Whakamahia tō ake hītori toenga, kaua tēnei ripanga.
E rua ngā ira o te hua, i roto i ngā wiki o te rerenga.
Below is the full calculation for one company shape, so you can check it against your own model. It is an illustration, not a promise. The honest answer is smaller than the one usually quoted.
Te kamupene i tēnei tauira
- 01
Tīmata mai i te toharite o te toenga, kaua ko te toenga tuatahi
Ka whakapau koe i te moni i a koe e haere ana. Ki te mura tika, ko te toenga i roto i nga marama tekau ma waru ka toharite i te haurua o te toenga whakatuwheratanga: $2,250,000, kaua ko $4,500,000.
- 02
Tukuna te horahanga ki runga i te wā
$2,250,000 × 2.00 ngā ira × 1.5 tau = $67,500 o te huamoni tāpiri, i mua i te tāke me i mua i te whakahiato.
- 03
Wehea ki te mura ā-marama
$67,500 ÷ $250,000 ia marama = 0.27 marama o te huarahi tāpiri.
- 04
Hurihia ki te waeine e whakamahia ana e te poari
0.27 months is about eight days, a little over one week. That is the honest answer for this shape, and it is smaller than the number most decks quote.
Ka whakakorehia te rahi o te rauna.
Spread as a decimal, runway in years, deployed share as a decimal. Run the eighteen-month case through it (26 × 0.02 × 1.5² × 1) and you get 1.17 weeks, the same eight days as the long version above. Two companies with the same runway and the same spread gain the same number of weeks whether they raised $3M or $30M. What moves the answer is the length of the runway, because it enters squared, and the share of the balance you are willing to place two business days away.
Ngā wiki kua riro, mā te roa o te papa rererangi
| Te papa rererangi i te tīmatanga | 2.00 points, no-lock tier at 6.00% | 2.75 points, 12-month tier at 6.75% |
|---|---|---|
| 12 marama | 0.5 wiki (4 ngā rā) | 0.7 wiki (5 ngā rā) |
| 18 marama | 1.2 wiki (8 ngā rā) | 1.6 wiki (11 ngā rā) |
| 24 marama | 2.1 wiki (15 ngā rā) | 2.9 wiki (20 ngā rā) |
| 30 marama | 3.3 wiki (23 ngā rā) | 4.5 wiki (31 ngā rā) |
| 36 marama | 4.7 wiki (33 ngā rā) | 6.4 wiki (45 ngā rā) |
Illustration only. Straight-line burn, the entire balance deployed, simple interest, before tax, against a hypothetical 4% baseline, an assumption set near the 3-month Treasury par yield of 4.25% on September 29, 2026 (US Treasury). Coinstancy Pro rates as of September 2026 and not guaranteed.
- It assumes the entire balance is deployed. It will not be, so multiply the result by the share that actually sits in the product. At 60% deployed, the eighteen-month, two-point case is about five days, not eight.
- The two points are an illustration against a hypothetical 4% baseline, not a quoted or sourced bank rate. Use the effective rate from your own statement instead.
- Simple interest, before tax, no compounding. Neither the baseline nor the 6.00% tier is a guaranteed rate.
- The 2.75-point column requires the twelve-month lock. Exit that tier early and capital is returned while accrued interest is forfeited, so the weeks gained go back to zero.
- Ka tango ngā tangohanga ki te 48 hāora. Ka pā noa tēnei tatauranga ki te moni e taea ana te tatari mō ngā rā mahi e rua.
- Ko te putanga ka kite koe i wāhi kē, ka pā te reiti katoa ki te toenga whakatuwheratanga katoa mō te wā katoa. Ka tāruarua tērā i te moni kua whakapaua e koe, ā, ka tāruarua te whakautu.
Whakahaere, pūtē, rāhui.
Ko te whakatau tohatoha ehara i te "me neke te moni". Engari ko "ko tehea paparanga o te moni", a ko te whakautu ko te tuatoru anake.
Whakahaere
Ko nga utu kaimahi, nga nama, nga taake me nga whakapaunga kaari kua whakaritea. Ko tenei paparanga kaore rawa he kaitono mo tetahi mea e whakatau ana i roto i nga haora 48, ahakoa he aha.
Buffer
The layer that absorbs a surprise: a delayed collection, an unplanned hire, a bridge to the next tranche. It is also what makes the reserve deployable: the buffer covers the 48-hour window so the reserve never has to be reached in a hurry.
Reserve
Ko te toenga i muri i te whakawhiwhinga o ngā papa e rua tuatahi, ā, ka taea e koe te whakaingoa i tēnei rā hei kore e hiahiatia mō ngā marama e toru neke atu rānei. Ko tēnei anake te papa i hoahoatia ai tēnei hua mōna.
Applied to the $4,500,000 and $250,000 monthly burn from the previous section. The split is a worked example, not a recommendation. The buffer in particular should come from your own worst month, not ours.
| Layer | Kua whakaritea ki te | Te nui | Where it sits |
|---|---|---|---|
| Whakahaere | 2 marama o te whakapau | $500,000 | Pūtea peke |
| Buffer | 3 marama me te tāpiritanga | $1,000,000 | Pūtea penapena peke, pūtea mākete moni rānei |
| Reserve | Te toenga | $3,000,000 | He kaitono mō te tohatoha |
Two thirds of the balance ends up as reserve here. Feed that back into the formula (26 × 0.02 × 1.5² × 0.67) and the eighteen-month case gives about 0.8 weeks rather than 1.2. Segmentation costs weeks, and it is still the right order of operations.
Kāore e hiahiatia kia uru tētahi rāhui ki tētahi taumata kotahi. Mā te wehewehe i ngā wā ka puta tētahi wāhanga i ia hauwhā, he mea nui ake tērā ki tētahi kamupene ka whakaara, ka utu, ka huri rānei i roto i te wā.
- Ko ngā taumata he 3, 6, 9 me 12 marama, nō reira ka taea te wehewehe i tētahi rāhui, kaua mā te kati i tētahi poraka kotahi
- Ko te wehewehe i te rāhui i ngā taumata, ko te tikanga ka puta tētahi wāhanga i ia hauwhā me te kore e puta wawe
- Ko te taumata kore-rakau i te 6.00% ka taea te pupuri i te wāhanga e iti rawa ai tō mōhio
- Ko te reiti whakataki 7.00% e pā ana ki ngā marama e ono tuatahi, ehara i te taumata pūmau
- Early exit on any locked tier returns capital and forfeits accrued interest, with no penalty on principal
He aha ngā kaiwhakawhiwhi e whakaaro ana mō tēnei tohatoha.
Kāore mātou e kōrero mō ō koutou kaiwhakahaere moni, ā, kāore mātou e whakaputa kōrero mō rātou. Ko tā mātou e taea ai ko te whakarārangi i ngā pātai e puta ake ana i tēnei tohatoha, me te āhua o te whakautu e tika ana mō ia pātai.
| Te pātai | He aha tāu e tika ana ki te kī |
|---|---|
| Kua inihua tēnei? | No, not in the sense the question means. There is no Federal Deposit Insurance Corporation (FDIC) insurance. Funds are covered by OpenCover on Sensitive Protocols defined by Coinstancy, subject to policy terms, limits and exclusions. The cover responds to specific protocol events: code bugs, oracle manipulation or failure, liquidation failure and malicious governance takeover. |
| What happens if we need the money? | Ka wātea ngā tangohanga i roto i ngā hāora 48. I runga i te taumata kua maukati, ka whakahokia te moni matua mēnā ka puta wawe, ā, ka ngaro te moni huamoni kua whiwhi, kāore he utu ki te moni matua. Koia tonu te take e noho ai ngā papa whakahaere me ngā papa parepare ki te pēke. |
| Nō hea te hua ka puta mai? | Lending and liquidity provision on selected protocols (Curve, Pendle, Balancer, Beefy, Aave and StakeDAO), not a promotional subsidy. That is also why it is not guaranteed and carries risks a bank deposit does not. |
| Ko wai e pupuri ana i ngā pūtea? | Coinstancy is custodial: your funds first enter a secure multisignature wallet operated by Coinstancy, then are deployed into the selected protocols. You hold no keys. Coinstancy manages the allocation and the monitoring; you interact with the dashboard. |
| He peti crypto tēnei? | Eligible assets are USD or USDC only. The exposure is smart contract risk and stablecoin risk, not price risk on a volatile asset. Depeg of the underlying stablecoin is explicitly not covered. |
| How large is the allocation? | That is the number to bring already decided: the reserve slice as a percentage of total cash, with a floor under the operating and buffer layers, a named approver and a review cadence. |
He ngawari ake te whakaae ki te tohatoha ina tae mai hei kaupapa here me nga rohe, kaua ki te nama hua. E ono nga rarangi e rawaka ana i te nuinga o te wa.
- Eligible instruments, named, and the ones explicitly excluded
- He papa pakeke i roto i nga marama o te wera e tika ana kia noho tonu ki te peeke
- He wahanga morahi o te katoa o nga moni kua tohatohahia ki waho o nga putunga kua inihuatia
- Ko wai e whakaae ana ki te putunga moni, a ko wai e whakaae ana ki te tangohanga
- He huringa arotake, me nga tikanga e puta ai te wetewete
- How the position is described in board reporting and in the audit file
Any one of these on its own is a sufficient reason to leave the cash where it is.
- Your investor agreements or side letters restrict where corporate cash may be held
- Your treasury policy bars any smart contract exposure, and nobody wants to reopen it
- Kei raro i te tekau mā rua marama te runway, ko ngā wiki kua riro he rā, ā, he pai ake te whakapau kaha ki wāhi kē atu
- Kei waenganui koe i te kohi pūtea, ā, ka taea te neke o te toenga i runga i te pānui poto
- Kāore he tangata o te rōpū e āhei ki te pupuri i te tūranga, te pūrongo me te arotake
- Ko te korenga o te inihua FDIC he rārangi pakeke mā tō poari, he tūranga tika tērā
Ko te whānuitanga o te kapinga katoa, me ngā kaupapa kua kapinga me ngā whakakorenga, kei te whārangi kapinga me te mōrearea. Ko te āhua o te kōwhiri me te arotake i ngā kawa kei te whārangi kawa.
Te tātaitai huarahi rererangi.
Ko ngā mea katoa i runga ake nei he āhua kamupene kotahi. Ko tōu he rerekē te ānau wera, he rerekē te rārangi moni whiwhi, he rerekē hoki te reiti pēke, ā, ka huri katoa ēnei e toru i te whakautu.
Te reiti wera me te tātaitai huarahi rererangi
Whakaurua te moni kei te ringa, te moni whiwhi ā-marama me ngā whakapaunga ā-marama. Ka hoki mai te net burn, ngā marama o te runway, me te mea ka whiwhi te wāhanga noho noa i taua wā anō.
Rānei mahia i te tuarā o te kōpaki
E rua ngā rārangi, ā, ka taea e koe te tirotiro i te tātaitai ki a rātou. Puritia te runway i roto i ngā tau i te rārangi tuarua, nā te mea ka uru ki te pūrua.
Use the effective rate from your last statement as the baseline for the spread, not a headline rate from a comparison page, including ours.
Ko ngā tātaitai e rua he whakaahua i hangaia i runga i ngā kōwhiringa ka tukuna e koe. Ehara ēnei i ngā matapae, ehara i te tohutohu, ā, kāore he reiti e whakaatuhia ana e pūmau ana.
Whakaritea i roto i te wiki kotahi.
E rima ngā rā mahi i tō taha, i te raupapa. Ka kati te take mārama i roto i te wiki; ko te kōnae e hiahia ana ki te whakamārama kāore e kati, ā, he pai ake te kī atu i konei i te mea kua tīmata koe.
Whakaritea ngā paparanga e toru
Rā 1Pull twelve months of balance history. Set the operating floor from committed spend, set the buffer from your worst month plus a contingency. What is left is the reserve, and it is the only figure the rest of the week depends on.
Write the one-page policy
Day 2Eligible instruments, the floor that stays at the bank, the maximum share allocated, the approver and the review cadence. Circulate it to whoever signs before anything else moves.
Gather the KYB file
Rā 3The Know Your Business (KYB) file: company registration documents, beneficial ownership information and identification for signatories. The funding account must be in the name of the contracting entity. Most of the elapsed time in onboarding sits on this step, not with us.
Tukuna me te arotake i ngā tikanga
Rā 4Tukuna te kōnae, kātahi ka pānui i te whakaaetanga me ngā tikanga kapinga ki te tangata e haina ana. Ko te whānuitanga o te kapinga, ngā whakakorenga me ngā rohe he mea tika kia pau te hāora i mua i te putunga tuatahi, kaua i muri i a ia.
Kōwhiria te taumata, kātahi ka pūtea
Rā 5Kōwhiria tētahi taumata kotahi, wehea rānei te rāhui ki ngā taumata 3, 6, 9 me 12-marama. Pūtea i roto i te USD mai i te pūkete rangatōpū kua whakamanahia, i roto rānei i te USDC mai i tētahi toenga o nāianei, ina kua whakaaetia te KYB.
He aha te mea e pana ana i tua atu o te wiki
Ko te wiki kotahi te wātaka mō tētahi kamupene kua noho kē ngā tuhinga rangatōpū ki tētahi kōpaki. Ko ngā mea katoa i raro nei ka tāpiri rā, ā, kāore tētahi o ēnei i te mea noa.
Ngā puna me ngā pānuitanga atu anō
Ka whakawhirinaki ngā tatauranga me ngā kerēme o tēnei whārangi ki ngā tuhinga kei raro nei. Ka neke ngā tatauranga pā ki te wā (reiti, hua, utu, raraunga mākete): tirohia te uara ora i te puna i mua i te mahi.
- FDIC, Ngā reiti ā-motu me ngā tāpiringa reitifdic.gov
Te reiti putea ā-motu mō ngā pūkete penapena o 0.37% mai i te 21 o Mahuru 2026, te paerewa whakataurite mō ngā reiti pēke i tēnei whārangi.
- US Treasury, Ngā reiti ā-tau o te kurupae utu a Treasury o ia rāhome.treasury.gov
3-marama te pihi utu a te Treasury o 4.25% i te 29 o Hepetema 2026, te paerewa i muri i te reiti pēke 4% whakaahua i whakamahia i roto i te tatauranga.
- Te Pēke Matua, ngā whakahaerenga mākete tuwherafederalreserve.gov
Te awhe whāinga o ngā pūtea a te Pēke Matua mai i te 3.75% ki te 4.00% mai i te 17 o Hepetema 2026, te reiti kaupapa here kei muri i ngā reiti tāpui me ngā pire T i whakahuahia nei.
- FDIC, Inihua pūteafdic.gov
Standard insurance amount of $250,000 per depositor, per insured bank, per ownership category, and what FDIC coverage does not apply to.
- Circle, te mārama o USDCcircle.com
Ngā whakaaturanga rahui USDC. E tautoko ana i te mōrearea whakaheke o te moni pūmau e whakaahuatia ana i tēnei whārangi, kāore nei i te kapi i te inihua.
I arotakea whakamutunga: Mahuru 2026. Ka whakatuwheratia ngā hononga o waho ki tētahi tihopa hou; kāore a Coinstancy e whai kawenga mō ō rātou ihirangi.
Tonoa te urunga, ka pātai rānei i ngā pātai uaua i te tuatahi.
Whakatuwheratia he pūkete tika. Mēnā e hiahia ana tō rōpū pūtea ki ngā kupu whakamarumaru me ngā whakaritenga KYB i mua i tērā, ka taea e tō mātou rōpū te whakautu mā te whārangi whakapā.