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.
- E rua ngā ira taapiri o te hua i runga i te huarahi tekau mā waru marama, ka hoko mai i te waru rā o te huarahi — he iti iho i te nama e kīia ana i te nuinga o te wā, ā, kāore te rahi o te rauna e whakarerekē.
- 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.
- Kaore i te inihua FDIC. Ka hipokina nga moni e tika ana ma OpenCover mo nga huihuinga kawa kua tohua, tae atu ki te 100% o te uara USD, i runga i nga tikanga kaupapa here, nga rohe me nga whakakorenga.
He aha te utu o te moni noho noa ki a koe i muri i te whakaarahanga.
Kāore te rauna e pau i te rā e kati ai. Ka pau i roto i ngā marama tekau mā waru, ko te tikanga ko te nuinga he rāhui mō te nuinga o taua wā — e noho ana i te reiti kāore tētahi i kōwhiri.
Ka tae te katoa o te rauna ki tētahi pūkete
Ka tae te whakawhiti moni ki te pūkete whakahaere — te pūkete iti rawa te tūpono ki te utu i tētahi mea. I ngā wiki e whai ake nei, kāore he tangata e whai mana ana ki te neke i te wāhanga e kore e whakapaua, nā te mea kei te utu kaimahi te katoa.
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
Ko te mea e whakamahia ana e te pēke i te taunoa ka noho hei kaupapa here pūtea. Ko ngā toenga taumata, ngā matapihi whakatairanga me ngā tikanga hononga kei waenganui i te nama whakatairanga me te reiti kei tō pūkete.
Ko te hua kua whakarerea, ko te huarahi, kua whakahuahuatia anō
Ko te moni hua kāore i riro me te moni kua whakapaua, he rārangi kotahi i roto i te tauira. Ehara te pātai i te mea me whiwhi te rāhui i tētahi mea — engari ko te nui o te toenga ka taea te noho haumaru i ngā rā mahi e rua atu i a koe.
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.
Kei raro nei te tātaitanga katoa mō tētahi āhua kamupene, kia taea ai e koe te tirotiro ki tōu ake tauira. He whakaahua tēnei, ehara i te kupu whakaari — ā, ko te whakautu pono he iti ake i tērā e kīia ana i te nuinga o te wā.
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 marama he rite tonu ki te waru nga ra — he iti ake i te wiki kotahi. Koina te whakautu pono mo tenei ahua, a he iti ake i te nama e kii ana te nuinga o nga papa.
Ka whakakorehia te rahi o te rauna.
Ko te horahanga hei ā-ira, ko te roanga o te huarahi i roto i ngā tau, ko te wāhi kua horahia hei ā-ira. Whakahaerehia te take tekau mā waru marama mā roto i a ia — 26 × 0.02 × 1.5² × 1 — ā, ka whiwhi koe i te 1.17 wiki, ko ngā rā e waru anō ko te putanga roa i runga ake nei. E rua ngā kamupene he ōrite te roanga o te huarahi me te horahanga, ka whiwhi i te taua maha o ngā wiki ahakoa i kohia e rātou te $3M, te $30M rānei. Ko te mea e whakanekehia ana te whakautu, ko te roanga o te huarahi, nā te mea ka uru mai hei tapawhā, me te wāhi o te toenga e hiahia ana koe ki te whakatakoto i ngā rā mahi e rua te tawhiti.
Ngā wiki kua riro, mā te roa o te papa rererangi
| Te papa rererangi i te tīmatanga | 2.00 ngā tohu — taumata kore-maukati i te 6.00% | 2.75 ngā tohu — taumata 12-marama i te 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) |
He whakaaturanga anake. Te wera i te rārangi tōtika, te toenga katoa i whakatakotoria, te huamoni māmā, i mua i te tāke, ki te taumata 4% whakapae. Ko ngā reiti Coinstancy Pro mai i Mahuru 2026, kāore i te whakapumautia.
- E whakaaro ana ia kua whakatakotoria te toenga katoa. Kāore e pērā — whakareatia te hua ki te wāhanga e noho ana i roto i te hua. I te 60% kua whakatakotoria, ko te take tekau mā waru marama, e rua ngā tohu, he rima rā, kaua e waru.
- 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 — 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
Ko te paparanga e whakauru ana i te ohorere — he kohi tōmuri, he utu kaimahi kāore i whakamaheretia, he piriti ki te wāhanga e whai ake nei. Koia hoki te mea e taea ai te whakamahi i te rāhui: ko te parepare e kapi ana i te matapihi 48-haora, kia kore ai te rāhui e taea te toro atu i te tere.
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.
I whakamahia ki te $4,500,000 me te $250,000 whakapau ā-marama mai i te wāhanga o mua. Ko te wehenga he tauira mahi, ehara i te kupu whakaaro — ko te pūreirei inā koa me ahu mai i tō ake marama kino rawa, kaua i tā mātou.
| 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 |
E rua hautoru o te toenga ka noho hei rāhui i konei. Whakahokia tērā ki te tātai — 26 × 0.02 × 1.5² × 0.67 — ā, mō te wā tekau mā waru marama, ka hoatu e 0.8 wiki, kaua ko 1.2. Ka pau ngā wiki i te wehewehenga, engari ko te raupapa mahi tika tonu tērā.
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
- Ko te putanga wawe i tētahi taumata rakau ka whakahoki i te moni matua me te whakakore i te huamoni kua whiwhi — kāore he whiu i runga i te moni matua
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 FDIC insurance. Eligible funds are covered through OpenCover for specific protocol events — code bugs, oracle manipulation or failure, liquidation failure, malicious governance takeover — up to 100% of USD value and subject to policy terms, limits and exclusions. |
| 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? | Ko te tuku moni me te whakarato moni i runga i ngā kawa kua tohua — Curve, Pendle, Balancer, Beefy, Aave me StakeDAO — ehara i te pūtea whakatairanga. Koia anō te take kāore e whakapumautia, ā, he whakaraerae kei roto e kore e pērā i te pūtea penapena pēke. |
| Ko wai e pupuri ana i ngā pūtea? | Ko ngā kawa he kore-tiaki, ā, kāore ō kī. Ko Coinstancy te whakahaere i te tohatoha me te aroturuki; ka taunekeneke koe ki te papamahi. |
| 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.
- Nga taputapu e tika ana, kua whakaingoatia — me nga mea kua whakakorehia rawatia
- 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.
Whakamahia te reiti whaihua mai i tō pūrongo whakamutunga hei turanga mō te horahanga, kaua ko te reiti matua mai i te whārangi whakatairite — tae atu ki tā mātou.
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 3Ngā tuhinga rehitatanga kamupene, ngā mōhiohio mō te mana whaihua me te tautohutanga mō ngā kaihaina. Me noho te pūtea tautoko ki te ingoa o te hinonga kirimana. Ko te nuinga o te wā kua pau i te whakaurunga kei tēnei taahiraa, ehara i a mātou.
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.
Tonoa te urunga, ka pātai rānei i ngā pātai uaua i te tuatahi.
Whakatuwherahia tētahi pūkete tika. Mēnā e hiahia ana tō rōpū pūtea ki ngā tikanga kapinga me ngā whakaritenga KYB i mua i tērā, ko te waea atu te huarahi tere ake.