Hey everyone,
We’re publishing the DCL Regenesis Labs – Q3 2025 Transparency Report, covering all treasury activity and spending from inception up to September 30, 2025.
Download and view the full report (PDF)
Why this matters
Regenesis Labs was created so the DAO could not only fund initiatives, but also execute them through a dedicated, non-profit executive operating entity. This report shows:
- How the 18-month operating budget approved by the DAO Council is being used.
- A treasury snapshot of the Regenesis Ops and Treasury Safes (MANA + stables + yields).
- A Budget vs Actuals view: as of the end of Q3, only 8.68% of the committed budget had been spent, with the majority of funds still available for upcoming programs (grants, projects, and operations).
- A breakdown of spending across Personnel, Operational Costs, Legal & Compliance, and Project Allocation, with commentary on each one of these.
All of this is backed by on-chain data from our Safe wallets and reconciled with internal records and Request Finance. Anyone in the community can independently verify the numbers using the wallet addresses listed in the Appendix.
Independent Attestation & Governance Proposal
Attending to community feedback, we proposed to the DAO Council to be audited by an independent community member. After the Governance process the Council pushed, we’re proud to say that this report includes an Independent Attestation Report by @maryana Maryana Kovalchuk (MBA, CPA Candidate). She reviewed our schedules, controls, and treasury management practices, issuing an unqualified opinion on the design and operational effectiveness of Regenesis Labs’ financial and operational controls as of September 30, 2025.
Independent Audit Proposal for Regenesis Labs (2025–2026)
This is a significant milestone in our commitment to transparency and accountability as the DAO’s execution arm.
About the timelines
We want to acknowledge that this first report took longer than we originally expected. Part of that delay came from:
- Building the reporting methodology from scratch.
- Reconciling all historical on-chain activity from inception.
- Running the independent attestation on top of our own internal reconciliation.
While this pushed the publication date back, adding an external review has strengthened our reporting process going forward. The methodology, templates, and control checks we developed for Q3 will make future reports faster, more consistent, and easier to audit.
What’s next
- We’re already working on the Q4 2025 Transparency Report , which we expect to publish the first week of February 2026 .
- In parallel, we’re planning a public transparency webpage in addition to the existing Financial Dashboard where all Regenesis Labs reports, wallets, and dashboards will be available in one place for ongoing community review.
- As always, all underlying treasury data remains fully on-chain, so any community member can perform additional analysis or build their own dashboards on top of it.
Feedback & questions
- If you have questions about specific movements, categories, or methodologies, please ask them in this thread.
- If you want to build additional community dashboards or analyses on top of the data, we’d love to collaborate and support that work.
Thanks to everyone in the community, Regenesis Labs, and the DAO Council, who helped make this first full-cycle report possible. This is a key step in proving that the DAO can operate with real-world standards of financial integrity while staying true to its values.