---
title: "Quarterly Credit Report: Second Quarter 2016"
sheet: https://docs.google.com/spreadsheets/d/1r7puheE4Ut4c08R47uCDZbDdMHAoQa0WDqw470gjMIw/edit#gid=0
category: policy
---

## Summary

This is LBRY's first quarterly report. We enter with zero credits expended. We anticipate zero institutional expenditures, zero or limited organizational expenditures, and light community expenditures.

## Overview By Fund

### Community Fund

Currently, we are engaging in the following programs:

- 3-20 LBC for users invited to participate in the beta. This program is expected to continue well through this quarter.
- 1-5 LBC for referrals. This program is expected to continue in parallel with above.
- Up to 2000LBC for certain publishers to join LBRY. This program is new and experimental and subject to revision.
- A [bounty program](http://lbry.io/bounty) with awards varying from small awards to 10,000+ LBC. This program is new and experimental.
- Tipping on our community chat for user contribution and participation. This program is expected to continue.

We have allocated approximately 2,000,000 LBC across these categories, but do not anticipate actually awarding this much.

### Operational Fund

We anticipate most expenses continuing to be met via existing assets.

Depending on fundraising over the next 3 months, we may entertain private placements via structures that align with the long-term interest in LBRY and minimize market impact.

### Institutional Fund

We anticipate zero expenditures from this fund this quarter.