Create 2019-Q1.md

content/credit-reports/2019-Q1.md

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+---
+title: "Quarterly Credit Report: First Quarter 2019"
+sheet: https://docs.google.com/spreadsheets/d/1asnI5mGCVYb6zbcsxDhZaYu2IbXgWkGEBZcJ7VXt9XQ/edit?usp=sharing
+category: policy
+---
+## Summary
+This quarter we moved 146,289 operational credits from cold storage.  We spent 1,695,734 total community credits on line items detailed below. 146,289 operational credits were used for the LBRY employee LBC purchase program. 
+We significantly larger community outlays throughout the rest of 2019 and starting in Q2 2019. Operational spending may increase at any time, but is not expected to increase significantly. Institutional spending is expected to be less than 1,000,000 LBC
+
+## Overview By Fund
+
+### Community Fund
+
+1,695,734 credits were spent from the community fund, in the following areas:
+
+| Category | Amount |
+|---|---|
+| Bounties | 328,380 |
+| User Engagement | 291,000 |
+| Community Engagement | 175,000 |
+| Publishing | 10,000 |
+| Acquisition | 286,990 |
+| Testing | 1,100 |
+| LBRY.fund | 203,264 |
+| Swarm | 400,000 |
+
+As reliability and interest has been increasing, we anticipate continuing to reward new users, community contributions, and other beneficial activity. This is likely to represent 1-2 million LBC.
+
+### Operational Fund
+
+* LBRY sold no LBC on the open market
+* LBRY issued 146,289 LBC to employees
+
+LBRY does not anticipate moving credits to market this quarter. However, should market conditions or our needs change, we reserve the right to move credits to market as needed.
+
+### Institutional Fund
+
+There were no institutional moves or spends this quarter.