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Capital C Credits (PHASE 2 on Credits Reports) (#1402)

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* Update 2016-Q2.md

* Update 2016-Q3.md

* Update 2016-Q4.md

* Update 2017-Q1.md

* Update 2017-Q2.md

* Update 2017-Q3.md

* Update 2017-Q4.md

* Update 2018-Q1.md

* Update 2018-Q2.md

* Update 2018-Q3.md

* Update 2018-Q4.md

* Update 2019-Q1.md

* Update 2019-Q2.md

* Update 2019-Q3.md

* Update 2019-Q4.md

* Update 2020-Q1.md

* Update 2020-Q2.md

* Update 2020-Q3.md
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2
content/credit-reports/2016-Q2.md
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@ -6,7 +6,7 @@ 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.
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

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content/credit-reports/2016-Q3.md
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## Summary
This is LBRY's second quarterly report. This quarter we outlaid only 267,778 of the 2,000,000 allocated Community credits. 100,000 operational credits were exchanged with Shapeshift to provide liquidity. No institutional credits were moved or spent.
This is LBRY's second quarterly report. This quarter we outlaid only 267,778 of the 2,000,000 allocated Community Credits. 100,000 operational Credits were exchanged with Shapeshift to provide liquidity. No institutional Credits were moved or spent.
## Overview By Fund
### Community Fund
- 10,600 LBRY credits outlaid to community managers
- 171,251 LBRY credits outlaid to Alpha and Beta testers
- 19,150 LBRY credits outlaid to community members for completing bounties
- 75,777 LBRY credits outlaid in Slack tips*
- 10,600 LBRY Credits outlaid to community managers
- 171,251 LBRY Credits outlaid to Alpha and Beta testers
- 19,150 LBRY Credits outlaid to community members for completing bounties
- 75,777 LBRY Credits outlaid in Slack tips*
*Some tip outlays were for bounties and to reward early people who stepped up to manage the community before we had a formal program. We have ceased using Slack tips for bounties and community management and will be able to better differentiate these moving forward.*
Over the next quarter we anticipate continued substantial use of the Community credits to grow both the user base and the publishing base. We expect these outlays to match or exceed those of this quarter, but not to dramatically exceed these outlays.
Over the next quarter we anticipate continued substantial use of the Community Credits to grow both the user base and the publishing base. We expect these outlays to match or exceed those of this quarter, but not to dramatically exceed these outlays.
### Operational Fund
- 100,000 LBRY credits exchanged to ShapeShift to provide liquidity on their platform.
- 100,000 LBRY Credits exchanged to ShapeShift to provide liquidity on their platform.
ShapeShift required ownership over a pool of LBRY credits to maintain their exchange services. These credits were sold at near-market rates.
ShapeShift required ownership over a pool of LBRY Credits to maintain their exchange services. These Credits were sold at near-market rates.
We do not anticipate any expenditures from this fund through Q2 2017.
### Institutional Fund
We have no current plans to expend any LBRY credits from this fund this quarter, but are examining possibilities. Any institutional fund expenditures at this time would likely come with restrictions that prevent exchange or sale.
We have no current plans to expend any LBRY Credits from this fund this quarter, but are examining possibilities. Any institutional fund expenditures at this time would likely come with restrictions that prevent exchange or sale.

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content/credit-reports/2016-Q4.md
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## Summary
This quarter we did not move any community credits from cold storage. We spent 293,604 already moved community credits on line items detailed below. No operational credits were moved or spent. No institutional credits were moved or spent.
As the LBRY protocol performance and reliability has increased, we anticipate increased outlays in Q1 2017. We will be redeeming many if not all beta invites, as well as launching a new program offering credits to developers. We also may begin the first institutional outlays, but any outlays here will be pilot programs and come with spending restrictions.
This quarter we did not move any community Credits from cold storage. We spent 293,604 already moved community Credits on line items detailed below. No operational Credits were moved or spent. No institutional credits were moved or spent.
As the LBRY protocol performance and reliability has increased, we anticipate increased outlays in Q1 2017. We will be redeeming many if not all beta invites, as well as launching a new program offering Credits to developers. We also may begin the first institutional outlays, but any outlays here will be pilot programs and come with spending restrictions.
## Overview By Fund
### Community Fund
- Community managers received 261,109 LBRY credits this quarter
- Beta invitees received 22,400 LBRY credits this quarter
- Bounty participants received 5,750 LBRY credits this quarter
- 4,345 LBRY credits were used for "other" purposes, mostly given to developers
- Community managers received 261,109 LBRY Credits this quarter
- Beta invitees received 22,400 LBRY Credits this quarter
- Bounty participants received 5,750 LBRY Credits this quarter
- 4,345 LBRY Credits were used for "other" purposes, mostly given to developers
This quarter was a down quarter in credit outlays because we declined to send beta invites to users while the protocol was showing poor reliability.
As reliability has been increasing, we anticipate inviting many if not all users on the beta waitlist. This will represent a significant uptick in credit outlays, possibly as much as 1-2 million LBC. We will also be launching a new program offering credits to developers.
As reliability has been increasing, we anticipate inviting many if not all users on the beta waitlist. This will represent a significant uptick in credit outlays, possibly as much as 1-2 million LBC. We will also be launching a new program offering Credits to developers.
### Operational Fund
- No activity this quarter
We anticipate no usage of credits from this fund this quarter.
We anticipate no usage of Credits from this fund this quarter.
### Institutional Fund

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content/credit-reports/2017-Q1.md
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## Summary
This quarter we moved 3 million community credits from cold storage. We spent 1,186,244 total community credits on line items detailed below. No operational credits were moved or spent. No institutional credits were moved or spent.
This quarter we moved 3 million community Credits from cold storage. We spent 1,186,244 total community Credits on line items detailed below. No operational Credits were moved or spent. No institutional Credits were moved or spent.
As the LBRY protocol performance and reliability has again increased, we anticipate increased outlays in Q2 2017. This will primarily be driven by the redemption of beta invites. We also may begin the first institutional outlays, but any outlays here will be pilot programs and come with spending restrictions.
## Overview By Fund
@ -28,7 +28,7 @@ As reliability has been increasing, we anticipate inviting many, if not, all use
No activity this quarter.
We anticipate no usage of credits from this fund this quarter.
We anticipate no usage of Credits from this fund this quarter.
### Institutional Fund

2
content/credit-reports/2017-Q2.md
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@ -6,7 +6,7 @@ category: policy
## Summary
This quarter we did not move any credits from cold storage. We spent 704,306 total community credits on line items detailed below. No operational credits were moved or spent. No institutional credits were moved or spent.
This quarter we did not move any Credits from cold storage. We spent 704,306 total community Credits on line items detailed below. No operational Credits were moved or spent. No institutional Credits were moved or spent.
As the LBRY protocol performance and reliability has again increased, we anticipate increased outlays in Q3 2017. We will continue to redeem many if not all beta invites, which could total several million LBC. Additionally, LBRY will begin move several hundred thousand LBC to market from operational funds. No institutional outlays are expected, but a pilot program could happen.
## Overview By Fund

2
content/credit-reports/2017-Q3.md
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@ -6,7 +6,7 @@ category: policy
## Summary
This quarter we did not move any credits from cold storage. We spent 867,956 total community credits on line items detailed below. 1,000,000 operational credits were moved to markets. No institutional credits were moved or spent.
This quarter we did not move any Credits from cold storage. We spent 867,956 total community Credits on line items detailed below. 1,000,000 operational Credits were moved to markets. No institutional Credits were moved or spent.
As the LBRY protocol performance and reliability has again increased, we anticipate similar or increased outlays in Q4 2017. We will continue to incentivize new users and other beneficial behavior, which could total several million LBC. Additionally, LBRY may move 1,000,000 LBC to market from operational funds. No institutional outlays are expected, but a pilot program could happen.

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content/credit-reports/2017-Q4.md
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@ -6,7 +6,7 @@ category: policy
## Summary
This quarter we moved 5,000,000 credits from cold storage. We spent 645,021 total community credits on line items detailed below. 5,000,000 operational credits were moved to markets to improve capitalization. 639,869 credits were sold to a crypto education club. No institutional credits were moved or spent.
This quarter we moved 5,000,000 Credits from cold storage. We spent 645,021 total community Credits on line items detailed below. 5,000,000 operational Credits were moved to markets to improve capitalization. 639,869 Credits were sold to a crypto education club. No institutional Credits were moved or spent.
Q4 2017 operational token use was significantly above expectations set in the previous quarterly report, but was deemed a strong time to improve the capitalization of the company. LBRY will not hesitate to deviate from previous report predictions should the circumstances warrant it.
@ -34,9 +34,9 @@ LBRY is also exploring a more quantified and specific reward program for new You
LBRY sold 5,000,000 LBC on the open market.
LBRY sold 639,869 credits to a crypto education club.
LBRY sold 639,869 Credits to a crypto education club.
LBRY will continue to move credits to market to improve financial positioning and productive capacity. It is likely that we will move 2-5,000,000 credits this quarter.
LBRY will continue to move Credits to market to improve financial positioning and productive capacity. It is likely that we will move 2-5,000,000 Credits this quarter.
### Institutional Fund

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content/credit-reports/2018-Q1.md
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---
## Summary
This quarter we moved ~~no~~ 5,000,000 credits from cold storage. We spent 393,585 total community credits on line items detailed below. ~~No operational credits were moved to markets.~~ 5,000,000 operational credits were moved to markets to improve capitalization. 136,008 credits were sold to a crypto education club. No institutional credits were moved or spent. We anticipate comparable or larger total outlays in Q2 2018. Operational spending may increase, but not significantly, and community spending is likely to be higher. We will continue to incentivize new users and other beneficial behavior, which is likely to involve 500,000 to 3,000,000+ LBC. Additionally, LBRY has started a program for YouTubers that will scale up credit outlays. Finally, as it has now become de rigueur to state, no institutional outlays are expected, but a pilot program could happen.
This quarter we moved ~~no~~ 5,000,000 Credits from cold storage. We spent 393,585 total community Credits on line items detailed below. ~~No operational Credits were moved to markets.~~ 5,000,000 operational Credits were moved to markets to improve capitalization. 136,008 Credits were sold to a crypto education club. No institutional Credits were moved or spent. We anticipate comparable or larger total outlays in Q2 2018. Operational spending may increase, but not significantly, and community spending is likely to be higher. We will continue to incentivize new users and other beneficial behavior, which is likely to involve 500,000 to 3,000,000+ LBC. Additionally, LBRY has started a program for YouTubers that will scale up Credit outlays. Finally, as it has now become de rigueur to state, no institutional outlays are expected, but a pilot program could happen.
## Overview By Fund
### Community Fund
393,585 credits were spent from the community fund, in the following areas:
393,585 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -26,11 +26,11 @@ This quarter we moved ~~no~~ 5,000,000 credits from cold storage. We spent 393,5
### Operational Fund
* 135,000 credits were used for an employee equity swap
* 135,000 Credits were used for an employee equity swap
* LBRY sold ~~no~~ 5,000,000 LBC on the open market
* LBRY sold 136,008 to a crypto education club.
LBRY does not anticipate moving credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move credits to market as needed.
LBRY does not anticipate moving Credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move Credits to market as needed.
### Institutional Fund

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content/credit-reports/2018-Q2.md
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@ -5,13 +5,13 @@ category: policy
---
## Summary
This quarter we moved no credits from cold storage. We spent 738,027 total community credits on line items detailed below. No operational credits were moved to markets. We sold 327,352 credits to a crypto education club. No institutional credits were moved or spent. We anticipate comparable or larger total outlays in Q3 2018. Operational spending may increase, but not significantly, and community spending is likely to be higher. We will continue to incentivize new users and other beneficial behavior, which is likely to involve 300,000 to 1,500,000+ LBC. LBRY is also likely to form it's first institutional partnership, with spending anticipated to be around 500,000 LBC.
This quarter we moved no Credits from cold storage. We spent 738,027 total community Credits on line items detailed below. No operational Credits were moved to markets. We sold 327,352 Credits to a crypto education club. No institutional Credits were moved or spent. We anticipate comparable or larger total outlays in Q3 2018. Operational spending may increase, but not significantly, and community spending is likely to be higher. We will continue to incentivize new users and other beneficial behavior, which is likely to involve 300,000 to 1,500,000+ LBC. LBRY is also likely to form it's first institutional partnership, with spending anticipated to be around 500,000 LBC.
## Overview By Fund
### Community Fund
738,027 credits were spent from the community fund, in the following areas:
738,027 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -27,9 +27,9 @@ This quarter we moved no credits from cold storage. We spent 738,027 total comm
### Operational Fund
* LBRY sold no LBC on the open market
* LBRY sold 327,352 credits to a crypto education club.
* LBRY sold 327,352 Credits to a crypto education club.
LBRY does not anticipate moving credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move credits to market as needed.
LBRY does not anticipate moving Credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move Credits to market as needed.
### Institutional Fund

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content/credit-reports/2018-Q3.md
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@ -5,14 +5,14 @@ category: policy
---
## Summary
This quarter we moved no credits from cold storage. We spent 958,201 total community credits on line items detailed below. Under 50,000 operational credits were used for the LBRY employee LBC purchase program. 100,000 institutional credits were spent from the institutional fund as part of a new partnership with a media organization.
This quarter we moved no Credits from cold storage. We spent 958,201 total community Credits on line items detailed below. Under 50,000 operational Credits were used for the LBRY employee LBC purchase program. 100,000 institutional Credits were spent from the institutional fund as part of a new partnership with a media organization.
We anticipate comparable or larger total outlays in Q4 2018. Operational spending may increase, but not significantly, and community spending is likely to be higher. We will continue to incentivize new users and other beneficial behavior, which is likely to involve 300,000 to 1,500,000+ LBC. It is also possible that LBRY will continue to explore usage of it's institutional fund.
## Overview By Fund
### Community Fund
958,201 credits were spent from the community fund, in the following areas:
958,201 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -33,7 +33,7 @@ LBRY also launched a more quantified and specific reward program for new YouTube
* LBRY sold no LBC on the open market
* LBRY issued 38,000 LBC to employees
LBRY does not anticipate moving credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move credits to market as needed.
LBRY does not anticipate moving Credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move Credits to market as needed.
### Institutional Fund

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content/credit-reports/2018-Q4.md
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@ -4,14 +4,14 @@ sheet: https://docs.google.com/spreadsheets/d/1PSDn5igtZ51ml2Bd4lNlq9fSYgDbb-z1j
category: policy
---
## Summary
This quarter we moved 118,635 operational and 240,000 institutional credits from cold storage. We spent 1,084,796 total community credits on line items detailed below. 118,635 operational credits were used for the LBRY employee LBC purchase program. 100,000 institutional credits were spent from the institutional fund as a second payment of a new media partnership.
This quarter we moved 118,635 operational and 240,000 institutional Credits from cold storage. We spent 1,084,796 total community Credits on line items detailed below. 118,635 operational Credits were used for the LBRY employee LBC purchase program. 100,000 institutional Credits were spent from the institutional fund as a second payment of a new media partnership.
We anticipate comparable or larger total outlays in Q1 2019. Operational spending may increase, but not significantly. Community spending is likely to be comparable or higher. We will continue to incentivize new users and other beneficial behavior, which is likely to involve 1,000,000+ LBC from our community fund. Institutional spending is expected to be less than 1,000,000 LBC.
## Overview By Fund
### Community Fund
1,084,796 credits were spent from the community fund, in the following areas:
1,084,796 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -30,7 +30,7 @@ As reliability and interest has been increasing, we anticipate continuing to rew
* LBRY sold no LBC on the open market
* LBRY issued 118,635 LBC to employees
LBRY does not anticipate moving credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move credits to market as needed.
LBRY does not anticipate moving Credits to market this quarter due to both market conditions and our favorable cash position. However, should market conditions or our needs change, we reserve the right to move Credits to market as needed.
### Institutional Fund

6
content/credit-reports/2019-Q1.md
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@ -4,14 +4,14 @@ sheet: https://docs.google.com/spreadsheets/d/1asnI5mGCVYb6zbcsxDhZaYu2IbXgWkGEB
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.
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:
1,695,734 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -31,7 +31,7 @@ As reliability and interest has been increasing, we anticipate continuing to rew
* 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.
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

8
content/credit-reports/2019-Q2.md
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@ -4,14 +4,14 @@ sheet: https://docs.google.com/spreadsheets/d/1CYQSj06imiDkPFGcVX0EpAoo42Y0oh4u2
category: policy
---
## Summary
This quarter we moved no credits from cold storage. We spent 9,823,975 total community credits on line items detailed below. 100,320 operational credits were used for the LBRY team member LBC purchase program. 140,000 credits from the institutional fund were used for an ongoing media partnership.
This quarter we moved no Credits from cold storage. We spent 9,823,975 total community Credits on line items detailed below. 100,320 operational Credits were used for the LBRY team member LBC purchase program. 140,000 Credits from the institutional fund were used for an ongoing media partnership.
We anticipate significantly larger community outlays throughout the rest of 2019. This quarter’s community outlay was significantly impacted by an influx of YouTube channel syncs starting in mid-June. 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
9,823,975 credits were spent from the community fund, in the following areas:
9,823,975 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -30,8 +30,8 @@ As interest has been increasing, we anticipate continuing to reward new users, y
* LBRY sold no LBC on the open market
* LBRY issued 100,320 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.
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
140,000 credits were moved as part of the Antimedia partner deal.
140,000 Credits were moved as part of the Antimedia partner deal.

8
content/credit-reports/2019-Q3.md
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@ -4,14 +4,14 @@ sheet: https://docs.google.com/spreadsheets/d/1MNUTEUdQNKKxumjvcpW56DcDhVqvdzfCZ
category: policy
---
## Summary
This quarter we moved no credits from cold storage. We spent 7,959,189 total community credits on line items detailed below. 304,425 operational credits were used for the LBRY team member LBC purchase program. No institutional credits were moved.
This quarter we moved no Credits from cold storage. We spent 7,959,189 total community Credits on line items detailed below. 304,425 operational Credits were used for the LBRY team member LBC purchase program. No institutional Credits were moved.
We anticipate significantly larger community outlays throughout the rest of 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
7,959,189 credits were spent from the community fund, in the following areas:
7,959,189 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -30,8 +30,8 @@ As interest has been increasing, we anticipate continuing to reward new users, y
* LBRY sold no LBC on the open market
* LBRY issued 304,425 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.
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
No credits were moved or used.
No Credits were moved or used.

8
content/credit-reports/2019-Q4.md
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@ -4,14 +4,14 @@ sheet: https://docs.google.com/spreadsheets/d/1H7uYR5XLNlf4Y-elrIS8mHdv4QnVQ-7Bb
category: policy
---
## Summary
This quarter we moved no credits from cold storage. We spent 9,397,854 total community credits on line items detailed below. 269,328 operational credits were used for the LBRY team member LBC purchase program. No institutional credits were moved.
This quarter we moved no Credits from cold storage. We spent 9,397,854 total community Credits on line items detailed below. 269,328 operational Credits were used for the LBRY team member LBC purchase program. No institutional Credits were moved.
We anticipate significantly larger community outlays throughout 2020. 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
9,397,854 credits were spent from the community fund, in the following areas:
9,397,854 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -32,8 +32,8 @@ As interest has been increasing, we anticipate continuing to reward new users, y
* LBRY sold no LBC on the open market
* LBRY issued 269,328 LBC to employees
LBRY may move credits to market if conditions allow.
LBRY may move Credits to market if conditions allow.
### Institutional Fund
No credits were moved or used.
No Credits were moved or used.

6
content/credit-reports/2020-Q1.md
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@ -4,13 +4,13 @@ sheet: https://docs.google.com/spreadsheets/d/12_4RFTiEjV1RVdhOOPURa724ZSS8RDBxf
category: policy
---
## Summary
This quarter we moved 10MM operational, 23MM community credits, and 3MM institutional credits from master cold storage. We spent 16,026,383 total community credits on line items detailed below. 126,352 operational credits were used for the LBRY team member LBC purchase program. 3MM institutional credits were granted to lbry.org. We anticipate similar community outlays throughout 2020. Operational spending may increase at any time, but is not expected to increase significantly. Institutional spending could be substantial at any time, but would be expected to be coupled with sensible and sensitive distribution rules.
This quarter we moved 10MM operational, 23MM community Credits, and 3MM institutional Credits from master cold storage. We spent 16,026,383 total community Credits on line items detailed below. 126,352 operational Credits were used for the LBRY team member LBC purchase program. 3MM institutional Credits were granted to lbry.org. We anticipate similar community outlays throughout 2020. Operational spending may increase at any time, but is not expected to increase significantly. Institutional spending could be substantial at any time, but would be expected to be coupled with sensible and sensitive distribution rules.
## Overview By Fund
### Community Fund
23,026,383 credits were spent from the community fund, in the following areas:
23,026,383 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -37,7 +37,7 @@ It should be noted that LBRY funds staked are recoverable.
* LBRY sold 2,971,644 LBC on the open market
* LBRY issued 126,352 LBC to employees
LBRY may move credits to market if conditions allow. LBRY is likely to announce new ways to acquire LBC in Q2 2020.
LBRY may move Credits to market if conditions allow. LBRY is likely to announce new ways to acquire LBC in Q2 2020.
### Institutional Fund

8
content/credit-reports/2020-Q2.md
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@ -4,7 +4,7 @@ sheet: https://docs.google.com/spreadsheets/d/1Ckcba-AsoC1GuG6xGYR7LbpOiMAqLjdjh
category: policy
---
## Summary
This quarter we moved 5MM operational, 30MM community credits, and 50MM institutional credits from master cold storage. We spent 25,445,103 total community credits on line items detailed below. 7,822,697 operational credits were used for the LBRY team member LBC purchase program, contract obligations, and secondary market sales. 40MM institutional credits were loaned to Altonomy for market liquidity.
This quarter we moved 5MM operational, 30MM community Credits, and 50MM institutional Credits from master cold storage. We spent 25,445,103 total community Credits on line items detailed below. 7,822,697 operational Credits were used for the LBRY team member LBC purchase program, contract obligations, and secondary market sales. 40MM institutional Credits were loaned to Altonomy for market liquidity.
Community outlays this quarter were unprecedented due to tremendous growth in new users and views, especially in May (nearly 9M). Rewards were decreased accordingly in June, and are expected to be lowered to 2-3M per month.
Operational spending may increase or decrease at any time, but is not expected to increase significantly in Q3. Institutional spending could be substantial at any time, but would be expected to be coupled with sensible and sensitive distribution rules
@ -14,7 +14,7 @@ Operational spending may increase or decrease at any time, but is not expected t
### Community Fund
25,445,103 credits were spent from the community fund, in the following areas:
25,445,103 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -40,8 +40,8 @@ We still anticipate spending over 10,000,000 LBC this quarter, with a wide range
* LBRY issued 359,341 LBC to employees
* LBRY sold 435,000 LBC via Moonpay.io
LBRY may move credits to market if conditions allow.
LBRY may move Credits to market if conditions allow.
### Institutional Fund
40MM Institutional credits were loaned to Altonomy, an independent market-making firm, to provide liquidity. More at [lbry://@lbry#3f/market-making](lbry://@lbry#3f/market-making).
40MM Institutional Credits were loaned to Altonomy, an independent market-making firm, to provide liquidity. More at [lbry://@lbry#3f/market-making](lbry://@lbry#3f/market-making).

8
content/credit-reports/2020-Q3.md
View file

@ -4,7 +4,7 @@ sheet: https://docs.google.com/spreadsheets/d/1t3zVnBgXNy1fQLdEVw7jr7x5izVxZ3tlQ
category: policy
---
## Summary
This quarter we moved 10MM operational, 20MM community credits, and no institutional credits from master cold storage. We spent 13,455,301 total community credits on line items detailed below. 10,217,739 operational credits were used for the LBRY team member LBC purchase program, contract obligations, and secondary market sales.
This quarter we moved 10MM operational, 20MM community Credits, and no institutional Credits from master cold storage. We spent 13,455,301 total community Credits on line items detailed below. 10,217,739 operational Credits were used for the LBRY team member LBC purchase program, contract obligations, and secondary market sales.
Operational spending may increase or decrease at any time, but is not expected to increase significantly in Q4. Institutional spending could be substantial at any time, but would be expected to be coupled with sensible and sensitive distribution rules
@ -12,7 +12,7 @@ Operational spending may increase or decrease at any time, but is not expected t
### Community Fund
13,455,301 credits were spent from the community fund, in the following areas:
13,455,301 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
@ -35,8 +35,8 @@ We still anticipate spending around 12,000,000 LBC this quarter, with a wide ran
* LBRY sold 1,350,000 LBC via Moonpay.io
* LBRY sold 500,000 LBC to CoinEx for liquidity
LBRY may move credits to market if conditions allow.
LBRY may move Credits to market if conditions allow.
### Institutional Fund
No Institutional credits were moved.
No Institutional Credits were moved.