LBRYFoundation/lbry.com
1
0
Fork 0
mirror of https://github.com/LBRYFoundation/lbry.com.git synced 2025-09-03 12:30:09 +00:00
Code Issues Projects Releases Packages Wiki Activity Actions

Create 2020-Q1.md

Browse source
This commit is contained in:
Josh Finer 2020-05-04 14:21:31 -04:00 • committed by GitHub
parent dcc6938dd3
commit f221acbd3c
No known key found for this signature in database
GPG key ID: 4AEE18F83AFDEB23
1 changed files with 45 additions and 0 deletions
Show stats Download patch file Download diff file Expand all files Collapse all files

45
content/credit-reports/2020-Q1.md Normal file
View file

@ -0,0 +1,45 @@
---
title: "Quarterly Credit Report: First Quarter 2020"
sheet: https://docs.google.com/spreadsheets/d/12_4RFTiEjV1RVdhOOPURa724ZSS8RDBxfnn8MiOvEDQ/edit?usp=sharing
category: policy
---
## Summary
This quarter we moved 10MM operational, 20MM community credits, and 3MM institutional credits from master cold storage. We spent 13,242,349 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
16,026,383 credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
| Bounties | 743,036 |
| User Engagement | 9,056,100 |
| Community Engagement | 370,847 |
| Publishing | 70,100 |
| Acquisition | 835,700 |
| Testing | 100 |
| LBRY.fund | |
| Swarm | 664,000 |
| LBRY funds staked | 4,115,000 |
As interest has been increasing, we anticipate continuing to reward new users, Youtube channel owners, community contributions, and other beneficial activities.
Rewards are likely to be adjusted downwards, even if current growth flatlines rather than continues. Swarm funds are from a legacy program and are expected to be zero moving forward, and then removed.
We are setting 10,000,000 million LBC as the expected spend this quarter, but it could easily be substantially lower or higher.
It should be noted that LBRY funds staked are recoverable.
### Operational Fund
* 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.
### Institutional Fund
3MM Institutional were granted to lbry.org, an independently run and organized entity.