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Financial Update for May 2023

Every month the Lisk Foundation provides a financial report in which monthly expenditures are transparently broken down.

By Lisk

09 Jun 2023

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Total Assets Held

An overview of all fiat currencies, stablecoins, cryptocurrencies, and managed assets currently in possession of the Lisk Foundation is illustrated below.

The foundation doesn’t hold stable coins as of April 2023. However, in May, the foundation liquidated roughly 300 Bitcoin and acquired little over 3,900 Ether in return.

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Open obligations

In March the Lisk foundation wrote off the rest of the open obligations (BlockFi et al) in excess of USDC 2,025,000. The Lisk foundation has also submitted claims for BlockFi for the full amount.

On another note, the Lisk foundation’s bank assured that there are no liabilities affecting the foundation in regards to other banks such as Silicon Valley Bank or Credit Suisse.

Monthly Expenditures

The overview shown below depicts the overall expenditures of the Lisk Foundation for the last month and is broken down into 2 main categories: Lisk Foundation and Lightcurve.

Financial_Update_Expenditures.png

Lisk Foundation

Bounties & Sponsorships

This covers all costs associated with the Lisk Bug Bounty Program, Lisk Grant Program, and sponsorships.

Promotions

This includes all marketing-related expenditures such as public relations, influencers, merchandise, events, advertisements, Lisk Centers, and giveaways.

Operations

This includes all operational expenses of the Lisk Foundation which consist of the following: salaries, financial and legal, office rental, contractors, e.g. legal advisories, accountants, auditors, and finally taxes.

Lightcurve

This covers the monthly invoice from Lightcurve to the Lisk Foundation. This amount is calculated using a daily rate per employee and encompasses all services provided by Lightcurve. The daily rate only applies to employees of the Research, Development, and Marketing departments. The Operations department and all miscellaneous costs are also being covered through the monthly invoice.

Research

This includes all related costs of the Research team members at Lightcurve who are working on the Lisk Improvement Proposals.

Development

This includes all related costs of the Development team members at Lightcurve who are working on Lisk Core, Lisk SDK, Lisk for Desktop, Lisk for Mobile, and Lisk Service.

Marketing

This includes all related costs of the Marketing team members at Lightcurve who are working on all facets of Lisk.com, as well as managing public relations, events, business development, promotional activities, design creation, and documentation.

Operations

This includes all operational costs of Lightcurve, such as taxes, office rental, utilities, hardware/software, servers, accounting, and legal, as well as the operations and management team members. All associated costs are fully covered with the daily rates from the research, development, and marketing team members.

Disclaimer: All information contained in our monthly Financial Updates is of informational value only. Differences from their actual state may occur due to time variances of the booking of expenses and inflows. Thus, this information cannot serve as an accurate reference point for the Lisk Foundation finances.