Financial Update for October 2020
Every month the Lisk Foundation provides a financial report in which monthly expenditures are transparently broken down into different categories.
Total Assets Held by the Lisk Foundation
In this section, you can check up on all fiat currency and cryptocurrency assets currently in possession of the Foundation. We will also use this part of the update to let you know about any major changes in our portfolio.
Crypto Asset Liquidation
The Lisk Foundation liquidates its assets in order to have enough fiat to cover expenses. In September, 275 BTC were transferred to Bitcoin Suisse AG to be liquidated over a period of two months. The final numbers of this liquidation will be disclosed in the financial update for November.
Total Expenditures for the Month of October
In the expenditures section of the Financial Update, you can see how much the Foundation has spent on various aspects of Lisk’s growth. For your convenience, we have divided this section into four areas:
By far the biggest area of expenditure by the Lisk Foundation, this encompasses everything spent on the research, development, and design of Lisk Core, SDK, Desktop, Mobile, and Explorer.
This key area of growth for Lisk includes not only traditional marketing like public relations, or performance, but extends to everything spent on business development, event management, creative design, and developer relations.
Bounties & Sponsorships
The stronger the Lisk community, the stronger our blockchain is going to be. Under this area of expenditure, we outline all money spent on bug bounties, supporting proof of concept blockchain applications built with the Lisk SDK, or joint efforts with community members like the Lisk Center in Utrecht.
Here, we mention all expenses needed in the day-to-day running of the Lisk Foundation, such as salaries, office costs, or administrative contractors dealing with accounting or legal compliance.
Disclaimer: The information contained in the monthly Financial Updates is primarily of informational value. Minor differences from their actual state may occur due to different moments of booking of certain inflows and expenses, as well as their possible subsequent corrections. Thus, this information cannot serve as an accurate reference point to the exact state of finances of the Lisk Foundation and the costs associated with developing the Lisk Project.
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