Lisk Foundation Releases Financial Update for November 2019
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 in November
The Lisk Foundation is liquidating its assets in an on-going strategy to provide enough liquidity for the projects expenses. Currently, we are following the rule to have enough fiat to cover 12 months of expenses. In the month of November, we have liquidated the following cryptocurrencies into fiat currency through Bitcoin Suisse:
- 450,00 BTC
We liquidated them into:
This totalled at 3.983.781,50 CHF.
Total Expenditures for the Month of November
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, and creative design. It also includes our new Developer Relations department.
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.