2019Q3 Funding Transparency Report
Last updated: Dec 06 2019
This document provides a high level overview of Grin's financials for Q3 of 2019 (Jul 01 - Sep 30). The purpose is to keep the community up to date on funding activity in transparent and digestible way. The data is derived from what's reported in the financial logs under /grin-pm/financials.
- Data was up to date at the time of writing, but it's still possible that there have been changes and updates in the logs since.
- USD conversion rates are derived from the closing price of the asset on the day in question according to Coinmarketcap.com unless otherwise stated.
Status before the period
At the end of Jun 30 2019, Grin held disposable funds to the equivalent of $828,991.74 in the following assets:
|Currency||Amount||USD x-rate Jun 30 2019||USD Equivalent||Wallet address(es)|
- See the 2019Q2 report.
Received in the period
During Jul 01 - Sep 30 2019, Grin received the following assets:
Spent in the period
During Jul 01 - Sep 30 2019, Grin spent the following assets:
- A new GRIN donation address,
https://council-donations.yeastplume.orgwas set up in the period, managed by yeastplume, but with the seed backed up for redundancy. All according to relevant governance meeting decision. So far, no ETH donation or ZEC donation addresses have been set up.
- Majority of GRIN received in the period (3,125) stemmed from a donation by SparkPool.
- Majority of BTC received in the period (1.11) stemmed from monthly donations by Poloniex.
- All spend in the period, both GRIN & BTC, was done as donation to Yeastplume for their work on the project.
Status after the period
At the end of Sep 30 2019, Grin held disposable funds to the equivalent of $620,521.18 in the following assets:
|Currency||Amount||USD x-rate Sep 30 2019||USD Equivalent||Wallet address(es)|
Having had no news from Ignotus during the quarter, we no longer expect these funds to be recoverable, and instead consider them lost permanently. There possibility of course remains that Ignotus returns to the project, which could lead to these funds being recovered. In that case it will be considered new income at the time.
- The biggest reason for the drop in disposable funds was due to the negative movements in the USD/BTC exchange rate during the period.
- Nevertheless, in the period, Grin spent roughly the equivalent of twice the amount of funds that were received by donations.
- As per above, the inaccessible funds are now considered lost. Measures have been taken to reduce the risk of this happening again to the project.
- It was generally considered a quarter of low activity, both in terms of income and spending.