This article was first published on Stories by Qtum on Medium
The Qtum Foundation reports its financial expenditures quarterly for transparency and openness with the community. This report covers the first quarter of 2020 and a scheduled update to the circulating supply.
1Q 2020 Expenditures
During the first quarter of 2020 (January, February, March) the Qtum Foundation spent 221.9 BTC, an average of 74.0 BTC per month. The monthly expenditures are shown below (the expenditure amount changes with Bitcoin price fluctuation).
Funds spent are further broken down into six categories. The largest categories are for recurring expenses for Technology Development, Public Relations and Marketing, and Operation Costs. The non-recurring costs are smaller and consist of Compliance Costs, Business Development, and Technical Cooperation. Monthly expenditures were higher in March due to the staff’s yearly bonus and the lower price of BTC.
For the 1st quarter, these category percentages were Technology Development 77.8%, PR and Marketing 3.9%, Operations Costs 3.1%, Compliance Costs 2.0%, Business Development 12.4%, and Technical Cooperation 0.8%. The expenses in BTC for these categories are shown below.
Circulating Supply Update
March 2020 saw the final release of the QTUM tokens that were locked for marketing, promotion, research, and business development. This allocation of funding was scheduled for release at yearly intervals from the launch of the Qtum Project, and this last tranche of QTUM is now released for future hackathons, promotional activities such as Qtum Galaxy, etc. With this final release, the circulating supply equals the original 100,000,000 QTUM plus all block rewards to date, or approximately 102,312,000 QTUM.
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