Quarterly Credit Report: Second Quarter 2016
This is LBRY's first quarterly report. We enter with zero credits expended. We anticipate zero institutional expenditures, zero or limited organizational expenditures, and light community expenditures.
Overview By Fund
Currently, we are engaging in the following programs:
- 3-20 LBC for users invited to participate in the beta. This program is expected to continue well throughout this quarter.
- 1-5 LBC for referrals. This program is expected to continue in parallel with above.
- Up to 2,000 LBC for certain publishers to join LBRY. This program is new and experimental, and is subject to revision.
- A bounty program with rewards varying from small rewards to 10,000+ LBC. This program is new and experimental.
- Tipping on our community chat for user contribution and participation. This program is expected to continue.
We have allocated approximately 2,000,000 LBC across these categories, but do not anticipate actually awarding this much.
We anticipate most expenses continuing to be met via existing assets.
Depending on fundraising over the next 3 months, we may entertain private placements via structures that align with the long-term interest in LBRY and minimize market impact.
We anticipate zero expenditures from this fund this quarter.