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Quarterly Credit Report: Third Quarter 2019

Summary

This quarter we moved no credits from cold storage. We spent 7,959,189 total community credits on line items detailed below. 304,425 operational credits were used for the LBRY team member LBC purchase program. No institutional credits were moved. We anticipate significantly larger community outlays throughout the rest of 2019. Operational spending may increase at any time, but is not expected to increase significantly. Institutional spending is expected to be less than 1,000,000 LBC.

Overview By Fund

Community Fund

7,959,189 credits were spent from the community fund, in the following areas:

Category Amount
Bounties 385,100
User Engagement 4,662,600
Community Engagement 432,000
Publishing 52,198
Acquisition 378,286
Testing 105
LBRY.fund 332,900
Swarm 1,725,000

As interest has been increasing, we anticipate continuing to reward new users, youtube channel owners, community contributions, and other beneficial activity. We are setting 7.5 million LBC as the expected spend this quarter, but it could easily be substantially lower or higher.

Operational Fund

  • LBRY sold no LBC on the open market
  • LBRY issued 304,425 LBC to employees

LBRY does not anticipate moving credits to market this quarter. However, should market conditions or our needs change, we reserve the right to move credits to market as needed.

Institutional Fund

No credits were moved or used.