Summary
This quarter we moved no Credits from cold storage. We spent 9,823,975 total community Credits on line items detailed below. 100,320 operational Credits were used for the LBRY team member LBC purchase program. 140,000 Credits from the institutional fund were used for an ongoing media partnership. We anticipate significantly larger community outlays throughout the rest of 2019. This quarter’s community outlay was significantly impacted by an influx of YouTube channel syncs starting in mid-June. 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
9,823,975 Credits were spent from the community fund, in the following areas:
| Category | Amount |
|---|---|
| Bounties | 205,700 |
| User Engagement | 7,196,200 |
| Community Engagement | 160,150 |
| Publishing | 62,100 |
| Acquisition | 273.300 |
| Testing | 10 |
| LBRY.fund | 330,800 |
| Swarm | 1,595,715 |
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 100,320 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
140,000 Credits were moved as part of the Antimedia partner deal.