The Qtum Foundation was founded in 2016. With a mission of openness, transparency, and incorporating the community. The Qtum Foundation maintains regular disclosure of its financial situation. This announcement covers from Jan. 2019 to Sep. 2019. From now on, Qtum Foundation will disclose its use of funds on a quarterly basis.
Qtum Foundation Expenditures (Q1-Q3, 2019)
During Q1-Q3, 2019, the Qtum Foundation spent 605.756 BTC, an average of 67.31 BTC per month. The specific monthly expenditure amount is as follows (Monthly expenditure amount is adjusted by Bitcoin price fluctuation):
Compared to the same period last year, Qtum Foundation reduced its expenditure by 18.5%. Non-recurrent expenditures decreased by 72%. Recurrent expenditures decreased by 4.4%. Technology development expenditures increased by 27.9%.
In terms of capital use, 84% of the expenditure is for technology development, followed by operating expenses, and market & public relations, compliance costs for 5%, 4%, and 3% respectively.
Detailed monthly expenditures are as follows:
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