CryptoLions Financial Disclosure

in eos •  11 months ago  (edited)

EOS-lion-crystal.png

About this disclosure

CryptoLions remains committed to the financial transparency we promised in our policy positions and code of conduct in April to uphold the trust bond between the Block Producers and the EOS Community as stated in our Policy Positions and Code of Conduct.

With this disclosure we are starting our monthly expense report publications in order to be fully open about our budgeting and show how the resources entrusted to us are used responsibly and effectively. We look forward to keeping the community well informed of our undertakings and on-going projects in support of the EOS ecosystem.

Restatement of our values

  • Sophrosyne - Inspired by Eos being the ancient Greek goddess of the Dawn, sophrosyne is an ancient Greek concept of an ideal of excellence of character and soundness of mind, which when combined in one well-balanced individual leads to other qualities, such as temperance, moderation, prudence, purity, and self-control.

  • Respect - To everyone. Always. This begins with respect for the EOS community and its constitution.

  • Competence - Meeting the technical, organizational, and legal demands of EOS block producers.

  • Integrity - Being honest with others and with ourselves. Doing what we say we'll do.

Income

As of June 30th, 2018 had received a total of 8,263.6782 EOS tokens.

As of July 31st, 2018 we received a total of 26,602.2318 EOS tokens. This is our total income so far.

7,356.1193 EOS tokens have come from block rewards.
19,246.1125 have come from vote rewards.

Expenses

Expense CategoryMarch-May 2018June 2018July 2018
General Administrative$10.00$414.81$825.01
IT & Web$894.45$4,376.45$6,117.16
Legal$1,552.07$0.00$0.00
Media and Outreach$1,688.46$1,210.88$298.94
Projects$529.30$8,634.87$18,262.31
Salaries$68,000.00$21,366.67$21,500.00
Sponsorships$0.00$0.00$17,000.00
Travel$948.21$0.00$3,528.31
Total Expenses$72,674.28$36,003.68$64,003.42

Notes

The big sponsorship in July 2018 was EOSCC conference in Seoul Korea.

The media and outreach budget includes an ongoing translation project whose goal is to popularize EOS in the Russian speaking, Ukrainian speaking, and then Hungarian speaking communities. You can find links to our translated content here.

In addition to the information in the table, 1% of our income, or 266.0223 tokens are earmarked to be retired. This is a small gesture of gratitude to the community. Also, 10% of our income, or 2660.2232 are set aside for what will be a performance bond with a six month term.

march to may.png

June.png

July.png

Projects

We regard the production of blocks and the associated communication and legal work as our primary duty. As an additional service to the EOS community, we build projects which we believe make the EOS ecosystem better, and the EOS token more valuable.

They include

  • The Jungle Testnet which continues to be an important training and testing environment.

  • The EOS Network Monitor.

  • ZEOS a do-it-yourself account registration portal where you can use BTC or ETH to create an EOS account.

  • Truth Bonds / Performance Bonds, which Roman spoke about here.

ProjectsMarch-May 2018June 2018July 2018
Jungle$0.00$0.00$2,000.00
Monitor$0.00$0.00$8,638.35
ZEOS$0.00$8,000.00$1,008.98
Truthbonds$0.00$0.00$5,000.00
R&D$569.26$634.87$1,614.98
Total$569.26$8,634.87$18,262.31

Concluding Statement

There are no costs that are not reflected in the tables above. This is everything. We will continue to disclose our financials and support a culture of transparency and accountability.

We hope sensible reporting standards for block producers emerge over time and will look to adhere to them.

🦁🦁🦁

http://cryptolions.io/
https://zeos.co/
https://github.com/CryptoLions
https://busy.org/@cryptolions
https://busy.org/@cryptolions-ua
https://steemit.com/@cryptolions
https://steemit.com/@cryptolions-ua
https://twitter.com/EOS_CryptoLions
EN: https://www.youtube.com/channel/UCB7F-KO0mmZ1yVBCq0_1gtA
UA: https://www.youtube.com/channel/UCnVu47FZ09XX9EvrqqgS6uQ
General CryptoLions Chat: https://t.me/CryptoLions_io
EOS Network Monitor: http://eosnetworkmonitor.io/
Jungle Testnet Monitor: http://jungle.cryptolions.io/
Testnet Chat: https://t.me/jungletestnet

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Excellent initiative! let's hope more BPs replicate that have the opportunity to serve as a paid BP.

I followed and up votes you. please followback @huanmv

This is an example to follow by ALL BP's
Well done @cryptolions !

Good example not only for the EOS community, but for all crypto-startups in general.
Short and simple information)

Your team is setting a great example. I look forward to others following.