In an effort to provide greater transparency to the community on how proposal funds are being spent, we are providing the following financial report covering Q1 budget proposals and expenses. The core team budget proposals for Q1 included the following: - Core Team “Salary” - Dash.org Reimbursement - Liquidity providers - Transform.PR - Lamassu ATM Integration - Satoshi Roundtable - Public Awareness Most of these budget items are pretty straightforward (e.g., reimbursements for expenses, defined contracts). However, we would like to provide more insight into each of these items. Daniel also provided valuable details on the Public Awareness budget - the only core team budget with significant spending discretion - which he manages. There were also numerous community-sponsored budget proposals that were funded during the quarter. These included reimbursement for expenses for building and displaying the Dash soda vending machine at the The North American Bitcoin Conference, sponsorship of the Daily Decrypt, the WiFi Portal project, and interview sponsorships on JuanSGalt's Disruptek channel on YouTube. While the core team will only be reporting on the projects under its sponsorship, you can see that there were many other great efforts funded by the budget this quarter. Core Team “Salary” The core team is currently allocated 1,176 Dash per month for “salary”. I place “salary” in quotes because at current prices, this amount is little more than a token recognition of the work being done by the core team members, many of whom transitioned to full-time status in the last few months. During the quarter, these funds were used to recognize the contributions of 19 individuals that provided substantial support to core team initiatives. This budget is fully distributed every month. Dash.org Reimbursement This budget proposal was meant to run from December through March to reimburse eduffield (Evan), Minotaur (Daniel), and kot (Robert) for the purchase of the dash.org domain name late last year. The approved budget was for a total of 8,400 Dash spread over 4 months. The January through March payments distributed as expected, but due to an error, all December budgets were not paid. A new budget item this quarter replaces the missed December payment starting in April. Liquidity Providers The Liquidity Providers budget proposal funds the hosting of six wallets on the network – each operated by community members – which constantly mix coins. This provides users with much faster mixing times and a better user experience with our privacy features. The budget called for 140 Dash per month compensation for these community members. The funding address is controlled by yidakee (Tiago) - who administers the program - and distributed from there to the other community members providing the services. The liquidity provider proposal was voted out starting in March, so only January and February payments were made. The team of volunteers have continued to provide liquidity to the network despite the defunding of the proposal. Part of the reason it was defunded was due to the cost, as Dash’s value has appreciated so much in the last 6 months. We have resubmitted the Liquidity Provider funding request at a lower payment amount to regain support for this valuable service. If you have not already done so, please vote out the original Liquidity Providers proposal and cast your vote on the new v2 Liquidity Providers proposal. Transform.PR During Q1, we contracted public relations services through Transform.PR. The original intent was to have a three month contract with Transform.PR extending from January to March. The contract was denominated in USD at $6,000 / month. Funding was primarily to be provided through the Public Awareness budget, but a separate proposal of 1,100 Dash was approved beginning in January to supplement the costs. This was one of our major promotion initiatives in January 2016. The focus was on press release distribution and lobbying with the media to promote organic articles on Dash related topics. Unfortunately, the proposal was voted down before the January results were even reported, so only the first month was funded. Nonetheless, we saw a significant number of articles in a variety of publications during the month of January resulting from this proposal / contract. Dash Increases Its Block Size as Founder Confirms Instantaneous Transactions Dash Plans Integration into Lamassu ATMs with Bitcoin A Conversation with Evan Duffield, Founder of Dash Dash announces blocksize increase Virtual Currency Developer Plans to Survive the 'Death' of Bitcoin Dash Set to Take Cryptocurrency Ecosystem By Storm Dash Founder: Cryptocurrency World Needs More Capacity Than Just Bitcoin Dash To Become The First Alternative To Bitcoin Offered By The Lamassu ATM Project Dash N 'Drink: buy sodas from vending machines with this cryptocurrency DASH Block Size Increase Reaches Consensus in Less Than 24 hours /Cryptocurrency news Dash Block Size Increase to 2 MB Has Been Accepted DASH Block Size Increase Reaches Consensus in Less Than 24 hours Dash doubles block size The North American Bitcoin Conference 2016: Day 1 Leapfrogging Bitcoin, Dash Adopts 2MB Block Sizes Dash’s 2nd Birthday: We Are Complementary To Bitcoin, Not A Competitor Dash Cryptocurrency Secures Trademark Rights, Moves to Increase Block Size to 2 MB Lamassu ATM Integration We have a support contract with Deginner to integrate Dash into the Lamassu ATM network. The contract with Deginner is denominated in Dash, consisting of 12 monthly payments of 610.26 Dash each. Although the final payment will be in December 2016, the contract actually provides 24 months of support through the end of 2017, including the integration of Dash into any future releases of Lamassu’s code. A first version of the software has been released by Deginner and a working demonstration video has been posted. Additional versions are already planned which will make integration on existing machines much easier for ATM operators. Payments for these services are paid directly to Deginner each month. Satoshi Roundtable Daniel and Evan attended the Satoshi Roundtable in January. A budget proposal of two months at 717.70 Dash per month was approved to reimburse Evan’s and Daniel’s cost of attendance. These two payments were completed as of the March payment cycle.