Lisk

<p><strong>Every month the Lisk Foundation provides a financial report in which monthly expenditures are transparently broken down.</strong></p><h2 id="header-0">Total Assets Held</h2><p>An overview of all fiat currencies, stablecoins, cryptocurrencies, and managed assets currently in possession of the Lisk Foundation is illustrated below.</p><p>Generally, the Lisk Foundation is continuously liquidating BTC in order to have enough fiat and fiat equivalents to cover expenses for at least 12 months. This is currently the case.</p><p>Additionally, assets are deposited into a managed fund and are continuously invested into forms of green energy production, e.g. power plants, to reach environmental sustainability with the Lisk network.</p><p><img src="https://lisk.com/sites/default/files/styles/article_content_xl/public/pictures/2022-12/financial_update_assets_nov2022.png?itok&#61;vXzHa3Zr" /></p><h2 id="header-1">Lending and Buybacks</h2><h3 id="blockfi">BlockFi</h3><p>The Lisk Foundation was previously using BlockFi to provide interest on 6,500,000 USDC in order to generate additional income. These funds were scheduled to be locked until the 16th December of 2022.</p><p>On November 10, 2022, <a href="https://twitter.com/BlockFi/status/1590875997351866368?s&#61;20&amp;t&#61;knHad4_tVaVeIRmKUcZvGg" rel="noopener noreferrer nofollow">BlockFi announced</a> that they were pausing withdrawals to their wallet and interest accounts. Then, on November 28, 2022, <a href="https://twitter.com/BlockFi/status/1597253469374910466?s&#61;20&amp;t&#61;knHad4_tVaVeIRmKUcZvGg" rel="noopener noreferrer nofollow">BlockFi announced</a> that they were filing for Chapter 11 bankruptcy protection, with the “First Day Hearing” occurring the following day. BlockFi’s &#34;Second Day Hearing&#34; is scheduled for January 9th, 2023. All information concerning BlockFi court dates can be found here: http://njb.uscourts.gov/BlockFi.</p><p>As always, the Lisk Foundation will continue to be fully transparent and continually update the community on the situation as information becomes available.</p><h3 id="other-lending">Other Lending</h3><p>The Lisk Foundation is also lending away directly to third-party companies. This generates additional interest and ranges between 6% and 8% APY.</p><p>Currently, 1,450,000 USDC are still locked in loans with the interest becoming available only after the lock-up period is over. All lock-up periods will end in 2022. Due to the current market situation, we are currently assessing the safety of these funds and will provide a report in the next Financial Update for December.</p><h3 id="buybacks">Buybacks</h3><p>In <a href="https://lisk.com/blog/foundation/financial-update-october-2022" rel="noopener noreferrer nofollow">October</a>, 525,743 USDC was deployed to buy back LSK tokens from the open market. The large increase of our buyback is due to a collaboration with a liquidity enhancing service planned for 2023, which requires a large amount of LSK tokens. Previously, we announced that this buyback will continue for several months, with each monthly amount dynamically adjusted depending on the current market situation. Due to the uncertainty with BlockFi we have for now paused this effort and will re-evaluate it in the new year.</p><p><img src="https://lisk.com/sites/default/files/styles/article_content_xl/public/pictures/2022-12/financial_update_lending_buyback_nov2022.png?itok&#61;6BHV-nnO" /></p><h2 id="header-2">Monthly Expenditures</h2><p>The overview shown below depicts the overall expenditures of the Lisk Foundation for the last month and is broken down into 2 main categories: Lisk Foundation and Lightcurve.</p><p>As a solution to the current market situation we are saving costs to bring down our burn-rate and to increase our run-time. The full execution of the cost savings will take a few months to settle. The current plan is that our current fiat and fiat equivalents will be used throughout 2023. With new cryptocurrency liquidations into fiat or fiat equivalents to be executed towards the end of 2023.</p><p><img src="https://lisk.com/sites/default/files/styles/article_content_xl/public/pictures/2022-12/financial_update_expenditures_nov2022.png?itok&#61;67oCiaPX" /></p><h2 id="header-3">Lisk Foundation</h2><h3 id="bounties-sponsorships">Bounties &amp; Sponsorships</h3><p>This covers all costs associated with the <a href="https://lisk.com/bug-bounty-program" rel="noopener noreferrer nofollow">Lisk Bug Bounty Program</a>, <a href="https://lisk.com/grant-program" rel="noopener noreferrer nofollow">Lisk Grant Program</a>, and sponsorships.</p><h3 id="promotions">Promotions</h3><p>This includes all marketing-related expenditures such as public relations, influencers, merchandise, events, advertisements, Lisk Centers, and giveaways.</p><h3 id="operations">Operations</h3><p>This includes all operational expenses of the Lisk Foundation which consist of the following: salaries, financial and legal, office rental, contractors, e.g. legal advisories, accountants, auditors, and finally taxes.</p><h2 id="header-4">Lightcurve</h2><p>This covers the monthly invoice from <a href="https://lightcurve.io/" rel="noopener noreferrer nofollow">Lightcurve</a> to the Lisk Foundation. This amount is calculated using a daily rate per employee and encompasses all services provided by Lightcurve. The daily rate only applies to employees of the Research, Development, and Marketing departments.</p><h3 id="research">Research</h3><p>This includes all related costs of the <a href="https://lightcurve.io/about-us?positions&#61;Research" rel="noopener noreferrer nofollow">Research team members</a> at Lightcurve who are working on the Lisk Improvement Proposals.</p><h3 id="development">Development</h3><p>This includes all related costs of the <a href="https://lightcurve.io/about-us?positions&#61;Development" rel="noopener noreferrer nofollow">Development team members</a> at Lightcurve who are working on Lisk Core, Lisk SDK, Lisk for Desktop, Lisk for Mobile, and Lisk Service.</p><h3 id="marketing">Marketing</h3><p>This includes all related costs of the <a href="https://lightcurve.io/about-us?positions&#61;Marketing" rel="noopener noreferrer nofollow">Marketing team members</a> at Lightcurve who are working on all facets of Lisk.com, as well as managing public relations, events, business development, promotional activities, design creation, and documentation.</p><h3 id="operations">Operations</h3><p>This includes all operational costs of Lightcurve, such as taxes, office rental, utilities, hardware/software, servers, accounting, and legal, as well as the <a href="https://lightcurve.io/about-us?positions&#61;Operations" rel="noopener noreferrer nofollow">operations and management team members</a>. All associated costs are fully covered with the daily rates from the research, development, and marketing team members.</p><p><em>Disclaimer: All information contained in our monthly Financial Updates is of informational value only. Differences from their actual state may occur due to time variances of the booking of expenses and inflows. Thus, this information cannot serve as an accurate reference point for the Lisk Foundation finances.</em></p>

Lisk Financial Update for November 2022

Table of Contents

Lisk

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