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2021 Grin Original Council (OC) Funding Transparency Report

Last updated: Mar 31st, 2023

Introduction

This document provides a high level overview of the Grin's Original Council (OC) financials for 2021 (Jan 1st-Dec 31st). The purpose is to keep the community up to date on funding activity in transparent and digestible way. The data is derived from what is reported in the financial logs under /grin-pm/financials.

Notes

  1. Data was up to date at the time of writing, but it's still possible that there have been changes and updates in the logs since.
  2. USD conversion rates are derived from the closing price of the asset on the day in question according to finance.yahoo.com unless otherwise stated.
  3. The project has gone through significant restructuring since the last financial report, with much of the original team having left the project. This document covers all of 2021 and is a catch-up report between Q42020 and the resumption of quarterly reporting in Q1 2023.
  4. The grin donation address is no longer online and is not included in this reporting. See the 2020Q4 report for the most recent status of Grin donations.

Status before the period

Disposable funds

At the end of Dec 31 2020, The Grin OC held disposable funds to the equivalent of $2,845,537 as follows:

Currency Amount USD x-rate Dec 31 2021 USD Equivalent Wallet address
BTC 96.872644 $29,374 $2,845,537 bc1qecw954uappnwhle6tmafqskn6vxmpr6lmmuwfwldphfxplcshgnssy9kmx

Additional details

Activity during the period

Received

During Jan 01 - Dec 31 2021, Grin OC received the following assets:

Currency Amount Wallet address(es)
BTC 0.011675 bc1qecw954uappnwhle6tmafqskn6vxmpr6lmmuwfwldphfxplcshgnssy9kmx

Spent

During Jan 01 - Dec 31 2021, Grin spent the following assets on the following activities:

Currency Amount Category
BTC 4.26 Critical Bug Bounty
BTC 2.49434909 Development and Maintenance
BTC 0.007331 Hosting Expenses / Infrastructure
BTC 33 Donated to Grin Community Council
BTC 0.00168701 Transaction Fees

Comments

  • 33 BTC was donated to bootstrap and fund the Grin Community Council on Sept 20th 2021, who then took responsiblity for the accounting of those funds.

Status after the period

Disposable funds

At the end of Dec 31 2021, the status of Grin OC's disposable funds were as follows:

Currency Amount USD x-rate Dec 31 2021 USD Equivalent Wallet address(es)
BTC 57.119721 $46,306 $2,644,985 bc1q2x8gu8n85ylur5j83yflhpg5hf80nhnyem98k2pld46lf4czhmgsxq8wlu

Comments

  • Over the year, the value of BTC increased by ~157%, positively impacting available funds.
  • To cover the lack of core developers, Yeastplume and the OC entered into a temporary agreement for Yeastplume to provide full-time development services from October onwards.