ICYMI - ECC Transparency Report for Q2 2019

In case you missed it, last week Electric Coin Co. (ECC) published our latest transparency report. ECC is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of our mission to empower everyone with economic freedom and opportunity. This transparency report details company income, expenses and use of funds during Q2 of 2019.

Key Takeaways:

  • As a result of a budget deficit and some market uncertainty, ECC approached Founders Reward recipients to request dilution. This would allow additional funds to be allocated to ECC, for continued operations and investment in Zcash R&D, engineering, regulatory engagement, adoption and demand generation. The dilution was approved and was implemented in June. Details of ECC activities for the quarter are provided within this report.
  • ECC received approximately $634,000 per month in April and May and $1,110,000 in June, based on the average closing coin price of $78.
  • At the end of Q2, the company held approximately $7.35M in USD and ZEC. Primarily due to the decline in the price of ZEC since the end of June, ECC’s current holdings are approximately $4.4M in USD and ZEC.

Full report here: https://electriccoin.co/blog/ecc-transparency-report-for-q2-2019/

6 Likes

I was a bit confused until I saw the footnote on p. 3:

Note: Previous Electric Coin Co. Transparency Reports were named for the quarter in which they were released, e.g., Electric Coin Company Q3 2019 Transparency Report. The convention was problematic because while it was named for Q3, the report was a review of Q1. Our latest and forthcoming reports will be named for the month they are released and subtitled according to the period of time referenced in the report.

I’d suggest also explicitly defining, with month names and year, any “QN” notation when 1st used, in each report title page and early text. For example, it’d be helpful if the next report’s title page, when it inevitably mentions the real “Q3 2019” period, appends “(July-September 2019)”.

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Thanks for the feedback - I passed it on to the team.