For comparison purposes, here’s a summary of ZF’s financial standing.
At the end of Q1, ZF’s assets were:
- ZEC: 197k
- USD: $3.7m
- BTC: 69
- ETH: 12
At current market prices, that equates to $12.9m worth of assets. We receive 5,479 ZEC from the Dev Fund each month.
ZF’s expenditure is very “lumpy” (i.e. it’s distributed unevenly throughout the year) because of Zcon, and one-off big ticket items like audits and grants, so it makes more sense to look at our annual expenditure, versus the most recent quarter.
The Foundation spent $2.35m in 2021, $4.1m during 2022, and our original budget for 2023 was $6.9m (an average of $575k per month). At current market prices, that level of expenditure would have seen us run out of money in July 2025.
In March (after Silvergate and SVB were shut down, and it became clear that Crypto Winter wasn’t going to end anytime soon), we revised our 2023 budget downwards by ~20% to $5.5m (an average of $458k per month). Those savings came from cutting back on our plans to hire more people, spend more on grants and research, host more community events, and introduce a scholarship program. I also took a pay cut.
That reduced level of expenditure pushes our runway out to February 2026.