Accounting summary

I had promised summary accounting figures, so they are presented below.

Presented are the total funds raised by me during the entire history of the project, total funds remaining in my custody and the amount received in the last month (August 23rd through September 22). All figures are as of September 22nd, or basically the time of public release. I will ask Zack, who pays expenses, to provide summary expense figures for this one month period below my post. Monthly figures will be presented on an ongoing basis for each calendar month going forward. Note that these figures will only include funds received in exchange for NuShares and the funds I receive from custodial grants. They will not include figures handled by other custodians. As a decentralized venture, there will be no centralized accounting. Each custodian will provide separate accounting.

Total quantity of assets received:

  • 344.4 BTC
  • 76,720 PPC
  • 200,000 NBT

Total quantity of assets remaining

  • 85.83 BTC
  • 16,280 PPC
  • 191,600 NBT

Funds received in exchange for NSR or by custodial grant from August 23rd to September 22nd:

  • 72.02 BTC
  • 2900 PPC
  • 200,000 NBT (custodial grant)

Total undistributed NSR available for sale or compensation for services provided:

  • 605,800,000

I have not yet taken the time to calculate the exact value of all funds received in exchange for NSR as measured in NBT, as this requires each transaction be converted to NBT using the exchange rate relevant at the time. However, the figure is between 600,000 and 700,000 NBT. This calculation is relevant because of my promise to receive no more than 1.5 million NBT for the first 700 million NSR distributed and no more than 5 million NBT for the last 300 million NSR. When contributors receive NSR as compensation for their work instead of other monies, the value of that labor will be included in this total. In other words, if someone receives 500,000 NSR right now for their work, that is accounted as though they had paid 900 NBT (500,000 * 0.0018) for the NSR.

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Expenses Paid (August 23 – September 22)

Contributor wages (BTC): 70.783 BTC

Contributor wages (NSR): 7,153,884 NSR

Contributor wages (NBT): 8,130.61 NBT

Expenses (BTC): 9.853 BTC

Expenses (NSR): 400,000 NSR

Expenses (NBT): 0 NBT

wages are paid according to individual agreements with contributors in exchange for specific services performed.

expenses are for servers, projects, and other miscellaneous operational costs.