Status Financial Update - December 2018

finance

#1

Hey everyone,

As we approach an exciting 2019, we thought we’d share our financial position to give clarity and transparency on how we’re approaching the current crypto bear market.

The latest is that Status has increased its fiat holdings by 50% since October 2018 and currently holds USD 7.5m. At the same time, we have 190k ETH remaining in the multi-sig. Measured in USD, the total assets of Status equate to USD 27.5m, respectively measured in crypto, they equate to 269k ETH.

The recent events reduced the total monthly cost of the Status project from about USD 1.3m to USD 750k.

These are tough times that are hard to sugar coat. We are doing our best to ensure the long-term success of Status, and will continue to monitor our financial situation on a more frequent basis (bi-weekly) and hedge accordingly. Our top priorities are to ensure the completion of the Status White Paper and to secure the funds for the ongoing development of Nimbus until the Serenity launch.

Please feel free to ping us or Dani if you have any questions.

Nabil & Yessin


Tackling the Current Market Conditions
#2

Great job!

Is there also a longer term asset allocation strategy associated with this? E.g. right now USD is at 27% and the rest in ETH (and SNT). Is the idea to:

  • stay at 25% with some rebalancing bands (say 15% and 35%)
  • to increase/decrease it in relative (or absolute terms)
  • or is this going to be ad hoc?

#3

The long-term asset allocation strategy was derived from the budget plan, to ensure the delivery of the top priorities and neutralise the worst-case scenario. The strategy defines the minimum fiat amount which has to be in place for any given month. Moreover, the fine-tuning and execution of the strategy are discussed on a bi-weekly basis.


#4

Hi Yessin,

I am trying to get in touch with the Status team regarding their current financial situation, more specifically their Ethereum holdings. What is the best way to contact the team?

Getty Hill
Analyst at Grapefruit Trading


#5

Hi Getty

You can reach me best by the Status app. You can download it here. Then start a new chat by entering my username “yessin”.

Best,
Yessin