Since its inception in 2017, the Particl Foundation’s purpose has been to support the Particl Network through various ways including financial, legal, and logistical means. The foundation had been a major contributor to the growth of the Particl ecosystem and today, would like to communicate the significant movement to the Q3 2020 reported assets.
During Q3 2019, the Particl Foundation sat down with its partners and contractors to extend the cost efficiency and duration of the project. The goal was to ensure that the foundation would still operate for at least an entire year regardless of market situation while at the same time, maintaining the foundation’s position of never selling any PARTs to the market. In line with this, budget cuts as well as payment plans were created specifically to defer a portion of service expenses for an entire year to be paid in PART.
As of Q3 2020 the foundation has paid all outstanding salaries and payments owed to its contractors and partners; and as a result the PART balance has significantly decreased and the entirety of the Particl supply now being freely circulating within the community. It is important to note that the Particl Foundation still holds assets denominated in other currencies as can be seen on the foundation’s latest quarterly report.
The foundation’s goal has been to create a self-sufficient and self-governed network. Even though Particl Foundation has realized this through its support leading to the release of the Particl Marketplace, it still plans to support the Particl Network in any way it could.
The Particl Foundation thanks you for your continued support and believes very exciting days are ahead for all who are aligned with the Particl Project goals and ideals.
16 October, 2020