Foundation Fund Update
It has been an eventful two years since the community got together to begin planning the next stage of fulfilling the vision of a decentralized, privacy focused self-governed currency. It had to be legitimate, it had to be sustainable, and it had to be useful.
Along the way, we have been overwhelmed with donations which helped establish the Particl Foundation on 29th June 2017. Our mission then and true today was to use these funds to support the development and promotion of the Particl ecosystem.
What nobody was prepared for was what happened next. A huge bull market followed by the bear market, however quick and decisive decisions by the foundation to create a sound fund allocation strategy along with responsible management and appropriation of costs allowed us to extend the six-to-nine month cash flow position to one that lasted over two years. All of this whilst supporting twice the number of developers we had originally planned.
As such, the foundation has had no need to use the 996,000 Particl that became available and spendable on 30th Nov 2017. The foundation now intends to begin using these primarily to continue to support ongoing development costs and will continue to evaluate the regulatory minefield and market conditions to asses best strategies to maximize value inline with the mission.
We are grateful for the continued support – thank you!
29 May, 2019