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The first report of Monero
The first report of Monero
Blockchain

The first report of Monero

By Alfredo de Candia - 2 Jul 2020

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The Monero team decided for the first time to publish a report on the funds spent between 2019 and 2020, thus about one year. 

The team explains that this report, being the first, is not perfect. However, considering that the team has changed, it was decided to make a report, at least as a summary of the expenses that they have incurred during this period.

A report of Monero’s funds

Going into detail, the report shows that in 2019 there were only a dozen transactions and 5 of them involved ARM Buildbot for a total of 55 XMR, while 4 transactions involved payments for CDN, seed node, mac server and web hosting fees. In total, we are talking about 631 XMR which, at the current price, are about 35 thousand euros.

The last transaction involved the salary payment of the developer Diego Salazar who received 118 XMR. 

The funds for these payments come from the CCS wallet, which holds 565 XMR in total.

Looking instead at this year’s expenses, Monero‘s team reported only 1 transaction, which again concerns the payment of Salazar’s salary, amounting to $7000 which, at the current price of $64 per XMR, we can easily deduce that he received 109 XMR. No other transactions have been made in these months of 2020.

Donations to Monero’s team

With regard to donations, the team reports that there have been quite a few but mainly less than 1 XMR, although there have been some large transactions. The report does not provide further data on this matter.

Interestingly, Monero’s team decided to convert all the BTC in their possession into XMR on February 14th, 2020, although the bitcoin donations channel remains active. 

A small revenue comes from LocalMonero, which pays about $100 per month to sponsor Revuo Monero, which is a weekly newsletter.

Finally, the report concludes by presenting the balance sheet: as far as XMR is concerned, the team owns 2108 XMR, or over $130,000, while the bitcoin wallet has only 0.187 BTC.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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