Q3 2018
FACTOM COMMUNITY REPORT Q3 01.10.2018
Dear Factom Community,
We’re aligning our reports with the calendar year, as such the community can expect the following schedule:
Q1 Report: JAN – MAR (available early April)
Q2 Report: APR – JUN (available early July)
Q3 Report: JUL – SEP (available early October)
Q4 Report: OCT – DEC (available early January)
Of course, we welcome any specific updates on request and we encourage you to join us on the TFA Discord.
It’s been a few months since TFA was elected into the Authority Set and we feel an update from our end is long overdue. Since being onboarded we’ve made tangible progress in terms of establishing our company, working towards our pledges and contributing to the Factom ecosystem in general.
Although token price is less than ideal, it wasn’t outside the scope of possibilities and was considered in our income projections when we applied to be an ANO.
At current prices, TFA receives roughly $85,000 annualized (gross) server revenue.
The suppressed price means that currently the work we put into the protocol is far exceeding the reward. We have not and will not take salaries until the price has recovered or the market is reflective of the overall value that ANOs are providing. In this respect, we view our efforts as an investment in the protocol and we strongly believe it to be a good investment, in which we have a hand in growing.
In saying that, the current market conditions also means –
1. TFA has not been able to transition every member into full time roles
2. TFA has more reliance on grants to accomplish some of its larger plans
As per our application, we pledged to review our server efficiency quarterly. Although, market conditions are unfavourable, TFA will not change efficiency at this stage. The grant pool is fairly starved at the moment, so we feel maximum deferment is required, which allows the community to decide how resources are best utilized.