# Lisk Foundation Continues Transparency Model, Releases Quarterly Financial Report
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-05-08
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Lisk Foundation Releases Quarterly Financial Report
Meta Description: Discover the latest financial updates from the Lisk Foundation, controlling approximately $20million in crypto assets for the revolutionary blockchain
URL: https://financedigest.com/lisk-foundation-continues-transparency-model-releases-quarterly-financial-reporthtml

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_With the strengthening of LSK, the Foundation currently controls approximately $20million USD in cryptocurrency_

Lisk, the decentralized blockchain application platform, today releases their quarterly financial report, continuing their model of complete transparency. As of today, the Lisk Foundation controls approximately $20million USD in cryptocurrency.

Based in Zug, Switzerland, the Lisk Foundation [secures and administers funds](https://www.financedigest.com/adnami-secures-series-a-funding-from-qntm-group.html "Adnami secures series A funding from QNTM Group") for the Lisk project, an open sourced platform that will enable its users to build blockchain applications from the ground up in JavaScript. In the spirit of complete transparency, the Lisk Foundation opened its books to public inspection for the first time in December 2016. Today marks the first quarterly report for the Foundation, detailing its fiat and [cryptocurrency assets](https://www.financedigest.com/understanding-cryptocurrency-wallets-securing-your-digital-assets.html "Understanding Cryptocurrency Wallets: Securing Your Digital Assets") and first quarter expenditures.

“In March 2016, Lisk completed what many people consider to be the first modern Initial Coin Offering (ICO) – the crowdfunding [vehicle of the future](https://www.financedigest.com/plug-in-hybrid-electric-vehicles-phev-market-trends-growth-future-demand-analysis-and-forecast-by-2026.html "Plug-in Hybrid Electric Vehicles (PHEV) Market Trends, Growth, Future Demand, Analysis and Forecast by 2026"). With over 4,000 ICO participants, we raised over 14,000 BTC to fund what we believe is the future of [application development](https://www.financedigest.com/turbo-compounding-systems-market-development-status-competition-analysis-type-and-application-2026.html "Turbo Compounding Systems Market Development Status, Competition Analysis, Type and Application 2026"). By releasing [monthly reports](https://www.financedigest.com/whatsapp-bans-2-4-million-indian-accounts-in-july-monthly-report.html "WhatsApp bans 2.4 million Indian accounts in July – monthly report"), we are opening up our financials to the public, enabling every initial donator to follow our progress — a model of transparency which we believe is important,” said Max Kordek, Lisk Foundation President.

The Lisk Foundation [currently controls](https://www.financedigest.com/automatic-door-control-market-2022-outlook-current-and-future-industry-landscape-analysis-2026.html "Automatic Door Control Market 2022 Outlook, Current and Future Industry Landscape Analysis 2026") various fiat (CHF, EUR, USD) and cryptocurrency (LSK, BTC, Bytes) assets for on-going operations and long-term storage. Interested parties can view the [LSK address](https://explorer.lisk.io/address/5726759782318848681L) and [BTC address](https://blockchain.info/address/3HsSR84zReeBt5fTMESWJ2y18pMo5gz2Sq) to view current totals. In addition, the [report features the assets the Lisk Foundation holds](https://www.financedigest.com/north-american-market-for-veterinary-respiratory-ventilators-to-hold-lions-share-owing-to-presence-of-major-key-players-fact-mr-report.html "North American Market for Veterinary Respiratory Ventilators to Hold Lion’s Share Owing to Presence of Major Key Players: Fact.MR Report") for both bounties and advisors.

“To reward a number of outstanding community members for their incredible contributions or collaborations to the Lisk Ecosystem, the Lisk Foundation [awarded](https://medium.com/r/?url=https%3A%2F%2Fblog.lisk.io%2Fcommunity-engagement-rewarded-c686199026bf) approximately 58,000 LSK as bounty rewards during the first quarter. It is this hard work undertaken by our community members which is supporting the Lisk [project in reaching](https://www.financedigest.com/automotive-hardware-market-is-projected-to-reach-a-market-value-in-excess-of-us-100-bn-by-2029-end.html "Automotive Hardware Market is projected to reach a market value in excess of US$ 100 Bn by 2029 end") our goal: a widely used, next-generation blockchain application platform,” added Kordek.

Lisk recently [announced an update to their full suite of applications](http://www.econotimes.com/Blockchain-app-platform-Lisk-moves-closer-to-first-major-release-with-updates-to-full-suite-of-applications-648928); Lisk Core, Lisk Nano, and Lisk-JS. These updates mark an [important step](https://www.financedigest.com/eu-u-s-step-up-russian-aluminium-nickel-imports-since-ukraine-war.html "EU, U.S. step up Russian aluminium, nickel imports since Ukraine war") towards Lisk’s first major release, Lisk 1.0.0. For the first time, multi-signature functionality has now been implemented in Lisk-JS and is ready to use.

“In our first quarter, along with [expenditure on marketing](https://www.financedigest.com/increasing-household-expenditure-on-pet-care-to-amplify-demand-of-dog-bathing-systems-market-fact-mr-report.html "Increasing Household Expenditure on Pet Care to Amplify Demand of Dog Bathing Systems Market: Fact.MR Report"), software and legal, we invested in a significant rebrand of our ecosystem which, when completed, will simplify the user experience and allow for never before seen accessibility, in the blockchain space,” added Kordek.

“The publication of our financial report, not only reflects the [progress we are making as a platform but also the value](https://www.financedigest.com/nordic-floor-paints-market-is-estimated-to-progress-at-a-cagr-of-2-7-and-reach-a-value-of-104-mn-by-2031.html "Nordic Floor Paints Market is estimated to progress at a CAGR of 2.7% and reach a value of 104 Mn by 2031") we place on transparency. Ultimately, our platform is about openness, democratisation and lowering the barriers to entry for blockchain development. We now have the team, the funding, and the community to develop that even further. We believe 2017 will be a tremendous year, and the future for Lisk could not be more bright.” concluded Kordek.


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