Why release a transparency report?
Electric Coin Co. (ECC) is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of our mission to empower people with economic freedom. This transparency report details company income, expenses, and use of funds during Q4 2024.
As we ceased to receive development funding in November of 2024, this concludes our reporting obligations as a recipient of the Development Fund under ZIP 1014. Moving forward, ECC may provide reports periodically as required by future grant agreements or other obligations.
Key takeaways:
- Bootstrap received coins at a value below the ECC operating expense level for Q4 2024. During this time, Bootstrap received coins at an average of $293K a month (at the Q4 average ZEC price, $38.31, for each of the three months’ distribution dates), and Bootstrap and ECC incurred average monthly expenses of approximately $375K.
- At the end of Q4 2024, Bootstrap and ECC collectively held approximately $823K in USD and approximately 115K ZEC
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