Please share your questions
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What’s ImpactX foundation?
Hi Richy, I had asked you a question on Telegram.
Let me copy it here also.
From Transparency Report:
“These funds have not yet been touched. In June a US$ 33’780 donation was made to the charity:water’s bitcoin trust (1 BTC) with an interest rate free loan from Nimiq to the ImpactX Foundation.”
Question:
There is already a vesting account designed for charity, that the community has agreed with. Why 1 Btc was subtracted from Nimiq’s core resources and gifted to “water’s bitcoin trust” ?
Was it done because “water’s bitcoin trust” accepts only Btc ? So will you buy back that 1 BTC using those Nim reserve for Charity ?
I know it may sound as a petty underscore, but this question must be asked.
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Richy,
I’m super excited to see that Nimiq is making new partnerships and gaining exposure - without having yet transitioned to Nimiq 2.0 POS. Please keep up the good work and keep on pushing for new partners while you clean up the edge cases of 2.0.
It’s great to see a dedicated Marketing number at ~11%. I think the “Listings” portion of the marketing fees should be separated and tracked separately - some exchanges could charge your entire $412k budget for a listing, telling us nothing about what was used for marketing. The fees for “Integrations” with partners, exchanges, etc. should be itemized as well, especially if they’re separate from the “Listing” one-time fees.
Reason for that is I would love to see the budget items for “Marketing” and “Integrations” have a dedicated amount of your annual operating expenses, and hopefully see both growing with proportional outreach campaigns. I also think your OASIS fee locked NIM should be used towards these two goals upon maturity.
Also, it looks like the accounting of the OASIS fee locked NIM is missing from the report.
Cheers!
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Answer from our legal team:
“Exactly. This is not 1BTC that was gifted. It was a loan given to the charity foundation in USDC at the time from which 1BTC was acquired to make a first donation (to charity:water’s bitcoin trust). The loan is interest rate free and will be repaid from the NIM when the value of NIM has increased or the project calls for it due to financial need for it.”
Answer from our legal team:
“As the partners put Nimiq under NDA those can not be broken down or separately revealed.”