The Interchain Foundation (ICF) is delighted to announce the publication of key financial figures and funding activity for the first half of 2020 and in the future on a quarterly basis. The Foundation maintains a very professional and conservative asset management approach which ensures sustainable capital deployment for the Cosmos project for many more years to come. In order to achieve the Foundation’s mission, safeguarding the Foundation’s assets and providing operational liquidity is essential and it is closely and constantly monitored by the Foundation Council.
Since its inception in 2017, the ICF has been subject to full financial audits and is happy to announce that during all reporting periods unqualified audit reports have been received by an independent auditor. As required by Swiss law, the audit reports are filed with the Swiss Federal Supervisory Authority for Foundations. The ICF is fully compliant with all regulations and requirements.
The below is the first update for the period of 1 January through 30 June 2020. Going forward the reporting cadence will be quarterly. (The next update will be released during the month of October for Q3 activity)
Here are the highlights:
- Total assets as per mid-year 2020 add up to USD 103 million
- Holdings denominated in Cosmos Atom tokens represent 47% of total assets, respectively 71% of Crypto holdings.
- Investments includes besides public securities also crypto investments such as Regen, Agoric, Althea and Iris.
- Number of grant applications received during Q1 and Q2, 2020: 71
- Number of grants approved during Q1 and Q2, 2020: 36
- Grants committed during Q1 and Q2, 2020: USD 14.9 million
- Additional grants are currently being reviewed and will be reported in future quarterly updates