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Quarterly Credit Report: First Quarter 2017

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Summary

This quarter we moved 3 million community Credits from cold storage. We spent 1,186,244 total community Credits on line items detailed below. No operational Credits were moved or spent. No institutional Credits were moved or spent. As the LBRY protocol performance and reliability has again increased, we anticipate increased outlays in Q2 2017. This will primarily be driven by the redemption of beta invites. We also may begin the first institutional outlays, but any outlays here will be pilot programs and come with spending restrictions.

Overview By Fund

Community Fund

Bounty 14,500 LBRY Credits Testing 181,243 LBRY Credits Invite Refill 15,955 LBRY Credits Quickstart 506,000 LBRY Credits Publishing 13,250 LBRY Credits Modpay 394,600 LBRY Credits Dev_Eval 5,000 LBRY Credits Other 55,696 LBRY Credits

As reliability has been increasing, we anticipate inviting many, if not, all users on the beta waitlist. This will represent a significant uptick in credit outlays, possibly as much as 1-2 million LBC.

Operational Fund

No activity this quarter.

We anticipate no usage of Credits from this fund this quarter.

Institutional Fund

No activity this quarter.

We may run our first institutional pilot programs this quarter. Any outlays from this fund this quarter will be minimal and are likely to come with restrictions that prevent them from going to market.