The Factom Foundation is collecting revenue via a software sale to support and further the development of the Factom Software. It is important to realize that the Foundation has a well thought out hedging plan, and during the software sale we will be liquidating portions of the incoming bitcoin into other forms of value.
The foundation’s liabilities (mostly paying developers) will be primarily denominated in USD, and in order to maximize the runway provided to the Factom Foundation core developers, the majority of the Foundation’s endowment will be held in USD, and low risk fixed income assets. As detailed in the Factom Asset Allocation plan released earlier this year.
Factom is in the process of implementing our hedging strategy and that is the reason for BTC moving from the Software Sale Address to the multi signature USD account held by Factom and the technical evaluators of the milestones.
Our Asset Allocation Strategy Plan is described in more detail on our blog here.
More information and procedures can be found on Koinify’s blog here.
Thanks to all the community members who have supported our efforts thus far.