🟩Quarterly Report (Q1 2024)
Welcome to our quarterly report, where we dissect the intricacies of expenses within BlastUP. In the dynamic realm of blockchain technology and decentralized finance, transparency is paramount. Therefore, we present a comprehensive breakdown of our expenditures across various essential categories, elucidating their significance in driving the project's growth and sustainability.
Audits, KYC, KYB:
These categories encapsulate the costs associated with ensuring compliance and security within our ecosystem. Audits ensure the integrity of our smart contracts and protocols, providing assurance to our users and stakeholders. KYC (Know Your Customer) and KYB (Know Your Business) processes are vital for regulatory compliance, fostering trust and legitimacy in our operations.
Bizdev (Business Development):
Bizdev expenses encompass activities aimed at expanding our network, forging partnerships, and exploring new opportunities. These investments are crucial for driving adoption, enhancing our ecosystem's utility, and unlocking new avenues for growth.
Fee & Commissions:
In the decentralized landscape, fees and commissions sustain the operational framework and incentivize participants. Whether facilitating transactions or providing liquidity, these expenses underpin the functionality of our platform, ensuring seamless user experiences.
Marketing:
Marketing expenditures are pivotal for raising awareness, acquiring users, and fostering community engagement. Through strategic campaigns and initiatives, we amplify our project's visibility, positioning ourselves for broader market penetration and sustained relevance. Note that this category includes also payments for services connected with the category field.
Other:
The 'Other' category encompasses miscellaneous expenses that are integral to our operations but do not fall within defined categories. These may include legal fees, regulatory compliance costs, or unforeseen expenditures essential for maintaining the project's integrity and resilience.
Outstaff (External Product Development Team):
Engaging external product development teams enables us to leverage specialized expertise and accelerate innovation. These expenses reflect our commitment to delivering cutting-edge solutions and staying ahead of the curve in a rapidly evolving landscape.
PR & Traffic:
Public Relations and Traffic-related expenses are instrumental in shaping our brand narrative and driving user acquisition. By fostering positive relationships with media outlets and optimizing traffic channels, we enhance our project's visibility and credibility, ultimately fueling user growth and retention. Note that this category includes also payments for services connected with the category field.
Payroll (Internal Product Development Team):
Investments in our internal product development team underscore our dedication to technical excellence and product innovation. By nurturing talent and fostering a conducive work environment, we empower our team to push boundaries and deliver best-in-class solutions.
Services:
The 'Services' category encompasses a broad spectrum of operational expenses, including cloud infrastructure, third-party tools, and consulting services. These investments bolster our operational efficiency, scalability, and resilience, enabling us to navigate challenges and capitalize on opportunities effectively.
Tests:
Testing is a critical phase in software development, ensuring the reliability, security, and performance of our platform. Testing expenses reflect our commitment to delivering a robust and user-centric product, mitigating risks, and upholding the trust of our stakeholders.
Below, we present a detailed breakdown of our expenses across the aforementioned categories in the form of a comprehensive spreadsheet. This spreadsheet offers a granular insight into how our resources are allocated, enabling stakeholders to discern patterns, identify areas of optimization, and gauge the effectiveness of our expenditure strategies.
Through meticulous categorization and transparent reporting, we aim to foster accountability, facilitate informed decision-making, and engender trust among our stakeholders. We encourage you to scrutinize the data presented, pose questions, and engage in constructive dialogue as we collectively steer our project towards sustained growth and success.
Please refer to the spreadsheet below for a detailed breakdown of expenses:
| Expenses | Jan | Feb | Mar | Q1 Total |
|---|---|---|---|---|
Total | -1 976,00 | -253 628,34 | -577 011,46 | -832 615,80 |
Audits, KYC, KYB | 0,00 | -15 599,00 | -4 100,00 | -19 699,00 |
Bizdev | 0,00 | -24,00 | 0,00 | -24,00 |
Fee & Comissions | 0,00 | -30,99 | -122,71 | -153,70 |
Marketing | -1 976,00 | -8 599,81 | -45 119,00 | -55 694,81 |
Other | 0,00 | 0,00 | -759,00 | -759,00 |
Outstaff (External Product Development Team) | 0,00 | -340,00 | -22 351,00 | -22 691,00 |
PR & Traffic | 0,00 | -144 765,00 | -356 975,00 | -501 740,00 |
Payroll (Internal Product Development Team) | 0,00 | -83 758,00 | -139 598,00 | -223 356,00 |
Services | 0,00 | -326,54 | -6 878,75 | -7 205,29 |
Tests | 0,00 | -185,00 | -1 108,00 | -1 293,00 |
Note: All the spendings defined in USD equialent.
Thank you for your continued support and trust in our journey.
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