Photochain Fund Quarterly Report || January - March, 2022

Here we are, with the fourth report of the Photochain Fund. As announced in an official post more than a year ago on the owner account @davidesimoncini, at the beginning of January I decided to introduce the Photochain Fund, by definition "a set of addresses useful for collecting value, in the form of supported tokens or cryptocurrencies, and mainly intended to support the project and to further reward the participants in the photochain challenge". As announced in the official post that I invite you to read

READ THE OFFICIAL POST HERE

the Photochain Fund (PF) is a project based on the collection of no-FIAT funds obtained through different methods, and on a partial division of the proceeds among all contest participants, following the rules communicated in the official post mentioned above.

We have reached the month of April and, as the initial regulation of the PF foresees, the fifth quarter of collection has ended, the one that went from January to the end of April. The collection is bigger than the previous ones, thanks to some curation bot votes. But: what does the PF consist of?

Starting from the end of January 2021, the @davidesimoncini account started donating 20% ​​of the proceeds of each post to the photochain account. From March 2021 to this part, I decided to reach the percentage - which will remain unchanged for the moment - of 50%: translating into simple words, each reward earned by the author of the official weekly post of the photochain edition will be sent half to the photochain fund itself. The reward method is and will be set regularly as a liquid 50% in HIVE or HBD and a 50% that will be retained in the form of HIVE POWER by @photochain, attempting in the future to have enough power to start a curation program.

The amount raised for this quarter is 7,83300 HBD, while the balance in HIVE has remained unchanged.

And now

And now it's time for the calculations. As announced in the LAUNCH POST, at the moment 40% of the total will be retained, while 60% will be divided equally among the competitors.

The magic number that establishes the total number of participants and beneficiaries of the PF share for this fifth distribution is 38.

60% of 7,83300 is 4,71200 about. With 38 total beneficiaries, I decided to round up to reach the sum of

0.124 HBD

So, recapitulating, each beneficiary will receive 0.124 HBD.

Distribution... How do I get the share?

For this fifth distribution, I have decided that I will automatically send the prize to everyone.

I correctly allocated the shares in the last hours, I am sorry for the delay.

Some Important Additions

I have two notes to give you.
1. First, the division of funds. To overcome the problem of having to reward even participants who are no longer active in our unofficial community, each quarter only those who participated in photochain in the editions ended in that quarter will be rewarded with liquid funds. Participants in previous editions will still retain a right on the portion locked inside the photochain fund. As written in the official post, if the project ends, the funds will be unlocked through a power down. At the present time, we do not have an additional control system to establish how much goes to whom: if the project will end soon, the funds will be liquidated equally among all participants; if the project were to continue for a long time to come - and raise funds in greater quantities - then we will try to insert a more merit-based method.

2. The second addition concerns the introduction of a donation method through ERC20 tokens IN TEST PHASE. Since making small donations on the Ethereum network is practically impossible due to the very high transaction costs, I decided to create the same wallet using the second layer offered by the MATIC network and the BINANCE SMART CHAIN network. You can find the guide and instructions on how to use and connect to the network through Metamask AT THIS LINK

BE VERY CAREFUL AND AVOID TAKING ACTION IF NOT PROPERLY INFORMED.

IMPORTANT: The addition of the second layer MATIC and BINANCE SMART CHAIN - and its use - is in the experimental phase, so I do not have the possibility to give any guarantee on its use. The possibility of losing the entire sum sent exists and must be taken into consideration. I also invite you to consider that, being the blockchain a relatively new technology, there is always the possibility of being able to lose the funds sent. Unfortunately, since I am not in any way involved in the transfer or validation process by the blockchain, I cannot take any responsibility for the loss of part or the entire sum.

IMPORTANT / 2: Each fund raised is subject to the transaction fees necessary for moving from the home address of the funds to the exchange, the transaction fees for the swap on the exchange, the expenses necessary for the transfer of funds between the exchange and HIVE and, to date non-existent, the expenses of the HIVE blockchain. If the funds are too small and their movement results in the approximate loss of more than 50% of their initial amount, the funds will remain frozen until the following quarter.

I hope I have been clear enough. Many concepts are not simple, but I invite you to ask for explanations or to make clarifications if you have doubts about it.

With this I greet you and I give you an appointment with the next Photochain edition!

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