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Here we are, with the first report of the PF. As announced in an official post about 3 months ago on the blog of the owner account @davidesimoncini, I decided to introduce the Photochain Fund at the beginning of January, by definition "a set of addresses useful for collecting value in the form of supported tokens or cryptocurrencies, and intended mainly to support the project and the further awarding of 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 is a project based on the collection of 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.

Today we are in April and, as the initial regulation of the PF provides, the first quarter of harvest is over, the one that went from January to the end of March. The collection was small, and you can see it from the screenshot of the BTC, LTC and ETH wallet which also includes the tokens. However, we collected a small amount thanks to the donation made by @melinda010100 and @qwerrie, for a total of 12 HIVE. The other tiny portion comes from an announcement I make now.

Starting from the end of last January, the @davidesimoncini account started donating 20% ​​of the proceeds of each Photochain post to the @photochain account. For a few weeks now, we have decided to reach the share - which will remain unchanged for the moment - of 50%: translating into simple words, half of each reward earned by the author of the Photochain weekly post will be sent to the @photochain account. 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.

In summary, we have collected:

12.001 HIVE and 2.046 HBD

AND NOW

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

60% of 12 HIVE is 7.2 HIVE and 60% of 2.046 HBD is 1.2276 HBD. The sum to be divided among the competitors is, therefore:

7.2 HIVE and 1.2276 HBD

Since this is the first time that this "collection" and the subsequent distribution has been made, all those who participated in the editions completed before March 31, 2021, will receive their share. Those who participated in the editions finished subsequently, will re-enter the distribution of the collected funds in the next quarter.

The magic number that establishes the total number of participants and beneficiaries of the PF share for this first distribution is: 66

Each beneficiary will receive 0.11 HIVE and 0.018 HBD. I decided to round up the reward due to the small amount. We hope to improve in the near future. If there will not be a boom in attendees, things will probably change from the next distribution. How it has been so far inside Photochain .... we'll see!

Distribution .... How do I get the prize?

For this first distribution, I have decided that I will automatically send the prize to everyone. However, since the rules say a different thing, I invite you to get into the habit of EXPRESSLY claiming your prize starting today. To do this, you simply have to go to the comments of this post and leave one that says: "I want to receive the award." From the next distribution, this step will become mandatory, as written in The Official Post. Those who do not claim their share may do so in the future but will have to wait for the future availability of funds to receive it.

Some Important Additions

I have 2 notes to add and other important communications.
1. First, the division of the 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 @photochain. 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. I will write a small separate post to show you how to connect to this network.

IMPORTANT:

The addition of the second layer MATIC and its use is in the experimental phase, so I have no 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 of 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 fee necessary for the passage 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.

IMPORTANT/3:

The amount of the share of this first quarter will be distributed in the next few days. At the moment I don't have algorithms to automate the process, so the sending of funds will be done manually. Please be patient, the distribution will be finished within the next 10 days.

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 to the post explaining how to connect to the second layer MATIC Network.