ICO Funds Report — Q1 2024: Financial Overview & Current Position
Introduction
As we advance our commitment to transparency within the Pantos Project, we are proud to present this inaugural financial report. Published alongside the PAN Token report, this report aims to provide a comprehensive overview of our financial health and strategic directions. It signifies a step forward in our journey, offering the community more insights into the project’s progress and future plans.
ICO Financial Overview
The ICO marked a significant milestone in our journey, securing vital funding across several cryptocurrencies. Here is a breakdown of the assets collected:
- 322 BTC (Bitcoin)
- 181 BCH (Bitcoin Cash)
- 257 DASH
- 2,482 ETH (Ethereum)
- 2,780 LTC (Litecoin)
- 694,876 XRP (Ripple)
These assets, with an initial valuation of approximately 4 million euros, formed the cornerstone of our project’s financial resources.
Bitpanda’s Role and Support
Bitpanda’s foundational support for Pantos is rooted in a shared vision for the future of blockchain technology. Recognizing the critical need for secure and easy-to-use interoperability solutions, Bitpanda initiated the Pantos project, drawing on research from leading European universities. This initiative underscores Bitpanda’s belief in the necessity of a robust, research-backed solution to the challenges of blockchain interoperability.
The strong bond between Pantos and Bitpanda has been instrumental in navigating the early stages of development, allowing our team to concentrate on researching and building a scalable and interoperable blockchain ecosystem without the immediate pressures of financial constraints.
Financial Autonomy and Asset Liquidation
In December 2023, we took a significant step towards financial autonomy by strategically liquidating a portion of our holdings, totaling 1,629,219.64 EUR, from:
- 10 BTC (Bitcoin)
- 181 BCH (Bitcoin Cash)
- 300 ETH (Ethereum)
- 2,780 LTC (Litecoin)
- 694,876 XRP (Ripple)
- 257 DASH
These funds were allocated to reimbursing Bitpanda for the costs it had covered since the project’s inception, marking a pivotal moment in Pantos’ journey towards financial independence in preparation for our upcoming mainnet launch.
To further enhance our flexibility and cover operational costs, we have decided to convert an additional $1 million worth of our BTC and ETH holdings into USDC, which was subsequently exchanged for Euros, resulting in a total of €657,129.41.
Current Financial Position
Leveraging strategic asset management, our portfolio has not only exceeded its initial valuation but is also robustly prepared for the challenges ahead. Below, you can find details of our currently available funds.
Our current financial standing includes:
- 534,156.72 EUR (Euro)
- 1,957.49 ETH (Ethereum)
- 290.615 BTC (Bitcoin)
The current value of our portfolio stands at approximately 26 million euros, demonstrating substantial growth and a strong financial foundation for the future.
Commitment to Transparency
Publishing this financial report, alongside the PAN Token report, underscores our ongoing effort to ensure transparency. Moving forward, these quarterly reports are essential in offering clarity on key topics, helping our community stay informed and confident about the Pantos Project’s direction. Our goal is to maintain open communication, providing the necessary insights to understand our progress and strategic plans.
Upcoming PAN Token & ICO Reports
- July, 2024
- October, 2024
- January, 2025
- April, 2025
Head over to our PAN Token Report to learn more about the token distribution and upcoming team token payouts.
We welcome your feedback on this report and invite suggestions for improvements or additional details you’d like to see in future editions. Your input is invaluable as we strive to enhance our reporting and ensure it meets the community’s needs.
