I am aware that Cardano’s initial fund raising process from September 2015 to January 2017 only accepted BTC:
“The sale proceeds were entirely in bitcoin” - Source
A grand total of 108,844.5 BTC were raised during this period
The above amount of BTC was worth 62,236,134 USD according the the ADA Distribution Audit
(linked at the end of this post)
This assumes the valuation 1 BTC = $571.79 (62236134 ÷ 108844.5 = 571.789)
How was the BTC/value distributed to each entity (IOHK/Emergo/CF)?
Were the BTC divided up and sent to each entity using a fixed percentage of the total?
Did the entities receive a fixed fiat amount (requiring BTC to first be sold to fiat)
If each entity received BTC, were they independently managing their own share of the BTC raised? For example would IOHK be able to cash out into fiat with their share without permission from the other entities or were they all in agreement. This of course assumes a distribution of BTC to each entity.
How many of the BTC that were raised have been sold into fiat? How many BTC remain?
What was the average price that each BTC was sold for
The volatility of the crypto market means that there would be a huge difference in how much fiat money the project will have depending on when they sold.
- Assume 10,000 BTC sold on 4 August 2016 = $5,716,300 (1 BTC = $571.63)
- Assume 10,000 BTC sold on 1 November 2017 = $64,400,000 (1 BTC = $6440)
- Assume 10,000 BTC sold on 1 January 2018 = $137,900,000 (1 BTC = $13,790)
If anyone knows the answers to these questions or would be able to help point me to the right direction of where to work this out I would be very grateful as I feel these are important questions which answers will dictate how many resources are available to the project.
The above can be found on the official Cardano site on the following page:
ADA Distribution Audit