Hedera is committed to providing industry leading transparency and reporting to developers and users of the Hedera network. Today we are releasing the updated Hedera Treasury Management Report, which provides a more simplified view of estimated distributions for the next twelve months, including variable commitments based on USD (reforecast every quarter starting in 2023 based on best available fair market value at the time of the reforecast). Historical reporting has been updated based on estimated accruals, and starting in 2023 we will also provide preliminary audit-ready actuals for prior quarters, with a third-party audit expected to be completed in 2023.
We have received internal and external feedback on the previous iteration of the report from September 2021, which is incorporated into the updated report. This includes:
An enhanced layout, in alignment with Hedera Governing Council’s ("Council") operational and governance framework
Four simplified categories: Initial Development Costs and Licensing, Purchase Agreements, Network Governance and Operations, and Ecosystem and Open Source Development, which are based on Council resolutions and delegated authority.
12-month forecast and quarterly reporting for greater accuracy v. multi-year forecasting which is non-standard for public reporting due to the inherent risk of inaccuracy in such forecasts.
Removal of the term ‘pre-minted’ Treasury, as all hbars have been minted. This term has been changed to ‘unallocated supply’.
Hedera is committed to setting the industry standard for transparency, reporting, and business process maturity. We operate in a dynamic environment and fast-changing landscape, and the Council will be reviewing and evolving our reporting methodology over time.
Statements in this report relating to Hedera's future plans, expectations, beliefs, intentions and prospects, including statements regarding its current and future operating expenses and any financial projections, are "forward-looking statements" and are subject to material risks and uncertainties. While they are all made in good faith, no assurance can be made that any or all of the events in such forward-looking statements will occur, and you should not place undue reliance upon them. Hedera makes no representation or warranty, express or implied, with respect to any financial projection or forecast relating to Hedera, the Hedera network, hbars, or with respect to the accuracy of any underlying assumption. Any external party is fully responsible for making its own evaluation of the adequacy, reliability, and accuracy of any projections or forecasts furnished to it. All data contained herein is presented on a good faith basis and is subject to further audits, updates, and corrections if required.