Note: This report covers the period between April 1 and June 30. Approximations are made if a transaction spans multiple quarters. Values are USD unless specified otherwise.
Table of Contents
A Message from the Streamr Governance Council
The second quarter of 2025 was defined by a sharpened focus on launching StreamrTV, our flagship broadcasting application built on the decentralized Streamr Network. This marked an important milestone in our shift from infrastructure development to real-world applications that demonstrate the power and potential of decentralized data transport.
With StreamrTV now live, we are entering a new phase of user adoption, iteration, and product-led growth. StreamrTV showcases how real-time data can be broadcast in a decentralized, censorship-resistant way—paving the path for new business models and media streaming innovation. We are building lean and embracing the journey toward product-market fit, using early feedback to refine the product and validate our hypotheses.
In Q2, we also transitioned to building in public, sharing more openly with our community to foster transparency, invite collaboration, and accelerate learning. This new approach aligns closely with our decentralized ethos and helps build trust as we scale.
At the same time, we adapted to the evolving market environment by resizing our team to align with current conditions and our application-first strategy. While these decisions are never easy, they ensure that Streamr remains agile and focused on delivering impact with high efficiency.
Looking ahead, we continue to strengthen our protocol layer and industry relationships, especially within the DePIN, video streaming, and defense sectors. These partnerships are vital as we aim to build a thriving ecosystem around Streamr’s core technology.
Key achievements
- StreamrTV was publicly launched in June with extremely positive feedback from content creators. Shipped features included:
- One-click streaming
- Ultra low-latency, decentralized, one-to-many broadcasting
- Shareable live event links
- Screen sharing
- Live end-to-end encryption
- New marketing identity and assets for StreamrTV, dramatically improving our marketing impressions with a new product, while also generating brand awareness for Streamr.
- Added support for quantum resistant key exchange using ML-KEM (#3060)
- Added support for quantum resistant signatures using ML-DSA (#3074)
- Added support for ECDSA on secp256r1 curve
- Added multichain support for new chains, to be actioned in the second half of 2025.
- Internal beta testing of the Auto staker– a new mechanism that will allow Node Operators to automatically join newly funded Stream Sponsorships.
- Partnered with Phala AI, developing integration experience with AI modelling.
Project financials
While the macro environment remained challenging in Q2, we made some difficult but necessary decisions to reduce salaries across our leadership, development, and marketing teams. The impact of these changes will begin to materialize later in the year, as some adjustments take time to fully take effect. Overall, we expect to reduce expenses by approximately 30%. These savings will either lower the project’s burn rate or be redirected toward increased investment in external marketing efforts.
We continued the strategy to maintain the strategic reserve at approximately constant size to avoid unnecessary token sales while the overall market is under pressure. The reserve is at a healthy size thanks to the previous strategy of slowly building up the reserve by liquidating slightly more tokens than the project spends.
- Approximately 7.5M DATA tokens were minted and distributed to community Node Operators.
- $371,577 USD was raised from the sale of 22,698,382 minted DATA tokens at an average price of $0.01637 cents for project development and growth.
- At the end of Q2 the project strategic reserve was approximately $740,000 USD.
- Approximately 0.4M DATA tokens generated in network protocol fees this quarter.
Governance checkpoint projections
Each unlock from the project’s unminted token reserve is structured to conclude with a governance checkpoint, providing token holders with a regular opportunity to assess progress and align future funding decisions with project milestones. These checkpoints will trigger a vote (Streamr Improvement Proposal) to unlock the next batch of tokens for the core team to develop and market the Streamr Network. Voting typically happens a few months before the current funding package completes.
By tracking our average monthly spend against the DATA token price, we estimate that the next funding package SIP will arrive in January, 2026. Changes in the token price, team spending, and utilization of the project’s strategic reserve could extend or contract this timeline.
Status of approved project funding packages:
- SIP-9 (11/2022): 100% used
- SIP-22 (10/2024): 42.7% used, 57,301,618 DATA remaining
Project expenses
The total burn in Q2 was somewhat higher compared to Q1, mainly due to the development and marketing push related to launching the first version of StreamrTV.
In Q2, some changes were made to reduce the overall project spend and particularly the development expenses, which continue to add up to around half of the total project spending. However, those changes take effect with delay and will only become visible from the next quarter onwards. Summer holidays will also temporarily reduce the burn in Q3.
The USD has also continued to weaken against the CHF and EUR, which has increased the effective project costs, because a significant portion of the expenses are in these stronger currencies.
Admin: HR, accounting, bookkeeping, offices, utilities, financial services.
Business: Bizdev & marketing team salaries, ad and campaign expenses, events.
Leadership: Project leadership salaries.
Legal: Legal and compliance fees. Overheads: Insurance, mandatory pension payments, taxes.
Tech: Developer salaries, product UX/UI designers, software licenses and cloud services.
| Month | Admin | Business | Leadership | Legal | Overheads | Tech |
| 4 / 2025 | 32,847 | 54,013 | 18,031 | 0 | 28,380 | 107,773 |
| 5 / 2025 | 13,082 | 41,629 | 14,213 | 0 | 2,685 | 98,680 |
| 6 / 2025 | 11,306 | 50,275 | 14,733 | 0 | 7,023 | 131,881 |
| Total | 57,236 | 145,918 | 46,977 | 0 | 38,088 | 338,334 |
Total project expenses in Q2/2025: $626,552 USD
Locked/staked supply
The amount of locked tokens has declined from approximately 111M DATA to 93M representing 16% decline in the amount of tokens locked in Stream Sponsorships from the start of the quarter to the end of the quarter. This is consistent with the overall risk-off sentiment experienced in the token markets.
DATA tokens staked on stream Sponsorships. Source: https://dune.com/streamr/dashboard
Node Operators
Approximately 7.5M DATA tokens have been issued (approved in SIP-14) to node operators this quarter through Streamr Sponsorships to help secure the streaming network.
| Issuance event | Issuance start date | Issuance duration (days) | Issuance rate (DATA/day) | Total Issuance (DATA) |
| 17 | 2025-04-21 | 33 | 75,758 | 2,500,000 |
| 18 | 2025-05-23 | 33 | 75,758 | 2,500,000 |
| 19 | 2025-06-26 | 33 | 75,758 | 2,500,000 |
Active node operators were 187 at the start of the quarter, dropping to 181 at the end of the quarter– a 3% drop.
DATA Ecosystem fund
The Data Fund offers grants to projects and individuals to build with Streamr and contribute to its goals. Fund balance: 11,169,010 DATA.
| Grant date | Grant description | Grant amount | Transaction hash |
| 30 / 05 / 2025 | The first upfront payment for a project from an independent developer to explore integrating AI tools and features with StreamrTV. | 57,611 (DATA) | https://etherscan.io/tx/0x8022478bac9e443fb09a9c92b53f3f9dff1a25b1ee8cc1e2bac3abeaeb9b16ec |
This table provides an overview of key events. Amounts have been rounded, and minor details omitted for reporting practicality.
Governance updates
There were no proposals in this quarter.
Risks and Challenges
Adoption
Over the past 12 months, we explored the commercial potential of Subcast, aiming to build a ‘final mile’ solution for the OTT live video streaming industry by leveraging Streamr’s core peer-to-peer technology. Following careful evaluation, we have taken the decision to close the project, given the significant investment required to gain a foothold in what is a technically and commercially complex market. While the outcome is naturally disappointing, Subcast helped sharpen our focus on the video streaming opportunity and has provided valuable insights now informing the development of Streamr TV.
Technical challenges
As part of our broader cost-reduction efforts, we implemented salary adjustments and restructured our leadership, development, and marketing teams. These changes required careful handovers of responsibilities, particularly within engineering, where team members previously responsible for certain components or systems transitioned out. While necessary, these handovers temporarily impacted velocity as knowledge transfer and onboarding of new responsibilities took place. We expect technical productivity to stabilize and improve in the upcoming quarter as the restructured teams settle into their new roles.
The development of the Autostaker—a tool that automatically manages operator stakes across sponsorships—is a technically challenging but strategically important project, designed to speed up operator participation in new stream sponsorships.
The implementation of stake decision logic has been non-trivial with challenges such as avoiding wasteful transactions, managing expired or depleted sponsorships and handling undelegation queues and partial liquidity. Distributed coordination is also needed to prevent multiple instances of an autostaker across a fleet from making conflicting decisions. Mitigations such as step sizes, randomness, and soft convergence parameters are being explored.
Security vulnerabilities or incidents
There have been no consequential security incidents.
Legal or regulatory updates
There have been no consequential legal or regulatory incidences.
If you have any questions about this transparency report, feel free to ask in the governance channel on the Streamr Discord.
