Note: This report covers the period between July 1st and September 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
As Q3 draws to a close, the Streamr project continues to strengthen its resolve on its new go-to-market strategy on the application layer, meaning a growth focus on StreamrTV and its future versions. Despite ongoing macroeconomic headwinds, we’ve kept a steady course by working on meaningful advancements to both our infrastructure and application layers.
As part of the strategic shift to focus Streamr’s efforts on the application layer, the project is transitioning its operational leadership to maximally support this new direction. The Project Council has nominated Mark Little to take over as the project’s lead executive and CEO. The change enables him to bring his commercial leadership, partnership experience, and entrepreneurial mindset to the forefront as we double down on go-to-market execution.
Alongside Mark, Petri Savolainen is nominated as the new CTO, leveraging his deep technical expertise as the long-time architect of both the Streamr Network and StreamrTV. The previous operative leads Matthew and Eric will be departing the project. As before, the co-founders Henri and Nikke will continue to work on the project on a daily basis, working hands-on closely with Mark and Petri, ensuring continuity and alignment with the project’s strategy and long-term vision.
Key achievements
- Developed a notable increment of features for StreamrTV:
- Launched the first payment rails for StreamrTV. Anyone can sign up as a Merchant, enabling them to receive proceedings from tipping-like purchases called Super Balloons. Broadcasters can choose one or more Merchants (including themselves) to be available on their shows. This not only enables broadcasters to monetize their content, but also charitable use cases whereby funds are collected to a third party organization.
- Added a chat sidebar, which enables the audience to communicate with the broadcaster and each other. Messages attached to purchases become sticky in the chat, incentivizing payments through added visibility.
- Broadcasters can invoke public or private recording of the broadcasts. Additionally, a list of previous public recordings appears for viewers joining the broadcast link late or early, when there is no live broadcast. This improves the user experience and boosts the visibility of prior content. (Note: at the time of writing, the recording feature is being finalized and slated for an early Q4 release)
- Network scaling tests confirmed the protocol’s ability to perform reliably across thousands of nodes in 17 global regions. This was published as a two-part technical deep-dive: Part 1, Part 2
- The Autostaker tool was developed to automate staking decisions for Operators—lowering the barrier to participation, reducing manual rebalancing, and optimizing APY in a gas-efficient way.
Project financials
- Approximately 7.5M DATA tokens were minted and distributed to community Node Operators.
- $442,689 USD was raised from the sale of 27,301,618 minted DATA tokens at an average price of $0.0162 per token for project development and growth.
- 824,234 DATA tokens generated in network protocol fees this quarter.
- At the end of Q3 the project’s cash reserve was approximately $440,000 USD. This is down from $535,000* in Q2. In both Q2 and Q3, some cash was spent to minimize downward pressure on the DATA token during unfavourable market conditions.
- From the previous governance checkpoint (SIP-22), 30 million DATA tokens remain for project expenses before triggering the next governance checkpoint.
* Note that the Q2 cash balance was originally incorrectly reported and subsequently corrected.
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 project. 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 December 2025. This is moved slightly forward from the previous estimate of January 2026. Changes in the token price, team spending, and utilization of the project’s cash reserves can extend or contract the timeline.
Project expenses
The overall spending in Q3 was $499k, notably down from the Q2 figure of $626k. This is largely due to changes made in Q2 to increase the team’s cost efficiency. Summer holidays also contribute to some savings in Q3. Costs in the admin category display an uptick due to certain annual expenses which were due in September.
The restructuring of the operational leadership removes some redundancy from the project’s management team, which will further liberate funds for either decreasing the burn further or reallocating the budget towards growth and marketing efforts. While the project burn has managed to adjust its burn to prevailing market conditions and funding, cost-efficiency remains one of our strategic focus areas in order to minimize token supply inflation and improve project sustainability.
| Month | Admin | Business | Leadership | Legal | Overheads | Tech |
| 7 / 2025 | 10,991 | 42,032 | 14,921 | 0 | 20,764 | 112,914 |
| 8 / 2025 | 9,867 | 31,212 | 14,823 | 0 | 6,155 | 57,543 |
| 9 / 2025 | 40,151 | 36,363 | 15,009 | 0 | 8,376 | 78,068 |
| Total | 61,010 | 109,606 | 44,753 | 0 | 35,295 | 248,525 |
Spending category contents:
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.
Total project expenses in Q3/2025: $499,189 USD
Locked/staked supply
The amount of locked tokens has grown slightly from 93M to 97M DATA representing a 4% increase in the amount of tokens locked in Stream Sponsorships from the start of the quarter to the end of the quarter.
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) |
| 19 | 2025-06-26 | 33 | 75758 | 2500000 |
| 20 | 2025-07-28 | 33 | 75758 | 2500000 |
| 21 | 2025-08-29 | 33 | 75758 | 2500000 |
Active (staked) node operators were 181 at the start of the quarter, dropping to 175 by 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: 11,226,620 DATA.
No payments were made from the Data Fund during this reporting period.
Governance updates
There were no proposals in this quarter. The next funding checkpoint proposal is expected in December 2025.
GitHub Activity
The development focus at the moment is on StreamrTV, which involves some non-public code repositories. For visibility into the non-public work, we are adding this new section to these transparency reports to display the development activity surrounding private repositories. (Note that the decision whether to open source StreamrTV should be made by the community in due course).
The heaviest development activity is currently in the repositories streamrtv, which is a monorepo containing the various modules of the StreamrTV application, and streamrtv-recorder, which contains the cloud backend for producing recordings of broadcasts. There is also ongoing development in the public network repository, which contains the main code of the Streamr Network, such as the Streamr Node and Streamr SDK.
Risks and Challenges
Adoption
Following the MVP1 launch of StreamrTV at the end of Q2, in Q3 we focussed on bringing in our first users from both Web3 and Web2 communities. Product analytics are now providing early insights into how the platform is being used and who is using it, enabling data-driven improvements. Following the recent launch of MVP2, we will continue testing across these user cohorts over the coming quarter – to understand where meaningful traction is developing. This measured, analytical approach allows us to better assess the market opportunity before committing significant resources. By the end of Q4 we aim to make a decision with respect to the lead value proposition(s) for StreamrTV.
Technical challenges
There were no hard technical challenges faced during Q3. StreamrTV is a complex system that integrates with third parties such as Stripe for payment processing and Amazon AWS for cloud storage of videos. StreamrTV is also a consumer-facing web application that needs to work on various browsers on various hardware platforms. The main soft technical challenge faced during Q3 arose from managing this complexity, but we have been able to overcome this challenge by improving our software development processes.
We foresee that the main technical challenge to be faced during Q4 will be the implementation of many-to-many video streaming in the StreamrTV core. However, we are confident that this challenge should not prove too difficult to overcome as StreamrTV technology has been designed with many-to-many streaming in mind from the beginning, and the core team has past experience of implementing similar systems.
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.
