Since SINOVATE’s (SIN) inception in late 2018, initially, as SUQA, equality has always been ingrained within our culture. Fairest launch without an ICO and no pre-mine set the tone, permitting all network participants to enjoy project success equally. SINOVATE is taking this ideology to a new level by announcing that C Level Executives will no longer exist, with the community entirely driving the project.
CEO and Founder Tamer Dagli will be resigning from his position, initiating the new title of Operating Officer & Community Leader with immediate effect. Tamer’s duties in global community management, client liaison, and as SINOVATE evangelist will remain unchanged. As ever, he will continue to be the go-to guy for all things SIN.
So what does this mean for SINOVATE?
SINOVATE will now distinguish itself as a fully decentralized autonomous organization, with no central authority directly responsible for project-related decisions. The community has always contributed to decision making since day one. Recent examples include the block reward improvements vote; treasury funds increase, removal of the node limits as well as the network transaction fees. With the release of in-wallet voting, community governance will transparently rule for the foreseeable future. SINOVATE has always been a community-driven project; therefore, the project team determined to rely on community decisions entirely.
Revolving Sovereignty Votes (R.S.V.)
Anything involving but not limited to exchange listings, marketing, development, rules, and future use cases will be put to the vote, with community choices remaining final. Community voting, once carried out via the SIN discord server has already transitioned to an enhanced decentralized e-governance system, known as R.S.V., aka Revolving Sovereignty Votes.
R.S.V. encourage fairness, by permitting infinity node participants to assume control over voting rights, while completely burning voting fees for low emissions. Once a node has matured, which takes up to 365 days, the voting right will expire. This must be renewed through new node ownership on a first-come, first-served basis, to achieve upcoming polling powers for increased decentralization throughout the SINOVATE network.
Total Transparency
The SIN team’s complete transparency policy has always existed, through weekly and monthly reports. These summarise progress, project development, and costs incurred, and will continue to be provided regularly. Click herefor all reports to date.
SINOVATE Team Members
Changes to our organizational structure will impact team member roles as follows:
- Tamer Dagli is resigning as CEO & Founder and will continue to work as Operating Officer & Community Leader.
- Pallas is retreating as CTO & Co-Founder and will continue to work as Lead Cryptographer and Core Developer.
- Xuantan Nguyen will continue as Head of Development and of course Big Data Specialist.
- All other team member titles and responsibilities will remain the same.
The SINOVATE blockchain is and shall always remain independent of its team members. No central entity controls the network, which is maintained in a trustless manner, via infinity nodes globally.
Conclusion
We believe this new dispersed model entirely promotes our ethical code and core values as an excellent example for all projects, where network participants always experience the same benefits. Join us on our journey, as we continue to establish SINOVATE long term within the crypto sphere.
Stay tuned for all forthcoming updates via our website and social media platforms:
WebsiteDiscord . Telegram . Bitcointalk . Twitter . Facebook .Linkedin. Team.YouTube.Reddit.Instagram.
Author:Amit Kaushal
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