SINOVATE Financial Statement: August 2020

Since the beginning, SINOVATE (SIN) has provided transparency across business and development related activities to its community, through monthly financial updates. This policy will continue endlessly for generations to come. Please stay at home, follow the rules, and most importantly stay safe.

Please see the distribution details for August 2020 below:

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Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

Core Developers, Web Developer, Back-end Developers, Insights and Nodejs Developers, Telegram Community Managers, Discord Community Managers, Twitter Administrator, Reddit Administrator, Bitcointalk Administrator, Medium Writers, Campaign Manager, Marketing Team, Content Creators, Art Director;

Team: 3500K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 150K SIN

Pools: 50K SIN

Expenditures in August 2020: 3.7 million SIN

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Below is a breakdown of total expenditures thus far:

Total Expenditures until August 2020: 146.601 million SIN

Expenditures in August 2020: 3.7 million SIN

Total Lifetime Expenditures: 150.301 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 128.110 million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 22.191 million SIN, for providing funds to enable continued development. This debt will be paid when sufficient funds are available via the 10% Developer Fee.

All previous Financial Statements are available via the SINOVATE Medium page.

Join us and 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

SINOVATE Monthly Report: July 2020

SINOVATE (SIN) has experienced a relatively quiet month for new announcements. The SINOVATE team continues to work tirelessly to iron out and resolve remaining bugs for the DIN (Deterministic Infinity Node) 1.0 codebase, prior to the mainnet AURORA upgrade release. The closed testnet phase will be open to the public soon. Stay tuned to find out more. Exact details regarding the upgrade will be communicated shortly, as well as many new announcements that will make for an exciting and action-packed August. Please stay at home, follow the rules, and most importantly stay safe.

ANNOUNCEMENTS & PARTNERSHIPS

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SINOVATE Distributed Cloud Storage explainer video releasedhttps://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=a19fcc184b9711e1b4764040d3dc5c07&schema=twitter&url=https%3A//twitter.com/sinovatechain/status/1282736517077770240&image=

SINOVATE has released an explainer video, which describes how we seek to re-invent the distributed cloud storage space. Click here to find out how Infinity Nodes, in tandem with our custom-created cloud storage solution Incorruptible Date Storage (I.D.S.) will permit the exceptionally safe and secure storage, sending, and retrieval of all types of data, rapidly and without cost for everyone.

Also, learn about how fantastic upcoming I.D.S. features including Blockchain Electronic Mail and the decentralized direct messaging facility SIN Messenger will function. Stay tuned for new videos covering all aspects, features, and services that we provide via our YouTube Channel and official website.

ARTICLES & REVIEWS

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https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=a19fcc184b9711e1b4764040d3dc5c07&schema=twitter&url=https%3A//twitter.com/sinovatechain/status/1284045564330614785&image=

SINOVATE: Blockchain Data Storage and Infinity Nodes with Proof-of-Burn Review released

Many thanks to Satoshi Sean for his fantastic review of the SINOVATE project. Sean provides a thorough analysis of our upcoming cloud data storage solution Incorruptible Data Storage (IDS), as well as the masternode enhanced Infinity Nodes. Details are given on how infinity nodes function, collateral requirements and node tiers, potential return on investment, and how the custom-created Infinity Nodes 1.0 will differ from all other masternode offerings.

An explanation is also provided on our Proof-of-Burn reward algorithm, and the essential role this plays for continuous network stability and security currently as well as latterly for IDS cloud. Watch the blockchain data storage and infinity node review here.

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Assessing SINOVATE Inflation article published

Learn about the coin economics for SINOVATE, and how to perfectly time your investment to enable maximum returns. This article also describes how the coin burning of transaction fees and Infinity Node collateral plays an integral role in controlling inflation and maintaining value per SIN coin, with network participants benefiting from a limited circulating supply.

Furthermore, our upcoming Incorruptible Data Storage (IDS) facility is mentioned as having a positive compounding effect for all investors once implemented, as the total SIN coins supply will decrease annually. Many thanks to Jonathan Leesfor this brilliant write-up.

COMMUNITY GROWTH & SOCIAL MEDIA

We continue to experience high growth across all social media and communication channels:

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Sinovate.io STATS

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DEVELOPMENT

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Released:

c4de1d8 Fixed deadlock possible – crptec.

fe70ec0 Locked both main and cs – crptec.

9371e85 Made sure miner/validator get all lock before b… – crptec.

b5d6027 [threading] Locking revert – giaki3003.

1a74a96 [threading] More locking reverts – giaki3003.

6351e41 [threading] Locking reverts (again) – giaki3003.

8a1cafd [threading] Locking reverts (final) – giaki3003.

ba05d50 [threading] Increased granularity when picking … – giaki3003.

cdd74f7 [threading] Avoided locking (and scanning) mempoo… – giaki3003.

856a58c [threading] Avoided locking infnodeman before we … – giaki3003.

be323da [threading] Take main here, so index parts don’… – giaki3003.

2db09bb Fixed crash and dead lock – crptec.

f540d21 Fixed crash possible – crptec.

82ec28a Reverted “fix crash possible” – crptec.

9fa8df0 Fixed crash issue when connection is NULL – crptec.

3ebab4c Built INF list before import blocks, avoid sync… – crptec.

a16710f Built stm at init state – crptec.

be323da [threading] Take main here, so index parts don’… – giaki3003.

856a58c [threading] Avoided locking infnodeman before we … – giaki3003.

cdd74f7 [threading] Avoided locking (and scanning) mempoo… – giaki3003.

b5d6027 [threading] Locking revert – giaki3003.

1a74a96 [threading] More locking reverts – giaki3003.

6351e41 [threading] Locked reverts (again) – giaki3003.

8a1cafd [threading] Locked reverts (final) – giaki3003.

ba05d50 [threading] Increased granularity when picking … – giaki3003.

9371e85 Made sure miner/validator get all lock before b… – crptec.

fe70ec0 Locked both main and cs – crptec.

c4de1d8 Fixed deadlock possible – crptec.

929b962 Fixed deadlock and warning message – crptec.

73edeb8 [threading] Avoided locking here while calling Bl… – giaki3003.

00a6f50 [threading] Take this lock before locking mempo… – giaki3003.

00a6f50 [threading] Took this lock before locking mempo… – giaki3003.

b9b6ef6 [threading] New threading logic – giaki3003.

4c54b15 [cleanup] Removed old miner leftovers (as now we… – giaki3003.

b0e4dca [threading] Made infnodeman’s cs public – giaki3003.

1f6d2ba [threading] Avoided taking this lock here – giaki3003.

52e2140 Fixed typo – hardwarewise.

ac7d83a Fixed crash issue – crptec.

7e17a09 Fixed possible dead lock – crptec.

834500b Typo Updated – SametBasturkk.

a7cb97c Not participate Musig if metadata is not matured – crptec.

06fbf7b [ix] Removed instantsend functionality from sen… – giaki3003.

c210dcb [ix] More IX removal – giaki3003.

ac59488 Checked LR before payment – crptec.

8994e5d Fixed testcase: Reject LR if it was not sent from… – crptec.

In progress:

Infinity Node 1.0

  • Revolution of node structures.
    • Pure new custom code.
    • Deterministic Infinity Node infrastructure.
    • Schnorr Signatures.
    • Double run in mainnet.
  • I.D.S. — Step 1
  • Incorruptible Data Storage.
    • SIN Messenger (Decentralized Direct Messaging).
    • Blockchain-based Electronic Mail.

Blockchain Stats

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FINANCIAL STATEMENT

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The latest Financial Statement is available to view:

July 2020 Financial Statement Medium

WEEKLY UPDATES

Weekly updates for July 2020 can be found below:

SINOVATE Weekly Update 29/06/2020 ~ 06/07/2020

SINOVATE Weekly Update 06/07/2020 ~ 13/07/2020

SINOVATE Weekly Update 13/07/2020 ~ 20/07/2020

SINOVATE Weekly Update 20/07/2020 ~ 27/07/2020

Join us and 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

SINOVATE Financial Statement: July 2020

Since the beginning, SINOVATE (SIN) has provided transparency across business and development related activities to its community, through monthly financial updates. This policy will continue endlessly for generations to come. The SINOVATE team sends its best wishes to our community and all of your loved ones during this difficult time. Please stay at home, follow the rules, and most importantly stay safe.

Please see the distribution details for July 2020 below:

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Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

Core Developers, Web Developer, Back-end Developers, Insights and Nodejs Developers, Telegram Community Managers, Discord Community Managers, Twitter Administrator, Reddit Administrator, Bitcointalk Administrator, Medium Writers, Campaign Manager, Marketing Team, Content Creators, Art Director;

Team: 3500K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 150K SIN

Pools: 50K SIN

Expenditures in July 2020: 3.7 million SIN

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Below is a breakdown of total expenditures thus far:

Total Expenditures until July 2020: 142.901 million SIN

Expenditures in July 2020: 3.7 million SIN

Total Lifetime Expenditures: 146.601 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 122.193 million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 24.408 million SIN, for providing funds to enable continued development. This debt will be paid when sufficient funds are available via the 10% Developer Fee.

All previous Financial Statements are available via the SINOVATE Medium page.

Join us and 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

SINOVATE Financial Statement: June 2020

Since the beginning, SINOVATE (SIN) has provided transparency across business and development related activities to its community, through monthly financial updates. This policy will continue endlessly for generations to come. The SINOVATE team sends its best wishes to our community and all of your loved ones during this difficult time. Please stay at home, follow the rules, and most importantly stay safe.

Please see the distribution details for June 2020 below:

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Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

Core Developers, Web Developer, Back-end Developers, Insights and Nodejs Developers, Telegram Community Managers, Discord Community Managers, Twitter Administrator, Reddit Administrator, Bitcointalk Administrator, Medium Writers, Campaign Manager, Marketing Team, Content Creators, Art Director;

Team: 3500K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 150K SIN

Pools: 50K SIN

Twitter giveaway: 445K SIN

Expenditures in June 2020: 4.145 million SIN

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Below is a breakdown of total expenditures thus far:

Total Expenditures until June 2020: 138.756 million SIN

Expenditures in June 2020: 4.145 million SIN

Total Lifetime Expenditures: 142.901 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 116.05 million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 26.851 million SIN, for providing funds to enable continued development. This debt will be paid when sufficient funds are available via the 10% Developer Fee.

All previous Financial Statements are available via the SINOVATE Medium page.

Join us and 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

SINOVATE Financial Statement: May 2020

Due to the on-going COVID-19 pandemic, the entire crypto space has experienced a quieter than usual period for financial activity. While this is likely to remain the case for others until the outbreak clears, it has been business as usual for SIN. Expenditures required to establish our project both now and in the future will continue foreseeably. The SINOVATE team sends its best wishes to our community and all of your loved ones during this difficult time. Please stay at home, follow the rules, and most importantly stay safe.

Please see the distribution details for May 2020 below:

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Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

Core Developers, Web Developer, Back-end Developers, Insights and Nodejs Developers, Telegram Community Managers, Discord Community Managers, Twitter Administrator, Reddit Administrator, Bitcointalk Administrator, Medium Writers, Campaign Manager, Marketing Team, Content Creators, Art Director;

Team: 3500K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 150K SIN

Pools: 50K SIN

Masternodes.online first page banner: 0.244 BTC (1.164 million SIN)

YouTubers: $1500 (763K SIN)

French Media: 0.27 BTC (1.288 million SIN)

Expenditures in May 2020: 6.915 million SIN

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Below is a breakdown of total expenditures thus far:

Total Expenditures until April 2020: 131.841 million SIN

Expenditures in May 2020: 6.915 million SIN

Total Lifetime Expenditures: 138.756 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 110.2 million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 28.556 million SIN, for providing funds to enable continued development. This debt will be paid when sufficient funds are available via the 10% Developer Fee.

Click here for all previous Financial Statements.

Join us and 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

SINOVATE Financial Statement: April 2020

Due to the on-going COVID-19 pandemic, the past month has been relatively quiet for financial activity, which is likely to remain the case during the outbreak. Rest assured that we continue to work tirelessly to achieve all of our goals. The SINOVATE team sends its best wishes to our community and all of your loved ones during this difficult time. Please stay at home, follow the rules and most important of all, stay safe.

Please see the distribution details for April 2020 below:

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Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

Core Developers, Web Developer, Back-end Developers, Insights and Nodejs Developers, Telegram Community Managers, Discord Community Managers, Twitter Administrator, Reddit Administrator, Bitcointalk Administrator, Medium Writers, Campaign Manager, Marketing Team, Content Creators, Art Director;

Team: 3500K SIN

KYDcoin Verification: $150 (85K SIN)

Coiniran.com Marketing: 50K SIN

Russian YouTube: 50K SIN

YouTube Influencer Videos: 510K SIN

20 Articles: 510K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 150K SIN

Pools: 50K SIN

Kriptoda.com Turkish Crypto sponsorship monthly: $1150 (855K SIN)

ProBit Exchange Listing: 1.75 BTC (7.5 million SIN) + 5 million SIN

Expenditures in April 2020: 18.275 million SIN

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Below is a breakdown of total expenditures thus far:

Total Expenditures until March 2020: 113.566 million SIN

Expenditures in April 2020: 18.275 million SIN

Total Lifetime Expenditures: 131.841 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 103.7 Million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 28.141 million SIN, for providing funds to enable continued development. This debt will be paid when sufficient funds are available via the 10% Developer Fee.

Click here for all previous Financial Statements.

Join us and 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