SINOVATE (SIN) endeavors to provide transparency across business and development related activities at all times. Please see distribution details for August 2019 below.

Financial Statement August 2019

The Founders Fee significantly reduced during late June 2019, supporting SIN’s continued efforts to promote fairness and equality for all:

Founders Fee from every mined block: 1.1%

Marketing: 0.25 %

Exchange Listing: 0.25 %

Development: 0.5 %

Marketing, Web Development, Administrators and Moderators

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

Team: 1000K SIN

Discord Bounties: 50K SIN

Twitter Turkish Bounty: 50K SIN

YouTube Reviews: 500K SIN

YouTube Bounty: 450K SIN Marketing: 50K SIN

Mobile App Development: 100K SIN

Russian specific Marketing , YouTube Reviews Bounty and Telegram Channels News Announcements: 250K SIN

NodeRun Partnership: 100K SIN

Walkyfit Partnership: 120K SIN

Cryptomasters: 200K SIN

Marketing (Twitter, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 500K SIN

MIDAS Airdrop & Bounty: 110K SIN


Below is a breakdown of total expenditures thus far:

Total Expenditures until July 2019: 62.325 million SIN

Expenditures in August 2019: 3.360 million SIN

Total Expenditures: 65.685 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 63.038.962.66782071 million SIN. 

3 million SIN has been lent by our CEO Tamer Dagli, in order to enable continued funding of the SINOVATE project. Also, as current funds are insufficient to finance on-going development, the Treasury Fund will be increased to 11%. This decision was taken with the SINOVATE Community in mind, who unanimously voted in favour of this proposal.

Join us and stay tuned for all forthcoming updates via our website and social media platforms:

Website . Discord . Telegram . Bitcointalk . Twitter .Facebook.Linkedin.YouTube.Team.

Author: Amit Kaushal