July 2019

SINOVATE (SIN) endeavors to provide transparency across business and development related activities at all times. Please see distribution details for July 2019 below. June 2019’s breakdown has also been provided:

Financial Statement June 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 Servers: 750K SIN

Discord Bounties: 100K SIN

Stolen rewards payment: 2750K SIN

Shared-Nodes Partnership: 1000K SIN

Chinese promotion: 55K SIN

Twitter Turkish Bounty: 20K SIN

YouTube reviews in Polish & Arabic: 75K SIN

Infinity Node YouTube set-up videos, across multiple languages: 550K SIN

Coiniran.com marketing: 50K SIN

Mobile App Development: 200K SIN

Russian specific Marketing including Bitcoin and Friends sponsorship, YouTube reviews and Telegram Channels News Announcements: 750K SIN

Discord Bot: 100K SIN

Marketing (Twitter, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 2 million SIN

ZelCash listing: 2.8 million SIN

Press Releases, Articles and reviews: 300K SIN

Cryptowolf.eu listing: 600K SIN


Below is a breakdown of total expenditures thus far:

Total Expenditures until June 2019: 49.225 million SIN

Expenditures in July 2019: 13.1 million SIN

Total Expenditures: 62.325 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 62.365 million SIN. 40K SIN remaining from expenditures will be reserved for development and innovation purposes. Unforeseen expenditures totaling 1 million SIN also had to be paid this month.

Additionally, 4 million SIN coins originally set-up as Big SIN Infinity Nodes are now being used by our Development Team, enabling the continued funding of the SINOVATE project.

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