SINOVATE (SIN) endeavors to provide transparency across business and development related activities at all times. Please see distribution details for October 2019 below.
Financial Statement October 2019
As voted by the SINOVATE Community, the Treasury Reward was due to increase to 11% of each block reward. However, in order to reduce emission levels, the SIN Team decided to change this figure to 10%. The SINOVATE Team believes this reward change will strengthen our community, significantly benefit current and future investors as well as enhance overall prosperity of our project moving forwards:
Treasury funds fee from every mined block: 10%
Marketing: 25 %
Exchange Listing: 25 %
Development: 50 %
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: 1750K SIN
Discord Bounties: 5K SIN
Explainer Video: $500 (250K SIN)
CREX24 Listing: 0.35 BTC (1100K SIN)
Coiniran.com Marketing: 50K SIN
Written Content: 100K SIN
Russian Youtube Video Review: 50K SIN
Proxy UKR Exclusive SIN only Partnership: 1 Big SIN Node (1010K SIN)
Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 2000K SIN
Pools: 50K SIN
Telegram Stickers: 100K SIN
Expenditures
Below is a breakdown of total expenditures thus far:
Total Expenditures until September 2019: 69.655 million SIN
Expenditures in October 2019: 6.465 million SIN
Total Expenditures: 76.120 million SIN
As shown above, the total amount received into the Development Wallet currently stands at around 67.5 million SIN.
In addition, our CEO Tamer Dagli is owed 940K SIN for the month of October, 4.680.000 million SIN for September as well as 3 million SIN for August. Current debt stands at 8.620 million SIN, which has been lent in order to enable continued funding. This will be remunerated via the 10% Developer Fee.
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
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