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:
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
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
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
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