SINOVATE (SIN) provides transparency across business and development related activities to its community. This includes financial updates, where all monthly expenditures incurred are provided. This policy will be implemented on a continuous basis forever. Please stay at home, follow the rules, and most importantly stay safe.

Please see the distribution details for October 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): 600K SIN

Pools: 50K SIN

Expenditures in October 2020: 4.15 million SIN

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Below is a breakdown of total expenditures thus far:

Total Expenditures until October 2020: 159.084 million SIN

Expenditures in October 2020: 4.15 million SIN

Total Lifetime Expenditures: 163.234 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 140.219 million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 23.015 million SIN, for providing funds to enable continued development. Debt owed to Tamer is being paid via the 10% Developer Fee.

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

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

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

Author: Amit Kaushal

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