Management of SIN on Midas — update

INFORMATION RELATES TO: https://medium.com/@midasinvestments/management-of-sin-on-midas-33fa6334f8b1

Please read the above announcement to understand the new management of SIN on Midas.

Yesterday, we introduced two Sinovate shares on the ‘Available Shares’ list on the platform:

Sinovate — exch (SIN)

This is the Live Share mentioned in our previous announcement. SIN held in this share can be traded on Midas exchange and withdrawn, but will not generate rewards. If you purchase on InstantBuy, your SIN will arrive to this share.

Sinovate — node (SIN)

This is the Locked Share. SIN held in this share will be locked and burned as per Sinovate’s whitepaper and will generate masternode rewards. Coins in this share cannot be withdrawn and reinvested rewards will be locked in to masternodes.

To move SIN from your Live Share to your Locked Share: Get your deposit address on ‘Sinovate — node’ and set this as your withdrawal address on ‘Sinovate — exch’. Withdraw coins as normal, and they will be transferred across your shares.

To trade rewards on Midas exchange: Within your ‘Sinovate — node’ set your withdrawal address as your ‘Sinovate — exch’ deposit address. Then set the Reinvest option to 0%.

In future UI releases, we will focus on making this cleaner and easier to use, however for now this performs the task we need.