SINOVATE (SIN) strives to provide transparency across business and development related activities at all times, by providing monthly updates. Since the beginning, the SIN team has always been open and transparent with its community.
This policy will continue endlessly for generations to come. Please see the distribution details for November 2019 below:
Financial Statement November 2019
Treasury funds fee from every mined block: 10%
Marketing: 25 %
Exchange Listing: 25 %
Development: 50 %
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: 2500K SIN
Discord Bounties: 5K SIN
Coiniran.com Marketing: 50K SIN
Streaming and Zcore setup video: 150K SIN
Whitepaper V3 XXL (SINOPEDIA): 250K SIN
Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 160K SIN
Pools: 50K SIN
Faucet: 35K SIN
Proxy website payment for SIN discount: 50K SIN
Weshopcrypto: 110K SIN + 0.06 BTC (300K SIN)
Merchandise Design Contest winners: 50K SIN
Mobile Wallets: New development from scratch: $4680 (3.25 Million SIN)
Below is a breakdown of total expenditures thus far:
Total Expenditures until October 2019: 76.120 million SIN
Expenditures in November 2019: 6.850 million SIN
Total Expenditures: 82.97 million SIN
As shown above, the total amount received into the Development Wallet currently stands at around 73.868 Million SIN.
Additionally, CEO and Founder Tamer Dagli is owed a total of 9.155 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:
Author: Amit Kaushal