Jakub Korbel
Jul 5 · 1 min read

Dear Community,

SnowGem Core Team decided to make a new step forward and show more transparency details about our project. To this end, our transparency report details expenses and use of funds during the year 2018 and first half of 2019.

Key takeaways

- SnowGem project has 0 premined coins
- SnowGem project has no ICO
- SnowGem project has currently only 7.5% dev fee from a block
- SnowGem Core Team members has no regular salary
- With current price around $0.04 dev income is around $2400 per month
- At this moment, SnowGem Team owns around 60 000 XSG and 0.5 BTC

SnowGem expenses Report

- Listing on Exchanges and PolisPay: 8 BTC, 10 000 XSG
(Mercatox, Bitker, CB, STEX, FEX, South Exchange, PolisPay)

- Marketing expenses: 2.44 BTC, 150 000 XSG
(Voskcoin, Masternodes.pro, Masternodes.online, Masternode.live, Crypto Twitter, Airdrops, Conference, Discordbot, YouTube marketing, Forums)

- SnowGem Foundation start: 0.3 BTC

Total expenses spent: 10.74 BTC, 160 000 XSG
Total expenses for 07–05–2019: ~$128k

We hope that by making the information contained within this report open, our project will be more transparent to a wider community. We invite you to ask any question on our Discord, Telegram or Twitter.

Thank you, SnowGem Core Team

Jakub Korbel

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