JANUARY 2020 FINANCIAL STATEMENT
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 January 2020 below:
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: 3250K SIN
Coiniran.com Marketing: 50K SIN
Whitepaper V3 XXL (SINOPEDIA): 250K SIN
Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 100K SIN
Coinsbit Exchange listing: 3 million SIN
Pools: 50K SIN
Masternodes Buzz: 0.125 BTC (690K SIN)
Cryptocurrency Checkout: 0.05685872 BTC (315K SIN)
InstaSwap: 0.05 BTC (277K SIN)
Forbes Middle East: 500K SIN
Expenditures in January 2020: 7.982 million SIN
Below is a breakdown of total expenditures thus far:
Total Expenditures until December 2019: 87.725 million SIN
Expenditures in December 2019: 7.982 million SIN
Total Expenditures: 95.707 million SIN
As shown above, the total amount received into the Development Wallet currently stands at around 85.774 Million SIN.
Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 9.937 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