SINOVATE AURORA Mainnet goes live

Block height 550, 000 initiated. Infinity Nodes transition to DIN 1.0

Why has the network protocol changed?

The last 12 months have generally produced outstanding consistency for reward generation across each infinity node tier. Early adopters of MINI, MID, and BIG SIN Nodes have received more than 50% return on investment (ROI), with some lucky investors acquiring in excess of 60%. However, reward disparency, caused by the rewarding algorithm of the dash legacy masternode code was never the intention. In order to prevent this, DIN 1.0 was born.

What is DIN 1.0? What’s so special about it?

DIN 1.0 eliminates the dash legacy codebase from the SINOVATE network protocol, transitioning instead to a superior in-house created deterministic algorithm where rewards will always be equally distributed to node owners. On-chain rapid communication and blockchain synchronization will be enabled through our resource-friendly new wallet, which only requires minimal CPU usage.

What does the upgrade mean for Node owners?

I don’t have any masternode experience but would like to host an Infinity Node. What’s the simplest way to do this?

Hosting an infinity node has become a whole lot easier, through our in-wallet, one-click SINOVATE setUP cold hosting service. Setting up an infinity node can prove to be a daunting prospect, especially with no previous experience of masternodes or the Linux operating system. With this in mind, the SINOVATE development team has designed a seamless and user-friendly VPS hosting service, which at only $2.99 per month (annual plan cost with SIN only payment) provides cost-effective advantages over existing providers instantly.

How does SINOVATE setUP work? Is it really as simple as it sounds?

Please follow the guide here to set up a Deterministic Infinity Node using the 1-click in-wallet SINOVATE setUP. It really is simple. In just a few short clicks, would-be network participants can begin to earn significant passive income for up to a year. For community members who have previously set up an infinity node, SINOVATE setUP provides the perfect opportunity to re-assess your VPS needs at a fraction of the cost.

Why have MINI Node rewards increased?

We wanted to make it as worthwhile as possible for modest SIN coin holders to be rewarded for trusting and supporting our project. Therefore, a proposal to increase MINI Node tier rewards from 160 SIN to 560 SIN (350% uplift per block) after the network upgrade was put to the SIN community and accepted. As well as increasing earning capabilities for MINI Node holders considerably, this permits significantly more nodes to join the SIN network for future IDS needs.

SINOVATE community votes in favor of HODL Coin Offering Governance Proposal

The SINOVATE HODL Coin Offering Governance Proposal has also been accepted by the SIN community. This marketing campaign was created with inexperienced users in mind and enables SIN coins to be earned without setting up an infinity node and purchasing a VPS. The HCO incentive program swiftly commenced after the implementation of the network upgrade and will remain active for 75-days from 21st November 2020. SIN coins must be locked during this period in order to qualify. Payments will be made via the Development Funds Wallet, thereby nullifying excess inflation to the SIN coin supply.

  • 3% APY for a 3-month timelock.
  • 6% APY for a 6-month timelock.
  • 15% APY for a 12-month timelock.

Sounds great, but how will this actually work?

In order to explain how the HODL Coin Offering will work, please see the examples below:

  • If you have 10,000 SIN coins that are sent to a new address and they remain there for three months (64800 blocks), you will receive 75 SIN.
  • If you have 10,000 SIN coins that are sent to a new address and they remain there for six months (129,600 blocks), you will receive 300 SIN.
  • If you have 10,000 SIN coins that are sent to a new address and they remain there for twelve months (262,800 blocks), you will receive 1,500 SIN.

What are the rules of this campaign?

Rules for the HODL Coin Offering marketing campaign are as follows:

  • The campaign will run for 75 days.
  • Payments will be made during three, six, or twelve-month intervals, depending on your choice.
  • A maximum of 75K SIN may be time-locked.
  • There is no cancellation of locked coins.
  • Participants must wait for the maturity date of their lock period to receive rewards.
  • All transactions and amounts NOT in these intervals will be excluded from entry.
  • The duration of this campaign is 54, 000 blocks (75 days). You cannot enter before or after this window.

Conclusion

The AURORA mainnet upgrade serves as a significant landmark for SINOVATE, truly distinguishing us from all other cryptocurrency and masternode projects. The DIN 1.0 codebase is the first of its kind, as it is the only protocol to date that removes the dash legacy codebase from its underlying network, while also enabling 100% fair distribution of deterministic infinity node rewards forever. Node openings across all tiers are a fantastic opportunity for new and current investors to contribute and reap benefits from the SIN network, including the upcoming, world-class cloud data storage solution Incorruptible Data Storage. Increases to MINI Node rewards as well as the SINOVATE HODL Coin Offering lower entry points for would-be network participants, further establishing our reputation as a fair-for-all autonomous decentralized organization.

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