SINOVATE Financial Statement: May 2020

Due to the on-going COVID-19 pandemic, the entire crypto space has experienced a quieter than usual period for financial activity. While this is likely to remain the case for others until the outbreak clears, it has been business as usual for SIN. Expenditures required to establish our project both now and in the future will continue foreseeably. The SINOVATE team sends its best wishes to our community and all of your loved ones during this difficult time. Please stay at home, follow the rules, and most importantly stay safe.

Please see the distribution details for May 2020 below:

Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

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: 3500K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters): 150K SIN

Pools: 50K SIN

Masternodes.online first page banner: 0.244 BTC (1.164 million SIN)

YouTubers: $1500 (763K SIN)

French Media: 0.27 BTC (1.288 million SIN)

Expenditures in May 2020: 6.915 million SIN

Below is a breakdown of total expenditures thus far:

Total Expenditures until April 2020: 131.841 million SIN

Expenditures in May 2020: 6.915 million SIN

Total Lifetime Expenditures: 138.756 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 110.2 million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 28.556 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:

Website Discord . Telegram . Bitcointalk . Twitter . Facebook .Linkedin. Team.YouTube.Reddit.Instagram.

Author: Amit Kaushal

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