SINOVATE Financial Statement: July 2021
SINOVATE (SIN) provides transparency across business and development-related activities to its community. One of the transparency efforts includes financial updates, where all monthly expenditures incurred are provided. We will publish the financial reports continuously forever.
Please see the distribution details for July 2021 below:
Breakdown of Treasury
Treasury funds fee from every mined block: 10%
Marketing: 25 %
Exchange Listing: 25 %
Development: 50 %
Core Developers, Web Developer, Backend Developers, Insight, Nodejs, Mobile Developers, Telegram Community Managers, Discord Community Managers, Twitter , Reddit , Bitcointalk , Writers, Campaign Manager, Regional Managers, , Content Creators, Art Director;
Team: 3500K (3,5 million) SIN
Marketing Team and additionally Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters):1200K (1 million) SIN
Bitcoinist article $2000 (567K SIN)
Payment ETH ERC20 address : 0x5d77679942eafb5e2c1958d115f4f9508311067d
Expenditures in July 2021: 5067K SIN (5.067 million SIN)
Below is a breakdown of total expenditures thus far:
Total Expenditures until July 2021: 222,064,000 (million) SIN
Expenditures in June 2021: 5067K SIN (5.067 million)
Total Lifetime Expenditures: 227,131,000 (million) SIN
Development Funds Wallet: 143,875 million SIN until 21/11/2020
New Treasury Wallet: 57,746 million SIN
As shown above, the total amount received into the Development Wallet and the New Treasury Wallet combined currently stands at around 201,621,000 million SIN. The New Treasury Wallet has been created due to excessive transactions within the Development Funds Wallet, an old wallet.dat that leads to technical issues associated with the private key.
Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed 25,510,000 SIN until now for providing funds to enable continued development. Debt owed to Tamer is being paid via the 10% Developer Fee.
All previous Financial Statements are available via the SINOVATE Blog page.
Join us and stay tuned for all forthcoming updates via our website and social media platforms: