SINOVATE Financial Statement: March 2020

March 2020 Financial Update

Due to the on-going COVID-19 pandemic, the past month has been relatively quiet for financial activity, which is likely to remain the case during the outbreak. Rest assured that we continue to work tirelessly to achieve all of our goals. 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 important of all, stay safe.

Please see the distribution details for March 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

Coiniran.com Marketing: 50K SIN

Marketing (Twitter follower bounties, Google Ads, Facebook Ads, YoTubers, Marketers, Influencers and Promoters): 850K SIN

Pools: 50K SIN

Kriptoda.com Turkish Crypto Video Medium monthly: $1150 (855K SIN)

Infinity Node reward reimbursements: 4.874.274 SIN

Expenditures in March 2020: 10.179 million SIN

Below is a breakdown of total expenditures thus far:

Total Expenditures until February 2020: 103.387 million SIN

Expenditures in March 2020: 10.179 million SIN

Total Lifetime Expenditures: 113.566 million SIN

Development Funds Wallet:

As shown above, the total amount received into the Development Wallet currently stands at around 97.8 Million SIN.

Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 15.866 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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