SINOVATE Financial Statement: May 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 stay at home, follow the rules, and most importantly, stay safe.
Please see the distribution details for May 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 Administrator, Reddit Administrator, Bitcointalk Administrator, Medium Writers, Campaign Manager, Regional Managers, Marketing Team, Content Creators, Art Director;
Team: 3500K SIN
Marketing (Twitter follower bounties, Google Ads, Facebook Ads, Marketers, Influencers and Promoters):700K SIN
Finance Magnets non-sponsored article: $1500 (300K SIN)
Expenditures in May 2021: 4500K SIN
Below is a breakdown of total expenditures thus far:
Total Expenditures until May 2021: 207,634,000 (million) SIN
Expenditures in May 2021: 4.5 million SIN
Total Lifetime Expenditures: 212,134,000 (million) SIN
Development Funds Wallet: 143,874,784.77440938 million SIN until 21/11/2020
New Treasury Wallet: 44,750 million SIN
As shown above, the total amount received into the Development Wallet and the New Treasury Wallet combined currently stands at around 188,624,784 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 23.509 million SIN 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: