SINOVATE Financial Statement: May 2022

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 May 2022 below:

Breakdown of Treasury

Treasury funds fee from every mined block: 10%

Marketing: 25 %

Exchange Listing: 25 %

Development: 50 %

Expenditures

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):

Marketing: 1000K (1 million) SIN

Expenditures in May 2022: 4500K SIN (4,5 million SIN)

Below is a breakdown of total expenditures thus far:

Total Expenditures until May 2022: 275,471,000 (million) SIN

Expenditures in May 2022: 4500K SIN (4,5 million SIN)

Total Lifetime Expenditures: 279,971,000 (million) SIN

Development Funds Wallet: 143,875 million SIN until 21/11/2020

New Treasury Wallet: 125,025 million SIN

As shown above, the total amount received into the Development Wallet and the New Treasury Wallet combined currently stands at around 268,900,000 (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 11,071,000 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:

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

SINOVATE

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