SINOVATE Financial Statement: September 2020
SINOVATE (SIN) provides transparency across business and development related activities to its community. This includes financial updates, where all monthly expenditures incurred are provided. This policy will be implemented on a continuous basis forever. Please stay at home, follow the rules, and most importantly stay safe.
Please see the distribution details for September 2020 below:
Breakdown of Treasury
Treasury funds fee from every mined block: 10%
Marketing: 25 %
Exchange Listing: 25 %
Development: 50 %
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
STEX Exchange ETH/USDT pairs: 0.4 BTC (2.8 million SIN)
Expenditures in August 2020: 6.5 million SIN
Below is a breakdown of total expenditures thus far:
Total Expenditures until September 2020: 152.584 million SIN
Expenditures in September 2020: 6.5 million SIN
Total Lifetime Expenditures: 159.084 million SIN
As shown above, the total amount received into the Development Wallet currently stands at around 134.375 million SIN.
Additionally, Operating Officer, Community Leader, and investor Tamer Dagli is owed a total of 24.709 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 Medium page.
Join us and stay tuned for all forthcoming updates via our website and social media platforms:
Author: Amit Kaushal