FINANCIAL STATEMENT February, March And April 2019
SINOVATE (SIN) endeavors to provide transparency across business and development related activities at all times. Due to the impending hard fork and recent rebrand, Distribution of Development Funds for February and March 2019 were not previously published. Please see distribution details below, which also includes a breakdown for April 2019:
Founders Fee from every mined block: 9.090909%
From May 2019, the Founders Fee will be significantly reduced to 1.1%, to coincide with the impending hard fork.
Marketing, Web Development, Administrators and Moderators
- Telegram Community Managers, Discord Community Managers, Twitter Administrator, Reddit Administrator, Bitcointalk.org Administrator, Medium Moderator, Marketing Team, Content Creators, Creative Director, Web Developer: 750K SIN x 3 months = 2.25 million SIN
- Blockchain Custom SIN Core Wallet written from scratch to Bitcoin Core version0.17.1: 1 million SIN
- X25X Custom Algorithm development: 1 million SIN
- Infinity Nodes development: 3 million SIN
- Mobile Apps:250K SIN x 3 months = 750K SIN
Below is a breakdown of expenditures thus far:
- September 2018-January 2019: 30.275 million SIN
- February 2019-April 2019: 8 million SIN
- Total Expenditures: 38.275 million SIN
Development Funds Wallet:http://suqaexplorer.com/address/SZLafuDjnjqh2tAfTrG9ZAGzbP8HkzNXvB
As shown above, the total amount received into the Development Wallet stands at 57.235 million SIN. 18.96 million SIN remaining from expenditures will not be usedto acquire Infinity Nodes under any circumstances,and will be reserved for development and innovation purposes.