SINOVATE Introduces Infinity Nodes With Unique Staking Incentives
SINOVATE, Formerly Known as SUQA, Introduces Infinity Nodes
LAS VEGAS, May 24, 2019 (Newswire.com) - SINOVATE, a collaborative technology company, recently revealed its new Peer-to-Peer (P2P) digital currency called SIN along with an innovation called Infinity Nodes.
Infinity Nodes differ from the more common Masternodes. The initial staked SIN coins used to create Infinity Nodes are immediately removed from the circulating supply. This method, known as "burning," theoretically creates a scarcity factor and, thus, each coin that remains in circulation would get a boost in perceived value.
- Each Infinity Node can hold a maximum of one million SIN (BIG SIN) for a 10 percent additional bonus. Holders can also choose to acquire either 100,000 SIN (Little SIN) or 500,000 SIN (Mid SIN) for a five percent bonus.
- Infinity Node holders earn a minimum guaranteed 22 percent annual return on staked SIN (only if the limit of 594 million SIN are locked in Infinity Nodes) after they have operated a node for 12 months. Upon annual maturity, nodes will no longer form part of the network protocol node count.
"Infinity Nodes are the evolution of Masternodes. We wanted to continue giving back to the people who believe in us and what we stand for long term. Thanks to Infinity Nodes, this has now become a reality,” said Tamer Dagli, SINOVATE CEO and co-founder.
SINOVATE will be finalizing several changes in their routine, all within a relatively short amount of time. While re-branding from SUQA to SINOVATE, the team has been working closely with KOMODO to make use of an additional layer of security called dPOW or Delayed Proof of Work. All of this has been happening while the team perfected their brand new algorithm called X25X, an ASIC, FPGA and Quantam-resistant algorithm which is tasked with fending off commercial-sized mining operations to make room for modest mining rigs.
SINOVATE Mainnet Wallet has been released. Community members are encouraged to participate in testing prior to the upcoming hard fork. Updated Infinity Node setup guides are also available.
Media Contact: Tamer Dagli