Synternet

Background and History

Synternet was officially launched in 2024 as a response to the growing need for interoperable data infrastructure in the Web3 space. The platform was designed to connect isolated blockchains, much like the internet connected isolated computers in the late 20th century. The mainnet launch, known as the Monaco release, signaled the beginning of Synternet’s ambitious roadmap, which includes integrating its data infrastructure across multiple blockchain ecosystems.

Synternet’s foundation lies in the development of its Data Layer, a protocol that facilitates real-time data flow between different blockchains. This allows developers to build decentralized applications that can access and utilize data from multiple sources, enabling new possibilities in various sectors, including DeFi, AI, IoT, and gaming.

Key Features and Technologies

Data Layer Protocol

The Data Layer is the core of Synternet, providing a customizable execution layer that enables real-time data sharing across all major blockchains. This protocol uses a publish-subscribe framework where data providers (publishers) can stream data to consumers (subscribers) in real-time. This eliminates the centralization risks and computational burdens associated with traditional data architectures.

Autonomous Economic Agents (AEAs)

Synternet introduces AEAs, which are smart contracts designed to operate autonomously based on predefined economic rules. These agents can interact with multiple data sources, enabling developers to create highly flexible, use-case-specific decentralized applications that can react to real-time data from any blockchain.

SYNT Token

The SYNT token is integral to Synternet’s ecosystem, providing utility across various functions. Users can stake SYNT tokens to participate in governance, pay for data services, and subscribe to data streams on the platform. The token also plays a crucial role in incentivizing node operators who contribute bandwidth, storage, and compute resources to the network.

Usage and Applications

Synternet’s versatile infrastructure supports a wide range of applications:

• DeFi: Provides instant access to real-time data for building complex financial instruments, including derivatives and trading algorithms.
• AI: Facilitates the creation of decentralized machine learning models that can leverage data from multiple blockchains.
• IoT: Enables real-time streaming of sensor data to blockchain applications, allowing IoT devices to interact with smart contracts.
• Gaming: Supports in-game economies by providing real-time data for NFTs, in-game currencies, and other financial activities across chains.

Governance and Tokenomics

Governance

Synternet’s governance is decentralized, with SYNT token holders able to vote on key protocol upgrades, parameter changes, and ecosystem developments. The platform’s governance model is designed to be highly flexible, allowing for rapid adaptation to emerging needs in the Web3 space.

Tokenomics

The SYNT token has a total supply that is managed through a combination of staking, rewards, and transaction fees. Following the migration from the NOIA token in mid-2024, SYNT became the primary token for all transactions and governance activities within the Synternet ecosystem. The platform’s tokenomics are designed to incentivize participation while maintaining a deflationary pressure on the circulating supply.

Notable Events

Mainnet Launch

Synternet’s mainnet went live in June 2024 with the Monaco release. This launch marked the beginning of Synternet’s mission to provide decentralized, real-time data infrastructure across the Web3 ecosystem. The launch also included the migration of NOIA tokens to the new SYNT tokens.

Pikes Peak Roadmap

In May 2024, Synternet announced its ambitious Pikes Peak roadmap, which outlines the platform’s development goals for the latter half of the year. This includes the introduction of Augmented Data Streams and expanded partnerships with major blockchain networks.

SYNT Token Migration

The migration from NOIA to SYNT tokens began in mid-2024, coinciding with the mainnet launch. This migration is part of Synternet’s broader strategy to unify its token economy and provide seamless utility across its platform.

Chain Support

As of 2024, Synternet has integrated with several major blockchain networks to enable cross-chain data interoperability and real-time data streaming. The chains that are currently integrating or have already integrated with Synternet include:

1. Ethereum – One of the first blockchains to integrate with Synternet, enabling real-time data access for decentralized applications (dApps) on Ethereum.

2. Solana – Synternet supports high-speed data integration with Solana, which is particularly beneficial for applications in DeFi and trading due to Solana’s high throughput.

3. Cosmos – Synternet’s integration with Cosmos is pivotal, especially following its mainnet launch on the Cosmos network. This integration enhances Synternet’s ability to provide cross-chain data services.

4. Osmosis – As part of the Cosmos ecosystem, Osmosis benefits from Synternet’s real-time data streams, which are essential for decentralized exchanges and liquidity protocols.

5. Polkadot – Synternet is working on integrating with Polkadot to facilitate interoperable data services across Polkadot’s parachains.

6. Avalanche – This integration is focused on providing real-time data access for applications built on Avalanche, particularly in DeFi and IoT.

7. Polygon – Synternet is integrating with Polygon to support scalable data infrastructure for dApps, especially those focusing on NFTs and gaming.

8. Near Protocol – Integration with Near is aimed at enabling decentralized applications to access cross-chain data for enhanced functionality.