Synesis One

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Discover Synesis One's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Synesis One?

Synesis One (SNS) is a cryptocurrency that powers a decentralized data crowdsourcing platform. It allows users to earn SNS tokens by completing micro-tasks that train AI models. The platform aims to democratize AI by providing a transparent and fair system for data contributors, ensuring they are rewarded for their work and have control over their data.

How is Synesis One used?

Synesis One (SNS) is a cryptocurrency used within a decentralized data crowdsourcing platform. The platform allows users to earn SNS by completing micro-tasks that train AI models. These micro-tasks involve data labeling and annotation, which are essential for AI applications. The decentralized nature of the platform ensures transparency and fairness in payments, addressing issues common in centralized data crowdsourcing systems.

Users can earn SNS by participating in these micro-tasks, and the token can be stored, traded, or used to purchase goods and services. Additionally, SNS holders can stake their tokens to earn passive income. The platform also utilizes NFTs, known as Kanon NFTs, which represent unique words. When these words are used by AI clients, the NFT holders receive a portion of the fees paid by the clients.

How do I store Synesis One?

To store Synesis One (SNS) tokens, you can use a secure cryptocurrency wallet that supports the Solana blockchain. Here are the steps:

  1. Download a Trust Wallet:

    • For desktop computers, download Google Chrome and the Trust Wallet Chrome extension.
    • For mobile phones, download the Trust Wallet app from the Google Play Store or the iOS App Store.
  2. Set up your Trust Wallet:

    • Register and set up the crypto wallet via the wallet’s Google Chrome extension or via the mobile app.
    • Make sure to keep your seed phrase safe and note your wallet address.
  3. Transfer SNS to your Wallet:

  • Once you've purchased your SNS, you can transfer it to your personal cryptocurrency wallet for secure storage.

Using a reliable and secure wallet like Trust Wallet ensures the safety of your Synesis One tokens.

How to buy Synesis One?

To buy Synesis One (SNS) tokens, you can follow these steps:

Buying Synesis One (SNS) on Centralized Exchanges (CEX)
  1. Register and Verify an Account:

    • Sign up on a centralized exchange (CEX) that supports Synesis One trading, such as Huobi, BitMart, XT.COM, or CoinEx.
    • Verify your identity and secure your account by enabling two-step verification.
  2. Buy Base Currency:

    • Use fiat to purchase a base currency like USDT, ETH, or BNB, depending on the available trading pairs for Synesis One.
  3. Transfer Base Currency:

  • If the CEX you're using supports both the base currency and Synesis One trading, you can proceed to trade. Otherwise, transfer the base currency to a CEX that supports Synesis One trading.
  1. Buy Synesis One:
    • Use the base currency to buy Synesis One in the spot market.
Buying Synesis One (SNS) on Decentralized Exchanges (DEX)
  1. Choose a DEX:

    • Select a DEX that supports the blockchain where Synesis One is listed, such as Uniswap (Ethereum Blockchain) or Pancakeswap (Binance Smart Chain).
  2. Buy Mainnet Currency:

    • Purchase the mainnet cryptocurrency corresponding to the DEX you've chosen (e.g., ETH for Uniswap or BNB for Pancakeswap).
  3. Set Up a Wallet:

  • Download and set up a crypto wallet like Trust Wallet, ensuring you have the correct wallet address and seed phrase.
  1. Connect to DEX:

    • Connect your wallet to the chosen DEX, using your wallet address.
  2. Swap for Synesis One:

    • Swap your mainnet currency for Synesis One on the DEX.
Additional Tips
  • Ensure the CEX or DEX you're using supports Synesis One trading and the desired trading pair.
  • Be cautious of scams and verify the official smart contract address if needed.
  • Keep your seed phrase and wallet address secure.
  • Consider storing your Synesis One in a cold wallet for long-term holding.
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History of Synesis One

Synesis One (SNS) is a cryptocurrency that powers a decentralized data utility and NFT marketplace focused on AI. The project aims to democratize data and AI by creating a platform where users can earn crypto by completing micro-tasks to train AI models. This play-to-earn system incentivizes users to contribute to the development of datasets that can be used to train AI algorithms.

Synesis One was initially launched through an IDO (Initial DEX Offering) token sale, which took place from January 26 to February 1, 2022. During this event, the project raised $400,000, with a token price of $0.05. The project also had an IEO (Initial Exchange Offering) on the same dates, raising another $200,000 at the same token price.

The project operates on a cross-chain environment, with its initial smart contracts deployed on the Solana blockchain to conserve gas costs. Future deployments are planned on other chains as well. Synesis One's ecosystem includes SynesisDAO, a decentralized autonomous organization that crowdsources ontologies in natural language format, and Kanon Exchange, a native NFT marketplace for Kanon tokens. Kanon tokens represent unique ontology primitives and can be staked as collateral to earn passive income.

Synesis One's token, SNS, has a circulating supply of around 508 million tokens and a maximum supply of 1 billion tokens. The project's market capitalization has varied over time, with a current market cap of around $15.38 million.

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How Synesis One works

Synesis One (SNS) is a cryptocurrency that operates within a blockchain-driven platform designed to provide decentralized solutions for digital asset exchange and financial services. Here's an overview of how it works:

Dual Token Economy

Synesis One employs a dual token economic system, which powers two interconnected operational areas: SynesisDAO and Kanon Exchange. This system allows for efficient management and interaction between different components of the platform.

Key Products and Features
  • Decentralized Exchange: Synesis One offers a decentralized exchange where users can trade digital assets without intermediaries. This ensures secure and efficient transactions.

  • Staking and Delegation: Users can stake their SNS tokens or participate in delegations to support network security and earn rewards. This mechanism incentivizes users to contribute to the platform's stability and security.

  • Lending and Borrowing: The platform provides a crypto asset lending and borrowing service, enabling users to earn additional income or secure loans with competitive interest rates.

SNS Token Utilities
  • Transaction Fees: Users pay SNS tokens as fees for transactions on the exchange, staking, or lending and borrowing activities.

  • Governance: SNS token holders have voting rights in crucial platform decisions, ensuring a decentralized and community-driven governance model.

  • Incentives: Users who stake or delegate can receive SNS tokens as rewards for their contributions to network security and stability.

Tokenomics
  • Maximum Supply: The maximum supply of SNS tokens is capped at 1 billion.

  • Circulating Supply: The circulating supply of SNS tokens is 700 million.

  • Allocation: The majority of SNS tokens are allocated for user and developer incentives, platform development, and marketing.

Additional Features
  • Data Crowdsourcing: Synesis One is also a data crowdsourcing platform where users can earn SNS tokens by completing micro-tasks that train AI models. This platform aims to democratize AI development by giving power and ownership back to the people who contribute to it.

  • Kanon NFTs: Kanon NFTs are another key component of the platform. They provide additional income streams for their holders through passive income mechanisms such as the Synesis Relevancy Index (SRI).

Buying and Trading SNS

SNS tokens can be bought and traded on various exchanges. For example, users can purchase SNS through a decentralized exchange (DEX) by connecting their crypto wallet and swapping their base currency (e.g., SOL) for SNS tokens.

In summary, Synesis One is a decentralized platform that leverages blockchain technology to provide a range of financial services and data crowdsourcing opportunities. The SNS token plays a central role in the platform's governance, transaction fees, and incentive structures, making it a key component of the ecosystem.

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Synesis One's strengths

Synesis One (SNS) has several strengths that make it an attractive investment opportunity:

  1. Play-to-Earn System: Synesis One develops games that incentivize users to create datasets that train AI, providing a unique and engaging way to contribute to the ecosystem.

  2. Yield Generating NFTs: Kanon NFTs, which are part of the Synesis One ecosystem, generate passive income for their owners. Each NFT represents a word, and when accessed by AI clients, the owner earns a part of the fee paid by the client.

  3. Data Yield Farming Application: Users can directly train AI and earn yields through the Data Yield Farming application, providing an additional revenue stream.

  1. Decentralized Autonomous Organization (DAO): Synesis One operates as a DAO, ensuring that decision-making is decentralized and transparent, which can lead to more community-driven development and governance.

  2. Cross-Chain Environment: Synesis One will operate on multiple blockchain platforms, starting with Solana, to conserve gas costs and ensure flexibility and scalability.

  3. Strong Team Background: The leadership team has extensive experience in gaming, tech, AI, and blockchain, with a gaming pioneer who introduced the free-to-play gaming model from East Asia to the West.

These strengths position Synesis One as a promising project that combines innovative technologies and engaging user experiences to democratize data and AI.

Synesis One's risks

Synesis One (SNS) is a blockchain platform that offers decentralized digital asset exchange and financial services. It provides a decentralized exchange, staking and delegation, and lending and borrowing services. The SNS token is a utility token used for transaction fees, governance, and incentives within the ecosystem.

Financial Risks

Synesis One (SNS) carries financial risks due to its exposure to market volatility and potential manipulation. According to InvestorsObserver, the token has been given a high risk assessment, indicating that it can be easily manipulated by limited trading activity. However, more recent assessments have downgraded the risk to moderate, suggesting that traders should be cautious but not overly deterred.

Market Performance

Synesis One has had varying market performances. It has shown significant growth potential, with an all-time high ROI of 4.49x, but it has also experienced declines, resulting in a current ROI of 0.53x. This volatility underscores the importance of careful risk assessment and diversification in the crypto market.

Tokenomics

The SNS token has a maximum supply of 1 billion and a circulating supply of 700 million. The majority of tokens are allocated for user and developer incentives, platform development, and marketing. This allocation strategy aims to promote adoption and growth within the platform.

Fundamental Analysis

Synesis One's fundamental analysis highlights its advanced blockchain technology, experienced team, and growing community. These factors contribute to its potential for innovation and growth. However, the platform is still in its early stages, and consistent adoption is crucial for its long-term success.

Comparison to Competitors

Synesis One stands out from competitors due to its high scalability, low transaction fees, and robust security features. These advantages make it an attractive option for users seeking decentralized solutions. However, the platform must continue to expand its offerings and services to increase adoption and stay competitive.

Conclusion

Synesis One (SNS) presents both opportunities and risks for investors. While it offers innovative decentralized solutions and has shown growth potential, it is also exposed to market volatility and potential manipulation. Careful risk assessment and diversification are essential for investors considering this cryptocurrency project.

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Did Synesis One raise funds?

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Synesis One’s team

  • Sage (Joshua Hong): Founder, serial internet-media and blockchain entrepreneur, and venture capitalist with a background in Industrial Engineering from Purdue and an MBA from the University of Chicago Booth School of Business.
  • F*ck (Paul Lee): Co-founder, clinician, scientist, and entrepreneur with a degree in Molecular and Cellular Biochemistry from Oxford and an M.D. from The School of Medicine at Catholic University of Korea.
  • Guru (Tracy Spaight): Head of NFT Gamification, technologist, entrepreneur, and digital media professional with a passion for blockchain and related technologies, holding degrees from Santa Clara University, Cornell University, and the University of Nicosia.
  • Harmony (David Saccon): CTO and Head of Product, experienced technologist with a background in software infrastructure technologies and active in blockchain since 2014, holding an MBA from Chicago Booth and a B.S. in Electrical Engineering from Queen’s University.
  • Love (John Doe): Chief Scientist, fund manager for Alpha Stone Capital and Co-founder of Alpha Trading Algos, known for providing go-to-market strategies, creative tokenomics, and branding and messaging.
  • Grace (Young Han Lee): Advisor (Legal), Sr. Attorney at Dentons Lee, advising on disputes and transactions with a focus on blockchain, energy, defense, and manufacturing in the US and Korea, holding dual law degrees from Seoul National University, Northwestern, and Georgetown.
  • Alpha (Yida Gao): Advisor (Strategic Growth), runs early-stage crypto investment firm Shima Capital, formerly co-ran Struck Capital and DDC, and was a technology investor at NEA and M&A banker at Morgan Stanley, with a background in math/CS from MIT and Stanford GSB.
  • Punk (Orion Depp): Advisor (Community Growth), Managing Partner at Master Ventures’ institutional Investment Management division and MV Polkadot VC Fund, with over 20 years in Fintech and experience in Defi, Gaming, and Metaverse across ecosystems.
  • Jump (Sinhae Lee): Advisor (Partnerships), Partner at GBIC, formerly a management consultant at McKinsey & Company, with an MBA from Stanford University and a B.A. in Business from Korea University.
  • Dynamic (Adrian Baschuk): Advisor (NFT Marketing), COO & Strategic Advisor for various companies, with expertise in NFT marketing and strategy.

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