Synternet, the blockchain powering modular, interoperable data infrastructure across major chains, is proud to announce the launch of its mainnet on the Cosmos network. This milestone lays the foundation for a new era for the decentralized data economy, allowing developers to build innovative applications that use the power of real-time, trustless data streams from all major chains. Cosmos provides Synternet with a solid foundation for growth, offering a flourishing ecosystem with a wide range of projects, tools, and services. Besides technical advancements, the move to Cosmos sets the stage for Synternet’s Pikes Peak roadmap, which focuses on growth and expansion.
The Synternet mainnet launch also marks the start of the token migration from $NOIA to $SYNT. Learn more about the mandatory token migration in the official “Synternet announces $SYNT” blog post.
Multi-chain Growth and Cost-Efficient Ecosystem
Synternet's multi-chain growth strategy positions Cosmos as a hub for expansion. During the testnet phase, Synternet garnered significant interest from notable projects such as Injective, Osmosis, peaq, and many others, validating Synternet's vision of creating a vibrant, interconnected data economy.
Plus, launching on Cosmos offers reduced gas fees and faster transaction processing compared to other blockchain networks. This creates a more accessible and user-friendly ecosystem, aligning with Synternet's commitment to democratizing access to data and fostering a more equitable Web3 landscape.
$SYNT Token Utility and Future Developments
At the heart of Synternet's ecosystem is the $SYNT token, which serves as the primary means of payment for data services. Shortly after mainnet launch, participants will be able to use $SYNT to access and pay for real-time data streams from various publishers across multiple blockchains.
While the full potential of $SYNT will be realized in phases, the period from June 27th to July 29th will focus on ensuring the stability and security of mainnet operations. Learn more about the migration process in the official blog post.
Staking rewards for $NOIA will continue until July 29th. Token holders should consider the 7-day unbonding period when planning their migration strategy. Further details on bridging and staking will be announced ahead of July 29th, when these features are set to be enabled.
Developer Portal UX Upgrade
The Developer Portal has undergone important UX improvements, offering a more intuitive and streamlined experience for builders in the Synernet ecosystem.
With an enhanced user experience, developers can now more easily navigate through available data streams, manage their projects, and publish data. The redesigned portal showcases Synternet’s commitment to creating a user-friendly environment for developers to harness the full potential of decentralized data infrastructure.
Pay for Data and the Pikes Peak Roadmap
The Synternet mainnet launch establishes the foundation for paying for data using $SYNT or fiat within the Synternet ecosystem. Full token utility will be unlocked on July 29th, when the bridge to Cosmos becomes operational. This milestone will allow data providers to monetize their valuable data streams and enable consumers to access and pay for high-quality data in a trustless and decentralized manner. The utility of $SYNT opens up new opportunities for developers, businesses, and individuals, creating a vibrant marketplace where data is valued and exchanged based on market demand.
The Monaco milestone marks significant progress in Synternet’s roadmap and, looking ahead, paves the way for the Pikes Peak phase in the second half of 2024. Pikes Peak focuses on growth, expansion, and further development of the Synternet ecosystem, outlining milestones and initiatives designed to enhance the platform's capabilities, attract more users and developers, and establish Synternet as a leading player in the decentralized data economy.
Join the Synternet Ecosystem
"The launch of Synternet's mainnet on Cosmos is a technical milestone signaling the beginning of a new era for the decentralized data economy. With $SYNT, we're providing real utility, enabling users to pay for data services at reduced fees and fostering a more inclusive and efficient ecosystem," stated Jonas Simanavicius, CTO at Synternet.
"The mainnet launch is a key event for Synternet, signifying the realization of our vision for a decentralized data economy," said Daniel Haudenschild, CEO at Synternet. “With the $SYNT token now powering monetary value for data, we’ve created meaningful opportunities for developers and businesses. As we celebrate this milestone, we also look forward to the future growth and expansion outlined in our Pikes Peak roadmap.”
To learn more about Synternet and how you can participate, visit the official website, X, Telegram, Discord or blog.
About Synternet
Synternet is a blockchain that powers modular, interoperable data infrastructure across all major chains. At its core lies the Data Layer, a protocol serving as the customizable execution layer between blockchains. Its AEAs (Autonomous Economic Agents) empower developers to build composable, use-case-specific applications that can execute on any data from any chain.
