The SYNAI Token

The SYNAI token has not been launched. The launch date will be announced later in 2024.

Introducing the SYNAI Community Token: The pillar of the Synnax Ecosystem

The SYNAI token will serve as the form of payment for Synnax services and as a catalyst for motivating and rewarding Synnax Ecosystem participants, ensuring that their contributions are recognized and appropriately compensated, whilst further rewarding accuracy and continuous improvement. As the platform expands and revenue increases, so does the intrinsic value of the SYNAI token through its innovative and multifaceted design.

Data Contribution Rewards

Synnax introduces an innovative token concept named Data Contribution Rewards (DCR). This concept offers a robust utility that parallels traditional staking methods.

DCR empowers SYNAI holders to earn rewards through data contribution by participating in regular sentiment and community polls.

This provides valuable data that significantly benefits the broader Synnax Ecosystem, particularly Data Scientists who will have access to the Synnax Community Dataset containing the poll data. To access this data a nominal fee, payable in SYNAI, will be charged. This fee contributes to the overall pool of rewards available for distribution to poll participants.

This arrangement establishes a direct revenue-sharing model between Synnax and its community, ensuring mutual benefit and engagement.

Universal Payment & Reward System

SYNAI serves as the designated payment method for accessing Synnax services. Verified Ratees and Rating Users who pay for Synnax services will periodically be granted access to a SYNAI discount window, facilitated by the Synnax Treasury.

Similarly, the Synnax Treasury will periodically set a SYNAI floor price, available to Data Scientists whose model output contributions and accuracy garner lucrative SYNAI rewards. This approach not only establishes a direct revenue-sharing system between Synnax and the participating Data Scientists but also creates a compelling incentive structure. It ensures that Data Scientists are consistently rewarded in a manner that is proportionate to their level of contribution and effort within the system.

In addition to being a token that will trade freely on the open market, SYNAI can also be purchased with stablecoins or fiat currency through the Synnax Treasury, offering a versatile entry point for all types of users.

Dynamic Utility

Future Synnax innovations will further augment the utility of the SYNAI token, rewarding the SYNAI community with exciting opportunities to participate in, and earn from, the Synnax Ecosystem.