Payouts
How to earn with Synnax Lab
Last updated
How to earn with Synnax Lab
Last updated
Each month a pot of $10,000 and 1,000,000 points are allocated for distribution among Synnax Lab Contributors.
Contributors make submissions daily: every day predictions are made on a slightly updated version of X_forward_looking dataset, but the structure of the dataset remains unchanged.
For each company (row) in the X_forward_looking dataset, and each submission that you have submitted per day, the R2 score against the actual data (when it is released) is calculated. Then the score is squared and the ratio of the pot is allocated relative to other Contributors' scores. E.g. if Contributor_A scores 0.8 for Company X, and Contributor_B scores 0.5 for Company X, the ratio of the pot allocated for that company will be distributed as follows: square(0.8) : square(0.5) = 0.64 : 0.25.
Companies update their financial indicators on a quarterly basis. This means that for a given company each Contributor has roughly 90 days to submit 90 predictions for each financial indicator. Every time a company releases data, all of your previous submissions (up to past ~90 days) are taken into account and scored. As you continue to submit consistently, moving further, in addition to your current USD earnings & points, past submissions' will also generate USD earnings & points and compound on top of the current earnings. This means that (given the current pot volume), your monthly compensation will potentially grow during the first 3 months of contributing to Synnax Lab and only after 3 months it will reach it's full potential.
E.g. If you have been predicting for company A, quarter 2 for 2 months, and company A releases actual quarter 2 data today, all 2 months’ predictions will be scored individually, and the earnings for each prediction (total ~60) will be summed up and awarded today. Tomorrow you would start predicting quarter 3 for company A.
Accumulated USD earnings are transferred to each Contributor on a monthly basis as USDT sent to their Telegram Wallet.
In addition to cash compensation, Contributors are awarded points, which will be converted to SYNAI Tokens after it's release in Q1, 2025.
A detailed explanation of the Synnax Lab mechanism from a Data Science perspective is provided in the video below.