Part 2: Diving Deep Into Our Dual Token System
🦋 Welcome to Part 2!
Because the nature of our dual token system is very intricate, we’ve broken it down into three parts. In Part 1 of our series we introduced you to part of our the $SNS token which powers SynesisDAO and gives holders a governance vote. If you haven’t had a chance to make sure to check out the first part of the series covering the $SNS token and SynesisDAO!
In part 2 we’ll cover Kanon, the key to our play-to-earn games and ecosystem.
What is Kanon?
A collectable NFT, a Kanon represents a keyword. The sum of all of Kanons will be equal to the total value of the Synesis Metaverse.
Each one of the Kanons will contain a unique keyword that will be embedded in algorithmically generated art.
There will be at least 10,000 Kanons minted per collection, with each collection named after one of the 88 recognized constellations, allowing us to cover multiple languages.
As we expand these collections, we anticipate that they will become more meaningful to the holders that speak the same language as the keywords. This also enables different communities to be formed around each language and culture, helping turn Synesis One into a truly diverse and global ecosystem!
The first 10,000 Kanons, called the Aquarius Collection, will be in English. It will contain words that appear most frequently in the meta-data database.
Each collection will also be curated by an artist or art group, as we are dedicated to celebrating these individuals that can generate art with AI. This also provides the opportunity to highlight up-and-coming generative digital artists and art collectives everywhere.
Not sure which keyword you might want to own? Take a look at our “10 Words You’ll Want to Collect Because They’re Difficult for Humans and AI!”
Generating Rewards
All Kanons generate claimable rewards based on their usage. They can only be claimed after specific requirements are met.
There are two requirements to claiming rewards in this way:
- Data Yield Farming (Ontology Mining): Perform the minimum data yield farming task set by SynesisDAO during a set period.
- Hold an Active Kanon (AK) and not a Non-Performing Kanon (NPK).
Let’s dive a little deeper into the differences between NPK and AK. The NPK title is given to a Kanon that has stopped generating claimable rewards for more than 12 consecutive months — in other words, it is just a pure collectable at this point, and no ontology miner can stake it as collateral. An AK is a Kanon that is actively generating claimable rewards at least once a year, and it can be staked as collateral.
Because of the reward mechanism, Kanon holders are also motivated to participate in the play-to-earn games. This is where much of the potential lies, as you can gain the reward-providing SNS tokens through gameplay.
The Kanon Exchange
Kanon Exchange aims to become the NFT-based data marketplace for the masses. We believe that data is an asset class in itself, and it deserves a dedicated decentralized marketplace or exchange for active trading.
The Kanon Exchange will follow through on this by eventually providing a diversified NFT-based digital asset trading platform. It will initially be the native marketplace for Kanon in the Web3 environment, but Kanon will also be available on other NFT marketplaces for trading on the secondary market.
The collectable Kanon NFT and the Kanon Exchange make up another element of Synesis One’s dual token system. These NFTs are key to being able to earn in the play-to-earn games, and outside of this, they can generate passive rewards by holding. Kanons also provide any individual with the chance to own a piece of AI generated art from creators all around the globe.
Our Kanons are coming soon! If you want to participate in this new type of dual-token ecosystem that enables you to earn in many different ways join us.
🦋 Learn more: NFT Marketplace | Twitter | Telegram | Discord| Web
