August: Monthly Newsletter

Greetings Supporters!

The crypto market may have cooled down, but at Synesis One things are heating up! In this issue, we’re pleased to announce our recent progress on Workspace, including the successful completion of our closed beta, the upcoming launch of our new product centered Synesis One website, and our user acquisition strategy to ‘vampire’ clickworkers involved in natural language processing from Web 2.0 crowdwork platforms.

ANNOUNCEMENTS

• Seoul: Synesis One team members Isaac Bang and David Saccon traveled to Seoul to attend the five-day Solana Hacker House and the Korea Blockchain Week. There they met with several folks from the Solana Foundation, who were all impressed with the sophistication of our project. There are some exciting new developments from these meetings which we can’t disclose now but stay tuned!
• Singapore: Isaac Bang will be at the Solana Hacker House in Singapore from Sep 21 to Sep 25. So, anyone who are based in SG or will be attending Token2049 can reach out if they want to set up a coffee chat or grab a bite!
• Twitter Space: Each weekend for the past month, our leadership team has been running weekly Twitter Space AMAs. Everyone on the team has participated, discussing tokenomics, product development, and community. Thank you to everyone who participated. We appreciate all the excellent feedback from the community.
• Staking Program: As planned, we have retired our single sided staking program, after six successful months of operation. The community finally hit 10M token target and raised the APY to a whopping 40% for the final month. The total TVL was nearly 20M when the program ended. The team is now shifting focus to generating more trading volume and adding more liquidity to the SNS ecosystem. We are thus launching a new SNS:SOL farming program on ORCA, with an attractive APR for the first few months. We will revise the reward percentage every 2 weeks to monitor the performance. We hope to build up liquidity to around $500K in the coming months.
• Departures: Our Head of Community, Danver Chandler, has decided to pursue new opportunities and will be moving on from Synesis One. Danver was instrumental in building our community and made significant contributions during our IDO. We wish her all the best in her bright future! Synesis team member Leo Maranan will take over her responsibilities.

Workspace Updates!

• Closed Beta a success: Nearly 100 testers signed up as builders to participate in the Closed Beta last month, contributing just over 3,000 ontologies. They were joined by linguists from Mind AI, who worked as validators to test-drive the system. After so many months of careful planning and coding, it was immensely gratifying to see the system working in real time, both on the desktop and mobile.
• Data Yield Farming (DYF) is now running fully on-chain as a web3 system on Solana’s devnet. What this means is that Synesis One is the FIRST Web 3.0 based AI dataset crowdsourcing system. Moreover, almost all the code is original, with no forking. Our engineering team is at the cutting edge of innovation in blockchain development.
• Working at the cutting edge is exhilarating but also challenging. During closed beta, our testers uncovered several bugs and issues related to performance and usability. We appreciate your help in identifying these issues! Over the past few weeks, our development team has been steadily squashing bugs and improving the code.
• Performance: Those in crypto know that signing and authenticating a transaction on Web 3.0 wallets such as Phantom and Metamask can be slow. Similarly, querying data on blockchain is not as speedy at using a relational database on the cloud. Since DYF is 100% Web 3.0, processing on-chain submissions for utterances in our app takes time. During closed beta, the waiting times were sometimes intolerably long, like standing in line at the DMV. Fortunately, David’s team found a solution that should significantly speed up processing times. They also fixed a Web 2.0 loading issue that was slowing the validation process. More improvements are on the way!
• Usability: We noticed a drop in successful validations related to cause / effect assignments, which pointed to a need for clearer guidance and concrete examples. We are currently doing some heavy lifting to improve our front and backend infrastructure for our Train2Earn App.
• We’re preparing to launch Open Beta for our Train2Earn App in September! We’re excited to open the doors and share what we’ve built with a wider audience.

User Acquisition

In preparation for open beta, and the upcoming launch of our Train2Earn App, the team has been actively working on strategies to expand our user base, including:

• Website update: We are transitioning to a more product-centric website, to help site visitors understand the problem we’re solving, how we solve it, and why our Train2Earn solution is better than existing Web 2.0 approaches. Synesis team member Tracy Spaight and Isaac Bang are spearheading the new content and design. Stay tuned!
• Partnerships: We are presently in discussions with ‘scholar aggregators’, who help connect digital workers in emerging markets with opportunities. One of these aggregators has agreed to deliver 50 scholars for our open beta. We expect to funnel hundreds more digital workers into our Train2Earn App in the coming months.
• Clickworkers: Synesis team member Tracy Spaight undertook research on crowdwork platforms like Amazon Mechanical Turk, scale.ai, snorkel, Appen, and clickworker. While ‘income maximizers’ in the play2earn space remain an important target audience, we’re also looking at ‘clickworkers’ who already work on natural language processing tasks. He describes why Synesis can go head-to-head with Web 2.0 crowdwork platforms in his medium article, “Synesis One reinvents clickwork with a Web 3.0 ecosystem that empowers digital workers.”
• Here’s the article abstract: “Web 2.0 crowdwork platforms source the human intelligence needed to train Big Tech’s algorithms. In this system, tech giants set the rules of the game, with firm control over both compensation and working conditions. While some workers appreciate the flexibility to set their hours, many are unhappy with poor pay, exploitive requestors, and unresponsive management. Synesis One was founded to build a fairer and more open Web 3.0 ecosystem that empowers digital workers, offers better compensation, and allows workers to build digital wealth.” Read the full article here.

The Road Ahead

The Synesis team is busy preparing for the open beta and launch of our Train2Earn App, Workspace. Here’s what’s coming up next:

• September: Launch Open Beta for Train2Earn
• October: Testing, bug fixing, and preparing for Q4 launch of our app!
• November: We’re planning to attend the Breakpoint conference in Portugal. We’ll announce details in our next newsletter!

Closing thoughts

While fear, uncertainty and doubt continue to roil global markets and the crypto space, we’re continuing our course. Our team is passionate about what we’re building and excited to share it with the world this fall. We appreciate your continued support!

Onward!

Synesis One team

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