Quarterly Newsletter: Q2 2024
Rebranding
To kick things off, we’re excited to share the new Synesis One branding!
Our new visual brand language represents our commitment to AI data provenance. Only verified data can ensure the accuracy and reliability of AI and we are ready to lead this space!
The rebranding goes along with repositioning the company to showcase everything we have to offer. Synesis One is more than just a data crowdsourcing platform. That is only one aspect of our work.
Synesis One is an enterprise AI data engine, that provides a whole suite of data solutions for companies and governments. Currently, we help our clients crowdsource data generation and data preprocessing needed to train AI models. With a live product and real, enterprise clients, we are one of the first projects in the AI x Crypto space making real revenue from its AI data services. The crowdsourcing platform, also known as Train2Earn, has been live on Solana mainnet since 2023. This allows anyone, anywhere to participate in data campaigns and earn crypto.
Synesis One on Stage
We’ve been focusing on on-the-ground marketing this year. We have been busy attending conferences, participating in exhibitions, and delivering presentations.
Isaac Bang, our CEO, attended Consensus in Austin, Texas and was one of the speakers in the panel discussion on AIxDePIN alongside Render, Helium, and Arcium at the Snapshot Consensus event. You can watch the recording of the panel session here:
After Consensus, our team flew to Singapore for SuperAI, one of the most anticipated AI conferences. Our CEO also delivered a keynote on distributed data processing and how data verification is becoming increasingly more important in today’s world.
You can watch the presentation here:
Huge Demand for Data Solutions
During these events, we met with a lot of companies looking for data solutions. With Generative AI blowing up, everyone is integrating or looking to integrate GenAI into their businesses.
Companies we’ve met either 1) already have their own AI models, but they need to prepare existing data within the company to improve the models, or 2) are just now exploring how to integrate AI into their business operations. Both groups need data preprocessing, but do not have the in-house resources. The most common needs were tagging and labeling existing datasets to create and train or fine tune their own proprietary models.
This huge demand for data solutions validates our entire work at Synesis. One major area of focus for us this year is to pursue these leads, signing up more clients, getting more work on our platform, and driving more demand for SNS tokens.
New Features
Our dev team has been working nonstop to continuously improve our Train2Earn platform and add more features. Here are a few features that we’ve recently launched:
Campaign allocations based on levels
All new Train2Earn builders start at level 1 and as they accumulate more approved submission and higher approval rates, they’ll level up and their rewards will increase as well.
Now, priority campaigns from clients or challenging tasks that require more skills can now be assigned to higher level builders. Basically, the higher your level is, the more access to campaigns and higher earnings potential!
Priority fees and UI improvements
The Solana network has been increasingly getting busier. More users, projects, and transactions mean that the network can experience congestion more often that can result in some transactions failing. To mitigate this issue, we have implemented the feature of allowing users to add priority fees in their transactions.
We also made a lot of improvements to how we store and fetch data in our systems and interact with the Solana network. These have resulted to a much more responsive and faster UI.
$DITH tokens added a s rewards
As a part of our partnership with Dither, we implemented a feature to allow campaign rewards to be set up in $DITH. This means that some campaigns in the future will use $DITH as the reward and platform fee token.
Synesis Relevance Index
Earlier this year we launched the long-awaited SRI feature! SRI stands for Synesis Relevance Index, the basis for passive rewards for Kanon NFT holders.
The passive reward for SRI is funded by the platform fee on the Train2Earn platform. We charge clients a platform fee of 20%, and 10% of the platform fee is allocated toward passive rewards. In other words, 2% of the campaign budget set by clients goes to the SRI.
The more clients and work we have on the platform, the higher passive rewards Kanon holders can expect. You can read more details about the SRI feature in this Medium article.
What’s next?
Our main focus this next half of the year is to pursue leads and convert them into new clients. This will involve developing our platform further to enable us to handle a wider variety of data services. While it’s impossible to fight against market movements, what we can focus on is to continue building a real profitable business.
We will be releasing quarterly newsletters moving forward and have monthly community updates and AMAs. You can listen to our latest session on X Spaces here: https://twitter.com/i/spaces/1RDxlllXVmqxL
Our team will also be attending Token2049 and Solana Breakpoint in Singapore this September. We hope to see you there!
