Why We Are Building SynQuest
By leveraging cutting-edge technology, Synnax is set to revolutionize credit ratings and analysis for Web3, bringing greater transparency and efficiency to digital asset credit markets.
Through innovation and the combination of technologies like secure computation, blockchain, and a unique decentralized machine learning network, Synnax delivers real-time, unbiased, and forward-looking Credit Intelligence — ushering in a new era of credit ratings and analysis.
But why, you ask, is Synnax creating a Telegram mini app called SynQuest? A game where players help “Gaal,” a fictional knight, defeat enemies and reach the safety of a tavern, earning points and rewards along the way? Excellent question! Let us explain.
The Magic of Sentiment Data
Synnax is driven by data. The more data we have, the stronger the intelligence we can deliver. One particularly valuable type of data is sentiment data, though it’s notoriously hard to gather.
Synnax already provides its data science community with rich, meticulously constructed training data, real-time financial data, and a comprehensive set of macroeconomic and blockchain data. This treasure trove is enough to generate the forward-looking Credit Intelligence we aim for. However, we wanted to go a step further.
While our existing data is impressive, it can be enhanced with the pixie dust that is sentiment data. But how do we gather it?
Engaging and Incentivizing the Community
Synnax is a Web3 project that will have its own token, SYNAI, which will be integral to our business model. As Synnax scales, SYNAI will be in demand.
Our early community of data scientists, following our progress with excitement, have participated in Kaggle competitions and Telegram-hosted Datathons, earning Synnax Points since December 2023. The wider Synnax community will soon be earning points too by playing SynQuest. These points guarantee an airdrop of SYNAI when it launches, growing our community rapidly. If SynQuest even scratches the surface of other successful Telegram mini apps, we expect hundreds of thousands, if not millions, of players helping Gaal defeat enemies in the coming months. That’s a lot of users and wallets ready for a SYNAI airdrop.
Now, about that sentiment data. By playing SynQuest, users help our brave knight Gaal and, in turn, assist data scientists in improving their forecasts. How? Through fun questions, or as we call them, QUEST-ions.
Fun with QUEST-ions
SynQuest is a gamified “survey” — don’t let that word scare you!
To complete a quest, you help Gaal reach three taverns by defeating some enemies, which involves answering questions. Some will be trivia (sharpen your trivia skills!), while others gauge your sentiment toward crypto, financial markets, and the economy.
Rest assured, we do not collect personal data. We’re only after sentiment data, extracted from your answers.
Sharing is Caring
With sentiment data from millions of daily users, we create a real-time, monetizable data stream. Unlike other companies who collect your data, we share this monetized value with you, the players.
Synnax aggregates and structures sentiment data, making it extremely valuable for data scientists and other users, and shares the spoils with the originators of this data. Trusted partners can also include “sponsored questions” in the SynQuest question bank, paying for this privilege, with the proceeds once again shared with our community.
How will the revenue be shared?
SYNAI Staking
Playing SynQuest initially earns you points, guaranteeing a SYNAI airdrop. Post SYNAI launch, SynQuest will be integral to the SYNAI staking mechanism. Staking SYNAI and playing SynQuest will earn you a share of the sentiment data revenues as a staking yield. The more SYNAI you stake and the more quests you complete, the higher your revenue share.
Conclusion
SynQuest is not just a fun and novel way to distribute a SYNAI airdrop to the Synnax community, but also a crucial ongoing generator of sentiment data and a mechanism by which revenue can be shared with its users. So, ready your swords and start questing with Gaal — adventure and rewards await!
