August has been a whirlwind of activity and innovation for Syntropy. As we enter the final stretch of Q3, let's look back at this month’s announcements, events, and technical progress. From releasing the Syntropy Showcase to engaging in thoughtful Twitter Spaces conversations, we've elevated the conversation around decentralized data solutions.
In this monthly update, we'll take a comprehensive look at what we've accomplished, what's in the pipeline, and how these steps align with our mission to reinvent blockchain data access with the Syntropy Data Layer.
Major topics include:
- Syntropy Showcase Release
- The Hidden Billion Dollar Market Blog
- Twitter Spaces with Jonas Simanavicius
- Open Syntropy Initiative
- Syntropy Community Programs
- Syntropy in September: Conferences
In technical news, the Syntropy Showcase launched this past month to give the public a glimpse at how the Data Layer will look and feel. Users can now visit the official Syntropy Showcase website, connect their wallet, and view a variety of real-time data streams. Aptos, Ethereum, and Solana are just a few of the chains that the Syntropy Showcase currently taps into.
It’s part of our mission to democratize blockchain data, showing that access doesn’t need to depend upon centralized providers. The Syntropy Showcase lets anyone view streaming blockchain data in a permissionless, truly decentralized way. Once the Data Layer is fully operational, builders and users can tap into these streams in a peer-to-peer fashion.
In August, Jonas Simanavicius, our CTO, penned an insightful blog post titled "The Invisible Billion-Dollar Market: Blockchain Data Access," shedding light on the rapidly expanding blockchain data industry. This sector, often overlooked, holds tremendous value, with companies that aggregate and provide blockchain data now worth tens of billions of dollars.
Jonas dove into the key aspects that are driving the blockchain data market. From NFT marketplaces requiring real-time wallet and price information, to DeFi platforms needing on-chain price data, the blog highlighted the ubiquitous need for data across Web3 applications.
The post also emphasized that while existing data solutions are effective, they often fall short in terms of decentralization, pointing out that the future lies in decentralized models that offer advantages in terms of cost and latency. The blog further discussed the challenges faced by the industry, such as interoperability, single points of failure, and scalability.
Jonas then discussed Syntropy's Data Layer as a future-forward solution that aligns with the principles of Web3. If you haven't already, make sure to read the full blog post for a deep dive into the untapped market potential of decentralized data. It’s a must-read for anyone interested in the future of the blockchain data marketplace and Syntropy’s unique solution to current bottlenecks.
This past month, Jonas also engaged in stimulating Twitter Spaces conversations with key industry figures. The first of these featured Alireza Ghods, CEO of NATIX Network, where the two delved into the complexities of blockchain and DePIN, discussing how they envision the future of connectivity.
In another Twitter Space, Jonas joined forces with Layne Nadeau, CEO of NVAL, to dissect the future of NFTs, focusing particularly on on-chain asset valuation and the looming data challenges in the industry. With both spaces drawing a significant audience, it's clear that these pressing issues resonate deeply within the blockchain community.
Stay tuned for upcoming discussions by following our Twitter account.
This month was filled with Open Syntropy Initiative (OSI) updates and reveals, from the sneak peek of our Blockchain Explorer to illuminating the decentralized finance ecosystem. Our commitment to transparency as we make blockchain data accessible and decentralized has never been stronger.
Here’s a quick recap of this month's accomplishments and some hints as to what’s around the corner for the Data Layer.
Another August highlight was the penning of an important Twitter thread from Jonas, providing the CTO’s perspective and insights about the DePIN Flywheel. It’s essential reading for anyone interested in the future of decentralized networks and infrastructure. You can read the full thread here, in addition to Jonas himself expanding more below:
I discussed the potential of decentralized physical networks, or DePINs, on Twitter last month. What I said was that basically, DePINs represent a major shift in how we see infrastructure, relying on tokens to drive user engagement and accelerate growth. Infrastructure develops due to the DePIN Flywheel, a self-replicating cycle at the core of DePINs.
In short, the more networks get used, the greater the token rewards. These tokens then encourage further infrastructure expansion and increase user numbers. The DePIN Flywheel can thus boost infrastructure growth by a factor of 10 to 100 by harnessing the network's whole power. DePINs are attractive due to their adaptability and affordability
They’re tailored to the specific needs of local crypto communities and can be implemented more affordably than centralized solutions. DePINs also scale simultaneously over many sites and aren’t restricted by bureaucratic red tape. DePINs are vital for blockchain and DeFi, enabling smooth P2P transactions and integration with tools like NFTs.
As Web3 protocols, communities, and use cases grow, so will the potential and necessity of DePIN. And Syntropy's Data Layer will be critical infrastructure to this virtuous cycle.
As Jonas continues to address core topics around decentralized infrastructure and the future of blockchain data, make sure to follow him on Twitter for more thought-provoking insights.
As we bid farewell to the summer season, we extend a warm invitation to all to join Syntropy's community programs. If you're not yet familiar with the array of exciting initiatives happening at Syntropy, here’s a quick rundown to get you started.
Syntropy Builders Program
The Syntropy Builders program is an initiative designed to empower developers to turn their innovative ideas into reality using real-time blockchain data. The program offers a unique opportunity for builders to contribute to Syntropy's Data Layer vision, leveraging their skills to create impactful projects within the Web3 ecosystem.
The Builders Program includes a wide range of ways to participate and get rewarded, including Grants, Missions, Bounties, and more. Every step offers a distinct pathway for builders to engage with our protocol and contribute their expertise to help shape the future of decentralized real-time blockchain data usage.
Currently, we have over 20 participants involved in the Syntropy Builders program. They are engaged in various tasks that contribute to the development of the Syntropy Data Layer, as well as working on projects aiming to secure grants.
If you're a developer and find this aligns with your interests, you can apply to become a part of the Syntropy Builders team. Your skills and contributions would be greatly appreciated within our community.
Syntropy Ambassadors Program
If the technical nature of the Syntropy Builders program doesn’t resonate with you, do not worry as the Syntropy Ambassadors Program is aimed at a much broader audience of Web3 users.
The Syntropy Ambassador Program offers an opportunity for every community member to become a valued and recognized contributor to the Syntropy community. This program enables individuals to participate in a range of activities, including content marketing, creative projects, creating educational material, and more.
Zealy serves as the operating system for community members who are eager to contribute to the project in simple yet rewarding tasks all while aiming to ascend the leaderboards. The monthly sprint commences on the first day of each month and concludes on the 30th. Throughout the month, participants have the opportunity to earn XP by successfully completing the available tasks. Certain tasks will undergo automatic validation, while others will be reviewed by the Community Management Team.
To uphold the competitive spirit, at the end of the month Syntroopers who meet the participation requirements enter a raffle of 1000$ (33 x 30$) worth of NOIA tokens. Eager to participate and win NOIA yourself? Simply visit the Syntropy community on Zealy and start completing quests!
September is set to be a pivotal month for the Syntropy team, with appearances scheduled at several important industry events worldwide. Gustas, our Ecosystem & Partnerships Lead, will be taking part in both ETH Singapore and Token 2049 in Singapore. Domas, our CEO, alongside CTO Jonas, will be attending the Permissionless conference in Austin, Texas.
We'll also take September to gear up for Cosmoverse in Istanbul, taking place the first week of October.
If you're planning to attend any of these conferences and would like to meet the Syntropy team, please reach out. We're eager to connect with our community and discuss potential collaborations, supporters, and community members. We hope to see some of you there to discuss anything and everything around blockchain data and Web3.
If you have questions, insights, or just want to chat, don't hesitate to reach out. Our community managers are always around on Telegram and Discord, and they genuinely enjoy hearing from you. Your feedback not only helps us improve but also fuels our mission. Thanks for being a critical part of our journey towards democratizing blockchain data access for all