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Jonas Simanavicius

Monza Goes Live: Top-Speed Blockchain Data Streaming Begins

December 14, 2023
Monza Launch: Advancing the Data Layer

With Syntropy's Monza launch today, we're making strides towards the first-ever decentralized access to on-chain data across major blockchains. It’s about reshaping the Web3 data economy and enabling permissionless utilization of data for projects, DeFi traders, and decentralized exchanges.

Monza is a major milestone for the Data Layer, starting with the deployment of third-party validators on the Syntropy Blockchain. Monza has a focus in the Cosmos ecosystem and beyond, providing custom data streams essential for dApps and app chains. This release will introduce token-based accounting mechanics enabling the gas-for-data token economy between subscribers, publishers, and brokers.

In this deep dive into Monza we spotlight Syntropy's pioneering steps in streaming data in a decentralized manner. We'll explore the impact of token accounting alpha and third-party validators, emphasizing their role in enhancing security, decentralization, and creating new earning potentials.

Token Accounting Enables Financial Transactions

Token accounting is one of the most noteworthy developments in the Data Layer during Monza. It enables individuals to get paid via tokens in the Data Layer, providing the basis for the Data Layer economy moving forward. 

Brokers and Publishers can now accept earnings and payment from Subscribers. Payments are performed on-chain and validated via consensus, making transactions secure and transparent. Earnings are based on service and network fee agreement via system wide parameters.

The economics and scalability of the Data Layer are also attractive to potential Publishers, who can onboard a large number of subscribers without scaling any infrastructure themselves. A popular data stream with a large population of subscribers offers great income opportunities.

Token accounting alpha is made possible by the streamlined model imposed on the network. The first modification is that Broker entities are trusted. The second is that for any single Service agreement, a single Broker node is in charge of routing the data from a Publisher to a Subscriber. Brokers track the bytes used by each Subscriber per Service, which is an on-chain agreement between Publisher and Subscribers regarding a specific data stream and its pricing information. 

Understanding the Data Layer.
Understanding the Data Layer.

Future iterations of token accounting will expand to include a proof-based system for Broker entities to join the network and perform their functions in a trustless fashion. As an initial implementation, token accounting alpha will lead towards more sophisticated financial interactions on the Syntropy blockchain.

Whether you’re a small-scale data publisher or a large blockchain project, this system offers a versatile starting point for various applications. Centralized alternatives for data streaming often traps users in non-flexible, expensive long-term contracts. With the Data Layer, projects of any size can subscribe to data streams, thanks to the permissionless nature of blockchain.

This allows projects to tailor their data demands dynamically, down to the cent, avoiding unnecessary costs thanks to the blockchain’s micro transactional capabilities. Developers can then easily and affordably integrate real-time data for faster, better, event-driven applications.

Community Engagement and Validators

The Monza phase will also begin to weave community into the fabric of the Data Layer. Syntropy will be  onboarding third-party validators to ensure the network’s integrity and resilience, including select community validators.

The Monza stage will ensure that validators are rewarded for enhancing network growth and stability. It’s part of our larger goal of making the Data Layer’s economic incentive structure beneficial to all actors, especially as validators  play a key role in ensuring the Syntropy blockchain is safe and free of exploits.

Validators play an important role in the blockchain consensus. Due to the decentralized and permissionless nature of the blockchain, consensus is required to prevent things like double-spending and fraud. Confirming and validating blocks, as well as transactions that come through the network, make Validators critical in ensuring actions are in accordance with the rules of the blockchain. 

During Monza, we’ll also begin to formulate ways to incentivize and reward community participation. Feedback from third-party validators, clients, and the community will all shape the future of Data Layer. It’ll be a crucial time for discussion, growth, and refinement as we push towards the next stages.

Last but not least, our enhanced Syntropy blockchain explorer is now online. It's capable of supporting custom blockchain transactions unique to the Data Layer, such as subscribing to data streams, setting up publisher nodes, broker node payouts, and many more. This window into the Syntropy blockchain will enable us to create dashboards that provide direct insight into what’s happening in the Data Layer network. Until then, we invite any curious minds to take a look at our Syntropy blockchain explorer here.

Business Impact and DeFi Use Cases

With Monza marking the inaugural stage of our roadmap, we're excited to announce that streaming data is now available for a variety of applications in DeFi. It’s a powerful new tool for DEXs, DeFi projects, and liquidity pools – all of which require the most up-to-the-second blockchain data possible.

Enhancing DEX & DeFi Liquidity Pool Operations 

For Cosmos projects seeking to optimize their data delivery to end-users, streaming data is critical. It enhances the functionality of DEXs and DeFi liquidity pools by providing real-time data essential for informed decision-making.

Real-time data offers deep insight into the liquidity pools behind tokens. It provides a detailed view of what's happening with similar transactions on other chains. For the first time, traders will have comprehensive insights into assets across chains and the liquidity pools that underpin their prices. This level of visibility is unprecedented in the DeFi space, enabling informed and strategic decision-making.

Another use case is better swap routing in DEX trading. When there’s no direct swap between token pairs, and a route through an intermediary token (C) is necessary to transition from token A to token B, real-time data is make or break. Swap routing traders need accurate, real-time data about liquidity pool statuses and transaction volumes, along with the rapidly shifting dynamics of the market. 

Traditional approaches, which typically rely on estimates, lead to inaccuracies and expose traders to arbitrage risks. By leveraging Syntropy's streaming data, swap routing becomes more precise, improving the efficiency and effectiveness of cross-token exchanges..

Reliable Chain State Calculations & Market Prices   

Syntropy streamlines the way market participants access chain state data and market prices. Typically, constant recalculations of chain state are needed, an often slow and repetitive process. Syntropy changes this by providing fast and accurate updates on market prices and chain states. This means traders and DeFi users can make informed decisions quickly, based on the latest data, without the usual delays or doubts about accuracy.

Real-time Decoding & Indexing 

Syntropy actively enhances developer tools by integrating ABI libraries, enabling the decoding of most open-source smart contracts directly into the developer's workbench. This initiative allows both humans and machine learning algorithms to interpret hashed chain data more easily. By transforming complex blockchain information into an accessible format, we equip developers and builders with real-time decoding and indexing capabilities via the Data Layer. 

As we approach the Silverstone stage, our commitment to enhancing cross-chain DEX transparency will take center stage. The integration of the Data Layer's real-time streams is set to remove uncertainty in DEX pricing, making trading safer and more profitable for those who depend on fast, accurate data for cross-chain liquidity pool and pricing information.

Sillverstone will be an even bigger game-changer for DEXs. We’ll expand our real-time data features and capabilities working cross-chain transparency. Quick and accurate data transfer is key when working cross-chain and with Silverstone, we're providing insight into the entire process of trading across different blockchains, making DEX trading more accurate, transparent, and fast.

And then there’s partnerships, which we expect to expand the market as we improve and evolve the Data Layer from now until Monaco. As the hub of tomorrow’s real-time blockchain data economy, the possibilities for future partnerships are expansive in DeFi and beyond.

Looking Ahead

We couldn’t be more excited to let you all in on the Monza stage. Now that we’ve launched the alpha version of token accounting, you’ll see exactly how the virtuous economic cycle of the Data Layer will work. It’s an opportunity for everyone to help co-create the future of decentralized Web3 data access.

But this is just the beginning. Silverstone is where we truly flex our muscles. In this next phase, Syntropy is set to dominate data access in DeFi and DEXs, and for any event-driven decentralized application.

Get ready to witness how Silverstone will revolutionize the way data is accessed, interpreted, and used, setting up Syntropy to be the leader in data access for the Cosmos ecosystem and branching out much further as we initiate Silverstone.

Ready to dive into the Monza stage? Join us on Telegram, Twitter, or Discord to become a part of the decentralized data access revolution.

Media Inquiries

Emilis Klybas

Marketing Manager

About Syntropy:

Syntropy delivers scalable, ultra-fast on-chain data for Web3 across DeFi trading protocols, projects, and ventures. Syntropy revolutionizes access to real-time blockchain data, providing on-demand, low-latency streams of transactional data directly from the mempool. Syntropy works on a decentralized architecture, enabling trust free, oracle-grade access to Web3 data.

To learn more about Syntropy, visit the Syntropy website, Twitter, Telegram, Discord or blog.