Synternet Token Price

Synternet Token (SYNT) is a cryptocurrency used within the Synternet blockchain ecosystem. Synternet focuses on providing interoperable, real-time data infrastructure across multiple blockchains. The SYNT token plays a key role in this ecosystem, allowing users to access and pay for data streams from various blockchains.

Synternet operates through a network of publishers, subscribers, brokers, and observers, each contributing to the data flow and security. Publishers generate data, which subscribers can access by paying with SYNT tokens. Brokers act as intermediaries, and observers ensure the integrity of the data transactions.

Recently, Synternet migrated from the NOIA token to the SYNT token to enhance its integration with the Cosmos ecosystem and improve its tokenomics.

Synternet Token (SYNT) powers the Synternet blockchain, which enables real-time, interoperable data sharing across multiple blockchains. The core of Synternet is the Data Layer. It uses real-time data streams to provide continuous information flow from various blockchains. You subscribe to these streams to access data without managing nodes or APIs.

Synternet network participants include:

• Publishers generate and stream data.
• Subscribers pay to access this data.
• Brokers relay data between publishers and subscribers.
• Observers ensure data integrity by verifying the accuracy of brokers' proofs.

Synternet recently migrated from NOIA to SYNT. If you held NOIA on centralized exchanges, it was automatically converted to SYNT. For self-custody wallets, you need to migrate your tokens using Synternet's migration portal manually.

Synternet was founded with the vision of creating a decentralized data infrastructure that supports interoperability across different blockchains. This concept originated from the earlier Syntropy project, which rebranded to Synternet to better reflect its mission and goals.

The Synternet mainnet launched on Cosmos in June 2024, marking a significant milestone in its development. This launch brought lower gas fees and faster transactions, aiming to democratize data access in the Web3 ecosystem. The SYNT token, which replaced the NOIA token, became integral to this ecosystem, providing utility for accessing and paying for data services across various chains.

The key figures behind Synternet include CEO Daniel Haudenschild and CTO Jonas Simanavicius. They have been instrumental in driving the project forward and envisioning a future where Synternet powers a decentralized data economy. The project roadmap, known as the Pikes Peak roadmap, outlines plans for growth, expansion, and the introduction of advanced features like WebAssembly support and enhanced developer tools.

The $SYNT token has several key uses within the Synternet ecosystem:

1. Payment for Data Services: You use SYNT to pay for real-time data streams and other data services within the Synternet network. This creates a seamless payment system between data providers and consumers across multiple blockchains.

2. Staking and Rewards: By staking SYNT tokens, you can participate in securing the network. Staking helps to ensure the network's security and integrity, and in return, you earn rewards. This also aligns your interests with the network's success.

3. Governance: Holding SYNT tokens gives you voting power on protocol upgrades, feature prioritization, and resource allocation. This governance mechanism allows the community to influence the future direction of the Synternet protocol.

4. Trade SYNT on KuCoin: Trade Synternet Token against other cryptos listed on the KuCoin Spot Market to make the most of changing market conditions, but only after you DYOR. You can buy, sell, or HODL $SYNT in your portfolio based on your investment goals and risk tolerance.

The maximum supply of SYNT tokens is set at 2.5 billion. This cap ensures security and accommodates potential scenarios where tokens from the Cosmos chain might be transferred back to Ethereum.

At the initial stage on the Cosmos mainnet, the circulating supply is expected to be less than 1 billion SYNT tokens. The goal is to maintain this supply level through token burns and buybacks.

A portion of SYNT tokens is burned whenever they are used for data transactions. This reduces the total token supply over time, aligning with the network's growth.