Synternet is a decentralized, open-source blockchain platform with $SYNT as the project’s native token. Notably, Synternet enables smooth data sharing and connectivity between several blockchains.

The platform’s architecture comprises a data layer protocol (DLP) and autonomous economic agents (AEAs). Accordingly, the DLP handles data transfer and manipulation while the AEAs enable interconnectivity within blockchains and execute smart contracts.

In addition, the project employs a Proof-of-Stake (PoS) consensus layer to validate transactions on the network. Noteworthy is that Synternet has partnered with top blockchain firms such as Cosmos, Chainlink, Solana and Polkadot

Next Gem: Synternet ($SYNT) Tokens

$SYNT is the native token of the Synternet ecosystem. $SYNT tokens have many use cases such as payment for products and services like data layer transactions on the Synternet blockchain.

Moreover, the token grants holders governance rights, allowing them to decide on key actions of the project. Also, $SYNT holders can submit proposals for other token holders to vote on. In addition, holders can stake their tokens to secure Synternet while validating transactions.

Tokenomics

Total Supply: 2.5 billion $SYNT tokens (ERC20)

Circulating Supply: About 830 million $SYNT tokens

Reserved Tokens: Ecosystem development: 30%; Team and Advisors: 20%; Investors: 15%; Partnerships and Collaborations: 10%; Community and Marketing: 5%

Token Release Schedule: Investors’ allocated funds will be released quarterly over 2 years. Notedly, investors can sell or hold their tokens after they’re unlocked. Unclaimed rewards will become available to other project participants.

Also, the staking mechanism is a PoS consensus, with staking rewards ranging from 5 to 10% annual percentage yield (APY). Noted: Users can assign tokens to validators on the network.

$SYNT token’s annual inflation rate is 5% while token burning acts as a deflationary mechanism to reduce the token’s supply.

Source: Synternet

Synternet Use Cases

It is noteworthy that the project allows seamless data transfer between several DeFi protocols. These include yield farming, liquidity provision and digital asset trading in a virtual goods marketplace.

Moreover, Synternet has potential uses in the novel concept of GameFi. Leveraging its platform, developers can build engaging, blockchain-based games.