"Cool Blockchain Vendor" Synereo Seeks to Transform Attention Economy with Native Token, AMP

Blockchain platform Synereo, named a Gartner technology research firm “Cool Blockchain vendor,” recently moved from alpha to beta.

Synereo’s native digital currency, AMP, is unique in that the blockchain platform has burned many of its own coins. Initially, Snyereo looked to create two billion coins while crowdfunding itself through crowdsales or selling AMPs privately to investors. The first crowdsale in March 2015 as 45 million AMP’s were sold. 320 million AMPs unsold were burned. In September 2016, 50% of all existing AMP’s were burned.

The first price history begins in December 2015. It would reach a $1 million dollar market capitalization by January 2016. By March 28, Synereo’s market capitalization skyrocketed to over $33,000,000. This parabolic period would be shortlived, as the price of Synereo would bottom out around a $6 million market capitalization. At its peak, AMP’s were worth 18 cents USD. After this peak, at its bottom, just .03 cents.

The good news at that time for those who had purchased Synereo’s AMP token - long before ICO’s were making headlines - was that AMP would rebound within the year. By August 23, 2016, the price of AMP’s were 23 cents USD and the market capitalization had reached more than 14,600,000.

The price receded down to 09 cents by October 29 the same year and then fell off a cliff: first down to 11 cents by October 28 and an approximate $6,000,000 market capitalization. Then, by December 4, the price had fallen to just over 50 cents - a $3,850,000 market capitalization.

Things bottomed out between December 2016 and late March 2017, when Synereo began to increase in price alongside an across-the-board price increase in cryptographic assets. On May 24, the price made its most recent peak at 33 cents and a 27,000,000 market capitalization. It then corrected, and swiftly made its way back up to 31 cents - a $25,200,000 market capitalization.

Synereo is developing a “decentralized, next-generation social network and content platform,” according to the developers. Synereo’s Qrator is a tool enabling users to monetize their original content, sharing quality content and discovering quality content.

Synereo developed a core blockchain, the proof-of-stake RChain, and its beta version of a social network is scheduled to be launched in 2017. Synereo’s plans to implement smart contracts, decentralized applications and decentralized storage operations.

“Synereo is designing a platform with economic models that are sybil attack resistant, discouraging users from investing in bot networks as there would be little to no financial gains from doing so,” Synereo said. “The reward mechanisms that would be implemented encourage early users to refer their friends to join the growing Synereo community and benefit from creating and curating high quality content, knowing that if they are connected indirectly to a bot field, they are still going to benefit from providing value to their communities.”

“Synereo is designing a platform with economic models that are sybil attack resistant, discouraging users from investing in bot networks as there would be little to no financial gains from doing so,” Synereo said. “The reward mechanisms that would be implemented encourage early users to refer their friends to join the growing Synereo community and benefit from creating and curating high quality content, knowing that if they are connected indirectly to a bot field, they are still going to benefit from providing value to their communities.”

Image: Synereo