Synereo Destroys Half its AMP Tokens Ahead of Crowdsale
Distributed app platform Synereo announced that it has destroyed 50% of its native currency, AMP, ahead of a crowdsale, worth roughly $146,221,787 USD on the market. Second Synereo Crowdsale Starting Soon. The move comes just before Synereo’s second round of fundraising in a three-stage crowdsale starting 19 September. The Israeli company originally intended to keep the 731,108,937 now-burned AMP tokens as part of its long-term budgeting strategy. In a statement, Synereo CEO Dor Konforty said it was due to the proof-of-stake mechanism that secures the network. Keeping such a large share in....
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Synereo, the startup behind its namesake decentralized blockchain-based social network has burnt half its holdings of pre-mined AMPs, its native token cryptocurrency. Half of all existing AMPs have been destroyed by Tel-Aviv based blockchain startup Synereo in a move to relinquish its control of over half of the blockchain’s native currency. An aggregated amount of 731,108,937 AMPs were destroyed on Saturday, September 17th. They were held in several cryptographic wallets controlled by Synereo. A majority of those destroyed – nearly 400 million AMPs – belonged to the the company’s Future....
Synereo is back in the spotlight with another crowdsale, which is being coupled with the release of the alpha model of their decentralized social media platform. The crowdsale has been much covered, and is really nothing new, but their social network and the technology behind it still appear to be widely misunderstood. This is the first of a two-article series designed to change that. Synereo has been around for a little while, and raised the equivalent of $126,000 in their initial AMP crowdsale last year. Since then, they’ve been relatively quiet, and I was surprised to hear they plan to....
Synereo, a new social platform with ambitions to “decentralize the web,” has launched its second crowdsale, raising almost $2 million USD in the first six hours. $2 Million Raised and Counting. The Tel-Aviv-based startup aims to be more than just a decentralized version of Facebook. Synereo said its platform allows anyone to develop, run and build their....
“With current social networks, you are not the client. You are the product being sold.” Synereo opened their official announcement with the above messaging, a bold statement about the current state of social media. Built to be decentralized, Synereo wants to change social networking for the better, rewarding their user base along the way. Synereo approaches ads on social media quite differently than others currently in the market. Instead of adhering to the traditional model of unsolicited advertisements, Synereo believes user attention is worth paying for.
Synereo, which calls itself the world's first fully-decentralized social network, recently launched a crowdfunding campaign to raise 4 700 bitcoins ($1.2 million). The goal is to have the technology and resources to build a decentralized network and provide a better social network experience. Synereo will reward contributors in AMPs - the network's own currency which can be used to amplify messages within the social network. The crowdsale began March 23 and will end on April 22. "The $1.2 million will be what allows us to create a fully distributed application that's up to the standards of....