Since early November, everyone, and we mean everyone, has been asking us: “When is your crowdsale?”. We had to smile, demur and defer because we wanted to line up everything just so. Now, though, the moment is upon us. We are pleased to announce the
Synereo crowdsale begins
23 March 2015, 8:00 PM GMT
We’re selling AMP tokens, Synereo’s information flow currency.
Why Even Build Synereo?
Because social media must be decentralized.
As long as our social media networks continue to be moderated by central authorities like Facebook and Google, users cannot be guaranteed the privacy of their identity and personal information. Perhaps worse, their experience of the social web is always geared towards one thing: Monetization.
Because of that, the success or failure of mainstream social networks is measured by one thing: revenue.
Per user. Per month. Per platform.
This changes with Synereo, the world’s first fully-decentralized social network.
We’re building a network owned by you and controlled by no one. Users connect directly to one another, via secure cryptographic channels that prevent governments, spooks, and marketing agencies from eavesdropping without your consent.
Synereo is being built to provide the absolute best social experience online, treating people as its clients rather than as products. Synereo aims to help you connect with people and things you care about in a meaningful way.
Synereo is the change we want to see in the world. We are finally at a point where we, as a society, have the technology and resources to build a network that doesn’t depend on any central entity dictating to it.
How is your money being put to work?
We’re glad you asked! You may be surprised to know this, but we’ve been working on the Synereo tech stack for more than 4 years. Now, we need to package it up so that with just a few button clicks, the non-technorati can get it up and running. One way to think about this kind of task is to compare it to Gmail.
When Gmail launched their brilliant viral campaign on April 1st 2004, all people had to do was log in to a website. Behind the scenes, on Google’s servers, teams of engineers were deploying and monitoring code and supporting services. Synereo, however, is decentralized. Anyone and everyone can stand up a Synereo node. So, we have to make it bullet proof and fool proof and fool-with-a-bullet proof.
Adoption is Not Just About Technology
Synereo’s success as a platform and service hinges on not just its backend but the UI and UX of its client. We are committed to making the user experience what it should be: friendly, responsive, and compelling. UI bits that look good on mobile and desktop – that takes focused application of skill, day in day out.
All of this effort takes quality developer time, quality designer time, quality assurance time: in short, it takes the love of committed, capable and dedicated people. By buying AMPs, you are investing in the Synereo team as well as its technology.
As we get further down the road, we will make very granular views of our tasks and their resource estimates visible to the community. This is part of our commitment to transparency. It also means that if someone sees a better way, one that can get more done with fewer resources, or give a better chance of ensuring we meet a requirement, they can say so. It also allows for a much better bug bounty process.
In summary, when you buy AMPs, you’re getting early, exclusive access to shiny new Synereo bits. You get a team focused on delivering you those bits and helping you use them. And, you’re joining a community of fellow human beings who want to be the change they wish to see in the net.
You are welcome to learn more about Synereo and read the whitepaper:
The crowdsale starts on March 23rd, 8:00 PM GMT.
The Synereo crowdsale is supervised by the Omni Foundation. The Omni Foundation has access to all transactional information, with their executives serving in the role of trustees for the AMP tokens. Synereo has no access to these funds without their approval. See our Asset Policies document for more information.
We are taking great care to secure and safeguard all funds for this crowdsale and beyond.
How many AMPs are sold in this crowdsale?
18.5% of all initially created AMPs will be sold.
How many AMPs are there? Can more be created?
One Billion (1,000,000,000) AMPs will be created initially.
Five percent will be created yearly to reward people as part of the Proof of Social Contribution (PoSC) mechanism.
How can I buy AMPs?
The crowdsale will go live at https://crowdsale.synereo.com.
You’ll be able to send in BTC at any amount (no dust, please!) and wire transfer us fiat at sums equaling $30 or more.
Currencies used will be measured against USD at the time of transfer to determine how many AMPs have been purchased.
What is the rate of USD/AMP?
1 USD will buy 154 AMPs.
Will the rate of USD/AMP change throughout the sale?
Each AMP sold in our crowdsale will be more expensive than the one preceding it. As more people contribute and as the crowdsale cap gets closer, the price of AMPs will increase.
This means that people who believe in Synereo and who choose to support it sooner will enjoy a greater AMP reward.
See the exact details here.
How are other AMPs distributed?
The AMP distribution logic is designed to facilitate the development and growth of the Synereo social network through years to come.
- 18.5% are sold in the initial crowdsale
- 10% will be used to compensate users as they join the network, invite others, and contribute to it
- 7.5% will be awarded to content creators who begin operating on the network. We already have a few major musicians waiting to join and distribute their art on Synereo!
- 10% are awarded to the founders of Synereo, vested over a period of 30 months
- 11.5% are kept for bounties, awarded to contributors and developers
- 42.5% will be kept for future funding rounds. We aim to have two more, spaced 1-1.5 years apart, each providing the necessary funds for the next leg of the project.
To protect the market, AMPs awarded to people who join the network and to content creators will be distributed over a long period of time. This will allow those who are interested in using them on Synereo to easily enjoy their benefits while preventing quick dumps.
(This does not apply to AMPs bought during the crowdsale, which will be disbursed when it is concluded.)
How long will the crowdsale last?
The crowdsale will be open for 30 days or until the cap is reached.
Are there any other ways to get AMPs?
- Registering for Synereo and migrating your information from an existing social network account.
- Expanding Synereo by inviting users who register on the network and migrate to it.
- Bounties. People working to contribute to the development, deployment, and expansion of the network will receive AMP rewards for their efforts.
Third party evaluators
Wallets holding AMPs designed to be released at a later date will be locked such that an outside evaluator has to certify that the conditions for their release has been met. AMPs locked in that manner include:
- AMPs used to reward users who migrate to Synereo.
- AMPs awarded to content creators.
- AMPs kept for future funding rounds. These AMPs can only be released if and when we do another crowdsale or when accepting an investment.
- The generation of AMPs as part of the Proof of Social Contribution (PoSC) mechanism, capped at 5% per year, will also require certification by this third party.
For more details, See our Asset Policies document.
All bitcoins received will be kept in a multi-sig wallet. This protects the funds received from any one point of failure, whether theft, the loss of a key, or the inability of one holder to access the wallet.
Some of the keys will be kept by external, trusted entities.
For more details, See our Asset Policies document.
How will the sale work?
Simple! All you have to do is sign up with your email, receive a BTC address, send as many BTC as you like to it, and wait until the sale is over to receive AMPs to that address.
Make sure that you’re sending BTC from an address under your direct control; no exchanges, no Coinbase, no Circle. (Blockchain.info is fine, but you’ll have to know how to export your wallet!)
Alternatively, you can buy AMPs using any fiat currency. Mail email@example.com and we’ll give you all the details.
The first public version of Synereo will be invite-only.
People participating in the crowdsale will be granted early access to the first live version of our network. You’ll receive an invite to the email address you signed up to the crowdsale site with once we’re ready for you!
The cryptocurrency and decentralization scene is full of opportunities. We have been working on Synereo because we consider the decentralization of communications, content distribution and Social Networking to be the most important, disruptive opportunity of the BitCoin 2.0 tech wave. With Synereo we are reclaiming our identity, we are reclaiming our content and we are reclaiming our network.
We appreciate your attention and involvement. Thank you, Internet, and good night!
The Synereo Team
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