SINSO Development Plan for 2023 (Q2)

SINSO
5 min readMar 10, 2023

Dear investors and SINSO Fam,

— About the development of SINSO mining network

After nearly 18 months of effort, we have successfully launched SINSO on the XT.COM exchange. Our next objective is to create the ecological cycle of tokens as soon as possible, so that miners can continuously join as the distributed cache network is built. The facts proved that we made the proper decision. Our overall node count has increased since being online to 3271 stable nodes, and the staked nodes have reached 2218 (as of March 10, 2023). More quickly than we anticipated, the miner population has been growing, though the Mainnet has only been operational for one month.

According to the return on input calculations made by miners, a VPS costs 35 USD per month, and each node produces 4.8 SINSO per day. Given the current token price of 1U, the monthly income will be 144 USD, and the monthly net income of each node is 109 USD (with the VPS server fee subtracted), which is very miner-friendly and enticing. With a deflationary circulation on the market, it is foreseeable that the token price will rise steadily. If the number of staked nodes reaches 4000+, then the token price will be at least 2U. In short, SINSO Mainnet is entirely based on our economic model, which is incredibly miner-friendly in practice.

We are developing computing power distributors and enterprise miners. We also hope that investors and community members can participate in the mining ecosystem. Our minimum objective is to have at least 4000 staked nodes by the end of the next quarter. By then, a potent, distributed cache network will be created by these nodes. With the launch of Filecoin Virtual Machine (FVM) on March 14, the practitioners in the distributed storage racetrack will experience extra empowerment. Recently, Protocol Labs, the founding team of Filecoin, which is also one of our investors, has reached out. In contact with their marketing team and coordinators of FIL.VC, we will be supported in our promotion. Our primary objective in the first half of this year will be to coordinate the development of SINSO and FVM.

— About New Listing Plans

We have seen a consistent rise in real trading volume on the XT exchange in recent days, making the automatic trading robot we set before February 25th unnecessary. The great traffic from the free market will start another critical period for us. By March 31, the successive releases of US economic data and the Federal Reserve’s plan to raise interest rates will have an impact on how the cryptocurrency market performs over the ensuing three months. Everyone has noticed that the comments of Federal Reserve Chairman Powell made the crypto market full of concerns, so the market is still down.

Yet, there are still some hopes for the crypto sector this year due to the SEC relaxing its ETF rules on Bitcoin and Hong Kong’s supportive stance toward the business. Bearish air will prevail throughout this year, but a brief period of modest bullish performance can not be ruled out. We’ll decide on the second exchange in April if the crypto market continues to rise in April, and we aim to launch on the second exchange in late June or early July.

According to the community survey conducted a few days ago, our user group is distributed all over the world. The graph below provides some reference for user distribution but may not be accurate.

The most frequently used exchanges by our users are also the most suggested exchanges for the upcoming listings:

Crypto.com, Gate.io, and Bybit.com make up a sizable share of the exchanges utilized by our users; this is also the focus of our efforts over the next few months. Currently, SINSO’s trading volume on XT.com is rising, but it is far from enough. Increased trade volume and depth will strengthen our negotiating position in the next round of negotiations for strategic listings on first-line exchanges. In two to three years, SINSO team plans to give investors a 100-fold return.

We are hoping that investors can help us out more, offer us advice, and connect us with useful exchange resources, which will undoubtedly lay a strong foundation for strengthening our partnership with Binance Labs. We will further expand the community and develop our products to make SINSO qualify as a Binance Labs project. We’re actively getting ready for it.

— About R&D and Creation of Token Ecological Scenarios

By the end of this month, SINSO DataLand will release an updated version that further integrates ChatGPT into the cryptocurrency realm and transforms it into a daily tool that we can all utilize. The distributed storage and AIGC have demonstrated a lot of convergence, and ChatGPT is such a fantastic tool that we should use it for at least 30 minutes each day. DataLand will be the space where we build gameplay using SINSO tokens in conjunction with ChatGpt. DataLand has attested to the feasibility and popularity of Data-oriented NFTs. By the end of March, we’ll start a series of promotions, and we’ll keep enhancing related efforts throughout April.

https://dataland.sinso.io/login

With the launch of FVM, we will be building new applications and middleware in data programmability, which will be the focus of our development in April. We will collaborate with Protocol Labs, and they are aware of our activities. Additionally, we will perform extensive cooperation and promotion with MZ.DAO while we are in Tokyo, Japan, for the Web3 conference in June of this year. To astound the Asian community, we will have comprehensive promotion plans for advertising in Japan, Hong Kong, and other key markets in Asia.

— About SINSO Ecological Partners

Early in February of this year, CZ introduced the decentralized storage solution “BNB Greenfield”. As a BSC chain project, SINSO will concentrate on the ecological integration of BNB Greenfield and BSC and keep adding ecological partners. Up to now, SINSO Ecosystem has gathered over 50 partners.

In any case, we are looking forward to your positive response and help. In 2023 Q2, we will do even better!

SINSO TEAM

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SINSO

Web3.0 Infrastructure Simplifying Decentralized HotData Cache and Data Governance