While checking out Santiment (SanR) a few days back, I learned that it is migrating to a new blockchain and is currently on Testnet mode. It is called the SanR App 2.0 with the tagline "Build and monetize your signaling reputation."¹
In the near future, we will introduce a new version of SanR.app which will allow you to directly open signals from various exchanges and monetize them using access mechanics via keys.²
This statement is interesting and it looks like people can have another opportunity to make money from their signals. While I have no idea how it is going to work, I'm quite sure those who are keen on monetizing their signals will be happy about this update.
Accordingly, the new app will be by invitation only and the current (old app) will be closed. The good thing is that the users' progress or reputation won't be lost because they will be carried over or transferred to the new application.
Users who want to be invited to the new SanR app must join the waitlist by filling in a Google Form providing their email and the wallet address used in their SanR account. Per the information, they will be sent an invitation code at least one week before the new app launches.
Furthermore, the staking mechanics will be paused on the current app and prior to the relaunch, all those who have stakes will have the chance to launch their validator nodes, or the option to delegate their SAN tokens to any validator of their choice.³
SanR.Network
Checking out the new site, it appears that the upcoming version of the SanR app will be powered by zk stack, "a modular, open-source framework designed to build custom ZK-powered Layer 2 and Layer 3 solutions (Hyperchains) on the Ethereum blockchain. The zk Stack offers two key features - sovereignty with seamless connectivity."⁴
Apparently, there are perks on the new app:
Monetization opportunity
In the current app, users who rank on the leaderboard are rewarded with SAN. In SanR App 2.0, users can share their market signals, insights, dashboards, and research and monetize them.⁵
There is no further information on how it is done but let's hope to learn about them sooner.
One can secure his reputation
Users who have built their reputation on the current app will have the advantage. They can further "showcase their skills on the new one and make sure they get the recognition they deserve and establish a respected impact."⁶
Full Ownership of Data
Users will keep every byte of their data and every bit of intellectual property created while in the network - all 100% theirs.⁷
Transparent platform
Users "can discover new potential and the platform guarantees fairness and gives them the chance for success."⁸
Thoughts
The idea of monetizing one's market signals can be appealing to those who are good at giving them and who have proven their strength in that area.
I have had no success in finding more detailed information on the new version but will just wait until it comes out. I am personally looking forward to it and hopefully be amongst those who will get an invite. It will be awesome to experience it first-hand when it launches.
For infotainment only.
Lead image edited on Canva. Photo and Logo from SanR.Network. No copyright infringement intended. 30112023/12:02ph