Privasea Private Sale Details

Synapse Network
6 min readMar 11, 2024

Hello everyone and welcome to Synapse’s latest project announcement.

We are proud to announce our cooperation with Privasea, an innovative startup focused on building decentralized data processing infrastructures.

A project that combines Infrastructure building and the already known DEPINs, while also adding privacy AI tech on top of the whole.

This combination is a tasty treat for all crypto market investors, and we believe it to be one of the reasons why Privasea was also noticed by Binance Labs, which was one of the first investors in this project and continues to support them in their development to this day.

Apart from Binance Labs, a large group of weighty investors gathered around the project, following their implementation of the above-mentioned tech, after noticing not only the brilliance behind the team leading Privasea but also their expertise in actually achieving their goals with this project, in a display of well-rounded competence that many others fail to achieve.

The company’s core mission focuses on providing efficient and user-friendly Fully Homomorphic Encryption (FHE) solutions, each of which is specifically tailored to the needs of users in web2 and web3 environments, with a particular focus on machine learning (ML) use cases.

Having seen the market trajectory at the time of writing, we are even happier to show you what this particular team has to offer, and although we know that creating such technically complex infrastructure is a long process, especially with a project that aims this high with their standards we believe that this green wave, alongside Binance Labs support, will give Privasea the kickstart they need to reach the market capillarization they can achieve with their solutions.

We want to offer you their Private round sale, but due to the rather tight schedule enforced by the fast-moving market conditions, we will have to host an express round this time.

We are always vigilant and every team that turns to us for support in the initial phase of development is repeatedly checked by our experts and analyzed in detail by our advisors, and if it ever turns out that something is missing from their side, it joins the 98% of other projects that we reject.

And when finally Privasea appeared on our radar, we saw BLabs’ stamp of approval, their excellent resume, the solidity of their current solutions, and their final objective, we knew we had another amazing opportunity for our users, ready to be taken and impressively refined by some of the most talented people in the space.

When we analyzed their documents, we saw Privasea as a breath of fresh air, a clean breath in a stale environment, and something that many cryptocurrency users, especially those fond of those more technical projects, will be deeply interested in.

That’s why we’ve taken up the challenge to help them reach their full potential during a period of incredibly unpredictable market conditions, and we’re pleased to present this project as the latest addition to our long list of startups.

We believe that just like our team, our community will also be happy with what this project can offer. If there is any doubt about its industry experience, we are happy to say that every member of Privasea has high references and a fully public profile that you can freely peruse.

Below you’ll find everything you need to know to participate in the private sale round on the Synapse Network launcher.

We’ll be keeping our users updated on our next steps and all new possible partnerships over the coming weeks, so stay tuned to all of our announcements and media channels to be ready to take part in our next launches.

Timelines:

  • 11.03.2024 7 PM UTC — Whitelist start (mandatory for non-zkSNP stakers): https://gleam.io/jAebV/synapse-network-privasea-private-sale
  • 11.03.2024 7 PM UTC — zkSNP stakers can start to register their interest in the guaranteed allocation
  • 12.03.2024 12 PM UTC — End of time for Whitelist and for interest registration
  • 12.03.2024 7 PM UTC — Whitelist Announcement, publication of allocation size, KYC for Whitelisted start
  • 14.03.2024 9 AM UTC — Sale Start
  • 15.03.2024 9 AM UTC — Sale End
  • 15.03.2024 10:30 AM UTC — FCFS Sale for zkSNP stakers
  • 15.03.2024 11:30 AM UTC — FCFS Sale for everyone (KYC after the sale)
  • 15.03.2024 11:30 PM UTC — FCFS Sale ending
  • 16.03.2024 — Return of overallocated unused funds

Sale details:

  • Round — Private
  • Price per token — 0.08$
  • Platform allocation — 50 000$
  • Gleam competition allocation — 100$
  • Gleam competition — number of winners — 50
  • Vesting — 7,5% TGE -> 3 months cliff -> 12,5% release -> then linear for 15 months

What is the Privasea?

Before going further with the presentation let’s go a bit more in-depth into what Privasea actually is: an innovative startup dedicated to constructing a decentralized privacy computing infrastructure.

As we already stated, the company’s primary mission is to provide efficient and user-friendly fully homomorphic encryption (FHE) solutions.

These solutions are not only tailor-made for the needs of each user, but the technology they use also provides unparalleled security, since they can seamlessly exchange data without the need to first decrypt them, cutting out one of the major pain points of data security by the roots.

Market Competitiveness of Privasea

  • Data Value Circulation

Instead of sharing the raw data, the Privasea system facilitates data value circulation. Fully Homomorphic Encryption (FHE) enables the secure sharing of encrypted data calculation results within the network while ensuring data ownership remains with the users.

  • Easy Deployment

All of their solutions can be seamlessly integrated into various Layer 1 (L1) and Layer 2 (L2) blockchains or infrastructure ecosystems like Chainlink, Greenfield, or Filecoin. The incentive tokenomics aspect can be adapted to different chains for smooth deployment.

  • Lower Gas Fees through Decentralized Computation Power

By leveraging decentralized computation power, Privasea will be able to significantly reduce gas fees for users when they submit FHE machine-learning assignments to their network. Miners are incentivized through long-term value on the token aspect rather than direct GPU cycle cost calculations.

Community Contributions and Traction

Privaseea embarked on the path of open-sourcing their FHE library, making it accessible to a wider community. Notably, their efforts garnered recognition from the OpenFHE team, leading to their invitation for a merge and contributing their innovations to their open-source repository.

Their AI Network builds on BNB Greenfield as an SP, merging privacy-preserving tech with innovative blockchain storage.

Thanks to Privasea, users will be able to enjoy unparalleled data security and control, while at the same time looking at the latest Web3 evolution take place in front of their eyes.

And last but not least, Privasea offers a privacy protection infrastructure specifically for TON, of course, also based on Fully Homomorphic Encryption.

To be more precise it incorporates a built-in biometrics-based FHE authentication model to assist Telegram users in verifying their identities securely, granting access to specific services, and giving one more layer of security to all TON users,

On our part, we thoroughly reviewed the project, team, roadmap, and tokenomics and had many fruitful meetings — we believe in this project. If you would like to learn more about it, which we encourage you to do, please check out our research page.

And visit their website: Privasea

For more information:

Privasea Discord

Privasea Telegram

Privasea X (Previously Twitter)

And always remember to not invest before you DYOR about the project!

What does the investment process look like?

There are two options for this:

- having tickets for the platform (guaranteed allocation).

- winning the Gleam competition, which is open to everyone. Here 10% of the investment pool is allocated to the winners. There is no overallocation here — it is reserved for our stakers.

For both options, you need to pass the KYC process.

We give everyone the opportunity to reach the required tier for investment until the end of the registration. Everyone has to enter the platform and express interest in participating in the investment before this date.

How can you invest?

You will be able to invest in 15 networks (more networks to come soon):

  • zkSync
  • Ethereum
  • Binance Smart Chain
  • Polygon (Matic)
  • Avalanche
  • xDAI
  • KCC
  • Fantom
  • OEC
  • Arbitrum
  • Harmony
  • Moonriver
  • Cronos
  • IoTeX
  • Optimism

You will be able to invest with multiple stablecoins:

  • USDC
  • USDT
  • fUSD

About Synapse Network

Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto markets. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.

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