A few days back, I wrote about Sei Blockchain and how to farm its token, SEI on Binance. Today, it's time to share the 37th project which is currently live on the exchange's Launchpool.
CYBER, the governance token for CyberConnect (a Web 3 social network) can be earned by eligible users through staking their assets in any of the supported pools.
Launchpool Details
Token Rewards: 3 million CYBER (3% of total token supply)
Initial Circulating Supply: 11,038,000 CYBER (11.04% of the total token supply)
Smart Contract Addresses: Ethereum, BNB Smart Chain, Optimism
Farming Period: It started 2nd of August and will last until 31th August, 23:59 UTC.
It is to note that only verified users and from eligible countries or regions can participate in farming CYBER.
Supported Pools
Staking separately in any of the following pools allows users to earn or farm CYBER. Rewards are updated every hour and can be claimed anytime. Any unclaimed rewards are automatically credited to the user's Spot Wallet when the farming period ends.
Likewise, users can unstake their assets anytime from any of the pools without any restrictions.
👉BNB Pool
Stake BNB and earn CYBER. A total of 2.4 million CYBER tokens (80% of total Launchpool rewards) are allocated for this pool or 80,000 per day. BNB kept on the BNB Vault automatically earns CYBER too which are credited to the user's Spot Wallet each day.
The maximum hourly reward for each user is 333.33 CYBER.
At the time of this writing, there's 4,749,062 BNB already staked.
👉TUSD Pool
- 450k CYBER in rewards (15%) or 15k per day.
- Hourly hard cap per user is 62.50 CYBER
- 246,926,640 TUSD are staked to this pool
👉FDUSD Pool
- Maximum hourly reward for each user is 20.83 CYBER.
- A total of 72,231,735 FDUSD has been staked on this pool to date.
Token Listing
Binance will list CYBER with the Seed Tag (which means the token may exhibit higher volatility and risks) in Spot Trading on the 15th of August 12:00 UTC with the following pairs:
- CYBER/BTC
- CYBER/USDT
- CYBER/BNB
[Source: Binance]
Introduction to CyberConnect
CyberConnect, founded in 2021 is a web3 social network that enables developers to create social applications empowering users to own their digital identity, content, connections, and monetization channels.¹
In simple terms, the protocol allows its users to control their social identities, contents, and connections in a social network. It is EVM-compatible so it can be used on the Ethereum network. The protocol provides a robust verification infrastructure that allows any third party to verify external accounts (e.g. Twitter, Discord) associated with the org account.
Messari, Rarible, 1inch, and BNB Chain, along with 2,500 projects, and 1.2M users and creators are building long-lasting connections through apps built on CyberConnect.²
Link3 (a web3 social network to build and discover new communities) is the biggest DApp within CyberConnect by user activity.
CyberConnect ecosystem partners include Dodo, Binance Labs, Element, Singularity DAO, Sui Global and many others. Check here for more.
Key Features
CyberAccount
A unique identifier that enables users to access different Web3 applications using a single account (no need to create multiple accounts for each supported chain).³
Also with CyberAccount, users can pay gas using CYBER on any supported chain to complete transaction on another, thereby "streamlining user interactions and enabling frictionless cross-chain transactions."⁴
Supported chains include Polygon, Linea, Optimism, and Base. It will be deployed on Arbitrum and opBNB on 21st August and 4th September, respectively.
CyberGraph
A censorship-resistant smart contract that is designed to link user's identities (CyberAccounts) to their content and social connections and enables the recording of that social data onto multiple EVM-compatible blockchains.⁵
The feature comes with built-in monetization tools, easily monetizing users’ interactions and content.⁶
CyberID
This is an ERC-721 token used as the user's handle within the platform. "Similar to Web2 social media platforms, this ensures that users have a unique handle within the Web3 ecosystem."⁷
It's like an Instagram or Twitter X handle but it isn't free. One have to pay (recurring) and keep it active or it will be auctioned to another user.⁸
Accordingly, those registered CyberProfiles in previous CyberConnect version (V2) will soon be able to upgrade to CyberIDs.
W3ST(Web3StatusToken)
Pronounced as West, this is a non-transferrable NFT (SBT) with "on-chain issuer reference that acts as a digitally verifiable indicator of a user’s status in their community."⁹
CYBER
This is the governance token for CyberConnect
Ticker: CYBER
Total Maximum Supply: 100 million
Token Type: ERC-20, BEP-20
25,120,000 CYBER worth $25 million) sold in two rounds of private sales
$5,400,000 raised from public sale on CoinList (3 million CYBER)
Token Distribution & Vesting
Token Utility
Governance: CYBER token holders have voting power and can delegate them to others to vote on protocol improvements.
Pay for CyberID: The currency used when purchasing CyberID.
CyberAccount gas token: Used as the price meter and as gas fees for all transactions within CyberAccount across EVM-compatible chains.
More CYBER use cases will be introduced by the CyberDAO.
Summary (TL;DR)
CYBER, the native token of CyberConnect can be farmed on Binance Launchpool until the end of this month. It will be listed for trading on the exchange on 15th August.
CyberConnect is a Web3 social network that allows developers to build applications that enable users to create their own digital identities, connections and monetize them too.
The protocol has a feature called CyberAccount which users can create and use across different chains. Supported chains to date include Polygon, Linea, Optimism, Base and soon, Arbitrum and opBNB.
This is quite interesting, don't you think? Having one account that you can use across multiple networks and being able to pay gas fees using CYBER in any of them.
There's an event called CyberTrek currently ongoing and runs until 24th September with $1.8M in rewards.
[For infotainment only. Info Sources: CyberConnect/Binance/Bitrue/Link3/CyberConnect Docs]
Lead photo created on Canva. Logo/s and images from CyberConnect. No copyright infringement intended.13082023/09:30ph