CyberConnect (CYBER) is a decentralized social network protocol that allows developers to create social applications empowering users to own their digital identity, content, connections, and interactions.
It aims to challenge the status quo of web2 social platforms that exploit user data and manipulate content, communities, and users for their own financial interests.
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Origins and Features of CyberConnect
CyberConnect was founded in 2020 by Wilson Wei, a serial entrepreneur and former co-founder of Lino Network, a decentralized video platform. Wei envisioned a web3 social network that would offer users ultimate control over their digital lives free from centralized and biased tech.
CyberConnect has three core components:
- CyberAccount: an ERC-4337-compatible multi-chain account system that provides seedless and gasless user onboarding
- CyberGraph: a censorship-resistant smart contract to record users’ content and social connections, with built-in monetization tools
- CyberNetwork: a gas-efficient and scalable L2 network to bring web3 social to the world
CyberConnect also introduces two novel concepts for web3 social:
- CyberID: an ERC-721 token that represents a unique handle for a user’s account in the CyberConnect social network
- W3ST: a non-transferrable NFT with an on-chain issuer reference that acts as a digitally verifiable indicator of a user’s status in their community
CYBER Tokenomics and Governance
CYBER is the native utility and governance token of CyberConnect. It has a total supply of 100 million tokens and a circulating supply of 11 million tokens. CYBER can be used for the following functions:
- Governance: CYBER token holders have voting power and can delegate their voting power to others. Protocol improvements are decided based on voting power.
- Payment for CyberID: CYBER can be used for payment when purchasing CyberID.
- CyberAccount gas token: CYBER can be used as the price meter and means of payment for gas fees for all transactions within CyberAccount across EVM-compatible chains.
CyberConnect has raised $25 million from two rounds of private token sales and $5.4 million from public sale on CoinList. Some of its notable backers include Animoca Brands, Sky9 Capital, Binance Labs, Hashed, NGC Ventures, CMS Holdings, and Spartan Group.
Why Did CyberConnect Surge 200% in 10 Days?
CyberConnect has experienced a massive price rally in the past 10 days, surging from around $2.5 on August 23rd to over $8 on September 1st, according to CoinMarketCap. This represents a 200% increase in its value, making it one of the best-performing tokens in the crypto market.
There are several possible factors that contributed to this impressive growth, such as:
- Listing on Binance: On August 23rd, Binance announced that it would list CYBER on its platform, giving it exposure to millions of users and increasing its liquidity and trading volume.
- Launchpool campaign: On August 2nd, Binance launched a Launchpool campaign for CYBER, allowing users to stake their BNB, BUSD, or DOT tokens to earn CYBER rewards. The campaign lasted for 30 days and distributed 3 million CYBER tokens to participants.
- Partnership with Mask Network: On August 25th, CyberConnect announced a strategic partnership with Mask Network, a web3 portal that allows users to access decentralized applications on social media platforms. The partnership will enable users to access CyberConnect’s social graph protocol through Mask Network’s browser extension.
- Community engagement: CyberConnect has been actively engaging with its community through various channels, such as Twitter, Telegram, Discord, Medium, and Reddit. It has also launched several initiatives to reward its supporters, such as CyberTrek, a gamified referral program that allows users to earn CYBER tokens by inviting friends to join CyberConnect.
CyberConnect Price Prediction & What’s Next ?
Coming to channel support, if survived channel support then can bounce immediately, i case of failure will break down and bleed violently.
CyberConnect has ambitious plans for the future, as it aims to become the leading web3 social network protocol in the crypto space. Some of its upcoming milestones include:
- Launching CyberNetwork: CyberConnect plans to launch its own L2 network based on Optimism Rollup technology by Q4 2021. This will enable faster and cheaper transactions for Web3 social applications built on CyberConnect.
- Expanding its ecosystem: CyberConnect plans to onboard more developers and projects to its protocol by providing them with easy-to-use tools and SDKs. It also plans to integrate with more platforms and protocols in the web3 space, such as IPFS, Ceramic, The Graph, Uniswap, Aave, Compound, MakerDAO, Chainlink, Polygon, Arbitrum, and more.
- Growing its community: CyberConnect plans to grow its community by launching more campaigns, events, and programs to educate, incentivize, and empower its users. It also plans to establish a CyberDAO to decentralize its governance and decision-making process.
Future Outlook for CyberConnect
CyberConnect is a promising project that aims to revolutionize the social network industry by leveraging the power of Web3 and blockchain technology. It has a strong team, a solid vision, a loyal community, and a growing ecosystem. It also has a competitive edge over its rivals, as it offers a unique solution that combines multi-chain account abstraction, censorship-resistant social graph, and scalable L2 network.
However, CyberConnect also faces some challenges and risks, such as:
- Regulatory uncertainty: As web3 social networks are still a nascent and unregulated field, CyberConnect may encounter legal and regulatory hurdles in different jurisdictions that could affect its operations and growth.
- Technical complexity: As CyberConnect relies on cutting-edge technologies that are still under development and testing, it may encounter technical issues, bugs, or vulnerabilities that could compromise its security and performance.
- Market volatility: As CYBER is a highly speculative asset that is subject to market fluctuations and manipulation, it may experience high volatility and price swings that could affect its value and adoption.
Therefore, CyberConnect is not a project for the faint-hearted but rather for those who are willing to take risks and embrace innovation. It is a project that has the potential to disrupt the social network industry and create a more fair, open, and democratic Web3 social experience for users.
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