Binance, one of the world’s leading cryptocurrency exchanges, has announced its 37th project on Binance Launchpool, known as CyberConnect (CYBER). This new addition represents an ambitious stride in the field of decentralized social networking and web3 technology.
Starting August 2, 2023, users of Binance will be able to stake their BNB, TUSD, and FDUSD tokens to farm CYBER tokens over a 30-day farming period. The listing of CYBER on Binance is scheduled for August 15, 2023, with trading pairs CYBER/BTC, CYBER/USDT, and CYBER/BNB available.
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What is CyberConnect?
CyberConnect (CYBER) is a Web3 social network protocol that aims to decentralize social networking on the internet. CyberConnect V3 introduces significant upgrades to the system, empowering users and developers to maximize the potential of their digital social identities.
V3 consists of three core components: CyberAccount, a user-controlled digital identity; CyberGraph, a censorship-resistant database; and CyberNetwork, a scalable and efficient network.
CYBER Token Details and Distribution
A total supply of 100,000,000 CYBER tokens will be distributed with 3% of the total token supply (3,000,000 CYBER) allocated for Launchpool Token Rewards. The initial circulating supply is set at 11,038,000 CYBER.
Staking pools are supported as follows:
- Stake BNB: 2,400,000 CYBER in rewards (80%)
- Stake TUSD: 450,000 CYBER in rewards (15%)
- Stake FDUSD: 150,000 CYBER in rewards (5%)
Users can claim their hourly rewards at any time, and unstaking can be done instantly without delays.
Restrictions and Eligibility
Certain countries and regions will not be eligible to participate in farming CYBER, including but not limited to the United States, Belarus, Cuba, Iran, and North Korea.
Cyberconnect Key Details and Dates
- Project: CyberConnect (CYBER)
- Total Token Supply: 100,000,000 CYBER
- Launchpool Token Rewards: 3,000,000 CYBER (3% of total token supply)
- Staking Options: Binance users can stake BNB, TUSD, and FDUSD to farm CYBER tokens.
- Smart Contract Addresses: Ethereum, BNB Smart Chain, Optimism
- Trading Pairs: CYBER/BTC, CYBER/USDT, CYBER/BNB
- Listing Date: 2023-08-15
- Farming Period: 2023-08-02 to 2023-08-3
A Multi-Chain Future for Web3 Social
CyberConnect’s V3 upgrade promises to usher web3 social into a new multi-chain future. By addressing challenges in user identity, blockchain network switching, and user experience, CyberConnect aims to create a hyper-scalable web3 social experience that feels familiar to web2 users.
Key upgrades include CyberID, a unique handle for accounts in the CyberConnect network, gasless transactions, and W3ST, a non-transferrable NFT as a status symbol within communities.
CyberConnect Funding & Investors
CyberConnect, a Palo Alto-based decentralized social graph protocol focusing on identity sovereignty for mass adoption and network effects, has successfully secured a total funding amount of $25 million. The funding has come from a diverse group of 22 investors, reflecting confidence in the innovative technology CyberConnect is developing.
Some of the most recent investors include Delphi Ventures and SevenX Ventures, joining notable names such as Binance Labs, Polygon Studios, Animoca Brands, Amber Group, and Protocol Labs. This investment highlights the growing interest in decentralized technologies and showcases the potential of CyberConnect’s approach to redefining social connectivity in a Web3 environment.
FAQs
What is CyberConnect?
CyberConnect is a decentralized social graph protocol with identity sovereignty, aiming to enable mass adoption and network effects.
Who are the investors in CyberConnect?
CyberConnect has been funded by 22 investors, including Delphi Ventures, SevenX Ventures, Binance Labs, Polygon Studions, Animoca Brands, Amber Group, and Protocol Labs.
How much funding has CyberConnect received?
CyberConnect has received a total funding amount of $25 million.
How can I participate in the CYBER launchpool sale?
Participate by registering on the Binance, completing KYC procedures, and holding and staking BNB, TUSD for a specific time period.
Is there a specific wallet required to engage with CyberConnect?
The specific requirements may vary, but connecting a compatible decentralized wallet like Metamask is generally necessary.
How does CyberConnect ensure identity sovereignty?
CyberConnect’s decentralized nature allows users to have control over their identity, interacting securely and privately.
Are there any risks associated with investing in the CYBER launchpool sale?
As with any investment, there are risks. Make sure to conduct thorough research, consult with a financial advisor if needed, and ensure compliance with legal regulations in your jurisdiction.
Are you eligible for CyberConnect airdrop?
I think you are already late, if you have not participated yet. Snapshot has already been taken. However, there is going to be a season 2.
Conclusion: Should you participate in $CYBER tokensale on Binance launchpool?
The introduction of CyberConnect in Binance Launchpool marks a significant milestone in the quest for decentralized social networking. It opens up opportunities for users and developers to engage in the burgeoning field of web3. The emphasis on user ownership, privacy, and cross-chain compatibility makes CyberConnect an exciting addition to the web3 ecosystem. Most of the projects launched on Binance launch-pool has been a success, and I am quite bullish on CyberConnect as a project. In my opinion CyberConnect will do extremely well after listing.