The token CYBER is listed on Binance, and the airdrop is coming soon. What other surprises does CyberConnect have?
15% of the total supply of CYBER tokens is allocated to the community, while 85% belongs to developers, private placements, the team, and the treasury.Author: Grapefruit, ChainCatcher
On August 15, the native token CYBER of the Web3 social network protocol CyberConnect will officially be available for trading on Binance. At that time, users can trade CYBER obtained through staking mining on Binance Launchpool and airdrop claims.
The series of actions such as airdrop distribution, Launchpool, and listing on Binance have led CyberConnect community users to exclaim that they have finally reached the harvest season.
In fact, in addition to releasing the CYBER token, CyberConnect has also made a series of significant upgrades and improvements to its products recently, including the release of V3 and the launch of the incentive program CyberTrek.
CYBER Distribution: 15% to the community; 85% to the ecosystem and private placement, etc.
Since CyberConnect publicly disclosed information about the CYBER token on April 28, community users have been closely following the latest developments of the token. The news of the official listing of the CYBER token on Binance is a huge boon for community users, as their persistence and contributions to the product have finally yielded returns. Now, what users are most concerned about is how much token flow will be available in the market when it goes live on exchanges and how the token price will trend.
The total supply of CYBER is 100 million tokens. According to official information, 34% of the total supply will be used for ecosystem development, 25.12% belongs to private investors, 15% is allocated to the team and advisors, 10.88% is for the community treasury, and the remaining 15% will be distributed to community users in various forms, including public sales, Binance Launchpool, community rewards, etc.
In fact, what community users are most concerned about is how to participate in the distribution of this 15% of CYBER tokens. Currently, CyberConnect has publicly conducted three distribution operations for this 15% of CYBER tokens, including Coinlist public sales, Binance Launchpool allocation, and community airdrops. A total of approximately 8.4 million CYBER tokens have been distributed in these three rounds, accounting for about 8.4% of the total supply.
On May 18, Coinlist publicly sold 3 million CYBER tokens at $1.8, accounting for about 3% of the total supply;
Additionally, the marked community rewards of 12% are actually divided into three parts (3%, 2.4%, 6.6%) for distribution.
Among them, 3% (3 million CYBER tokens) were allocated in the Binance Launchpool that went live on August 2, where users can obtain CYBER tokens by staking BNB, TUSD, and FDUSD. Another part, 2.4% of the total supply, has been announced to be airdropped to early users in the first phase (Season 1).
On August 4, CyberConnect announced that it has opened an airdrop query webpage, where users can check their airdrop eligibility and quantity through the official webpage (https://cyber.co/rewards). A total of approximately 2.4 million (specifically 2,392,368) CYBER tokens will be airdropped, and users holding Mystery Box, The Shards, Mini Shards, W3ST, CyberProfile Premium Handle, and CyberProfile Early Adopter NFT can claim the CYBER airdrop starting on August 15.
The remaining 6.6% may be rewarded to users later, and the specific distribution details will need to be monitored through official disclosures.
Currently, according to public information, the expected circulating supply of CYBER at launch is 11,038,000, accounting for approximately 11.04% of the total supply. This includes 3% from the Binance mining pool, 0.75% from Coinlist public sales, 2.4% from the first phase airdrop to the community, 1.09% from the community treasury, 1.8% from ecosystem partners, 0.5% from the developer community, and 1% from marketing, as well as 0.5% from early collaboration activities;
Detailed distribution and release chart of CYBER tokens:
For users, in addition to focusing on the distribution, circulation, and price of CYBER tokens, they are more concerned about its application scenarios, as this will determine the future narrative of the CYBER token.
From the information revealed, CYBER is not just a governance token for community voting; it is also a utility token. CyberConnect has built multiple real application scenarios for it, such as using CYBER to pay for minting CyberID NFTs that represent personal profiles, and it will also support using CYBER as an asset for paying transaction gas fees across multiple chains within CyberWallet, etc.
Release of the upgraded version V3 and launch of the incentive program CyberTrek
For a crypto project, the technological updates and ecological development of the product are more meaningful than the short-term price trends of the token.
According to Dune data, CyberConnect currently has 1.25 million on-chain user profiles, with the number of monthly active wallet addresses exceeding 400,000.
In addition, the flagship social application Link3 has nearly one million monthly active users, and over 2,500 official organizations have registered and verified on the platform, including BNB Chain, Arbitrum, dYdX, 1inch, Messari, Animoca Brands, TreasureDAO, and more.
Despite the impressive data, there is still a long way to go to create a truly usable and enjoyable Web3 social product. Therefore, CyberConnect launched the V3 version on July 15.
Related reading: “Interview with CyberConnect Founder: How to Build a Decentralized Social Ecosystem and Create a Phenomenal Web3 Product?”
CyberConnect V3 is a significant upgrade and improvement to the original CyberConnect social network protocol, aiming to establish CyberConnect as a scalable full-chain social protocol. The officially upgraded V3 version will be deployed across multiple L1 and L2 blockchain networks.
The main components of the CyberConnect V3 version include three core elements: the identity infrastructure CyberAccount, which is compatible with ERC-4337 account abstraction; the censorship-resistant database CyberGraph for recording user content and social relationships; and the multi-chain solution CyberNetwork.
Among them, the most innovative is CyberAccount, a multi-chain account system product (also an account abstraction product). Unlike previous systems that could only use wallet addresses as identity representations, CyberAccount allows users to use smart contract wallets as their account system, aggregating on-chain behaviors (such as posts, images, etc.) and all information related to held WIST under the CyberAccount, enabling interaction with on-chain applications through this account.
Additionally, CyberAccount supports user registration via email, Twitter, and other Web2 methods, lowering the usage barrier. For users, the convenience is that when using the CyberAccount, they only need to use the CYBER token to pay for gas fees on other chains, without needing to worry about which native token to hold for which chain.
The CyberAccount infrastructure consists of four key components, each serving different purposes:
Authentication and Authorization support users in recovering access through email, phone, etc., in case of lost private keys;
Compatibility with ERC-4337 optimizes the payment method for multi-chain gas fees, allowing CYBER to serve as the payment method for the entire multi-chain CyberNetwork;
Cyber ID is similar to a username on Instagram or Twitter, an ERC-721 Token ending with ".cyber," representing a unique identifier for a user's account in the CyberConnect social network, akin to a domain name, but this domain is not permanent; it has an expiration date and must be renewed after that. CyberID is integrated into applications including QuestN, Huddle01, and AllsTo, allowing users to see their .cyber name on other applications.
Organizational Accounts are designed specifically for enterprises or organizational structures, allowing them to use multi-signature and customizable access control rules.
CyberGraph emphasizes the linkage of user identity and social data, enabling social data to be recorded across multiple EVM-compatible blockchains, which can be understood as a middleware that is plug-and-play.
In addition to upgrading and optimizing the product, CyberConnect has also launched related incentive activities for the V3 version, involving six major public chains and offering rewards of up to $1.8 million.
On July 26, CyberConnect announced a two-month CyberTrek event in collaboration with six L2 projects, including Polygon, BNB Chain, Arbitrum, Optimism, and Linea, aimed at allowing large-scale Web3 users to directly experience AA account abstraction ERC4337 through CyberAccount. This event will distribute incentives worth $1.8 million to users, with selected whitelisted users able to apply for participation, and the event has been dubbed the CyberConnect version of Odyssey by netizens.
Moreover, according to its roadmap, in the third quarter of 2023, CyberConnect will continue to expand V3 across multiple chains, such as Optimism, Arbitrum, and opBNB. On August 11, CyberAccount announced its integration with the Base network, bringing ERC-4337-supported smart accounts to Base. Additionally, CyberWallet will be launched in the fourth quarter of 2023.
