What is CYBER coin? Should you invest in CyberConnect (CYBER)

“CyberConnect (CYBER) is a project that has attracted the attention of many investors, with the Coinlist platform announcing they will launch the CYBER token sale on May 18, 2023. Subsequently, Binance also selected the CYBER coin as the 37th project on the Binance Launchpool and it was listed by this exchange after the farming process ended

So what exactly is CyberConnect? What is CYBER coin? What are the notable features of CYBER? What is the future investment potential of CYBER? Let’s find out more in the detailed content of the article below.

Contents

1 What is CYBER coin, and should you invest in it?

What is CYBER coin, and should you invest in it?

What is CYBER coin?

CYBER coin is the main currency of CyberConnect, a decentralized social graph protocol operating on the BNB Chain and Ethereum. At CyberConnect, users can create their profiles, post or share content (images, videos…), and connect with other users in the same system.

More specifically, CyberConnect has many attractive features such as: access to all dApps, decentralized management, multi-chain, and user incentive programs. In addition, CyberConnect will focus on developing the Social Graph to support users in accessing various social media applications and protecting personal information.

Website of CyberConnect (https://cyberconnect.me/)

If we compare Cyber Connect with Facebook or Instagram, they differ in that instead of creating a social media platform to share information, CyberConnect will focus primarily on supporting people in accessing various SocialFi applications in Web3. Of course, CyberConnect will provide the infrastructure for social media applications to integrate into the platform.

Cyber Connect (CYBER) will develop including three main features focused on users:

CyberProfile: a decentralized identity standard providing access to Web3.
CyberConnect Social Graph: links your digital identity, data, content, and friends.
CyberWallet: a safe smart contract wallet that makes it easy to engage in Web3.

The importance of CyberConnect – What is CYBER coin?

CyberConnect was born to solve the problems of Web2, specifically as follows:

Censorship: Centralized control of our social data means that a few large companies completely control which opinions, ideas, and social content are popularized. This censorship takes many forms; being suspended due to platform-imposed politics, censored by the state, or unexplained censorship (e.g., “shadow banning”).
Loss of creator value: Social media content creates a lot of value for the world, but in Web 2.0, creators only get a small portion of that value.
Dispersed and duplicate data: In the centralized structure of Web 2.0, transferring data between platforms is extremely difficult and often impossible (e.g., you can’t transfer your Facebook profile data to Reddit).
This creates high conversion costs; it increases friction for users and wastes time as users have to continuously build and declare connections when using new applications.
Lack of support for innovation: Dispersed data also means reduced creativity. Only a few players have access to all our data, and independent developers cannot explore that data and build useful products on it.

If someone has a better idea for an Instagram interface, or a better feed algorithm, they can’t exploit all the data created by users to build their idea; even with the consent of those users.

Discord is an example of Web2 expansion for developers with its SDK for bots, but it is still limited and only allows access to data that the company decides to share.

What are the unique features of CYBER coin?

Sharing and moving data in the Web2 space still has many limitations. CyberConnect (CYBER coin) takes this as a premise to build its current decentralized social platform. The value of creators (data contributors, indexers) in Web2 is often not duly recognized, and the protocol helps them transfer content more easily and receive their rightful share of value. In some platforms, innovation can be suppressed, and if anyone has an idea, it would be difficult to be recognized in the Web2 model as the final decision is still with the operator.

In summary, CyberConnect has the following notable features:

Flexibility and scalability: CyberConnect helps users manage their social graph and switch between applications without losing friend connections. The CyberConnect protocol has the scalability to aggregate user identities and data across blockchain networks.
Accelerates bootstrapping for Dapps: CyberConnect integrates social connectivity into an open graph, supporting diverse and evolving social utility and innovation over time.
Empowers user privacy: CyberConnect allows users to decide how, where, and for what purpose their social data is used. Users can create, edit, and transfer data across multiple Dapps in the CyberConnect ecosystem. CyberConnect helps protect users’ personal information.

Use cases for CyberConnect (CYBER)

Social graph database: supports creating, updating, and querying user data through the Ceramic blockchain.

Multi-account recognition: users are optimized for identity management (password management) and single sign-on experience.
NFT Ownership: CyberConnect also collects and organizes data from websites like Twitter, Foundation, and Rarible. This combination aims to provide users with a more diverse experience and easier management for various categories (e.g., NFTs, videos…).
CyberChat: CyberConnect allows users to log in with a blockchain wallet, create profiles, and send messages.
CyberConnect SDK: a tool that supports dApps to integrate connectivity functions (JS SDK, tracking…).

The current ecosystem of CyberConnect

Currently, CyberConnect has over 50 products in its ecosystem, distributed across various categories such as metaverse, content, community tools, games, etc. Below are some notable projects:

Link3, a Web3 social network with posts, events, and a loyalty program;
SubscribeNFT: With the CyberConnect protocol, users can pay to subscribe to profiles, each successfully subscribed profile will be granted a SubscribeNFT.
Plato is built around offline dining scenarios, rewarding users who create and share dining experiences with tokens and badges
Oasis is a metaverse social product with over tens of millions of registered users, supporting various social activities (watching sports events, concerts, board games, etc.)
Phaver, a decentralized social media platform with 110,000 active users per week;
ReadON, a Web3 content aggregation app with social features and read-to-earn functionality;
Dopamine, a crypto-focused mobile app, Dopamine leverages blockchain technology, offering millions of users non-custodial wallets that comply with global anti-money laundering standards
Mocaverse, an NFT collection for members of Animoca Brands;
Galxe, a Web3 credential data network project.

By integrating with CyberProfile, developers can focus on building their expertise in user interface scenarios and exploring new content products and social experiences without having to replicate the building and storage of social relationships. At the same time, the specific requirements of developers in different situations can provide ideas for this protocol, as it prioritizes addressing common needs.

Information about the tokenomics of CYBER

Token Name: CyberConnect
Ticker: CYBER
Blockchain: Ethereum, BNB Chain, Optimism
Token Type: Utility, Governance
Total Supply: 100,000,000 CYBER

What are the uses of CYBER token? CYBER will have 3 main uses:

Payment: Use CYBER to pay fees when purchasing CyberID
Governance: Users holding CYBER will have voting rights for governance proposals and protocol development, or delegate voting rights to others.
Gas fees in CyberAccount: Use CYBER as gas fees when executing transactions in CyberAccount.

The allocation ratio of CYBER token is as follows:

Ecosystem Development: 34%.
Private Sale: 25.12%
Team & Advisors: 15%
Community Treasury: 10.88%
Community Rewards: 9%
Public Sale: 3%
Binance Launchpool: 3%

The team and investors of CyberConnect (CYBER)

CyberConnect was founded and developed by 4 main members, who are also Co-Founders of the project: Ryan Li, Wilsonwei, Shiyu, and Zhimao. All of them do not publicly disclose their real names, only using nicknames and NFT images as representatives on their personal pages. Specifically:

Wilson Wei – founder of Dlive and Lino Network, with extensive experience in the blockchain field;
Ryan Li – has 10 years of experience as a software engineer, having developed software for Google and Instagram, and also co-founded Dlive and Lino Network;
Shiyu Z – co-founder of Dlive and Lino Network;
Zhimao Liu – has many years of software development experience for Facebook and Google.

CyberConnect has successfully raised funds in 2 rounds totaling 25 million USD, led by investment funds such as Multicoin Capital, Sky9 Capital, Animoca Brands…

Seed Round 11/16/2021: 10 million USD
Series A Round 05/17/2022: 15 million USD

Currently, the partners of CyberConnect include: BNB Chain, Galxe, Coinbay, Atticc, RociFi, dappback, Zetachain, Treasureland, TwitterScan, Top Goal, SphinxUp…

Does the CYBER coin have investment potential?

Now that you understand what CYBER coin is, ultimately, is this project good and worthy of investment?

CyberConnect is a SocialFi project, providing a decentralized social network that allows users to control their data, and aims to create a fair Web 3.0 environment. The development potential of CYBER coin depends on how popular SocialFi becomes in general. Currently, many major projects are starting to switch from Linktree to Link3 in CyberConnect, which is a positive sign.

Competitors: It has some competitors like Lens Protocol, Audius, DESO…. Similar to DeFi protocols competing for liquidity, SocialFi protocols will also compete for user liquidity – the ability to establish high-frequency connections with a sufficient number of users. Although their overall market share may not be high, they can establish a solid position in specific fields with dense data. In general, the winning protocols will be those that are friendly enough to both developers and users.

Revenue: is also a factor in assessing whether a project can sustainably develop. According to the current revenue model of CyberConnect, it charges for short accounts (less than 12 characters). About 40,000 accounts are paying accounts, accounting for about 4% of the total. Not too high, but in the future if widely applied, perhaps CyberConnect (CYBER) will expand many more fee-charging features. In summary, it has the ability to generate its own revenue.

Tokenomics: This is the hardest part of SocialFi projects. Many platforms use a token reward model, promising very high initial benefits to attract users, but then it becomes an inflationary tokenomics model. Currently, the reward model of most SocialFi platforms generally looks quite similar to GameFi. Fortunately, at CyberConnect, its tokenomics does not go into “this rut”. It is designed quite well, offering many benefits to the community, directing traffic to its ecosystem products.

In conclusion: CYBER coin is a coin of a good project. It belongs to a relatively new field in the market, Social, and this field is still quite new, with not much money flowing into it, so the future potential is very large. However, most SocialFi projects are still in the early stages, needing time to develop and attract users, so they may not explode too strongly in the short term. But in the long term, this is one of the Crypto projects very worth paying attention to.