CyberConnect (CYBER): Creating Lasting On-Chain Connections

The ability to bring blockchain technology to everyday life has some exciting social applications. One particularly promising project is CyberConnect. Partnered with renowned Animoca Brands, CyberConnect hopes to make it easier for people to connect socially while still enjoying a variety of decentralized applications (DApps). Our guide will explain how CyberConnect works so you can decide if you want to invest in the project, or try it out for yourself.

Key Takeaways:

• CyberConnect, a decentralized social network built on web3 principles, allows users to create digital identities and social connections that they can seamlessly transfer between a variety of unique DApps.
• Some of the notable features of CyberConnect include CyberAccount, CyberTrek, CyberGraph, CyberNetwork and CYBER Community Rewards.
• Looking to trade CyberConnect tokens? Bybit is now offering the CYBER/USDT Spot trading pair.

What Is CyberConnect?

History of CyberConnect

CyberConnect was created by a four-person team that consists of Wilson Wei (CEO), Ryan Li (CTO), Zhimao Liu (VP of Engineering) and Shiyu Zhang (Head of Product). The project's developers met while working at BitTorrent and became interested in potential uses for web3 design. They realized that blockchain technology could be a useful way to build digital identities and to network with others.

The CyberConnect team decided to make a community combining social networking with brand-new DApp and blockchain concepts. This basic inspiration underwent a lot of changes in the early years. Earlier versions of the project brought up new issues that the team had to rush to solve. After a few iterations, they eventually settled on a design that prioritizes security, scalability and user convenience.

What Does CyberConnect Aim to Achieve?

The basic aim of CyberConnect is to find a way for users and developers to build a social network based on blockchain technology. This is a somewhat broad concept that other developers have tried before, but CyberConnect stands out with its unique aims. First of all, they hope to create a system that lets users maintain ownership over their own digital identity and data. Secondly, they hope to design a network where developers can seamlessly launch new DApps that integrate with pre-existing user accounts.

To accomplish these goals, CyberConnect has had to tackle a few essential problems:

• Usability: The system must be easy to figure out, even if a user doesn't understand a lot about working with blockchains.
• Scalability: It needs to run smoothly, no matter how many users and DApps join.
• Multi-Chain: Because they can use the same identity on multiple chains, users have access to more functionality.
• Security: Users need a secure way to maintain their data and authorize usage for a variety of DApps.

How Does CyberConnect Work?

To achieve all of its goals, CyberConnect starts with an identity layer. A user creates an account by connecting a wallet and entering basic authentication information, which is then used to make a single, unchangeable digital identity for that user. It's essentially like the email and password you use for standard social media. You can attach public information such as user names, profile pictures and bio information to your underlying identity.

CyberConnect then takes your holistic identity and connects it to a social graph layer filled with social media applications. This layer contains transfers to multiple blockchains and DApps. You can use the same identity to connect with all of them, and your behavior in these DApps transfers back to your main identity in the identity layer. This allows seamless transfer of things like cryptocurrency, user authorizations and digital property.

Features of CyberConnect

Participants in CyberConnect’s decentralized social protocol enjoy a variety of useful features.

CyberAccount

The CyberAccount system is a set of smart contracts that all combine to create a holistic digital identity. CyberAccounts come in many forms, so you can pick between an individual user account and a group account for a brand or team. These accounts are ERC-4337 compatible, and they use cryptographic key pairs to ensure security.

CyberID

CyberIDs are basically user handles that link to your account and provide a public face for your identity. As an ERC-721 token, CyberIDs are also NFTs.

CyberTrek

CyberTrek is a fun project that encourages users to explore other features of CyberConnect. Its two-month journey guides users through six different blockchain networks and their top DApps. Participating allows you to collect NFTs, CYBER tokens and raffle tickets for further rewards.

How to Participate in CyberTrek

To participate in the trek, you'll need to create a CyberAccount, mint a CyberConnect V3 Evangelist NFT and fund your account with tokens worth at least $10.

CyberGraph

CyberConnect is more than just an interface for linking users to multiple apps. Its true singularity comes from the transferable social connections that it creates. This decentralized social graph protocol is managed through the CyberGraph, a set of smart contracts that allows users to be social media creators who make their own content and connect with fellow users. With the CyberGraph system, people can access these network effects.

Content

Creators can make posts, images, videos and other content that’s kept in decentralized storage and linked to your CyberAccount. You retain control over this content, and can monetize it and decide who has access to it.

W3ST

W3ST is a web3 status token that allows users to define social communities. W3STs are NFTs that people use to determine roles within their decentralized social graph protocol. You can join communities of like-minded people or build a collection of followers.

Subscription

If desired, users can set up subscription programs. Content is only revealed to certain levels of subscribers, so it's easier to monetize your system.

Middleware

Middleware architecture makes it easier for developers to design DApps that are similar yet distinct. Developers can choose to contribute to a repository and make more logic codes available to future developers.

CyberNetwork

CyberNetwork is a new design meant to address issues with storage and gas fees. Network effects have been pricey, so CyberConnect has redesigned its system to require fewer gas fees and transactions.

CYBER Community Rewards

To encourage community participation, CyberConnect runs multiple rewards programs, dividing their program into “seasons” that last a few months. Users who perform certain tasks, such as talking in the Discord chat or creating a CyberProfile Premium Handle, are eligible to receive CYBER tokens.

CyberConnect Road Map

CyberConnect represents the third version that the project’s team has unveiled. Earlier versions solved issues like storing user data and defining how the CyberProfile system would work. Now, V3 adds features such as ERC-4337 compatible infrastructure, censorship resistance and gas fee reductions.

The next step for CyberConnect is to finalize its structure, enact a decentralized autonomous organization (DAO) and solve any remaining bugs. The project is currently in beta testing. DApp developers and interested users can receive an invite to join the beta and help provide input for the development team to see how well CyberConnect functions. After ensuring that everything runs smoothly, the network’s team hopes to open up to the public and get more developers interested in building DApps for their system.

CYBER Tokenomics

One of the key mechanics of this decentralized social protocol is CYBER. Built on the ERC-20 standard, CYBER tokens allow users to interact with different blockchains without having to purchase several different cryptos. You simply buy CYBER tokens and the network uses your account balance to pay for gas fees on any chain. CYBER is also a governance token you can use to interact with the DAO in the future.

There’s a total supply of 100 million CYBER tokens, to be released on a gradual schedule. The current circulating supply is around 11 million, and the total supply won't be available until 2028. The tokens are distributed as follows:

• Team & Advisors: 15%
• Private Sale: 25.12%
• Community Treasury: 10.88%
• Community Rewards: 12%
• CoinList Public Sale: 3%
• Ecosystem Development: 34%

CYBER Price Prediction

When CYBER tokens were first released on Aug 15, 2023, the token’s price quickly soared to $6.99 as optimistic investors rushed to get involved with this promising project. Since then, prices have dropped a little as the market has stabilized. The current token price of CYBER is $4.01 (as of Aug 23, 2023). Since CYBER is still a relatively new crypto, no one is quite certain yet how it will behave. Increases in circulating supply and new announcements from the web3 social network could impact its price.

Many crypto experts forecast that prices will remain somewhat flat for the near future, and then undergo a slow yet steady increase in prices. For example, CoinWire predicts that CYBER’s price will reach $6.05 by the end of 2023 and rise to $10.20 by 2025, followed by an increase to $15.54 in 2027 and $23.53 in 2030. Others, however, believe that the right market conditions could cause impressive price jumps. Data from DigitalCoinPrice suggests that CYBER might reach $10.67 by the end of 2023 and advance to $17.64 by 2025. Moreover, CYBER is then expected to increase to $22.42 in 2027 and $50.54 in 2030.

Where to Buy CyberConnect Tokens (CYBER)

One of CyberConnect's main backers is Binance Labs, so it's no surprise that they first listed their token on the Binance exchange. However, they're committed to making their web3 social network token highly accessible, so you can also buy the token from many other exchanges. For example, CYBER is available for sale on Bybit. With Bybit's convenient platform, buying CYBER is as simple as following these steps:

1. Create or log in to your Bybit account.
2. Fund your account with cryptocurrency.
3. Visit Bybit's CYBER/USDT Spot trading page and start trading.

Is CYBER A Good Investment?

Since it was just recently launched, CYBER is still in the volatile post-release stage. It's currently one of the most hyped coins on the market, so it has the potential to provide an excellent return for short-term investors.

However, keep in mind that any new project should be approached with some caution. Though CYBER’s price doesn't seem likely to drop anytime soon, its long-term performance will heavily depend on whether the CyberConnect team delivers on its promises. Ultimately, the future looks bright for CYBER. It's a well-designed token with several uses, and the decentralized social network it's a part of is backed by a reputable team of developers and investors, such as Animoca Brands, Multicoin Capital, Delphi Digital, Polygon Studios and Tribe Capital.

Closing Thoughts

CyberConnect hopes to provide a unique web3 social network. The project allows people to conveniently interact with a variety of DApps while still retaining complete ownership of their identity, data and creations. Whether you want to invest in a promising token or be an early adopter of the next web3 phenomenon, CyberConnect has a lot of potential.

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