On April 28th, Web3 social protocol CyberConnect announced the launch of the native Token CYBER, and launched a public offering on CoinList on May 18th. The total amount of CYBER is 100,000,000, and the public circulation of CoinList accounts for 3%, of which 25% will be unlocked after going online, and the remaining 75% will be unlocked linearly on a monthly basis within 6 months. The registration deadline for this round of issuance is 20:00 on May 15th, Beijing time. The unit price for the public offering is $1.8, while the institutional price for the Series A round is $3.
Cyberconnect is a Web 3 social networking protocol, a platform for developers and users to experience owning identity, content, connection and tokenized channels, it consists of three user-centric functions: CyberProfile, a Web 3 The decentralized identity standard for access; CyberConnect Social Graph, which links user digital identities, data, content, and friends; CyberWallet, a smart contract wallet for its protocol that securely stores user assets.
About CYBER and CyberDAO
CyberDAO is used for the governance delegation of the protocol, and CYBER is its governance token. CYBER is used to protect and manage DAO, which will control the use of future funds and all core upgrades of the protocol infrastructure.
CYBER will provide the following utilities to the Cyberconnect protocol:
governance
CYBER token holders will vote on proposals for sustainable long-term development and improvement of the CyberConnect protocol. Upcoming proposals include: a service fee to activate paid transactions through the protocol; changes to the service fee collection rate; changes to acceptable tokens for payments; expansion of the protocol to new blockchains; a developer grant program and a community contributor program budget allocation, as well as offline and online community activities for ecosystem development.
Used to pay for CyberProfile mint
CyberProfile is the entrance for developers and users to enter the CyberConnect ecosystem. CYBER will be used as a gas token when purchasing CyberProfile with a premium username.
Use CyberWallet to pay Gas
CyberWallet is CyberConnect's smart contract wallet solution, which provides users with a seamless transaction experience without Seed Phrase, and does not need to provide blockchain native tokens for different chains as payment Gas. CYBER will be used as a cross-EVM compatible within CyberWallet The price list of all transactions on the chain and the payment method of gas fees. Its wallet CyberWallet is still under development and will be applicable to Ethereum, Optimism, Arbitrum, BNB Chain, Base and Polygon networks.
CYBER token economy
The total supply of CYBER is 100,000,000 distributed as follows:
-Team and consultants: 15%, locked for 15 months after going online, and then unlocked in a linear quarter for the next 3 years;
-Private placement: 25.12%, locked for 12 months after launch, and then unlocked in a linear quarter for the next 3 years;
-Community Treasury: 10.88%, 10% will be unlocked online, and the remaining 90% will be unlocked on a monthly basis for 5 years;
-Community Rewards: 12%, 20% will be distributed to early users after launch, and the remaining 80% will be distributed to future community rewards;
-CoinList public offering: 3%, 25% will be unlocked after going online, and the remaining 75% will be unlocked linearly on a monthly basis within 6 months;
- Ecological development: 34%, see below for details.
Ecological development
- Ecological partners: 9%, 20% will be unlocked after going online, and 80% will be unlocked linearly within 4 years;
-Developer community: 10%, 5% will be unlocked after going online, and 95% will be unlocked linearly within 4 years;
- Early integration partners: 5%, 10% will be unlocked after going online, and 90% will be unlocked within 3 years;
-Marketing: 10%, 10% unlocked after launch, 90% unlocked within 3 years.
Early Adopter and Contributor Eligibility
Users who qualify as CyberConnect Early Adopters and Contributors will be in the priority queue for the CYBER Public Sale on CoinList. The following are its judging criteria:
CyberProfile owner with advanced handle;
- Different tiers of FanPass NFT holders of CyberConnect FanClub;
- W3ST holders;
- Discord early adopters (top 1000, 10000, 100000 early adopters into Discord);
- Link3 Mystery Box and The Shards series NFT holders;
- NFT holders from previous community events, verified holders of Web3 Dweller, Connect2022 Grand NFTs, #Let'sCyberConnect Season 1 POAP, Community Treasure Hunt OATs;
-CyberConnect Donor on Gitcoin.
The snapshot was taken at 9:00 (UTC) on April 26, 2023. If you want to qualify for CYBER priority purchase, you need to add the eligible Ethereum address to your CoinList account before the end of registration, which will end in May 2023 12:00 (UTC) on the 15th.
