ORC-20 is a standard that was developed as an improvement over the BRC-20 standard, aiming to address certain limitations such as security concerns, enhanced flexibility, and leveraging the UTXO model of Bitcoin. What are the notable features of this upgraded version compared to the old standard?

What is ORC-20?

ORC-20 is a standard for tokens running on the Bitcoin blockchain, represented as JSON (JavaScript Object Notation) files and recorded on the Satoshi using serial numbers, similar to BRC-20.

Developers of ORC-20 introduced this token standard as a solution to some of the limitations of BRC-20 by improving security and increasing flexibility. Additionally, ORC-20 expands on the scope of BRC-20 by supporting more data formats and leveraging the Unspent Transaction Output (UTXO) model of Bitcoin to eliminate the issue of double-spending.

In simple terms, ORC-20 can be seen as a hard fork of BRC-20.

However, it's important to note that ORC-20 is still in the testing phase, and there is no guarantee that tokens created according to this standard will have any specific value or utility. Therefore, users should exercise caution and conduct thorough research before using ORC-20.

For example, migrating an orc (inscription number #2504160) from BRC-20 to ORC-20 in a migration event:

{ "p": "orc-20", "tick": "harambe", "id": "2504160", "op": "deploy", "wp": "true" }

Upon completion, all tokens become ORC-20 tokens.

The improvements of ORC-20 compared to BRC-20 are as follows:

Utilization of Ordinals: ORC-20 is built on Ordinals and the BRC-20 token standard. Therefore, ORC-20 aims to promote the adoption of Ordinals, allowing objects operating on this token standard to carry different types of data from the Bitcoin network. It enables users to deploy new ORC-20 tokens and migrate existing BRC-20 tokens.

Implementation of UTXO Model: ORC-20 also implements the UTXO model to determine the origin and ownership rights of coins/tokens within the blockchain network by verifying the size and number of UTXOs moved on-chain. The UTXO process is similar to cash transactions. If you want to transfer 3 BTC but only have a 10 BTC UTXO in your wallet, you need to transfer the entire UTXO and receive approximately 7 BTC (minus fees) as a new UTXO (with a lower value).

New UTXO balance = Total initial UTXO - Amount sent to another address

Transaction fee for the blockchain

The UTXO model has several advantages, including:

Scalability and strong security.

Verification of the validity of transactions on the blockchain.

Each transaction output is used only once, after which the UTXO becomes an output for the next receiving address.

There are no accounts on the UTXO chain. Instead, coins are stored as a list of UTXOs created by using existing UTXOs and generating new UTXOs at the same position.

Based on the UTXO model, in each transfer, the sender specifies the amount the recipient will receive, and the remaining balance is returned to the sender. A sending transaction can transfer funds to multiple recipients, and the previous balance becomes invalid only when the new transaction is completed.

Guide to minting ORC-20 tokens

Step 1: Access and Connect

Access Unisat by visiting the following link: https://unisat.io/inscribe and click on "Connect" to connect your Unisat wallet to the interface. Choose "Inscribe" and "Text" to select the type of token you want to mint.

Step 2: Insert Code snippet

Select the "Single" button.

Paste the code snippet of your project (as shown in the image) into the empty field.

{ "p": "orc-20", "tick": "harambe", "id": "541992", "op": "mint", "amt": "100000" }

Then, click on "Next" to proceed.

Step 3: Payment and Transaction Completion

After completing Step 2, you need to select the gas fee based on different levels (Economy, Normal, and Custom). Once you have made your selection, click on the "Submit and Pay" button to proceed with the transaction payment.

You need to have a small amount of Bitcoin in your wallet to pay for the gas fees. Approximately $3 to $5 should be sufficient for covering the transaction costs.

Finally, confirm your wallet and complete the process.

#feedfeverchallenge

Cryptocurrencies, blockchain technology, and decentralized finance (DeFi) solutions have emerged as powerful forces that are reshaping various aspects of our daily lives. From financial transactions to data security and beyond, these innovations are bringing forth transformative changes that have the potential to revolutionize traditional systems and empower individuals in unprecedented ways.

Financial Inclusion and Accessibility: Cryptocurrencies and DeFi solutions have the potential to provide financial services to the unbanked and underbanked populations worldwide. With just a smartphone and internet access, individuals can participate in a global financial system, access loans, save money, and engage in cross-border transactions without traditional intermediaries.

Transparent and Secure Transactions: Blockchain technology ensures transparency, immutability, and security in transactions. It eliminates the need for intermediaries, reducing costs and enhancing trust. Cryptocurrencies enable peer-to-peer transactions, offering an alternative to traditional banking systems and reducing reliance on centralized authorities.

Empowering Personal Data Control: Blockchain-based solutions provide individuals with more control over their personal data. With decentralized applications (dApps) built on blockchain, users can securely store and manage their data, granting access only when needed. This empowers individuals by shifting the balance of data control from centralized entities to the users themselves.

Streamlining Supply Chain Management: Blockchain technology is transforming supply chain management by providing transparency and traceability. Through immutable records and smart contracts, stakeholders can track products at every stage, ensuring authenticity, fair trade, and ethical practices. This benefits industries such as food, pharmaceuticals, and luxury goods, enhancing consumer trust and safety.

Tokenization of Assets: The tokenization of real-world assets, such as real estate, art, or intellectual property, brings liquidity and accessibility to otherwise illiquid assets. Fractional ownership and trading through blockchain platforms enable broader participation and investment opportunities, democratizing access to traditionally exclusive markets.

Revolutionizing the Job Market: Decentralized job marketplaces powered by blockchain technology are disrupting traditional employment models. Freelancers and gig workers can engage directly with employers, reducing intermediaries and facilitating faster, more secure payments. Smart contracts ensure fair agreements and eliminate payment disputes.

Democratizing Fundraising: Initial coin offerings (ICOs) and token sales have opened up new avenues for fundraising, allowing startups and entrepreneurs to access capital globally. This democratizes investment opportunities, enabling individuals from diverse backgrounds to participate in early-stage investments and support innovative projects.

Conclusion:

Cryptocurrencies, blockchain technology, and decentralized finance solutions have the potential to transform our daily lives across multiple domains. From financial inclusion and data control to supply chain management and job markets, these innovations empower individuals, enhance transparency, and foster trust in a decentralized ecosystem. Embracing and understanding these technologies can unlock their full potential and drive us towards a more inclusive, efficient, and secure future.

#feedfeverchallenge

Making successful cryptocurrency trades while practicing proper risk management is essential to mitigate potential losses and increase the likelihood of profitable trades. Here are some tips to consider:

Educate Yourself: Start by gaining a solid understanding of cryptocurrencies, blockchain technology, and the factors that influence their value. Stay updated on market news, trends, and regulatory developments. This knowledge will help you make informed trading decisions.

Set Clear Goals and Strategies: Define your investment goals, whether they are short-term or long-term. Develop a trading strategy that aligns with your goals and risk tolerance. Consider factors such as entry and exit points, stop-loss orders, and profit targets.

Conduct Thorough Research: Before investing in a specific cryptocurrency, research and analyze its fundamentals, team, technology, adoption, and market trends. Evaluate the potential risks and rewards associated with the investment.

Diversify Your Portfolio: Avoid putting all your funds into a single cryptocurrency. Diversify your portfolio by investing in a variety of cryptocurrencies with different risk profiles. This can help spread the risk and increase the potential for gains.

Start with a Demo Account: If you are new to cryptocurrency trading, consider starting with a demo account or paper trading. This allows you to practice trading strategies without risking real money, gaining experience and confidence before trading with actual funds.

Set Risk Management Measures: Determine your risk tolerance and establish risk management measures. Use stop-loss orders to automatically sell a cryptocurrency if it reaches a predetermined price level. This helps limit potential losses in volatile markets.

Use Technical Analysis: Utilize technical analysis tools and indicators to identify trends, patterns, and potential entry or exit points. However, be aware that technical analysis is not foolproof and should be used in conjunction with other analysis methods.

Be Mindful of Market Volatility: Cryptocurrency markets are highly volatile. Be prepared for price fluctuations and avoid making impulsive decisions based on short-term market movements. Take a long-term perspective and consider the overall market trends.

Practice Discipline and Emotional Control: Emotions can cloud judgment and lead to poor trading decisions. Maintain discipline and stick to your predefined trading strategy. Avoid making impulsive trades based on fear or greed.

Regularly Review and Adjust: Continuously evaluate your trading performance and adjust your strategies accordingly. Learn from your successes and failures, and refine your approach over time.

Remember, trading cryptocurrencies involves risks, and there are no guarantees of profits. It's crucial to only invest what you can afford to lose and seek professional advice if needed.

#feedfeverchallenge

Crypto payments offer several benefits to the ecommerce industry, including:

Faster transactions: Crypto transactions are processed quickly and efficiently without the need for intermediaries such as banks or payment processors. This means that payments can be processed almost instantly, reducing the time it takes for customers to receive their goods and services.

Lower transaction fees: Crypto transactions typically have lower transaction fees than traditional payment methods, which can be particularly beneficial for ecommerce businesses with high transaction volumes.

Increased security: Crypto payments use strong encryption techniques and decentralized blockchain technology, making them highly secure and resistant to fraud. This can help protect ecommerce businesses from fraudulent transactions and chargebacks.

Global accessibility: Cryptocurrencies can be used for transactions across borders without the need for currency exchange, making it easier for ecommerce businesses to expand globally.

Decentralized nature: Cryptocurrencies are decentralized, meaning they are not controlled by any central authority or government. This provides greater financial freedom and autonomy for ecommerce businesses and their customers.

Overall, crypto payments offer a range of benefits to the ecommerce industry, including faster transactions, lower fees, increased security, global accessibility, and decentralization. As a result, many ecommerce businesses are starting to adopt crypto payments as an alternative payment method to traditional payment methods.

The ongoing US debt ceiling negotiations are causing investors to sit on the sidelines. JPMorgan Chase CEO Jamie Dimon told Bloomberg on May 11th that concerns over a US government default could create market panic and increase volatility in the stock market.

The next big question that has crypto investors concerned is how Bitcoin will react to such an event. Bloomberg's latest poll indicates that Bitcoin (BTC) could be the third-favorite asset after gold and US Treasury bonds if the US government fails to prevent a default.

Billionaire fund manager Paul Tudor Jones told CNBC that he holds Bitcoin and will always have a portion of his investment portfolio in it.

What are the important support and resistance levels to watch for in the S&P 500 (SPX), Bitcoin, and major altcoins? Let's study the charts to find out.

SPX technical analysis

The S&P 500 (SPX) has been trading near the 20-day EMA at 4,118 for the past few days. This indicates a fierce battle between the bulls and bears for supremacy in the short term.

SPX daily chart | Source: TradingView

The rising 20-day EMA and the relative strength index (RSI) near the mid-point suggest range-bound action in the near term. The index may oscillate between the resistance level at 4,200 and the 50-day simple moving average (SMA) at 4,059 for the next few days.

A breakdown and close below the 50-day SMA could pull the price down to the uptrend line. If this support also breaks down, the index could plummet to 3,800.

On the flip side, the bulls will have to cross the resistance barrier at 4,200. After that, the index could rise to 4,325, where the bears will once again pose a strong challenge. During the correction from this level, if buyers turn 4,200 into support, it will increase the prospects of a rally to 4,325.

Technical Analysis of DXY:

After several failed attempts, the bulls finally managed to push and maintain the US Dollar Index (DXY) above the 20-day EMA (101.88) on May 11.

The bulls continued to buy and broke above the resistance at the 50-day SMA (102.47) on May 12. The 20-day EMA has started to rise, and the RSI jumped into the positive zone, indicating that the bulls have an advantage. The index could rise to 103.50 in the short term, where it is likely to face selling pressure from the bears again.

On the other hand, if the price falls and slides below the 20-day EMA, it indicates that the breakout above the 50-day SMA could be a false breakout. The index could then retest the important support level at 100.82. Breaking and closing below this level would complete a head and shoulders (H&S) bearish pattern and could start moving down to 97.50.

Technical Analysis of BTC

The bulls are attempting to push Bitcoin back into the symmetrical triangle pattern, indicating strong buying pressure at lower levels.

Chart of BTC/USDT on a daily timeframe | Source: TradingView

The relief rally could face stiff selling at the moving averages and again at the resistance line of the triangle. If the price turns down from the resistance, the bears will make another attempt to sink the BTC/USDT pair to $25,250.

This is an important level to watch because if it breaks down, selling could intensify and the pair may drop to $20,000.

On the contrary, the bulls will have to scale the overhead resistance to signal the start of a new uptrend. Firstly, the pair could rise to $31,000 and then attempt to rise above $32,400.

ETH Technical Analysis

Ether (ETH) bounced back from the 50% Fibonacci retracement level at $1,754 on May 12th, and after a few days of consolidation, the bulls pushed the price above the 20-day EMA ($1,854).

Daily chart of ETH/USDT | Source: TradingView

The sellers will try to defend this EMA strongly and turn it into a resistance level. If they succeed, it will indicate that higher levels are attracting selling. The ETH/USDT pair could then retest the nearest support at $1,740. Breaking below and closing below this level could pull the price down to the 61.8% Fibonacci retracement level at $1,663.

If the bulls want to prevent the decline, they will have to push the price above the 50-day SMA ($1,883). After that, this pair could rise to the psychologically important level of $2,000.

Technical analysis of BNB

The bulls have pushed BNB (BNB) to the moving averages, indicating that the $300 level is a strong support level.

On the daily chart of BNB/USDT | Source: TradingView

Breaking out and closing above the moving averages will clear the way for a potential increase to resistance at $338. This level may be a strong barrier, but if the bulls break through it, the BNB/USDT pair could rise to $350.

Alternatively, if the price falls from the moving averages, it shows that the bears are still not giving up. They will then try to push the price down below $300. If they do so, this cryptocurrency pair could slide down to the next support level at $280.

#SPX #DXY #BTC #ETH #BNB

Crypto can be fundamentally analyzed using various metrics and methods, including:

Technology: Examining the underlying technology of a cryptocurrency, such as its consensus mechanism, security features, scalability, and interoperability with other blockchains.

Market cap and liquidity: Evaluating a cryptocurrency's market capitalization (the total value of all coins in circulation) and liquidity (the ease with which a coin can be bought and sold).

Adoption and usage: Analyzing the level of adoption and usage of a cryptocurrency, including its transaction volume, the number of wallets, and the number of merchants accepting the coin as payment.

Development activity: Assessing the level of development activity and innovation around a cryptocurrency, including updates to the codebase, new partnerships, and community contributions.

Team and community: Evaluating the quality and experience of the cryptocurrency's development team, as well as the size and engagement of its community.

Regulatory environment: Examining the regulatory environment surrounding the cryptocurrency, including government policies and regulations that could impact its adoption and growth.

Competitive landscape: Analyzing the competitive landscape of the cryptocurrency, including its relative strengths and weaknesses compared to other coins in the same market.

By analyzing these metrics and methods, investors can gain a deeper understanding of the fundamentals of a cryptocurrency and make informed decisions about whether to invest in it or not. However, it's important to note that crypto markets are highly volatile, and investors should also consider technical analysis and market sentiment when making investment decisions.

Detecting a scam project in the cryptocurrency space can be challenging, but there are several warning signs you can look out for to reduce your risk of falling victim to a scam. Here are some things to keep in mind:

Lack of transparency: A legitimate project should have a whitepaper that outlines its goals, technology, and team members. If the project doesn't have a whitepaper or is not transparent about its team or technology, it's a red flag.

Unrealistic promises: If a project promises returns that are too good to be true, it's likely a scam. Be wary of projects that make promises of guaranteed profits or high returns with little to no risk.

Lack of community engagement: A legitimate project will have an active and engaged community of investors and supporters. If there is little to no community engagement, it's a warning sign.

Anonymous team members: If the project's team members are anonymous, it's a red flag. A legitimate project will have a team that is public and can be verified.

No clear use case: If a project doesn't have a clear use case for its technology, it's likely a scam. A legitimate project will have a clear and defined purpose for its technology.

High-pressure sales tactics: If a project is using high-pressure sales tactics or trying to rush you into investing, it's a warning sign. A legitimate project will allow you to make an informed decision without feeling pressured.

Lack of regulation: Cryptocurrencies and blockchain projects are largely unregulated, which can make it difficult to identify scams. However, if a project is not listed on reputable exchanges or doesn't have any regulatory oversight, it's a red flag.

Overall, it's important to do your research and be skeptical of any project that seems too good to be true. If you're unsure about a project, it's better to err on the side of caution and avoid it altogether.

NFT sales saw a slight increase last week, recording a modest rise of about 1.46% compared to the previous week. The accumulated value of NFT sales reached $149.31 million from April 29 to May 6, 2023. However, the latest week has surpassed expectations, with a significant spike of 31.22% in sales. In the seven-day period, NFT sales reached $208.17 million. The notable increase in NFT sales this week could be due to the emergence of NFTs originating from the Bitcoin blockchain.

Bitcoin NFT sales have gained significant momentum.

Bitcoin NFT sales have emerged as a significant contributing factor in the context of digital collectibles sales, among 21 separate blockchain networks as recorded by cryptoslam.io data on May 14, 2023. Ethereum's NFT sales continue to dominate with NFT sales of $111.26 million; however, the runner-up position is held by Bitcoin-based NFTs, also known as text-based NFTs.

Data proves that Bitcoin NFT sales have generated $53,433,451 and secured the second position in blockchain sales among 21 chains. Bitcoin NFT sales have surged by 187.54% compared to the previous week.

Mythos NFTs also saw a significant increase, with sales rising by 69.66% to $11.73 million in the previous week. This helped Mythos climb to the third-largest ranking when considering the top blockchains by NFT sales volume.

Solana, which previously held the second-largest position, now stands at fourth place for NFT sales. In the past seven days, Solana recorded $8,789,106 - a 21.16% decrease from the previous week. The fifth-largest blockchain for NFT sales in the past week was Polygon with $7.79 million, down 7.07%.

Regarding NFT collections, data from cryptoslam.io reveals that "Uncategorized Ordinals," which are essentially random Ordinals not belonging to any specific collection, have achieved top collection status in terms of sales this week. Uncategorized Ordinals have seen NFT sales of $15.62 million.

Bored Ape Yacht Club (BAYC) on Ethereum took second place this week with a total revenue of $13.80 million. Mythos' Dmarket collection secured third place, with the majority of Mythos' NFT sales coming from transactions of the Dmarket collection.

In fourth place, ORDI BRC-20 NFT recorded weekly sales of $11.044 million, while the Milady Maker NFT collection on Ethereum accumulated $10.376 million in sales in the same timeframe and ranked fifth this week. One project that experienced a significant increase in NFT sales this week was Space Pepes on Bitcoin, with $4.607 million accumulated, an increase of 2,142.35% compared to the previous week.

#feedfeverchallenge

DYOR: A Crucial Concept for Cryptocurrency Investors

DYOR, an abbreviation for "Do Your Own Research," is an important concept for cryptocurrency investors. This is particularly true in the context of the cryptocurrency market, which is still new and full of risks.

Assessing the Truth: The Role of DYOR in Evaluating Cryptocurrency Projects

DYOR allows investors to better assess the truth about a specific cryptocurrency project. This information may include the developer's history, the technology used, the feasibility of the idea, the reliability of security standards, and many other factors. To make accurate investment decisions, investors need to research and evaluate all available information themselves.

How to Practice DYOR: Steps for Researching and Evaluating Cryptocurrency Investments

Practicing DYOR may involve reading company development materials, reviewing expert reviews, reading market analyses, and researching forums and communities related to that cryptocurrency. These sources will help investors get an overview of the project and increase their ability to make smart decisions.

Challenges in Practicing DYOR: Tips for New Investors in the Cryptocurrency Market

However, performing DYOR is not a simple task and requires patience, knowledge, and high concentration. In particular, new investors in the market may have difficulty starting to practice DYOR. To help, they can refer to cryptocurrency communities, find guides and tips from experts to minimize investment risks.

The Benefits and Limitations of DYOR in Cryptocurrency Investments

Overall, DYOR is an important part of the cryptocurrency investment process. It helps investors get an overview and accurate assessment of a specific cryptocurrency project before making investment decisions. A careful and proper way of practicing DYOR can help investors minimize risks and increase opportunities for success in cryptocurrency investments. However, investors should remember that DYOR does not guarantee 100% success, and there is always a degree of risk in cryptocurrency investment. Therefore, ensure that investment decisions are based on various information, and risk levels are accurately assessed.

80% of SHIB hodlers currently at a loss, according to data from IntoTheBlock. On average, 4 out of 5 SHIB investors are in the red due to their holdings. Based on this data, 80% of all Shiba Inu hodlers are "out of the money" which equates to 991,440 addresses holding 497 trillion tokens, with a total value of $4.4 billion.

Currently, Shiba Inu is ranked sixth among the largest cryptocurrencies in terms of the proportion of addresses at a loss. With a market capitalization of $5.19 billion, only SHIB worth $668.4 million provides profits for hodlers.

Notably, many of these unprofitable addresses bought Shiba Inu within the price range of $0.000009 to $0.000014. According to IntoTheBlock, there are 348,170 such addresses holding an extremely large volume of 281.12 trillion SHIB.

If SHIB prices continue to decline as they have over the past four weeks, a situation could arise where the last person holding the token will be the ultimate loser. This certainly adds more pressure to SHIB right now.

#SHIB #Meme

Details of CYBER Token Sale on CoinList

What is CyberConnect?

CyberConnect is the largest and earliest decentralized social network of Web3, allowing developers to create social applications that enable users to own their digital identities, content, connections, and revenue streams.

It includes three user-centric features:

CyberProfile: a decentralized identity standard that provides access to Web3.

CyberConnect Social Graph: linking your digital identity, data, content, and friends.

CyberWallet: a smart contract wallet that securely stores your digital assets and provides an easy entry to Web3.

As of April 2023, the CyberConnect protocol has 887k CyberProfiles and 327k active wallets that have performed over 7.3M transactions. More than 1,900 verified organizations use their CyberProfiles to build Web3-native audiences, including Messari, Lido, 1inch, CoinMarketCap, Mocaverse, and more. CyberConnect’s flagship DApp, Link3, has 940k monthly active users.

Key Highlights

CyberConnect is the earliest and largest decentralized social network of Web3. Launched in October 2021 as the first social network protocol of its kind, CyberConnect has grown significantly, attracting 327k monthly active users who have performed over 7.3M transactions.

Ecosystem

Over 50 projects are using CyberConnect’s social network infrastructure to provide new user-centric applications.

Some notable projects include:

Link3: a Web3 social network with posts, events, and loyalty programs.

Phaver: a decentralized social media platform with 110k unique weekly active users.

ReadON: a Web3 content aggregator app with social features and read-to-earn.

Dopamine: a user-centric cryptocurrency mobile app from start to finish;

Oasis: a virtual universe where 1M users interact daily.

Mocaverse: an Animoca Brands NFT member collection.

Galxe: a Web3 data information network for authentication.

Developer-friendly:

Multi-chain & Scalable: CyberConnect has been deployed on Ethereum, BNB Chain, and Polygon, and will soon expand to other EVM-compatible chains.

The decentralized social network protocol also provides a hybrid storage solution that combines decentralized storage on and off the blockchain. This allows developers to be flexible while serving users with a seamless and appropriate product experience, surpassing the Web2 social experience.

The sale date is May 18th, 2023 at 17:00 UTC.

The price and Lock-up Terms are $1.80 per token. 25% will unlock at TGE followed by linear release over 6 months starting in Q4 2023.

The Fully Diluted Network Value is $180,000,000.

The number of tokens being sold is 3,000,000 CYBER tokens.

The % of Total Supply being sold is 3%. Minimum and Maximum: Minimum purchase: $100. Maximum purchase: $500. Additional Allocation Requirements*: Minimum Requirement: $100. Maximum Requirement: $2,000.

The funding method is USDC, USDT.

Eligible Members include non-US, Canadian, Chinese, Korean residents and some other regions.

Multi-chain & Scalable: CyberConnect has been deployed on Ethereum, BNB Chain, and Polygon, and will soon expand to other EVM-compatible chains.

The decentralized social network protocol also provides a hybrid storage solution that combines decentralized storage on and off the blockchain. This allows developers to be flexible while serving users with a seamless and appropriate product experience, surpassing the Web2 social experience.

The sale date is May 18th, 2023 at 17:00 UTC.

The price and Lock-up Terms are $1.80 per token. 25% will unlock at TGE followed by linear release over 6 months starting in Q4 2023.

The Fully Diluted Network Value is $180,000,000.

The number of tokens being sold is 3,000,000 CYBER tokens.

The % of Total Supply being sold is 3%. Minimum and Maximum: Minimum purchase: $100. Maximum purchase: $500. Additional Allocation Requirements*: Minimum Requirement: $100. Maximum Requirement: $2,000.

The funding method is USDC, USDT.

Eligible Members include non-US, Canadian, Chinese, Korean residents and some other regions.

Tokenomics

Aligning with the project’s vision of building a user-owned and developer-friendly decentralized social network, the introduction of the CYBER token and CyberDAO are crucial steps in empowering the project’s protocol governance to a decentralized community.

CYBER will play a fundamental role in ensuring and governing the DAO, controlling the future use of funds as well as all core upgrades to the protocol infrastructure. CYBER will provide the following utilities for the decentralized social network protocol:

Governance

CYBER token holders will vote on CyberConnect Improvement Proposals to promote the long-term sustainable success of the CyberConnect Protocol. Upcoming proposals include activating service fees for fee-based transactions across the entire protocol; changing the service fee rate; changing the accepted tokens for payment; expanding the protocol to new blockchains; allocating budgets for developer subsidy programs, community contribution programs, offline and online community events for ecosystem development.

Payment for minting CyberProfile

CyberProfile serves as an entry point for both developers and users into the CyberConnect ecosystem. CYBER will be used as a currency to pay for the purchase of premium usernames when minting CyberProfile.

Payment for Gas in CyberWallet

CyberWallet – the upcoming smart contract wallet solution by CyberConnect, will provide users with a seamless Web3 onboarding experience without the need for seed phrases or purchasing native tokens for gas fees across different blockchain ecosystems.

CYBER will be used as a pricing unit and means of payment for gas fees for all transactions within CyberWallet on EVM-compatible chains. CyberWallet is still under development and will be available on Ethereum, Optimism, Arbitrum, BNB Chain, Base, and Polygon.

CYBER will have a total supply of 100,000,000 tokens with the distribution as follows:

Roadmap