According to TechFlow, CyberConnect released an emergency proposal [CP-1], which suggested taking the following 3 steps to ensure the liquidity balance of CYBER between Ethereum, Optimism and BNB Chain networks.
1. First, the Foundation deployed the CYBER-ETH, CYBER-BSC, CYBER-OP bridges powered by LayerZero’s ProxyOFT.
2. Secondly, the CYBER unlocked by Cyber DAO and its Treasury will be used to provide liquidity for such bridges. In order to avoid excessive risk from any bridge, we plan to keep 25,000 CYBER-ETH, 25,000 CYBER-BSC, and 25,000 CYBER-OP in the bridge at the beginning, and dynamically change the liquidity provided. All unlocked CYBER in the treasury, totaling 7,000,000 CYBER-BSC and 3,888,000 CYBER-ETH, can be used to maintain the liquidity of the bridge service. Providing bridge services will not affect the total supply of CYBER.
3. Third, when there is an imbalance in CYBER liquidity between networks, the Foundation will need to burn and mint CYBER to restore the balance of CYBER within the treasury. For example, if within the Treasury, CYBER-ETH is exhausted, and CYBER-BSC and CYBER-OP have a total of 10,888,00 CYBER, the Foundation will destroy some CYBER-BSC and CYBER-OP to mint an equal amount of CYBER-ETH.
Currently, the proposal has received 61,000 CYBER votes in support, accounting for 99.99% of the total votes. Improving cross-chain liquidity means that the price difference of CYBER between trading platforms may be gradually "leveled" by block movers.
The team explained that this proposal vote is a one-time exception, and considering the interests and urgency of time, the proposal will not comply with the DAO's 7-day voting period policy, and the voting will end at 16:19 this afternoon.
