🔔 Introduction:
Recently, on-chain social + AI projects are coming one after another, but few have truly landed in user experience. @Cyber is one of the few that focuses on social as a priority, operating on an Ethereum Layer 2 base using OP Stack, controlling costs with EigenDA, layered with AI assistants and social data management. Today, it surged in price due to trading on Upbit.
1️⃣ Project Overview:
Cyber was originally called CyberConnect, and it was renamed to Cyber when the mainnet launched in 2024. It also established Link3 as a standalone application brand. It joined the Optimism Superchain ecosystem with the goal of moving users' identities, relationships, and content on-chain, making this data the user's own asset rather than the platform's private territory.
2️⃣ It currently has three core products:
🔸 Cyber Network: The chain itself, providing a high-performance, low-cost operating environment for social applications.
🔸 Cyber AI: A dedicated AI for the crypto space, turning on-chain and social data into usable insights.
🔸 @Surf: AI-driven, a one-stop platform for news, project analysis, and executing trades, currently in early access.
3️⃣ Other Product Highlights:
🔸 Fee Reduction Architecture: Based on OP Stack, data stored using EigenDA to lower transaction and storage costs.
🔸 User-Friendly Experience: Native account abstraction (RIP-7560 route), supporting Passkey login, Paymaster for gas fees, aiming to reduce chain perception.
🔸 Security and Staking: Introducing EigenLayer AVS as sequencer/verifier/CyberDB, with CYBER participating in staking, allowing stakers to share in revenues and incentives.
🔸 Social Data Infrastructure: CyberDB provides verifiable storage and synchronization, specifically serving social applications.
4️⃣ Financing and $CYBER Token:
Cyber raised approximately $25M through two rounds of private funding in the early stages, followed by a public offering on CoinList of about $5.4M (at a unit price of $1.80). The total supply of tokens is 100M, with an initial circulation of 11,038,000.
Starting in 2024, CYBER will adopt the LayerZero OFT standard to achieve multi-chain circulation (Ethereum as the Home chain, OP, BNB, Cyber, etc., as Remote).
Today, Upbit announced the launch of CYBER/KRW and CYBER/USDT, with prices reaching $5 at one point, a daily increase of about 130%, and significantly increased trading volume.
5️⃣ Latest Developments:
➤ Surf Beta Test: The official early access is open, continuously refining the one-stop interface, and will later add chat-style transaction functionality.
➤ Ecosystem Incentives: The plan for the first year is to allocate 2M CYBER to stakers and developers, in addition to a $2M fund to support applications.
➤ Technical Roadmap: Continuously advancing native account abstraction, data availability optimization, and decentralized sequencer deployment.
🎯 Final Thoughts:
I personally feel that Cyber's idea is correct; putting social primitives on-chain is an inevitable direction, especially as more and more people begin to value data sovereignty. However, to pull users from Web2 to the chain, the experience must be seamless and almost imperceptible, which is the most challenging aspect. For instance, cold starts and retention, whether the social ecosystem can succeed depends on whether it can retain people and developers; whether it can remain fast and cheap as it scales; and whether AI capabilities can continuously provide effective signals that give users an edge.
Today's volume increase is more of a market effect; after the hype fades, the product and ecosystem will be key to determining how far it can go. My suggestion is to continue monitoring its product progress and on-chain data to ensure sustained activity.
This article does not constitute any investment advice! Investors need to carefully assess risks #DYOR
🤝 Thank you everyone!
