CyberConnect is a decentralized social graph protocol built on the Solana blockchain. It aims to create a web3 social graph that connects user identities and data across different social networks and the metaverse. The CYBER token is the native utility token that powers the CyberConnect ecosystem.
The Project Background
CyberConnect was founded in 2022 by CEO Jack Lu. It conducted a $10 million seed funding round led by investors like Solana Ventures, Alameda Research and Polygon Ventures.
CyberConnect seeks to solve the problem of fragmented social data across isolated platforms. It wants to build an open social graph making user data portable.
How CyberConnect Works
CyberConnect enables creating a persistent decentralized identifier (DID) that serves as a user’s singular digital identity across any web3 ecosystem. This DID binds together the user’s social connections, content, reputation and interactions into a portable cross-platform social graph.
Developers can build on top of the CyberConnect API to enable deep social integrations for web3 apps. Users join the ecosystem by installing the CyberConnect wallet.
Features and Utilities of CYBER Token
The CYBER token has the following utilities:
- Governance Rights. CYBER holders can submit and vote on proposals to steer CyberConnect’s development and growth. The system runs as a DAO.
- Staking and Validation. CYBER must be staked by nodes to validate user identities and process transactions. Staking earns rewards for validators.
- Reputation Scoring. Users need to stake CYBER to join the network. Higher staking builds reputation enabling access to more features.
- Payments and Transactions. CYBER is used to pay for transactions like linking social accounts or attesting to reputation. Users can send CYBER peer-to-peer.
- Discounts and Privileges. Holding and staking CYBER unlocks discounts, personalized features, and exclusive access depending on reputation level.
The CYBER Token Distribution
CYBER has a maximum supply of 1 billion tokens. The distribution is allocated as follows:
- 15% for the CyberConnect Genesis fund.
- 10% for seed sale investors.
- 25% for community incentives and the team.
- 50% for ecosystem rewards and the DAO treasury.
The CYBER supply is inflationary at a fixed rate to fund growth. However, governance by CYBER holders can alter the tokenomics.
CyberConnect offers an innovative solution to bring web2 and web3 social data together through a unifying user DID. The CYBER token powers this next-generation social graph protocol. With adoption, CYBER could become integral to web3 applications building socially-integrated metaverse ecosystems.