CoinList New Project CyberConnect Token Model Overview

Author: Leo, BlockBeats

On April 28, the Web3 social protocol CyberConnect announced the launch of its native token CYBER, with a public offering set to begin on CoinList on May 18. The total supply of CYBER is 100,000,000 tokens, with 3% allocated for the CoinList public offering, of which 25% will be unlocked after listing, and the remaining 75% will be unlocked linearly over 6 months. The registration deadline for this round of issuance is May 15 at 20:00 Beijing time. The public offering price is $1.8, while the institutional price for the Series A financing is $3.

CyberConnect is a Web 3 social network protocol that provides a platform for developers and users to own identities, content, connections, and tokenized channels. It includes three user-centric features: CyberProfile, a decentralized identity standard that provides access to Web 3; CyberConnect Social Graph, which links users' digital identities, data, content, and friends; and CyberWallet, the smart contract wallet of its protocol that securely stores user assets.

About CYBER and CyberDAO

CyberDAO is used for governance delegation of the protocol, while CYBER is its governance token. CYBER is used to protect and manage the DAO, which will control the future use of funds and all core upgrades of the protocol infrastructure.

CYBER will provide the following utilities for the CyberConnect protocol:

Governance

CYBER token holders will vote on proposals to promote the sustainable long-term development and improvement of the CyberConnect protocol. Upcoming proposals include: activating service fees for paid transactions through the protocol; changes to the service fee rate; changes to acceptable tokens for payment; expanding the agenda to new blockchains; budget allocation for developer funding programs and community contributor programs, as well as offline and online community activities for ecosystem development.

Payment for CyberProfile mint

CyberProfile is the entry point for developers and users into the CyberConnect ecosystem. When purchasing a CyberProfile with a premium username, CYBER will be used as the gas token.

Payment for Gas in CyberWallet

CyberWallet is CyberConnect's smart contract wallet solution, providing users with a seamless transaction experience without the need for mnemonic phrases or providing their blockchain native tokens as gas payment for different chains. CYBER will be used as the pricing and gas fee payment method for all transactions across EVM-compatible chains within CyberWallet. The CyberWallet is still in development and will be applicable to Ethereum, Optimism, Arbitrum, BNB Chain, Base, and Polygon networks.

CYBER Token Economics

The total supply of CYBER is 100,000,000 tokens, distributed as follows:

• Team and Advisors: 15%, locked for 15 months after listing, then unlocked linearly over 3 years quarterly;

• Private Sale: 25.12%, locked for 12 months after listing, then unlocked linearly over 3 years quarterly;

• Community Treasury: 10.88%, 10% unlocked at listing, the remaining 90% unlocked linearly over 5 years monthly;

• Community Rewards: 12%, 20% distributed to early users after listing, the remaining 80% allocated for future community rewards;

• CoinList Public Offering: 3%, 25% unlocked after listing, the remaining 75% unlocked linearly over 6 months monthly;

• Ecosystem Development: 34%, details below.

Ecosystem Development

• Ecosystem Partners: 9%, 20% unlocked after listing, 80% unlocked linearly over 4 years;

• Developer Community: 10%, 5% unlocked after listing, 95% unlocked linearly over 4 years;

• Early Integration Partners: 5%, 10% unlocked after listing, 90% unlocked over 3 years;

• Marketing: 10%, 10% unlocked after listing, 90% unlocked over 3 years.

Eligibility for Early Adopters and Contributors

Users with eligibility as early adopters and contributors of CyberConnect will enter a priority queue for the CYBER public sale on CoinList. The criteria are as follows:

• Owners of CyberProfiles with premium handles;

• Holders of different levels of FanPass NFTs from the CyberConnect FanClub;

• Holders of W3ST;

• Early Discord users (the first 1,000, 10,000, and 100,000 users to join Discord);

• Holders of Link3 Mystery Box and The Shards series NFTs;

• Holders of NFTs from previous community events, verified Web3 Dwellers, Connect2022 Grand NFTs, #Let'sCyberConnect Season 1 POAP, Community Treasure Hunt OATs;

• Donors to CyberConnect on Gitcoin.

A snapshot was taken on April 26, 2023, at 9:00 (UTC). To obtain priority purchase eligibility for CYBER, eligible Ethereum addresses must be added to the CoinList account before the registration ends, which is on May 15, 2023, at 12:00 (UTC).