Palo Alto, California, March 08, 2024 (GLOBE NEWSWIRE) --
CyberConnect, web3’s earliest and biggest decentralized social network protocol, just announced the launch of Cyber, the first restaked modular Ethereum Layer 2 designed for social and optimized for mass adoption.
Powered by EigenLayer and Optimism, in partnership with AltLayer, Cyber serves as the social layer for web3 applications and the gateway for the next wave of users to access web3 experiences, tools and financial liquidity across all Layer 2 ecosystems.
Cyber Sepolia Testnet, secured by AltLayer, will be live next week. CYBER staking is now live where participants can earn CYBER Season 2 Rewards. At the end of the 3-month campaign period, up to 1M CYBER tokens are to be rewarded to stakers. Interested users and developers can find more information on cyber.co
Cyber is the latest offering from the team behind CyberConnect, the social network protocol, Link3, a professional networking platform, and CyberWallet, the industry-leading ERC-4337-compatible smart account solution. Since its inception, the CyberConnect social network protocol, with Link3 and hundreds of third-party ecosystem apps, has onboarded 2M+ users, who have cumulatively executed more than 20M transactions and spent $2.6M+ in gas fees. The team has received $25M in funding from Multicoin, Binance Labs, Animoca Brands, Hashed, The Spartan Groups, Delphi Digital, among many others.
Future is social
Social is the gateway to web3’s mass adoption.
The most used consumer products on web2 are social apps. Decentralized social reinstates true user ownership and can redistribute up to $150B value locked in Big Tech back to creators, users, and developers, creating a virtuous cycle for creativity and innovation.
Blockchain-based social networks also provide an excellent entry point for users to explore the wider onchain economy. The onchain economy overly focusing on financial activities can only engage a limited number of users. The rest of the world needs to onboard web3 because their friends are here.
Unfortunately, decentralized social apps in their current stage are insufficient to bring billions of users onchain. Developers must navigate the messy maze of poor blockchain user experience, high gas fees, and low blockchain throughput. Teams also have their backs against the wall when working with blockchain economies that are incompatible with their app economies.
Cyber is the first Ethereum L2 specifically designed for social, which helps developers build and scale web3 apps.
What makes Cyber different?
Cyber is committed to making ‘onchain’ the new ‘online.’ Here’s how it works under the hood:
◆ Scaling consumer apps while remaining Ethereum-aligned with Eigenlayer
Cyber can execute up to 100k transactions per second with ultra-low gas fees (<~0.01¢). Cyber also deploys a decentralized network, which will, in the future, be secured by dual staking of both ETH and CYBER.
◆ Committed to the Superchain vision with Optimism.
Gone are the days of locking users into one network or ecosystem. Committed to OP Collective’s Superchain vision, Cyber provides the social infrastructure for the ecosystem and empowers users and devs to access the entire onchain economy across Superchain.
◆ Onboarding a billion users with smart accounts.
Cyber natively supports account abstraction with EIP-7560, upgrading web3 onboarding to be as seamless as web2. Native EIP-7212 support empowers users to control their blockchain accounts with passkeys or FaceID.
◆ Cyber = Social
Cyber makes building and growing social apps 100x easier. The enshrined social graph assists developers in bootstrapping their apps and leveraging shared network effects. CyberDB, a cost-friendly & performant decentralized storage service powered by EigenLayer AVS, is the most competitive decentralized storage solution available to teams today.
◆ Economies that work
On Cyber, every network participant, from developers to users, earns economic rewards for contributing value. Earn native yield with your bridged ETH, LST, and LRT or grow your passive income through shared protocol fees.
Community rewards are not to be forgotten! And look out for more ecosystem rewards!
Roadmap
Stage 1 (Q2 2024): Testnet w/ governance framework. Stage 2 (Q3 2024): Mainnet w/ @EigenDA & decentralized verifier. Stage 3 (Q4 2024): CyberDB launch Stage 4 (Q1 2025): Native AA live
Cyber Sepolia Testnet will be live next week. And CYBER staking and CYBER Season 2 Rewards are live now.
For more information please visit cyber.co
About CyberConnect
CyberConnect is a web3 social network that enables developers to create social applications empowering users to own their digital identity, content, connections, and monetization channels. Messari, Rarible, 1inch, BNB Chain, along with 3,000+ projects and 2M+ users and creators are building long-lasting connections through apps built on CyberConnect.
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
