Cyberconnect; social graph protocol built on EVM
CyberConnect is a decentralized social graph protocol that helps with network effect scalability in Web3 applications. CyberConnect, an EVM-compatible protocol, allows users to completely control their social identities, contents, and connections in a social network while also offering developers a comprehensive set of tools for designing apps that provide meaningful social experiences.
Similar to the Uniswap protocol, the CyberConnect protocol employs generative smart contracts to produce new smart contracts connected with dApps or users as they interact with them. These smart contracts enable dApps to build context-specific on-chain social networks and users to issue flexible NFTs to profit from their social data.
Launched in November 2021 by Wilson Wei, Ryan Li, Shiyu Zhang, and Zhimao Liu, CyberConnect has grown considerably, attracting thousands of monthly active users who have conducted more than 7.3 million transactions.
Why decentralized social graph
Because of censorship, lost creator value, segregated and duplicated data, and hindered innovation, the world requires a decentralized social graph. Because we have centralized control over our social data, a few huge corporations have total influence over how social attitudes, ideas, and information are spread.
This censorship takes several forms, including politically motivated platform suspensions, government-based censorship, and unsolicited censorship. Social media material adds so much value to the world, yet Web 2.0 content providers only get a fraction of that value. Data is segregated and duplicated, resulting in significant switching costs and time waste. Independent developers are also unable to study that data and build viable products on top of it because of stifled innovation.
While smart contracts give programmability and allow developers to utilize greater feature potential, they can also suffer from scalability concerns and high gas prices. It is critical that we provide a mechanism to store social content and connection data, which might number in the billions, in a decentralized, self-sovereign, and scalable manner.
CyberConnect offers Scalable Storage Modules (SSM) for writing social data in decentralized storage (Arweave) with assurances of data sovereignty (that data cannot be fabricated), integrity (that data cannot be changed in an unauthorized manner), and availability (that data cannot be restricted). The SSM, at a high level, supported four distinct sorts of activities.
How CyberConnect works
CyberConnect social data can be deployed using three main contracts (all implementations of the ERC721 standard):
CyberProfile is an NFT created using the CyberConnect protocol. It is used to represent the profiles of users as NFTs and serves as a requirement for users who want to issue their customized EssenceNFTs or SubscribeNFTs.
CyberProfile also grants users access to perform actions such as collecting essence, creating a profile, and subscribing to a profile in a specific dApp. Developers can include the CyberProfile into their dApp/protocol to make use of the existing network of identities developed by Link3 and other CyberConnect integrated protocols.
SubscribeNFT represents the one-way connection that exists between a CyberProfile holder and a subscriber. Each CyberProfile holder is allowed to issue a unique SubscribeNFT, which can be configured with rules like pay-to-follow (paid subscribers), hold-to-follow (token-gated community), etc.
The SubcribeNFT is very adjustable and can be used to represent unique social connections such as following, subscribing to a creator, friend relationships, organization membership, and involvement in events and communities.
EssenceNFT is a general NFT that individual CyberProfile holders can utilize for any type of content (for example, social networking postings, videos, and blog articles). It can also be designed with rules like pay-to-mint (crowdfunding), hold-to-mint (community participants), etc. Issuers can decide to make it a tradable NFT or a non-transferable soul-bound token (SBT).
CyberConnect profiles will allow users to own and monetize their social channels by enabling on-chain subscriptions, tipping, and more.
The launch of the CYBER token and CyberDAO are critical milestones towards handing over the administration of our protocol to a decentralized community, in keeping with our aim of creating a user-owned and developer-friendly decentralized social network. CYBER will play a critical role in safeguarding and controlling the DAO, which will control the future usage of the treasury as well as any basic protocol infrastructure updates.
Future developments of CyberConnect
While CyberConnect has developed an app, CyberChat, to show how social graph data functions, there are other developments on the way, Some of these include delegation of authority, where fans of a profile or piece of content can delegate their voting to the owner of the profile; the launch of DAO communities; and various events.
Tokenomics of CyberConnect
CyberConnect token (CYBER) is the native cryptocurrency of the CyberConnect protocol. CYBER will act as a governance and utility token. As a governance token, CYBER token holders will vote on CyberConnect Improvement Proposals to drive the sustainable long-term success of the CyberConnect Protocol. These proposals include activating a service fee, changing the take rate, and expanding the protocol to new blockchains.
For utility, CYBER will be used as the de facto currency for payment when purchasing CyberProfile with a premium username; CYBER will be utilized as the price meter and method of payment for gas costs for all CyberWallet transactions across EVM-compatible chains. CyberWallet is still in the works, however, it will be accessible on Ethereum, Optimism, Arbitrum, BNB Chain, Base, and Polygon.
CYBER will play a key role in enabling protocol-wide governance and utility, recognizing and rewarding dedicated supporters, and incentivizing new users to engage with its ecosystem dApps. 12% of the total supply has been reserved in a reward pool for the CyberConnect community, 20% for early adopters, and 80% for contributors in future campaigns. The total supply of CYBER is 100,000,000 tokens.
According to the team, CYBER will be available for sale to the public through CoinList on May 18, 2023. The sale will bring 3% of the total supply of 100,000,000 CYBER into circulation. While registration is open for users to participate, the closing date is May 15, 2023, at 12 p.m. UTC.
Early adopters and dedicated contributors to the CyberConnect protocol will be able to join the Priority Queue for the upcoming CYBER public sale on CoinList. Eligibility for the Priority queue will be evaluated based on criteria such as CyberProfile (ccProfile) owners with premium handles, user level in CyberConnect FanClub, Discord role, and more.
Projects using CyberConnect Protocol
More than 50 projects are utilizing CyberConnect’s social network infrastructure to power exciting new user-focused applications. Some notable projects include Link3, a Web3-native social network; and Phaver, a decentralized social media platform with 110k weekly unique active users.
Others are ReadON, a Web3 content aggregator app; Dopamine, an end-to-end user-centered crypto mobile app; Oasis, a metaverse where users socialize; Mocaverse; an Animoca Brands membership NFT collection; Galxe; QuestN; Huddle01; Wondera; Atticc social NFT, and more.
CyberConnect has 875,000 CyberProfiles and 300,000 monthly active users, with over 1,900 verified organizations using them to build a Web3-native audience. It is backed by Multicoin Capital, Sky9 Capital, and Animoca Brands, and has raised over $25 million since its inception.
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