CyberConnect is one of the SocialFi ecosystems that has received a lot of attention in recent times, especially after the impressive growth of the CYBER token from 3.5 USD to 15 USD. In this article, let’s update the CyberConnect ecosystem with Weakhand to see if there’s anything special.
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- What is CyberConnect? CyberConnect cryptocurrency overview
- CyberConnect V3 Review: Creating a new future for Web3 Social
- Real Builder in Winter | CyberConnect and talking numbers
What is CyberConnect?
CyberConnect is a decentralized social network protocol (Social Graph) with the aim of putting governance directly into the hands of creators and their communities. CyberConnect provides the necessary infrastructure so developers can easily build their applications and an environment where content creators can interact directly with their audiences without going through a third party. intermediate.
CyberConnect has now launched version V3 in July 2023, introducing 3 core components including:
- CyberAccount: Represents a user account within CyberConnect’s ecosystem. Additionally, CyberAccount is ERC-4337 compatible, eliminating the complexity of network migration and gas payment for users.
- CyberGraph: Is a set of Smart Contracts that link a user’s identity (CyberAccount) to their content and social connections, and enable the recording of that rich social data to a decentralized storage platform such as: IPFS or Arweare.
- CyberNetwork: Currently popular Blockchain platforms such as: Ethereum, … have a limitation: high gas fees, which will affect the accessibility and user experience. Therefore, CyberNetwork was born to make interactions/transactions on social networks much cheaper.
Overview of On-chain Metrics on CyberConnect
After launching the sale on Binance Launchpool and Airdrop to users, we are witnessing a sharp decrease in the number of daily users on CyberConnect. From more than 50k daily Active users in June 2023, up to now the number of daily active users is only fluctuating around 200 – 500 Users. This may come from users leaving when CyberConnect’s Airdrop activity has taken place and the dApps in CyberConnect’s ecosystem are not good enough to retain users.
Daily Active User on CyberConnect
The daily number of CyberTrek NFT mints is also decreasing significantly and in recent times there has been almost no new mint activity appearing. This shows that the number of new participants in the CyberConnect ecosystem is almost negligible.
Daily amount of CyberTrek NFT mints
The number of Content Collected Daily – representing user collections in posts on CyberConnect is also witnessing a sharp decline since peaking in March 2023. At the present time, there are only about 200 – 300 Collects daily, much lower than the peak of more than 200k Collects set in March 2023.
Content Collected Daily
Overall, the On-chain metrics on CyberConnect at this time are quite bad and show that CyberConnect’s ecosystem is losing its appeal to users.
CyberConnect’s Outstanding Activities
After opening for sale on Coinlist in May 2023 and launching on Binance Launchpool in August 2023, CyberConnect is receiving a lot of attention from the community.
Especially CYBER – Token used in CyberConnect’s ecosystem has had impressive growth from 3.5 USD to 15 USD. However, after that growth, CyberConnect also encountered controversy in the case of the CP-1 proposal to unlock 10M CYBER Tokens to resolve the loss of liquidity between Cross chain bridges.
Specifically, the CyberConnect team has proposed to unlock Tokens in the Treasury to provide liquidity in the amount of 7M CYBER on the BNB Chain network and 3.8M CYBER Tokens on the Ethereum network. However, after a short time later, the proposal was canceled with the reason that the intended purpose was to only use 1.1M Cyber Tokens, but due to incorrect data entry, such a situation occurred.
Ignoring the controversy surrounding the lack of liquidity of CYBER Token, CyberConnect’s development team has had active activities in expanding and attracting more users to its ecosystem, let’s join Weakhand to find out.
CyberTrek – Delivers exciting Web3 experiences through CyberAccount
CyberTrek is a 2-month journey consisting of mini-treks taking place every 2 weeks introducing users to exciting Web3 experiences through CyberAccount. When participating in CyberTrek, users not only have the opportunity to earn rewards and meet leading Web3 development teams such as 1inch, OKX, … but also expand their knowledge about Account Extraction and its applications in completely changing the user experience in the Web3 world.
To participate in CyberTrek, users must claim the CyberConnect V3 Evangelist NFT then a CyberAccount will be automatically created. Users need to add money to CyberAccount to use their account. Up to now, more than 500k CyberAccounts have been deployed on Linea, Polygon, Optimism and Base. This shows the success of the CyberTrek campaign in bringing more people into CyberConnect’s ecosystem.
Deploying CyberConnect Community Rewards Season 1
After launching on Binance Launchpool, CyberConnect also conducted an airdrop for users to participate in active activities on its ecosystem. Those who own Mystery Box, The Shards, Mini Shards, W3ST and CyberProfile under 11 characters will receive an Airdrop from the owner.
Deploy CyberConnect to many new Blockchains
True to its original purpose, CyberConnect deploys Multichain on many different Blockchains to reach a large number of users in the Crypto market. On August 9, 2023, CyberConnect announced its presence on Base and was shortly followed by its appearance on Arbitrum. Most recently on October 5, 2023, CyberConnect announced its deployment on opBNB – Layer 2 network of BNB Chain. With this integration, CyberAccount now supports 6 Blockchain networks and is ready to become one of the leading SocialFi platforms on the market today.
Deploying CyberConnect Community Rewards Season 2
In the 30 days following the launch of Community Rewards Season 1, over 130,000 wallet addresses received 2.2M CYBER Tokens (the remaining 97,243 CYBER were transferred to the Community Treasury). Community Rewards Season 2 was launched on September 22, 2023 and CyberConnect introduced the CyberPoints system integrated into CyberAccount accounts. CyberConnect’s team will base on the number of CyberPoints to reward users.
CyberConnect Ecosystem Update
Below are some outstanding updates from projects in the CyberConnect ecosystem:
Link3 – Fan Club Points Updated & fully integrated with CyberConnect
Community engagement plays an important role in the Web3 world, promoting collaboration and building awareness among early users. Link3 has been at the forefront of this movement, especially with its Fan Club loyalty program, where community members earn rewards for contributing to the CyberConnect ecosystem.
Since its launch in March 2023, more than 1M Web3 wallets have joined the Fan Club. However, Fan Club will officially stop operating on September 13, 2023 and all Fan Club Points will be used to redeem lottery tickets to be converted to rewards in CyberConnect Community Rewards Season 2 activities. In addition, Link3 is also fully integrated with CyberConnect V3 and users can use their CyberAccount on Link3 for a variety of activities including creating W3STs.
Phaver – A Social Apps successfully raised 7M USD
Phaver successfully called for 7M USD
Phaver is a Web3 Social platform developed on Lens Protocol and CyberConnect. Phaver is a Social Apps with features similar to Twitter on mobile devices where users can log in with Facebook, gmail accounts and link their profiles using Lens or CyberConnect domains.
Since its launch in May 2022, Phaver has received more than 250,000 downloads and has a passionate community that creates more than 50,000 Posts every day, making Phaver one of the leading Social dapps on the market. Currently.
On October 11, 2023, Phaver announced the successful call for 7M USD from investment funds Polygon Ventures, Block Infinity, Kyros Ventures,… Hopefully this amount of money will help Phaver increasingly improve its application. yourself and attract more new people.
summary
After the Airdrop activity ended, the CyberConnect ecosystem no longer received much attention from the community. This is shown by the number of daily active users decreasing significantly compared to June and July 2023. Therefore, CyberConnect needs clearer strategies to attract users to its ecosystem. Above is all the information I want to update about CyberConnect, hope everyone has received useful knowledge.
