AMA RECAP — Whale Blockchain Enthusiast with CyberFi
On 30th December 2020, CyberFi conducted an AMA in the Whale Blockchain Enthusiast. Our guest is Darius, co-founder and CMO of Cyberfi
Lots of questions as usual from the Community about CyberFi progress. The CyberFi team took part in a very interesting AMA session which included Project introduction, Questions from twitter, and a live AMA session with the Whale Blockchain Enthusiast community. If you missed the AMA in person, read this recap for a deeper insight into CyberFi.
Let’s take a look at the most interesting points of our conversation.
🐳 Segment 1: Project introduction
Can you introduce yourself and introduce CyberFi to our community?
Darius | CMO CyberFi: Sure! I am in crypto since the end of 2016 so I’ve already managed to see hot and cold in the market. Been involved in traditional finance with hedge fund, worked with governments in fintech projects, worked with blockchain startups and co-founded Bitcoin Mandates -an OTC company based out of UK. Since late summer I’m a co-founder and CMO of Cyberfi.
CyberFi is an Automation Platform enhancing the DeFi space, making the management, risk-mitigation and trading easier for the mainstream users and much more interesting for advanced users. It’s like a layer on top of the DeFi application we see today and through this layer users have the ability to automate their activity. The goal is to destroy the manual nature of DeFI bringing a wide range of problems.
We have developed CyberFi because there was no tools for risk mitigation, control, no tools to automate LP strategies. We strongly believe that CyberFi has the potential to re-define the DeFi asset management experience
Recent Hackernoon article sums up very well https://hackernoon.com/defi-lacked-cohesion-and-automation-until-now-1w1p34wg
What products and services does CyberFi offer users or investors?
Darius | CMO CyberFi: Good question. Well, it’s the Cyberfi platform. It allows users to run a series of events that were not possible before. Starting from LP management with function add or remove liquidity, that can allow creation of different complex strategies or provide impermanent loss risk mitigation if used correctly. Another key functionality is cross-token limit orders that allows the user to pre-set the parameters for an automation Scenario to buy Token Z with the trigger being a change in the price of Token X
This sums up all the functionality and you can apply to test the Beta platform
CyberFi BETA Event is LIVE!⚡️⚡️⚡️
BETA supports:
✅ Token Buy/Sell Limit orders
✅ Limit orders on LP management based on Price Triggers
✅ Automated Exit from Liquidity Mining Events
🔖❗️Register to test BETA: shorturl.at/jzDRV
Full info: https://medium.com/cyberfi/cyberfi-beta-event-4b98cd8b3d7c
Can every user test the beta platform?
Darius | CMO CyberFi: Any user that meets the criteria. We want users that are active in DeFi ecosystem and are actively using LP, yield farming and trading on uniswap, so that they can make the nose use of our Crete’s tools and provide us with the feedback so we can make any necessary adjustments to improve user experience
If you click on the link for the application form you will find all the criteria listed.
How many users currently have tried the beta platform?
Darius | CMO CyberFi: Initially we have set the number to allow 100 users, but we will certainly open additional entries to fulfil the increasing demand
Can you explain the $CFI tokenomics? As well as the utility of the $CFI token? And are there any long-term benefits for $CFI holders?
Darius | CMO CyberFi: CFi holders will benefit from lower fees as well as it will be used for governance. We are a community driven project and want to involve all token holders to decide on things such as what future automation tools should be developed, which dex’s should be integrated next and so on. Also, CFi holders will get access CyberFi exclusive products.
You can find more info in our white paper: https://drive.google.com/file/d/1PJN0-2XN3PwwKjlHAMRTA6qCuYkPeWyA/view
What features does CyberFi have and What makes CyberFi different from other DeFi projects?
Darius | CMO CyberFi: What makes us different is that we are ahead of the game and developed tools that every DeFi user needs. On top of that, we are non-custodial 2nd layer solution that can integrate any dex or dapp, and that gives us huge benefit against other projects. Also, just wanted to make sure that everyone knows about our staking portal that has been launched right before Christmas.
We are thrilled to announce — CyberFi Staking Launched on 23rd December! ⚡️⚡️⚡️
Overall 35 000 $CFi in rewards!
$CFi Staking Total Rewards: 10 000 $CFi
$CFi/ETH Uniswap LP Staking Total Rewards: 25 000 $CFi
Load up your Christmas bags!🎄
Full info: https://medium.com/cyberfi/cyberfi-staking-launch-cfi-and-cfi-eth-lp-290aeb2879e5
36 hours from staking platform launch. Over 15% of circulatiing supply staked. 500 000$+ in $CFi and $CFi/$ETH LPs.
⚡️⚡️⚡️
Beta Event Launched. Join the DeFi Automation Future with CyberFi.
https://twitter.com/cyberfi_tech/status/1342416670283993089
BETA is live and ready to be tested!
If you haven’t registered yet, here is the link to apply https://forms.gle/ouiRqq2zB69Q9KUM8
https://stake.cyberfi.tech/ 36 hours from staking platform launch. Over 15% of circulatiing supply staked. 500 000$+ in $CFi and $CFi/$ETH LPs.
⚡️⚡️⚡️
Beta Event Launched. Join the DeFi Automation Future with CyberFi.
https://twitter.com/cyberfi_tech/status/1342416670283993089
What has CyberFi achieved so far? And what plans will be carried out in the future?
Darius | CMO CyberFi: We’ve been very busy since the launch and developed beta platform that is open for testing. We established very important partnerships just within a month. We’ve launched our staking portal that was anticipated in January
Our monthly recap sums up pretty well: https://telegra.ph/ONE-MONTH-RECAP-12-13
🐳Segment 2: Questions from the Twitter
Question from @cengizhantekin
CyberFi will enable users to create cross-chain automated complex event scenarios. What kind of senarios are you talking about here, can you provide some samples? And can these users be anyone or is that for developers / technical people?
Darius | CMO CyberFi: CyberFi will enable users to create cross-chain automated complex event scenarios. This would allow CFi holders to effectively move over a part of their cryptocurrency funds onto a different network or participate in an event or an exchange.
It would also allow users to transfer their funds into a cross-chain token like USDT or any of the wrapped tokens, do a number of TXs and return safely to their preferred blockchain such as BSC, Solana, COSMOS, Polkadot etc
This will be available for all users not just for developers or technical people
Question from @auvantam1
Cyberfi uses Price Triggers to automate your trading and protect yourself from DeFi volatility. Can you explain more about how does the Price Trigger being utilized in your network? How can be the price being automated by price trigger ?
Darius | CMO CyberFi: Ok, the price is not automated by price trigger. But trading can be. So for example with CyberFi you can pre-define price levels to purchase or sell tokens. Or, if you are participating in LP or yield farming, if native token value plummeted, you can actually mitigate the risk of impermanent loss that accurately due to high volatility of one of the tokens in pair. And on top of that, you can exit the LP position completely if native token value drops let’s say from $10 to $5 (and that is your price trigger) you can unstake, remove liquidity and sell native token in one, pre-set action using CyberFi platform
Question from @PabloE2Gaviria
As we know, There are so many DeFi sector problems. As:
• Large Fees
• User Experience
• Barriers to Entry
• Divergence / Impermanent Loss
Then, how does CyberFi solve the problems I mentioned above? Is able to solve that problem.
Darius | CMO CyberFi: Spot in question, CyberFi tackles all of these aspects combined. User can pre-set the parameters for one action that will not only reduce the fees, but will save time and frustration from trying to do everything manually and getting stuck with pending transactions due to the peak of gas cost.
We ant to make DeFi experience so smooth and simple that even your grandmother could use it. Currently, pretty much all actions are manual and that creates the complexity for a new user to participate in DeFi. We are trying to eliminate manual nature of DeFi. Divergence and impermanent loss was already discussed earlier
Want to share some useful links for WBE community
Announcing YFLinkio x CyberFi Partnership. Bringing Automation to LinkSwap, Introducing Staking⚡️ and ⚡️ CyberPunk 2077 Giveaway⚡️
CyberFi — a new-gen Intelligent DeFi Automation Platform. Your DeFI 2.0 platform.⚡️
Let’s recap CyberFi latest news — In just 2 weeks after launch we have:
1. Burned over 300 000$ worth of liquidity forever (now costs over 0.5m$)
2. Released WhitePaper — available on the cyberfi.tech website
3. Alpha Tester Event Launched — Alpha Product Release
4. First Long Term Integration — TrustSwap
5. First VC Strategic investor — MAGNUS CAPITAL.
6. Integration and collaboration with Unilend
7. Jeff Kirdeikis, CEO at TrustSwap joins CyberFi as Advisor
8. Austin Merrics, Co-Founder at XIO Network joins CyberFi as Advisor
9. Crypto Zombie Amazing Review: https://youtu.be/94EG5QiT3tY?t=825
10. Ivan on Tech review https://youtu.be/8T5CKSQuJBg?t=2030
11. First Development Update https://medium.com/cyberfi/cyberfi-strategic-partnership-and-vc-investor-announcement-db27e68b9a5
12. First NFT published
And just recently — partnership with Ferrum Network!
More exciting updates are coming soon!
Coingecko: https://www.coingecko.com/en/coins/cyberfi
⚡️ 🦄 Buy $CFi on Uniswap
https://app.uniswap.org/#/swap?inputCurrency=0x63b4f3e3fa4e438698CE330e365E831F7cCD1eF4
⚡️ Add liquidity $CFi/$ETH on Uniswap 🦄
https://app.uniswap.org/#/add/ETH/0x63b4f3e3fa4e438698CE330e365E831F7cCD1eF4
⚡️ $CFi Uniswap Analytics 🦄
https://info.uniswap.org/pair/0x63b4f3e3fa4e438698CE330e365E831F7cCD1eF4
⚡️ $CFi on DexTools ⚙️
https://www.dextools.io/app/uniswap/pair-explorer/0x36938d1419b717c97ebdb273702806ca73f89a4c
Stay tuned for the next announcements!
🐳Segment 3 : Free Asking / Live Questions
Telegram User: Currently DeFi project is on fire. But you know very well that, contract security is a big issue in DeFi. Has your smart contract been audited? How do you guarantee the protection of users’ funds?
Darius | CMO CyberFi: We are not and exchange or yield farming project that holds users funds, we are non-custodial platform that allows you to navigate within DeFi Dapps without taking control of your funds. However, security is one of the key aspects of focus and Yes, we’ve passed security audits and working
Telegram User: How does CyberFi enable seamless interoperability between networks with low transaction fees? Will the $CFI token help me work with multiple networks? Will my commission rates be lower if I use it?
Darius | CMO CyberFi: We will be able to allow that through strategic partnerships and using oracles. CFi holders will benefit from lower fees as well as multiple exclusive products
Telegram User: How is the CFi token used? How to keep motivated to hold CFi tokens for a long term?
Darius | CMO CyberFi: Currently you can use CFi for staking on our staking portal to earn more CFi https://stake.cyberfi.tech
As for the long terms, I think our speed of development and steadily increasing market cap speaks for itself
Telegram User: Community is a very important part of a crypto project like CyberFi How many local communities do you have in non English countries and how are you going to spread your project in those countries?
Darius | CMO CyberFi: Community is certainly very important for us. At the moment we have our main English speaking community here on Telegram and Discord. We’ve also created a discord text channel for Russian and Chinese speaking communities. We will certainly look to expand and establish regional community channels
Telegram User: What can we expect to see from this project in the short-term (at some point in 2021) and 2022 and beyond (long-term goals)?
Darius | CMO CyberFi: You can see upcoming milestones in our roadmap. Currently we are a bit ahead of our roadmap and focusing mainly on developing and polishing the platform and functionality. There are many exciting partnerships in our plans and in the long run we hope to become something similar to Binance of DeFi
Telegram User: Defi and yield farming grows day to day so do you plan to add more features for CyberFi on those topics?
Darius | CMO CyberFi: We are adding more and more features, farms, dex integrations as we speak. The industry’s moving at the speed of light, and we are keeping up with it very well
Thank you for answering all questions and thank you also for introducing the CyberFi to our community. Before ending AMA, is there anything to say to the Whale Blockchain Enthusiast community. Before I opened the chat again. 🐳
Darius | CMO CyberFi: Sure, I want to invite everyone to join our telegram group https://t.me/cyberfi_tech and become an active community member.
For more information and future AMA, join our Social Media channels:
🐳 Whale Blockchain Enthusiast Group: https://t.me/WBEcommunity
🐳 WBE News: https://t.me/WBEnews
🐳 WBE Twitter: https://twitter.com/WhaleBlockchain
🐳 More information on CyberFi:
🔸Website: https://cyberfi.tech/
🔸Telegram: http://t.me/cyberfi_tech
🔸Telegram ANN: http://t.me/cyberfi
🔸Twitter: https://twitter.com/cyberfi_tech
🔸Medium: https://medium.com/cyberfi
🔸Discord: https://discord.gg/QT743vPg
🔸Whitepaper: https://drive.google.com/file/d/1PJN02XN3PwwKjlHAMRTA6qCuYkPeWyA/view
