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The Decentralized Finance (DeFi) sector of the crypto industry is not new. In fact, it has been around for a couple of years now. However, until mid-2020, it was largely ignored by the majority of the crypto community, and only recently has been receiving the attention it deserves.
The community started looking into it after realizing that DeFi is brimming with potential, and that it can offer a lot of the same services offered by traditional banks. Of course, these services would now be offered in a decentralized way, which removes the middleman, improves the accessibility of such services, and it lowers their cost.
While DeFi isn’t new, as mentioned — the fact that it is only receiving all of this attention now means that we are at the beginning of a new era, and we are all early to the party.
New projects aiming to tackle various issues are emerging at a record pace. While their contribution is extremely significant, there is still a lot that needs to be upgraded and solved in DeFi. One example is intelligent trading and increased automation, which is something that a brand new project called CyberFi is set to achieve.
What is CyberFi?
CyberFi is a new-gen intelligent trading and automation platform (ITAP) that is exactly what the DeFi sector has been waiting for. CyberFi is the first ITAP platform in the industry, and was created to fill a gap found in the trading market.
What this means is that CyberFi can solve some of the more challenging problems of DeFi, such as high fees, certain entry barriers, and divergence. Meanwhile, it can significantly improve the user experience so anyone can participate from all levels of expertise.
Essentially, the project’s mission is to make DeFi user-friendly with features understandable to the general public. That way, people who are not particularly tech-savvy or economically educated will be able to participate and prosper in DeFi, as well.
By making DeFi easy to access, enter, and use — the project will cement the trend and help it grow into a strong and permanent sector of the crypto industry. By removing the stress and perfecting automation, DeFi will become a big part of any crypto users’ digital banking experience.
CyberFi Has Already Seen Progress
CyberFi’s efforts are quite praiseworthy, which has allowed it to advance through the ranks rather quickly. In fact, its team recently summarized its rapidly-expanding list of achievements on CyberFi’s Telegram’s announcement channel.
It is worth keeping in mind that all of this progress was only made within the two weeks of the project’s launch. In this very short period, CyberFi managed to burn $300,000 worth of liquidity. It released its whitepaper, and it held an Alpha Tester Event, where Alpha products were released.
Next, the project also started making some major partnerships and attracting investors. For example, it reached its first long-term integration with another new and successful project, TrustSwap, whose CEO, Jeff Kirdeikis, joined the project as an advisor. Another new advisor who joined recently was Austin Merricks, who co-founded the XIO Network.
CyberFi got its first venture capital strategic investor — Magnus Capital. It also started collaborating with Unilend, which also led to integration.
At this point, the project started attracting attention, and so it got some pretty great reviews by major crypto YouTube channels and podcasts — CryptoZombie, Boxmining, and Ivan on Tech.
The project also recently had its first development update, which was followed by the release of its first NFT (Non-Fungible Token).
Recently, the project announced a number of new partnerships and integrations. For example, it teamed up with YFLink to introduce staking and announce the Cyberpunk 2077 giveaway, It also partnered with DEXTools, and finally, with Ferrum Network, which also wanted to join forces and work on an automated staking solution, and help DeFi scale in preparation for the mass market.
It is also worth noting that the project has its own token, CFI. CFI is CyberFi’s native currency that already has a number of use cases. For example, CFI holders can use the coin to pay for gas, lower commission, and get access to some unique products. Furthermore, the coin can also be used for paying for multi-chain operations.
CyberFi will not be taking those fees for itself, either. In fact, up to 80% of the funds collected through fees will be distributed back to the community, thus securing liquidity and increasing the value of the token.
CyberFi Releases a One-Month Recap
The team also recently released the project’s one-month recap, noting all of the achievements that they have made during this time. The list is quite lengthy, and it shows how big of an effort the team continues to make to ensure that the project grows.
The team started by showing its progress regarding the project’s launch:
- Private sale SOLD OUT within hours! $425,000 raised
- Listed on Uniswap with 300 000$ worth of liquidity locked forever
- Listed on Bilaxy
- Released WhitePaper — available on the cyberfi.tech website
Next, they announced a number of new partnerships:
- First Long Term Integration — TrustSwap
- First VC Strategic investor — MAGNUS CAPITAL.
- Integration and collaboration with Unilend
- Partnership with DEXTools
- Partnership with Ferrum Network
- Partnership with YFLink — LinkSwap
The project also became a topic of quite a few reviews and mentions:
YouTube:
- Crypto Zombie Amazing Review
- Crypto Zombie review No2
- Ivan on Tech review No1
- Ivan on Tech review No2
- Decentralised Chain review
- Boxmining podcast
Press:
- https://www.cityam.com/crypto-am-shines-its-spotlight-on-cyberfi/
- https://www.cityam.com/yfi-unite-and-conquer/
Lastly, they gave a few updates in regards to the development:
- Alpha Tester Event Launched — Alpha Release
- First Development Update
- First Limited Supply CyberFi NFT published
What is Next for CyberFi?
After covering everything that was achieved so far, the team also gave its community a few announcements about the future. For example, they revealed that the CyberFi full Beta Event launch will take place this Friday, December 18th. The project expects that the move will bring in a number of new users.
They also provided a sneak peek of the updated UI, and revealed that they have been working with major outlets that will call attention to the project in weeks to come.
Finally, they also announced the launch of their staking portal, which will go live on Wednesday, December 23rd.
So far, CyberFi has only made a few steps predicted by its roadmap, but also countless smaller ones that will help it reach the following stages.
In December, it aimed to hold the CFI launch and beta LP automation with PT. However, in 2021, the project aims to start by bringing staking and beta farming automation. This will become available in January, and it will be followed by the beta multichain automation.
The public release of the multichain toolset is scheduled for Q3 of the next year, and it will be followed by the CyberFi major public launch.
So, as you can see, there are a lot of things to look forward to in CyberFi’s future, particularly as the project promises to enhance user experience of DeFi, thus bringing value to the entire sector.
