Binance has announced the 37th project on Binance Launchpool – CyberConnect (CYBER), a Web3 social network that enables developers to create social applications. The Launchpad webpage is already available.
Users will be able to stake their BNB, TUSD, and FDUSD into separate pools to farm CYBER tokens over 30 days, with farming starting from August 2, 2023.
Binance will then list CYBER on August 15, 2023, at 12:00 UTC and open trading with CYBER/BTC, CYBER/USDT, and CYBER/BNB trading pairs. The Seed Tag will be applied to CYBER.
CyberConnect Launchpool Details:
- Token Name: CyberConnect (CYBER)
- Total Token Supply: 100,000,000 CYBER
- Launchpool Token Rewards: 3,000,000 CYBER (3% of total token supply)
- BNB Pool Daily Rewards: 80,000 CYBER
- TUSD Pool Daily Rewards: 15,000 CYBER
- FDUSD Pool Daily Rewards: 5,000 CYBER
- Initial Circulating Supply: 11,038,000 CYBER (11.04% of the total token supply)
- Smart Contract Addresses: Ethereum, BNB Smart Chain, Optimism
- Staking Terms: KYC required
- Hourly Hard Cap per User:
- 333.33 CYBER in BNB pool
- 62.50 CYBER in TUSD pool
- 20.83 CYBER in FDUSD pool
Supported Pools:
- Stake BNB: 2,400,000 CYBER in rewards (80%)
- Stake TUSD: 450,000 CYBER in rewards (15%)
- Stake FDUSD: 150,000 CYBER in rewards (5%)
- Farming Period: August 2 00:00 UTC to August 31 23:59 UTC.
Users can find more information about CyberConnect (CYBER) in the research report
Terms of Launchpad
Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour.
Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time. Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time. Tokens can only be staked in one pool at a time.
Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately. Tokens are staked in each pool, and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
Binance BNB Vault will support the CYBER Launchpool. Users who have staked their BNB in BNB Vault will automatically participate in the CYBER Launchpool, and receive CYBER rewards daily in their Spot Wallets.
If there are more than one Launchpool projects running concurrently, users’ BNB assets in BNB Vault will be split and allocated into each project equally unless otherwise specified.BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, Launchpad eligibility, and VIP benefits.
Note: Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reason without prior notice.
Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see Binance’s Terms of Use and Risk Warning.
The post CyberConnect (CYBER) on Binance Launchpool appeared first on BeInCrypto.
