Introducing the new projects on Binance Launchpool: CyberConnect and Sei

Today, Curve Crisis continues to ferment, the market continues to decline. Against the backdrop of generally pessimistic sentiment, Binance announced two new Launchpools almost simultaneously: CyberConnect and Sei.

CyberConnect's native token CYBER and Sei's native token SEI will both be listed on Binance Launchpool on August 15, 2023, at 20:00 (UTC+8). CYBER can be mined in the Launchpool using BNB, TUSD, and FDUSD, with BNB accounting for 80%, TUSD accounting for 15%, and FDUSD accounting for 5%. SEI can be mined using BNB, TUSD, and FDUSD, with BNB accounting for 80%, TUSD accounting for 15%, and FDUSD accounting for 5%.

Here, Odaily will provide a brief introduction to the positioning, product, progress, and tokens of the two projects.

CyberConnect: Web3 Social Protocol

CyberConnect is a Web 3 social networking protocol deployed on mainnets such as Ethereum, Polygon, Solana, and Binance Chain. The product provides a series of middleware for developers to create social dApps based on the protocol and offers solutions including DID, content, and token for users; specifically, it includes CyberAccount, CyberGraph, CyberID, and W3ST (Web3StatusToken) among others.

Products.

CyberAccount is an account product that makes use of the ERC-4337 account abstraction feature. Users can pay gas fees on any network by using CYBER on a single network, bringing a more convenient multi-chain Web3 social experience to users.

CyberGraph is an anti-censorship smart contract that records users' content and social relationships and has built-in monetization tools. This product links user identities (CyberAccounts) with their content and social connections using a set of smart contracts and records rich social data on multiple EVM-compatible blockchains. By leveraging CyberGraph's unique and customizable middleware design, high-value social data from users is stored in a blockchain database. This product unleashes the potential for new social network use cases and community building by tokenizing social interactions.

CyberID is an ERC-721 NFT that serves as a unique identifier for a user's account on the CyberConnect social network, similar to a username on Instagram or Twitter.

W3ST (Web3 Status Token) is a non-transferrable NFT. This token serves as a digital verifiable indicator of user status within its community. The product can be used as an identification tool for user identity, and organizations can use W3ST to identify their loyal supporters and build a digital verifiable, immutable, and distinctive value system based on contributions within their community.

CyberConnect believes that the series of social products and their models created by this protocol overturn the segmented social networks of the Web2 model, avoiding users being hijacked by platforms. In traditional social products, information and data cannot be exchanged between different platforms. CyberConnect aims to build a decentralized social graph protocol in which users can fully enjoy autonomy. Even if users migrate to new social products, they only need to connect their wallets to CyberConnect to access their old identities, profiles, and connections. (However, the premise to realize this vision is that the dApp is developed based on the CyberConnect protocol.)

The total supply of CYBER tokens is 100,000,000, with an initial circulation of 11,038,000, accounting for 11.04% of the total token supply. The total mining supply is 3,000,000, accounting for 3% of the total token supply. The token economics are as follows:

The total supply of CYBER is 100 million, with 9% allocated for community rewards, 34% for ecosystem development, 25.12% allocated to private investors, 15% allocated to the team and advisors, 10.88% added to the community treasury, and 3% each allocated to CoinList public sale and Binance Launchpool.

And in the development of the ecosystem that occupies a total of 34% of the tokens, 9% is used for ecosystem partners, 10% for user developer communities, 5% for early integration partners, and 10% for market development.

Currently, CyberConnect has released details of community rewards, which will start at 12:00 on August 15th, with a total of 2.4 million tokens available for claiming, accounting for 2.4% of the total supply. Users who hold Mystery Box, The Shards, Mini Shards, CyberProfile Premium Handle, and CyberProfile Early Adopter NFT can claim them.

Sei: Layer 1 focused on trading scenarios

Sei is a high-performance L1 network that focuses on trading scenarios. The project is developed based on the Cosmos SDK, and its core is a trading infrastructure based on the Central Limit Order Book (CLOB). This allows Sei not only to integrate with dApps on its own chain, but also to leverage the liquidity of the entire Cosmos ecosystem and create a trading market for assets on Sei. 

However, it is worth noting that Sei is a "permissioned" blockchain. This means that developers cannot freely deploy smart contracts. Smart contracts need to be deployed after being approved through the governance process proposal. Currently, Sei provides developers with two different types of smart contracts: CosmWasm contracts that use Sei's DEX module, and general contracts that do not require DEX module functionality.

As a Layer 1 designed for trading, Sei does not exclusively use either AMM or traditional order book mechanism when handling transactions, but instead chooses a compromise solution - Centralized Order Book (CLOB). CLOB constructs an order matching engine at a lower level of the blockchain structure, attempting to solve this problem by embedding the order book in the chain. By using the order book mechanism for trading, in addition to enabling pre-set orders, high transaction speed and low fees also make high-frequency trading possible.

Sei's dApp is built on top of the Centralized Limit Order Book (CLOB). At the end of each block, all orders related to CLOB will be processed by the native order matching engine. Unlike many Layer 1 public chain developers who need to "reinvent the wheel", Sei has developed the DEX module, which allows smart contracts to easily develop and customize new markets using the underlying order matching engine. In addition, many optimizations have been made for dApps to access the order book's matching engine.

By adding the order matching engine at Layer 1, the performance and experience of the DEX built on Sei can be greatly improved. And with the scalability of Cosmos, Sei has the ability to interoperate, allowing other Cosmos-based blockchains to use CLOB as a shared liquidity center to create markets for other assets.

While the development direction of Web3 is still full of uncertainties, Sei did not try to capture the potential trend in the application layer, but instead further focused on cultivating a large-scale trading market. For Sei, a strategy focused on trading can establish a better infrastructure for trading activities, gradually improving the infrastructure of DeFi.

For more information about Sei, you can read the previous article by Odaily: "New Project | Sei: A Layer 1 Focusing on Trading Scenarios"

The token distribution model for SEI is as follows:

Private investors receive 20% tokens, Binance Launchpool is allocated 3% tokens, the team receives 20% tokens, the foundation receives 9% tokens, and 48% tokens are reserved for the ecosystem.

The allocation model does not specify the token share for airdrops, and the airdrop plan has not been announced yet. However, Sei community Mod stated on Discord that there is an airdrop plan, and all information should be verified with official announcements.