CyberConnect launches Layer2 network Cyber, integrating social and yield farming

The decentralized social protocol CyberConnect announced last Friday that it will launch its own Layer2 network called Cyber, offering advantages such as low gas fees for social networks, enhanced user experience, native staking rewards, etc. The Cyber Sepolia testnet will go live next week. Announcement

Why Launch Cyber

The decentralized social protocol CyberConnect is set to launch its own Layer2 network, but why?

Lowering Gas Fees

The team states that the Web3 space is in urgent need of social-related products, yet current blockchain-based social products are not widely adopted due to poor user experience, with high gas fees being a major obstacle.

For example, in the past year, the CyberConnect social protocol completed over 20 million transactions, resulting in gas fees exceeding $2.6 million.

With a design incorporating Rollups and utilizing EigenDA as a data availability layer, the team claims that transaction costs on CyberConnect L2 will be below $0.01.

Token Value Capture

In the future, the network will allow for dual staking mechanisms using ETH and CYBER to ensure network security, thereby expanding the utility of their native token.

Introduction to Cyber

Social-Oriented Layer2

Cyber is building its own social Layer2 network using the development stack OP Stack and AltLayer provided by Optimism. Additionally, it will utilize EigenLayer services to seek nodes to ensure consensus and security of the new network.

Recommended Reading: How will the re-staking project EigenLayer change the Web3 infrastructure ecosystem? Reason for recommendation: This article provides insights into what EigenLayer is and the problems it aims to solve—providing a new decentralized network consensus foundation and security, bypassing the cold start challenge.

The team emphasizes that this network will be the first modular Layer2 project focused on social interactions and large-scale adoption.

Enhancing User Experience

Cyber will support native account abstractions through EIP-7560 and enable users to control their accounts using passwords or FaceID with EIP-7212.

Re-staking Rewards

CyberConnect L2 is expected to allow stakers to earn re-staking rewards. The team will integrate protocols related to LST and LRT to earn native network rewards, encouraging more users to participate.