Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with CyberFi, on January 7th at 01.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Darius, Co-Founder & CMO at CyberFi so here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Darius — I’ve been in crypto since late o 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.
Introduction Questions Asked By Team BlockTalks
Q1. Could you please introduce CyberFi to our community in layman’s term?
Ans — CyberFi is an Automation Platform enhancing the DeFi user experience, 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.
should you like to learn about cyberfi in more detail you can read our WP here
Meet Google Drive - One place for all your files
Google Drive is a free way to keep your files backed up and easy to reach from any phone, tablet, or computer. Start…
Q2. What are the advantages of CyberFi to other alternatives in the Blockchain field?
Ans — What makes us different is that we are ahead of the game and developed tools that every DeFi user needs. alongside that, we are non-custodial 2nd layer solution that can integrate any dex or dapp, and that gives us huge benefit against other projects. We came out with already developed alpha version platform even before private sale round and development is going at a really fast pace.
Q3. What are the major milestones CyberFi achieved so far & what are in the future pipeline?
Ans — In this very short timeframe after our launch weve manage do do quite a lot. As already mentioned, developed beta platfrom, solidified very important partnerships with TrustSwap, Ferrum Network, DexTools, LinkSwap and more. Also, right before Christmas we’ve launched our staking portal, even thought it was scheduled for January. Now the next major milestone is to polish the trading platfrom and realease it for public use.
Here you can find a brief recap that was done at the end of December ~
Questions Asked on Twitter For CyberFi Team!
Q1. Doing the maths, the CyberFi staking program will only last 40 days, since by that time all the CFIs will have been handed over as rewards. My question is, what will happen after that period? Will there be another staking program?
Ans — Great question. Our staking program will consist from multiple staking events that we called CyberEra. This first CyberEra is set for 40 days and total reward pool is set for 35,000 CFi. After this CyberEra is finished, we will be announcing following staking events with different reward pool allocations.
You can find full info on this current event here ~
We are thrilled to announce — CyberFi Staking is LIVE!⚡️⚡️⚡️
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!🎄
BETA is live and ready to be tested!
If you haven’t registered yet, here is the link to apply https://forms.gle/ouiRqq2zB69Q9KUM8
Q2. I love finance platforms but I never find a tool that offers me a good loan service….. $Cyberfi
How does the loan system work on your platform depending on the type of user and what is the interest percentage per loan?
Ans — Good question, but I have to say that does not apply to CyberFi platform. We do not provide any loan service via our platform. Having said that, we are integrating our automation solution with project like for example one of our partners Unilend where CyberFi will automate the ability for users to automatically lend out all the tiles they are not using to Unilend pools and take them back in the same automated fashion. You can read full info on this integration here ~
CyberFi Strategic Partnership and VC Investor Announcement
We have seen outstanding support from our community and that has reflected in our wildly successful launch. Not only…
Q3. “Users of your platform will experience zero stress”, but for that it is necessary to offer not only security, but also economic benefits. Is this the case with Cyberfi? How profitable would it be for investors to invest in your project?
Ans — Yes, security of assets is one thing and another very important aspect is risk mitigation. CyberFi automation tools for LP management offers risk mitigation for impermanent loss. Currently if you participate in LP protocols or yield farming protocols, you have to monitor the market and token price on uniswap pretty much 24/7. With our platform you can pre set the parameters with price triggers and avoid all The stress.
In terms of economic benefit, I would not try to speculate on the value as we cannot guarantee market conditions. however, we can make sure the development of products and services that are much needed for the DeFi space to evolve.
Q4. The CyberFI team took the decision to prioritize developing automation tools to improve this specific area. Does CyberFi do the test version provided to the community? What problems did the testing version find and resolve?
Ans — Yes, as a I already mentioned previously, beta version is open for the community to register and test. First testers group is capped to 100 spots and certain criteria, for example you have to be an active user of LP or yield farming protocols and submit a wallet address proving that.
We want to gather best feedback from active ecosystem players do that we can make the best improvements.
At the moment we just had some minor bugs that were fixed already and making some improvements on UI side of things.
Q5. CyberFi is working with several major media outlets such as Forbes, Hackernoon and Zerohedge. Why have you decided to include these platforms to become part of your ecosystem and improve the way you generate liquidity? What new partnerships will CyberFi form in the future?
Ans — Not sure what media outlets have to do with our platform and liquidity.
We have a lot of partnerships in line that we will be announcing once they are solidified, Don’t want to mention names before that.
Questions Asked by our BlockTalks Community Members during live Session to CyberFi Team!!
Q1. What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
Ans — Education is certainly an are that we will put quite a lot of emphasis. DeFi is complex even for those in crypto community and that creates a barrier to entry. We will be running a series of educational step-by-step videos for people to learn the intricacies of how to navigate the DeFi and CyberFi platform.
Q2. CyberFi previously announced a partnership with YFLink. What is expected from this partnership? And in the future there will be another big partnership that CyberFi will do?
Ans — This partnership allowed us to bring more users and spread the awareness about CyberFi. Alongside that, you can now provide liquidity CFi/LINK on linkswap and earn CFi token.
Next partnerships we will announce once they are solidified.
Q3. The DEFI space is very young and is changing rapidly. My question is, how flexible are your tools to adapt to changes in the DEFI crypto space?
Ans — We are a layer 2 solution and can integrate pretty much any DEX to be able to trade via CyberFi platform. So we are very flexible in terms of that and we believe that give us great advantage.