Community AMA

gm on-chain friends 👋 Welcome back to CyberLetter, our bi-monthly recap of all things CyberConnect. Here’s everything we’ve been up to these past few weeks 👇🏼 CYBER is here 👋🏻Have you heard? Early last month, CYBER was introduced on Binance Launchpool as its 37th project and ha

CyberLetter #25: CYBER, Account Abstraction and More 🤯

In this post, we will take a close look at the method of calculating profits and losses (PnL) used in the 1inch Wallet’s recent upgrade. For crypto traders and investors, accurate and up-to-date portfolio information is vital. Therefore, in the 1inch Wallet’s recently released new version for A

How 1inch calculates portfolio PnL

Community engagement plays a pivotal role in the world of web3, fostering collaboration and building a sense of ownership among early users. Link3 has been at the forefront of this movement, especially with its Fan Club loyalty program, where community members earn rewards for contributing to the Cy

Link3 Update: Fan Club Points Migration & Protocol v3

gm At Superscrypt our mission is to support founders and projects that will bring on the next wave of users to the blockchain space. We take a research-driven approach to identify key web3 building blocks that will push the boundaries of how we interact, create and share value globally. Today, we

Web3 Social: Driving New Forms of Identity, Connection & Value Creation


We are thrilled to share that CyberConnect is now available on Base, a secure, low-cost, and builder-friendly Ethereum L2 blockchain to power the next generation of hyper-scalable web3 social dApps. Over the last two years, we have been on a mission to redefine social networking on the internet by

Bringing Web3 Social to Base


It’s time for the moment we’ve all been waiting for. Getting to this point has been a long and adventurous journey (as it should be, otherwise, it won’t be fun). However, it was a million times easier because we had you - our dedicated community of earliest supporters. When we launched Cyber

CyberConnect Community Rewards: Season 1

TL;DR ✧ Users can now start staking BNB, TUSD, and FDUSD to farm CYBER tokens on Binance Launchpool. ✧ CYBER token trading will begin August 15, 2023, at 12 PM UTC. ✧ Season 1 of Community Rewards begins the same day as CYBER trading on Binance. A total of 2.4M CYBER will be available for c

It’s CYBER time: Now Live on Binance Launchpool

TL;DR ✦ CyberVoyage is now CyberTrek. ✦ Check if you’re whitelisted to participate in CyberTrek here. ✦ To win rewards during CyberTrek: ✧ Collect CyberConnect V3 Evangelist NFT ✧ Top up gas credit in your CyberAccount (Minimum USD $10) ✧ Collect CyberWallet Early Access NFT Until

CyberTrek: Experience Web3 with Account Abstraction

gm on-chain friends 👋 Welcome back to CyberLetter, our bi-monthly recap of all things CyberConnect. Here’s everything we’ve been up to these past few weeks 👇🏼 CyberConnect V3 is Coming Next Week 🚀 Last week, we shared V3 of the CyberConnect social network protocol. It’s literal

CyberLetter #24:  CCV3 is here 🔥 CyberVoyage 🔜

In response to community feedback and in our relentless pursuit of fostering the best possible environment for our creators, we have decided to retire the Profile Pass and Soundtrack Pass. We're continually adapting to serve our community better, and today we're thrilled to announce a more comprehen


Introducing the Spotlight Pass: Your Beacon on the CyberTune Stage

Thanks to the invaluable support from Moonbeam Network, we have achieved significant milestones. In this Moonbeam Ecosystem Grant, our objective is to expand our user base and explore exciting opportunities across multiple blockchains. To mark this important occasion, we're giving away 3000 GLMRs as

Claim 3000 $GLMR Rewards: Vote for MoonFit!

TL;DR CyberConnect V3 is a set of powerful upgrades to the CyberConnect social network protocol to usher web3 social into a new, multi-chain future. It will power the next stage of hyper scalability for web3 social dApps and give users a social networking experience that feels familiar to web2.  I

CyberConnect V3: A New, Multi-Chain Future for Web3 Social

# **What makes a “Good” Stablecoin?**

User Confidence is undeniably important, especially seeing the recent collapse of protocols (LUNA/UST) and the most recent FTX collapse, in just matters of days.

Some of it is due to fundamental reasons or speculated breaches, we do feel that a huge part is also the confidence in customers/users in the protocol/exchange itself, and we feel this also applies to Stablecoins.

We have seen exchanges quickly coming out to let users know that they are doing Merkle-Tree Proof of Reserves around the time FTX was said to be insolvent.

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeifjby3s337essc64diexoq453dyocit2aofjktouhfjahkmod3a3a)

_Source: CoinMarketCap Market Cap_

[_https://twitter.com/cz\_binance/status/1590055819416330240_](https://twitter.com/cz_binance/status/1590055819416330240)

In Stablecoins, some due diligence must be done by users themselves to identify what they consider a good, yet safe Stablecoin to use.

Hence, we have put together a few key points and analysis of what we think you should take note of to identify confidence in the Stablecoin and also help in reducing the odds of you getting “rugged”.

### 1. **“Battle History”**

Those who have been in the Crypto Space for a few years will know that “battle-tested” tokens which have survived various conditions of the Crypto Market and are still “surviving” normally means they are doing something right.

In such a volatile environment, if a Stablecoin has yet to collapse _(Hint!: UST is not one of them!)_ and still holds its peg, normally means that there is confidence in that Stablecoin which suggests that it might be a “better” Stablecoin.

We think that the longer a Stablecoin stays in this space without collapsing, the more credibility they have.

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreigekhery65ipelqm5ervli5wtg6f5qqvsvrl6ftoxjhleq6dd3gga)

_Source: CoinMarketCap Market Cap_

[_https://coinmarketcap.com/view/stablecoin/_](https://coinmarketcap.com/view/stablecoin/)

Therefore we can see that we have a clear winner, which is USDT.

It has been the longest standing stablecoin, and has been through various market conditions but is still trading at peg, which shows that there is user confidence in the stablecoin.

_**“Why isn’t anybody talking about this?!”**_

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeibvrndsonrsw2fgcx6fvclww46w5shkj2fg6yyczqeju7oda32qvu)

Source: Youtube // [https://twitter.com/trondaoreserve/status/1590691862813478912](https://twitter.com/trondaoreserve/status/1590691862813478912)

_Did you know that when Tether depegged recently after the collapse of FTX, TRON DAO attempted to defend the peg?_

### 2. **Utilization based on Chains**

Having some substantial amount of flow into various chains could also be a good way to see how utilized these tokens really are. Generally we want to see these tokens on more chains rather than just solely on one chain.

We have mainly referred to the data on DefiLlama.

Source: [https://defillama.com/stablecoins](https://defillama.com/stablecoins)

In the data below, we have only included chains with more than _**$1,000,000**_ worth of Stablecoin flows.

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreifi53bxx4hun7ye3j6a2bnspoqjtnyvyt4vz7raunyntnc2rhqkki)

In this case, we can see that the USDC and USDT is still being used on most chains.

_**“Why isn’t anybody talking about this?!”**_

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeieprjv36476cfpjnsxatopj765fmxwd25nxqrmwmbfpwmkl2iks7e)

Source: Twitter // [https://twitter.com/novogratz/status/1590702794163781632](https://twitter.com/novogratz/status/1590702794163781632)

_Did you know CEO of Galaxy Digital,Mike Novogratz fell for a fake Twitter account and went on CNBC to say El Salvador may have stored their Bitcoin with FTX which was insolvent?_

### 3. **Utilization Rate**

The idea behind the Utilization Rate is to see the usage of each Stablecoin in comparison to its Market Capitalization.

A Stablecoin with a higher Utilization Rate when compared to others is generally a good sign that the Stablecoin is being “used”.

A Stablecoin being actively “used” especially during periods of uncertainty, generally shows confidence in the Stablecoin.

Therefore to calculate the Utilization Rate, we will simply take the 24H Volume / Market Capitalization.

_The Utilization Rate will be higher than usual, as due to the recent insolvency of FTX/Alameda as well as possibly many entities not revealed yet, the fear in the market will increase the demand for Stablecoins._

_We think that this is a good time to compare these Stablecoins, as in periods of stress, we can see which Stablecoins users truly feel is “safe” to transact in._

Higher Utilization means higher liquidity, and also suggests that users are actually using that Stablecoin to do transactions.

Therefore if you are trading more on Centralized Exchanges, you might want to place more importance in the consideration of a higher utilized stablecoin on Centralized Exchanges, and likewise the same case for Decentralized Exchanges.

However, we also put together a combination of the Utilization Rate on Centralized + Decentralized Exchanges to get a good overview of the whole picture.

We will be referencing the volume from CoinMarketCap.

_Source: _[_https://coinmarketcap.com/view/stablecoin/_](https://coinmarketcap.com/view/stablecoin/)

_All figures are approximate._

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreiat2pfihd7k3kcifl7ze6jx7xxcio7zfqmkiey3qxmhiu2y4hqldm)

_Source: CoinMarketCap Market Cap_

[_https://coinmarketcap.com/view/stablecoin/_](https://coinmarketcap.com/view/stablecoin/)

3.1. Stablecoins Utilization on Centralized Exchanges

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreidcfpguxtkz734hxwy5alskjnwtfqpu4kg2l6nprq4p3ba3qvfuse)

There are some Stablecoins such as FRAX which has too low of a Utilization Rate which is why it's not included in the table, as it is clear that it is not being utilized much on centralized exchanges.

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeihs3qooc74ai7uny2r5uc4auvvzb6jyqmxrulskaavvlsmgqes5ba)

_Source: CoinMarketCap Market Cap_

[_https://coinmarketcap.com/currencies/frax/_](https://coinmarketcap.com/currencies/frax/)

It is quite clear that USDT is the clear winner in terms of utilization on Centralized Exchanges, with the runner up being BUSD.

3.2. Stablecoins Utilization on Decentralized Exchanges

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreiejeanu34m2v5egrlotpk3hkrhqprrotkhdqq3pmwl4kjcjniud3y)

For Decentralized Exchanges, DAI appears to have the highest Utilization Rate and this is followed by USDC.

3.3. **Total Stablecoins Utilization on Centralized & Decentralized Exchanges**

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreihyev6oxoqpalhxbrnklidmv4vasoppmofqymhxqstj2ibol5xwxi)

In general, it seems that the Top 4 Market Capitalization tokens also has the highest utilization rate for CEX + DEX combined.

Hence, as mentioned above, it would depend on whether you trade more on CEX or DEX and assess which Stablecoin has a higher utilization rate there.

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreie4h6wm4cznzmpde2g7obnm32jqh7xxrpolx263r45l4luaxwglvi)

We can see that in general the utilization rate for stablecoins is generally higher in CEXs, and although another factor could be due to the native token being commonly used within trading pairs for each network/chain for DEXs.

However, these are the top 3 Stablecoins for CEX and DEX _(depending where you trade on)_ to be considered as “better” Stablecoins in terms of just looking at Utilization Rate.

_**“Why isn’t anybody talking about this?!”**_

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeif4nl5fubjmxvm4kcalcdovlvpi4qv6hmuu6orldtcnu2ihd5v3he)

Source: Twitter // [https://twitter.com/CryptoHayes/status/1590320645639766016](https://twitter.com/CryptoHayes/status/1590320645639766016)

_Did you know many memes (In this case the Solana Phone) were made about SOL since the recent fall of Alameda and FTX, as SBF was known for being a big advocate of SOL?_

4. **Stablecoins Decentralization Breakdown**

Did you know that Stablecoins issuers can freeze your Stablecoins even if it is in your own wallet? “Your keys, your coins” does not apply in this case!

Although some of it is due to legitimate reasons, generally this shows the stablecoin is not exactly “Decentralized”.

Hence, to get a good idea of how Decentralized a Stablecoin is, we are going to look at whether the issuing entity has any past history of freezing funds/wallets.

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeihpvowkshn7i7ljy2g53sancwhdyfcq7tuoolre4ktj54sayt6xo4)

Hence, in this case although we do not have a clear winner, we feel that DAI, when compared to the rest, is a good option for users who would prefer to have full custody of their Stablecoins.

Do note that Decentralization covers a wide range of areas besides the freezing of funds, and this is just one way to look at it.

_**“Why isn’t anybody talking about this?!”**_

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeienf3izmtefjms4nudrq23zs45sr5i26oe4brnljwqwldh5sr42hu)

Source: Twitter // [https://twitter.com/zhusu/status/1590189388721704960](https://twitter.com/zhusu/status/1590189388721704960)

_Did you know after FTX/Alameda’s collapse, Su Zhu of 3AC broke silence on Twitter, possibly hinting at a comeback?_

### 5. **Stablecoins Peg Analysis**

Please note that the data below is from Defillama. If you trade on centralized exchanges, or any protocol that relies on its own price feeds, it is recommended you also take a look at that exchange/protocol you are trading on to look for the peg history. (Source: [https://defillama.com/stablecoins](https://defillama.com/stablecoins))

When we state it is sorted by Most to Least “Safest”, we take the assumption that being closer to Peg is generally “safer”. Being above peg might not exactly be favorable to users, depending on which side of the trade you are on.

![](https://ccgateway.infura-ipfs.io/ipfs/bafkreifi53bxx4hun7ye3j6a2bnspoqjtnyvyt4vz7raunyntnc2rhqkki)

Generally we can see that the top 2 Stablecoins USDC and USDT have been able to keep their peg on chain, which shows user confidence in them.

_**“Why isn’t anybody talking about this?!”**_

![](https://ccgateway.infura-ipfs.io/ipfs/bafybeicwficscma5j7o23obw2mtrcn2lbf3sacqatxsv7pui3ikboyo7xa)

Source: Youtube // [https://www.youtube.com/watch?v=YimBTM7kwjc](https://www.youtube.com/watch?v=YimBTM7kwjc)

_Did you know after FTX was said to be insolvent,  Martin Shkreli and Do Kwon came on a Crypto Youtube Livestream with the former telling Do Kwon that "jail isn't that bad"?_

# **Food for Thought**

More Decentralized Stablecoins has historically shown greater instability, and has a higher chance of crashing in a black swan event.

Centralized Stablecoins are supposedly “safer” in terms of keeping its dollar value, but there is always the probability that the issuing entity can freeze the funds.

For us at HashBrown Research, we would prefer to use DEXs over CEXs, hence what we would consider a “good” Stablecoin  based on the Utilization Ratio on DEXs.

We also would be more inclined to use DAI, although the collateralization is a concern, we believe that with future innovation, maybe DAI can come up with a different collateralization system so as to minimize the dependency of a centralized stablecoin such as USDC.

_Do you look at any data when choosing to use a Stablecoin?_

_Feel free to connect with us on our Socials as we would like to hear your thoughts!_


What makes a “Good” Stablecoin? User Confidence is undeniably important, especially seeing the recent collapse of protocols (LUNA/UST) and the most recent FTX collapse, in just matters of days. Some of it is due to fundamental reasons or speculated breaches, we do feel that a huge part is also

A Deeper Dive into Stablecoins

Are you a **small-scale investor** looking to **stake your ETH** and earn yield?

You can now stake your ETH on Starknet for **30x less gas fees** than on Ethereum, with the same security.

Let's tell you how👇

Once your Braavos wallet is opened, click on the "Stake+" icon at the bottom of your screen. Then click on Stake ETH, then enter the amount you want, click on Deposit and sign the transaction.

How does it work **under the hood**?

1. Starknet is a ZK-Rollup (also called Validity rollup) that compresses transactions and reduces gas fees

2. Braavos uses DeFi pooling. This means that many users’ txs are batched into one L1 tx for much lower gas fees.

Are you interested to know how the **Staking Boost** works?

Here is how it works:

Let's say you invest 2 ETH.

1 ETH is staked on Lido through Ethereum L1.

Lido sends you back 1 wstETH.

1 wstETH and your remaining 1 ETH are now sent into a ETH-wstETH liquidity pool.

Your total yield is the sum of:

- the yield generated from your 1 ETH staked on Lido

- the yield from the liquidity pool, generated by the swaps made between ETH-wstETH on mySwap AMM

Here is the formula: 1 ETH * staking_apr * pool_apr + 1 ETH * pool_apr

For a full explanation of Stake+ read this article: [https://braavos.app/how-to-stake-eth-on-starknet-and-earn-high-yield/](https://braavos.app/how-to-stake-eth-on-starknet-and-earn-high-yield/)

**About Braavos**

Braavos is a smart contract wallet on Starknet. It is the only wallet with decentralized 3FA. Something you know (password/seed phrase), something you own (your smartphone), and something you are (biometric ID) which makes it one of the most secure in the world. Braavos pioneered cutting-edge technologies such as Stake+ which empowers small-scale investors to be profitable in DeFi and the Hardware Signer which transforms your smartphone into an advanced hardware wallet for top-notch security.

**Join us on other platforms.**

[Website](https://braavos.app/) | [Twitter](https://twitter.com/myBraavos) | [Discord](https://discord.com/invite/9Ks7V5DN9z) | [Telegram](https://t.me/mybraavos) | [YouTube](https://www.youtube.com/@braavos_wallet)

Are you a small-scale investor looking to stake your ETH and earn yield? You can now stake your ETH on Starknet for 30x less gas fees than on Ethereum, with the same security. Let's tell you how👇 Once your Braavos wallet is opened, click on the "Stake+" icon at the bottom of your screen. Then

Stake your ETH for 30x less gas fees.

First DEX on Venom that enables seamless trading by pooling liquidity from investors.

Web3.World is an Automated Market Maker, Yield Farming, and Staking platform built on Venom blockchain. It is currently the most flexible Automated Market Maker launched on Venom blockchain and enables seamless trading by pooling liquidity from investors with stablecoin pairs support. It is the first DEX established on Venom blockchain. This documentation describes the design of the system, provides an explanation of the core concepts, and documents the technical details to enable integration with the protocol.



<youtube id="SvLGjQbQ-MA" />

[Twitter](https://twitter.com/vladi4light) | [Telegram](https://t.me/crypto4light) | [Youtube](https://bit.ly/crypto4light) | [Indicators](https://t.me/crypto4light/2155) | [Discounts](https://lnk.bio/discount4light)

First DEX on Venom that enables seamless trading by pooling liquidity from investors. Web3.World is an Automated Market Maker, Yield Farming, and Staking platform built on Venom blockchain. It is currently the most flexible Automated Market Maker launched on Venom blockchain and enables seamless tr

Venom Blockchain Web3 World. How to Swap, Provide liquidity, farm?

**TL;DR**

✦ CyberVoyage is now CyberTrek.

✦ Check if you’re whitelisted to participate in CyberTrek [here](https://link3.to/cybertrek).

✦ To win rewards during CyberTrek:

✧ Collect CyberConnect V3 Evangelist NFT
✧ Top up gas credit in your CyberAccount (Minimum USD $10)
✧ Collect CyberWallet Early Access NFT

***

Until today, the web3 experience has been far too complex for most users. Even though many of us managed to learn new wallet management skills like network switching and private key management, the experience as a whole still remains a painful ordeal for most.

This changes today.

Introducing **[CyberTrek](https://link3.to/cybertrek)**: a two-month journey of bi-weekly mini-treks to help you experience web3 through CyberAccount, an ERC-4337-compatible smart contract account.

Web3 has been buzzing with recent developments in account abstraction and smart contract accounts. Unfortunately, the hype has been insufficient in giving users an actual taste of what web3 can feel like with this powerful new primitive. By participating in CyberTrek, not only will users have the opportunity to earn rewards and get to know top teams in web3, but you will also expand your knowledge of account abstraction and how it is set to change your web3 experience completely.

From a stellar lineup of partners including [1inch](https://twitter.com/1inch), [OKX](https://twitter.com/okx), [SafePal](https://twitter.com/iSafePal), and more to exclusive insights from top blockchain networks - CyberTrek is your chance to supercharge your web3 experience with account abstraction.

So, are you ready to start your journey toward a new, improved web3?

## **What is CyberTrek?**

[CyberTrek](https://link3.to/cybertrek) is a two-month journey to experience web3 with account abstraction. It comprises six mini-treks, each running for two weeks on [Link3](https://link3.to/), web3’s most trusted social network to build and discover communities.

Each mini-trek is themed around one of our six partner blockchain networks and will feature their ecosystem’s top applications/projects through a series of AMAs, roundtables, fireside chats, and other online events.

## ![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/a098342fef555a82)

**Why CyberTrek?**

The ultimate purpose of CyberTrek is to bring account abstraction to every web3 user. With this campaign, we will roll out [CyberAccount](https://link3.to/cyberconnect/post/92e4477c7833a3e8a793c14e8ec884421a5c30edc9afb06d5ce2177ff22c074a), our ERC-4337-compatible smart contract account system, to select whitelisted users (more info below) and test the product at scale for technical validation.

With CyberTrek, it is also an opportunity for the entire web3 community to expand their knowledge on ERC-4337 and get hands-on experience with this improved web3 user interface while learning about the top projects across six major blockchain networks.

## **How to Participate in CyberTrek?**

To participate in CyberTrek:

1. Every eligible user must claim the [CyberConnect V3 Evangelist NFT](https://link3.to/cybertrek). While each Evangelist NFT is free and we cover gas for you, it is only available to select whitelisted users. 

Whitelist Criteria:

✧ Collectors of [CyberConnect V3 announcement Blog](https://link3.to/cyberconnect/post/92e4477c7833a3e8a793c14e8ec884421a5c30edc9afb06d5ce2177ff22c074a).
✧ Link3 [FanClub User Level](https://link3.to/cyberconnect/fanclub): 5 or above
✧ Top users from each mini-trek featured project.

To check your eligibility, visit [here](https://link3.to/cybertrek).

2. By minting a CyberConnect V3 Evangelist NFT, a CyberAccount will be automatically created for you. In order to use this new smart contract account, you will need to add funds to it.

Things to remember when adding funds:

✧ Add at least $10 worth of funds to be eligible for rewards.
✧ Funds can be added on any one of the partner blockchain networks.
✧ Funds will be denominated in $USD.
✧ Funds can only be used for gas.
✧ Funds will be non-refundable.

3. Once funded, you can now collect a CyberWallet Early Access NFT on a partner blockchain network of your choice. With this Early Access NFT, users will have early access to the CyberWallet app (to be launched soon).

## **Rewards**

CyberAccount holders who:

**      ✔️ Collect an Evangelist NFT

✔️ Add at least $10 worth of funds to CyberAccount

***will be eligible to claim:***

**      🏆 1 Mini Shard (Worth $6. [Learn more](https://mirror.xyz/cyberlab.eth/cA65Ww5WC8S6WRxrdSzqxfn2ufHGie9KfifrT93vlxU#:~:text=Unboxing%20here.-,Mini%20Shards,-%3A) about its utility)

🏆 1 Raffle Ticket to win 150 Mini Shards (Max 20 Winners)

Additionally, users who collect the **CyberWallet Early Access NFT** will also receive early access to the CyberWallet app.

**Be sure to use your CyberAccount to be eligible for rewards.**

## All You Need to Know About CyberTrek

1. **Who are the 6 partner blockchain networks?**

The partners include EVM-compatible chains like Polygon, BNB Chain, Arbitrum, Optimism, etc. A surprise partner will be announced on August 7, 2023.

2. **Who are the featured projects for each mini-trek?**

Featured projects will be shared at the beginning of each mini-trek.

3. **What are the minimum and maximum amount of funds I need to add to CyberAccount to be eligible for rewards?**

You must add a minimum of $10 to CyberAccount to be eligible for the rewards. There is no maximum limit.

4. **When does CyberTrek start?**

You can start your CyberTrek journey today by minting the [CyberConnect V3 Evangelist NFT](https://link3.to/cybertrek).

5. **What is CyberAccount and how is different from my MetaMask wallet on Ethereum?**

Web3 users today interact with Ethereum using EOAs. This is the only way to start a transaction or execute a smart contract. This limits how users can interact with Ethereum and contributes to poor user experience like inability to do batch transactions or requiring users to always keep an ETH balance to cover gas. Your Metamask wallet is a commonly used browser-based EOA.CyberAccount, on the other hand, is an ERC-4337-compatible account infrastructure that implements account abstraction to unlock many benefits for the users, including:

✧ use dApps deployed on multiple blockchains without worrying about network switching
✧ pay gas in currency of your choice. Eg: Pay gas on Optimism with $MATIC
✧ create a wallet using your email/phone
✧ define your own security rules for your account like tx limits etc.
✧ recover your account if you lose the keys
✧ share your account security across trusted devices or individuals
✧ enable session keys (no need to sign transactions every time interacting with blockchain)
✧ pay someone else's gas, or have someone else pay yours
✧ batch transactions together (e.g. approve and execute a swap in one go)

Ultimately, CyberAccount enables the web3 experience to be easier, and safer.

gm on-chain friends 👋

Welcome back to CyberLetter, our bi-monthly recap of all things CyberConnect.

Here’s everything we’ve been up to these past few weeks 👇🏼

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/c75d6d0ea7bfe6a3)**Community Rewards: Season 1 is Over 🚨**

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/d6fdf2a6713fbdcf)In the 30 days after the launch of Season 1, over 130k wallet addresses claimed 2.2M CYBER tokens.  

The remaining 97,243 CYBER has been transferred to the community treasury.  

Season 2 has already started, and a new CyberPoints system has been introduced to your CyberAccount. We have also [discontinued](https://link3.to/cyberconnect/post/6429c6b197e15d33a6328ff71f457804e435ed3c88ff3fcd82f3686ea05000c5) the FanClub and Mystery Box programs. Moving forward, all user activity and CyberPoints will be considered for future seasons of Community Rewards.

**CyberAccount now supports Arbitrum 💙🧡**

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/711a35ccb55186ab)Last week, we enabled support for CyberAccount on Arbitrum, a Layer 2 scaling solution for the Ethereum blockchain. CyberAccount now supports 5 top blockchain networks, becoming the leading smart contract wallet in the account abstraction space - both in terms of adoption and service flexibility.   

To date, over 500k CyberAccounts have been created.   

[You can set up your smart account here](https://link3.to/cybertrek) if you haven't already. We’re offering rewards for early adopters for a limited time. 

**CyberConnect Around the World 🌎**

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/befe1e6f283d1e04)Over the past few weeks, our teams attended the Korean Blockchain Week in Seoul and Token2049 in Singapore. It was refreshing to reconnect with partners, investors, and developers and to get updates on their progress. Here’s a photo of our CEO Wilson Wei, sharing our progress at an event by Particle Network👆🏼  

This week, our teams are at Messari Mainnet in New York and will soon leave for Istanbul to meet our community members at Devconnect 2023.   

Want to meet with CyberConnect team in our region? Send us a [Twitter DM](https://twitter.com/CyberConnectHQ) and let us know where.

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/15ddb3db5a099dee)**Read 📖**

Smart Accounts Take Off in Q3 (ERC-4337 Statistics)

Blockchain data analyst [0xKofi](https://twitter.com/0xKofi) reviewed the trends in account abstraction and the astonishing growth of smart contract wallets this past quarter in [this report](https://alchemy.com/blog/erc-4337-statistics-q3-2023) published on the Alchemy website.

**Watch/Listen 📺**

[Genzio](https://twitter.com/GenzioCo) - the team that manages top web3 accounts such as EthDenver, Consensus, Korean Blockchain Week met up with CEO Wilson Wei in Singapore to catch up on what’s latest in the CyberConnect ecosystem.

[Here’s the interview](https://twitter.com/GenzioCo/status/1703267063148798426).

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/21713dcfd10c1df6)**Mocaverse 💼 🪐**

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/32604ceaf22537ec)Congratulations to our frens and partners at [Mocaverse](https://twitter.com/MocaverseNFT) for their recent $20M fundraise announcement. We are excited about our upcoming launch together.

✌️✌️✌️

That’s all for this edition! See you later!

**Remember: On-Chain Friends Last Forever 🔗 ⭐️ 🥰**

— Team CyberConnect

*Thanks for sticking with us. If you like what you read, subscribe to this newsletter and follow us on [Twitter](https://twitter.com/CyberConnectHQ). Want to contribute? Join our vibrant community by clicking [here](https://discord.com/invite/cyberconnect) or dive into our developer docs [here](https://docs.cyberconnect.me/).*

gm on-chain friends 👋 Welcome back to CyberLetter, our bi-monthly recap of all things CyberConnect. Here’s everything we’ve been up to these past few weeks 👇🏼 Community Rewards: Season 1 is Over 🚨 In the 30 days after the launch of Season 1, over 130k wallet addresses claimed 2.2

CyberLetter #26: Community Rewards Season 2, CyberAccount on Arbitrum

🚀 The Basalt Coin project's presale is still ongoing! Don't miss out on this opportunity to purchase at a price of just $0.05 per coin.

Jul 1st, 2023

🚀 The Basalt Coin project's presale is still ongoing! Don't miss out on this opportunity to purchase at a price of just $0.05 per coin. Here are compelling reasons why you should buy now:

1️⃣ Tremendous Growth Potential: Our strategy is aimed at reaching a minimum price of $3 per coin. With this ambitious goal, there's a tremendous potential for profit. Imagine the possibilities!

2️⃣ Innovative Approach: Basalt Coin introduces a unique and innovative approach to the crypto market. Our team has developed a solid roadmap and a robust ecosystem, ensuring long-term sustainability and growth.

3️⃣ Strong Community: Join a thriving community of like-minded individuals passionate about Basalt Coin. Connect with fellow investors, share insights, and stay updated on the latest developments.

4️⃣ Transparent Tokenomics: Our tokenomics have been meticulously designed to benefit both early investors and long-term holders. By understanding the underlying mechanisms, you can make informed investment decisions.

Act now and seize this opportunity! Visit our website to participate in the presale and be part of the Basalt Coin revolution. Together, we can achieve new heights! 🌟💎

🍃 [https://basaltcoin.com/sale](https://basaltcoin.com/sale)

🚀 The Basalt Coin project's presale is still ongoing! Don't miss out on this opportunity to purchase at a price of just $0.05 per coin. Jul 1st, 2023 🚀 The Basalt Coin project's presale is still ongoing! Don't miss out on this opportunity to purchase at a price of just $0.05 per coin. Here a

🚀 The Basalt Coin project's presale is still ongoing! 

*TL;DR*

✧ Users can now start staking BNB, TUSD, and FDUSD to farm CYBER tokens on Binance Launchpool.

✧ CYBER token trading will begin August 15, 2023, at 12 PM UTC.

✧ Season 1 of Community Rewards begins the same day as CYBER trading on Binance. A total of 2.4M CYBER will be available for claiming by the earliest adopters and community members.

***

[CyberConnect](https://cyberconnect.me/) is a web3 social network that enables developers to create social applications empowering users to own their digital identities, content, connections, and interactions.

The current social network landscape is dominated by a limited number of centralized, profit-driven corporations, whose primary focus is their own financial interests. This creates an ecosystem that unfairly monetizes user data and hinders innovation, preventing developers from introducing new and innovative social products and features.

Beginning in 2021, CyberConnect aims at challenging this status quo by establishing a community-owned social network that offers users ultimate control over their digital lives free from centralized and biased tech.

Just last week, CyberConnect took web3 by storm with [CyberTrek](https://link3.to/cybertrek), a two-month-long campaign to bring the power of ERC-4337 and account abstraction to users. In just a matter of a few days, CyberConnect is already [the biggest smart contract account provider](https://dune.com/cyberconnecthq/cyberaccount-cyberconnects-4337-smart-account) and a market leader in this new, emerging space.

Building on this momentum, we are thrilled to share that CyberConnect protocol’s native utility and governance token, [CYBER is now available on Binance Launchpool](https://www.binance.com/en/support/announcement/introducing-cyberconnect-cyber-on-binance-launchpool-farm-cyber-by-staking-bnb-tusd-and-fdusd-7d1f62e7483d406584a754a38094358a), and users can start staking BNB, TUSD, FDUSD into separate pools to farm CYBER over the next 30 days.

CYBER will be available for trading on Binance starting **August 15, 2023, at 12 PM UTC**.

To learn more about Binance Launchpool and the upcoming listing of CYBER, click [here](https://www.binance.com/en/support/announcement/introducing-cyberconnect-cyber-on-binance-launchpool-farm-cyber-by-staking-bnb-tusd-and-fdusd-7d1f62e7483d406584a754a38094358a).

## Community Rewards: Season 1

At CyberConnect, we are on a mission to empower users to create long-lasting on-chain connections through the power of web3. CYBER token and CyberDAO are crucial steps in fully succeeding in that mission by entrusting a decentralized community with control over the future use of the community treasury and all core upgrades to the protocol’s infrastructure.

Thanks to our dedicated community of early adopters, we’ve made significant progress toward this mission over the past two years.

We’re excited to introduce Season 1 of CyberConnect Community Rewards to recognize the support of our earliest adopters and community members.

- Community Rewards Season 1 claiming will begin **August 15, 2023, at 12 PM UTC**.

- Users can check their eligibility starting **August 4, 2023**.

- A total of 2.4% of the total supply (2,400,000 CYBER) will be available for claiming.

- Holders of the following are eligible for claiming rewards in Season 1: 

✧ Mystery Box ([ETH](https://etherscan.io/address/0xce4f341622340d56e397740d325fd357e62b91cb), [BNB](https://bscscan.com/address/0xcadc6c364e8fcad0f382fddfd6ff5b41d82eb3e4))

✧ The Shards ([ETH](https://etherscan.io/address/0xd9c225efcc4162173a7369a14fd559de4e4aadae), [BNB](https://bscscan.com/address/0xf1d9a02674a7a45dc4d5cdd5da330f6a989f77d5))

✧ Mini Shards ([BNB](https://bscscan.com/address/0x1bc274c3b3b24cef54d01aeeb9ffc73ac0b68936), [Polygon](https://polygonscan.com/token/0x49253c64e6fa46d299177b8a94ae49d2f82c5c95#balances))

✧ W3ST

✧ [CyberProfile Early Adopter NFT](https://bscscan.com/token/0xdFf431165c232090ab28B476b5f7F3995c84CF7C)

✧ CyberProfile Premium Handle (11 Characters or Lower)

Specific reward guidelines will be shared on Aug 4, 2023. Stay tuned on our [Twitter](https://twitter.com/CyberConnectHQ), or keep an eye on [Link3](https://link3.to/).

**Things to Remember:**

- A snapshot has already been taken at 6 AM UTC on August 1, 2023, for the existing holders of the above-mentioned NFTs, and transferring has been suspended. **Please do not attempt to transfer NFTs, as it will result in a loss of gas fee.**

- Opening an unopened Mystery Box will have no effect on the reward distribution. **Please do not attempt to open Mystery Box as it will result in a loss of gas fee.**

- Unclaimed Mystery Boxes, Mini Shards, and W3ST will be automatically airdropped to users’ wallets. **Please do not claim them as it will result in a loss of gas fee.**

- CyberTrek and CyberConnect FanClub will suspend NFT rewards and transition into a new points system called **CyberPoints**. 

- FanClub Raffle Week #21 will run normally; NFTs will be airdropped to winners automatically and counted towards Season 1 Community Rewards.

- All progress made with CyberPoints on CyberTrek and FanClub will be considered for future seasons of community rewards.

- Community Rewards Season 1 will be available to claim at [cyber.co](https://www.cyber.co/).

- CYBER purchased during the CoinList public sale will also be available on **August 15, 2023, at 12 PM UTC.**

## Season 2: Soon

Season 1 of Community Rewards is just the beginning. There will be several more seasons.

With CyberTrek’s impressive success in its first week, we’re sure we’re onto something special. Season 2 will specifically reward the earliest adopters and ambassadors of CyberAccount and the upcoming CyberWallet. Be sure to meet the minimum top-up requirements to be eligible.

All activity after 6 AM UTC on August 1, 2023, will be considered for Season 2.

## Updated Token Distribution

CyberConnect protocol’s native utility and governance token CYBER can be used for the following functions:

- **Governance**
CYBER token holders have voting power and can delegate their voting power to others. Protocol improvements are decided based on voting power.

- **Payment for CyberID**
[CyberID](https://link3.to/cyberconnect/post/92e4477c7833a3e8a793c14e8ec884421a5c30edc9afb06d5ce2177ff22c074a) is an ERC-721 token that represents a unique handle for users’ accounts in the CyberConnect social network. CYBER will be used for payment when purchasing CyberID.

- **CyberAccount Gas**
CYBER will be used as the price meter and means of payment for gas fees for all transactions within CyberAccount across EVM-compatible chains.

More CYBER use cases shall be introduced by CyberDAO.

Since the conclusion of the [CYBER public sale](https://link3.to/cyberconnect/post/d430762b4c4a220decb9e8875db78f9af741699774d483d11b9c7203b1582e36) on CoinList, we’ve updated the token distribution.

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/bf889a16be9636c2)![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/20c313b99ea6f70a)

Read [this ](https://research.binance.com/en/projects/cyberconnect)to learn more about CYBER’s utility.

## About CyberConnect

[CyberConnect](https://cyberconnect.me/) is a web3 social network that enables developers to create social applications empowering users to own their digital identity, content, connections, and monetization channels. Messari, Rarible, 1inch, and BNB Chain, along with 2,500 projects, and 1.2M users and creators are building long-lasting connections through apps built on CyberConnect.

**Join CyberConnect Community**

[Website](https://cyberconnect.me/) | [Docs](https://docs.cyberconnect.me/) | [Twitter](https://twitter.com/CyberConnectHQ) | [Discord](https://discord.gg/cyberconnect) | [Telegram](https://t.me/CyberConnect)

🦄 With the thriving of AI & Web3 and the vision of gathering top experts, U2U Foundation and WowDAO have decided to bring this vision into reality. The idea of Worldwide AI & Web3 Summit was established.

🎯 U2U Foundation and WowDAO carry an objective of bringing updated AI & Web3 knowledge to the community, giving chances for users to discuss and connect with experts from big enterprises, such as Meta, Google Deepmind, Qualcomm, Intel, HAI Stanford, etc.

📌 Audiences can gain more insights into the AI & Web3 world, in which the AI & Web3 for a sustainable world will be disclosed in a Fireside Chat with U2U Foundation.

🗓 Event Date: September 28th - 29th, 2023 (PST)

🎫 Secure your FREE tickets [HERE ](https://wowdao.ai/summit).

🔥 Claim your FREE ticket now and be part of the Worldwide AI & Web3 Summit!

Get the latest updates here: [Blog](https://uniultra.xyz/blog "Blog") | [Twitter](https://twitter.com/uniultra_xyz "Twitter") | [Telegram](https://t.me/UnicornUltra "Telegram") | [U2U Council](https://council.uniultra.xyz/ "Council")

🦄 With the thriving of AI & Web3 and the vision of gathering top experts, U2U Foundation and WowDAO have decided to bring this vision into reality. The idea of Worldwide AI & Web3 Summit was established. 🎯 U2U Foundation and WowDAO carry an objective of bringing updated AI & Web3 knowledge to

🔥 WORLDWIDE AI & WEB3 SUMMIT: FROM MOTIVATION TO PRACTICE

## **gm**

***At Superscrypt our mission is to support founders and projects that will bring on the next wave of users to the blockchain space. We take a research-driven approach to identify key web3 building blocks that will push the boundaries of how we interact, create and share value globally.***

***Today, we are onboarding ourselves into Web3 Social by launching our blog on Mirror and Link3, to share our views with the world. First up, Web3 social.***

## **Introduction to Web3 Social**

The use of decentralized, blockchain technology is changing the way our world operates. While the most popular use case of blockchain has been financialization (tokens, DeFi, and NFTs), the technology is now being used to power new forms of identity, data ownership, and communication enablement in the form of blockchain-powered social networks, known as **Web3 Social**. In this article, we examine the core value propositions of Web3 Social, how the various protocols and platforms work, the level of product-market fit seen today and its potential to become the future of how we interact, build communities, make friends and transact online.

The best way to understand the viability of Web3 Social is to first understand how past waves of innovation came to be and assess if Web3 Social shares similar characteristics. Waves of innovation are found at the crossroads of technology innovation and new consumer / business value; they change the way our world works and in hindsight often feel obvious. Just like the real world, tsunamis are often followed by several large waves. For example, silicon chips and the internet were tsunamis followed by waves of personal computing, e-commerce, digital financial services, and web2 social platforms. In web3, Blockchain is the new tsunami, followed by the waves of decentralized finance, dapps and NFTs. Will Web3 Social be a new wave? Will it provide enough additional value than its predecessors? Let’s dive into the proposed Key Value Propositions Web3 Social offers.

## **Key Value Propositions** 

### 1. Open Data & Portability 

The social media applications we use today leverage complex underlying data networks that make our experiences possible. These are called “**social graphs**”; interconnected data structures that map our digital relationships and interactions, who we follow and subscribe to, what we like and more. In Web 2.0, social graphs are private systems with all assets, data and behavioral analysis owned or controlled by internet companies. As users, we lack any real ownership or control of this data and as a consequence social graphs are “siloed” and walled-off  from other platforms; our identities and experiences will likely never be connected across platforms. To use new platforms, users have to rebuild past social connections and history, but this comes with significant friction, leading to platform lock-in. If end users want to switch from one application to another, they have to start from scratch.

How is Web3 Social different? For one, it aims to establish a base layer where users' social graph data is transparent, permissionless, portable, and most importantly in their control. Let us call this model “**open data**.”

**Open data** allows users to easily onboard new applications built on the same social graphs without having to deal with this redundancy issue. Anyone who uses Web3 Social platforms can take their data to whichever app they want. Imagine a world where Joe Rogan and Spotify decided to part ways. Today, Joe Rogan and other creators have limited access to their fans, subscribers and content, and he’d, in some respects, have to start over on another platform. With Joe Rogan’s popularity, that shouldn’t be an issue, but for 99% of artists, this is a big deal.

Isolated data prevents independent developers from tapping into these social graphs and **building new experiences and applications for users** on top of them. Consequently, innovation in the social app space has a massive cold-start problem. New social applications are frequently being developed, but often fail as they are not able to get traction. With Web3 Social, users may be more willing to try new social experiences if they can bring their data and friends along. An example of a new, novel Web3 Social experience is Link3, a social application built on the CyberConnect protocol. Link3 is a mixture of LinkedIn, Medium, and Eventbrite, but with crypto primitives embedded within it — allowing you to connect your wallet, NFTs, ENS names to build your profile & reach. There are many more examples of novel social experiences stimulated by Web3 Social that will be covered in following sections.

![](https://lh6.googleusercontent.com/WKrrFg6eGZYUjKxUGxmqsj4_-x7FWVcVaJdh1LD3O52gd087ASwJeLwZiICEfAdlqNyQNTJ8oACwvW8CxxNFvcusfqTUK_sub6doFyuBsCdwY-SNY2VnRDLIQbZsb-tcSkrxAEuj-J-kDFWNsnTqXDA)

Eliminating data silos also lowers the barrier to entry for new developers, reducing the network effect of gated social graphs that otherwise monopolize user data. Open data can allow applications to read and write data to ***multiple*** social graph protocols; users can connect their IDs from multiple Web3 Social profiles to one application, and to many applications. Phaver is a good example of a Web3 Social application that connects the social graph of users from different networks in one interface, by integrating with both Lens Protocol and CyberConnect.

Open data standards simply allow us to create more without borders.

We are seeing examples of open data within existing Web2 Social applications today. META, the owner of Facebook and Instagram, recently launched Threads. While the long-term value of Threads as an application is yet to be determined, Threads allows users to instantly follow and connect with their Instagram friends as soon as they sign up. However, your data on Instagram and Threads is still siloed within the walls of META. Threads announced the possibility of integrating with ActivityPub, a standard communication protocol that allows users to interact with all platforms using ActivityPub, but has not integrated yet.

The walled gardens of Web2 Social also have a tremendous impact on businesses operating on those platforms. Reddit recently enforced API pricing which led to several applications shutting down, much to the outcry of the community. This would not be a problem if Reddit was built on Web3 Social infrastructure as these apps & communities would be able to  bring their followers and content to new platforms with more favorable terms or value alignment.

On the content creation side, a lack of platform lock-in will give creators the choice to migrate to a different application while retaining ownership of their social graph data, mitigating situations where platforms change their monetization, moderation, or revenue sharing models. In Web2 Social, data silos inhibit creators from having this freedom of choice.

### 2. Composability: unlocking a sea of new possibilities

Since Web3 Social protocols are deployed on blockchains, they are often highly composable with other smart contracts and protocols. This open data architecture allows developers of new crypto innovations to freely integrate with Web3 Social protocols & apps — like connecting a user’s on-chain history to populate their social profile, displaying the NFTs they own as credentials and enabling them to turn their content and posts into NFTs and potentially sell them. Composability is lacking in traditional social media, and even in the few cases where crypto was integrated with Web2 Social, it was neither native nor complete.

Coupled with open data, web3 composability enables creative developers to integrate their social platform with crypto protocols — from DeFi apps, metaverse games, DAOs, NFTs and everything in between. For example, Warpcast is a platform built on the Farcaster protocol that allows users to locate other members of the same NFT communities, holders of the same POAP, and even link ENS domains to a user’s profile. These functionalities are enabled by connecting an Ethereum address to a profile, creating an on-chain holistic identity. Other platforms also offer similar features, with some like Phaver allowing users to connect their Lens profiles, ENS domains, and Farcaster ID to a single profile. Another example of Web3 composability is CyberConnect’s subscription models, which allow users to define creator-to-subscriber relationships through the power of SubscribeNFTs.

Another possibility is  SocialFi, a concept Mason Nystrom from Variant Capital [wrote about recently](https://variant.fund/articles/socialfi-financial-component-web3-social-media-apps/). SocialFi refers to the integration of the social layer and the financial layer of someone's digital life. Imagine what traditional social media platforms would do if they had unlimited access to traditional financial exchanges, banks, lending providers, crowdfunding platforms, etc. Other SocialFi features include micropayments enabled on a Web3 Social app, on-chain lending credit scores connected to a social identity and biometric proof-of-personhood connected to a social profile.

The possibilities for crypto composability are endless, as Web3 primitives continue to expand and develop - new experiences await.

### 3. Next-Level Community Enablement

Blockchain infrastructure is a powerful tool to bring people together over a common purpose. We saw this in the last few years with token-powered communities coordinating a bid for the American Constitution (ConstitutionDAO), vote for DeFi protocol governance (Uniswap, Safe, Maker, Gnosis), invest in digital art (e.g. PleasrDAO) and build social clubs around NFT collections. Participants became owners and highly engaged stakeholders.

Combining new innovations like dynamic NFTs with emerging Web3 social protocols will take these experiences to the next level. This can be further augmented by combining real-world data into Web3; for example certifications, purchases, relationships, more relevant communities can be spun up instantly, genuine relationships will be more easily formed, and new forms of commerce will emerge.

Visualize a web3 social graph connected by holistic identities (say, NFT profiles or other forms of tokenization) that can cross-reference similar characteristics with each other. Open data and transparency allow platforms to automatically spin up communities based on profiles sharing similar characteristics with other profiles in the social graph.

Some thought experiments:

- A user of a LinkedIn-esque web3 platform could attach an identifier to their profile that associates them with their alma mater university, let’s say in the form of an NFT attribute. The platform could automatically create an alumni networking community for users with the same alma mater; in similar ways, communities can be created automatically, globally, and exempt from web2 data moats using such methods. Not only does it allow individuals to join communities, but it also allows artists, writers, influencers, and other creators to build communities with all those who follow them.
- Imagine an author who sells a book with an attached NFT, and every NFT holder (also an authenticated purchaser of the book) can join a community to talk about the book and communicate with the author. As we will see soon, there are also real examples of Web 3 community enablement, including users of Warpcast and other Web3 Social apps being able to easily find user profiles of others in the same NFT ownership community. These forms of global and unified community enablement transcend what web2 can currently do.

Orb, a Web3 Social application, is bringing some of these thought experiments to life. Orb allows for the transformation of any on-chain activity or possession into a cohesive community. Possessing a specific quantity of a particular ERC-20 token, holding an NFT ticket for a specific event, or collecting publications, for instance, can all be moulded into distinct communities. Web3 Social allows for new ways of building communities, make friends and at a much deeper level than what exists today.

### 4. Censorship Resistance & Ownership

Regardless of creed, belief or opinion, freedom of speech and expression is arguably a cornerstone of social media, though the limits are always under debate. Given the power and control traditional social platforms hold over our data, they are in an unparalleled position to moderate what is said online and deplatform users at their discretion. There is no recourse for the user other than to just deal with it.

A recent instance of platform moderation was revealed to the public after Elon Musk took over Twitter (now rebranded as “X”). The “Twitter Files”, a series of revealed internal Twitter documents, revealed how the company app was suppressing and controlling information on the platform behest of governments’ requests or information it deemed to be unsafe. While Elon advocated for truth and transparency with the “Twitter Files”, ironically, after Twitter rebranded to “X”, the company unceremoniously claimed the “@x” handle from a user. This also happened with the account who owned the “@music” handle.

<tweet id="1687223289482035200" />

These examples highlight how in traditional web2 platforms users are never truly the master of their own identity, account and in some cases their voice. Web3 social solves this - to an extent. Applications built on Web3 Social protocols *can* still moderate content, but users maintain full ownership and the option to leave one application for another and still keep their data, or even build their own censorship-resistant application if all else fails. The core tenet here is that there is no lock-in to a particular application – whenever users want to, they can abandon a social application and migrate to a brand new one, taking all their data with them.

### Key Value Propositions – Conclusion

What’s so exciting about Web3 Social is that it unlocks entirely new experiences for community, commerce, composability, engagement, ownership and identity, all while it serves to solve some of the core ills of existing Web2 Social platforms. New ways to build community, make friends and transact are around the corner.

What’s also exciting is the caliber of entrepreneurs entering the space. Within Superscrypt’s investments, Airstack, Collab.Land, Orb, Notifi and Salsa are solving different challenges on access, experience, or interoperability of Web3 Social.

There is still much work needed to bring Web3 Social to the masses; the technology and adoption is growing, but still in its infancy. We expect more iterations before true product-market-fit is achieved and will share more updates soon.

This article was prepared in collaboration with the University of Southern California (USC) Blockchain Club [@blockchainusc
](https://twitter.com/blockchainatusc?s=21&t=KZ8_c_u_e6DjPIgbkuztbA)

**Superscrypt Contributors:**

Jad Chahine

Jacob Ko

Ji Hao

Joseph Yvonne

Yvonne Ang

**USC Contributors:**

Giovanni Zaarour

Chase Jeter

Luca Cordova-Stuart

Liangchen Zhou

Tianzuo Zhang

⚡️AMA ALERT DAO DISCOVERY ⚡️

Scalar DAO has been invited to our Contributor Dapps.co Discord Group for an AMA.

A great opportunity for a deeper understanding of

- the origins of Scalar DAO
- the ethos it represents
- the vision to democratize Margin Trading on DEXs
- how we will enable the DAO members 

👉🏼 **Date & Time**: 21 Sep 2023, 1330H UTC

👉🏼 **Venue**: [https://discord.gg/JpCtjefB](https://discord.gg/JpCtjefB)

Join us for a power-packed Q&A session!

#scalingdefi

⚡️AMA ALERT DAO DISCOVERY ⚡️ Scalar DAO has been invited to our Contributor Dapps.co Discord Group for an AMA. A great opportunity for a deeper understanding of the origins of Scalar DAO the ethos it represents the vision to democratize Margin Trading on DEXs how we will enable the DAO me

AMA with Scalar DAO on Dapps.co

*In this post, we will take a close look at the method of calculating profits and losses (PnL) used in the 1inch Wallet’s recent upgrade.*

For crypto traders and investors, accurate and up-to-date portfolio information is vital. Therefore, in the 1inch Wallet’s recently released new version for Android, the Portfolio feature was added. It allows users to run complete wallet-driven asset management, monitor real-time and overall token performance and optimize their investments, also displaying a full picture of their portfolio activity at any time.

In the Portfolio feature, 1inch employs a formula for calculating a user’s PnL over any specific period of time. To facilitate calculations, three elements are required: a complete transaction history, the traded asset’s price for each transaction and the asset’s current value in USD.

And this is the formula:

PnL= Current Value − Inflow Value + Outflow Value

Current Value is the current worth of the user’s asset.

Inflow Value is the total amount the user invested.

Outflow Value is the total amount the user withdrew.

ROI= PnL / Inflow Value

Let’s consider a real-world example.

Meet Bob, a blockchain trader. Bob made 3 trades:

On January 1, 2023, he bought 100 tokens at $1 each.

On March 10, 2023, he bought another 50 tokens at $2 each.

On May 12, 2023, he sold 60 tokens at $2.5 each.

Now, let's help Bob calculate his PnL and ROI.

Suppose, the token’s current price is $1.5. Here's how Bob’s PnL is calculated:

Current Value: (100 + 50 - 60) * 1.5 = $135

Inflow Value: 100 * 1 + 50 * 2 = $200

Outflow Value: 60 * 2.5 = $150

PnL = 135 - 200 + 150 = $85

ROI = 85 / 200 = 42.5%

In simple terms, Bob invested $200, withdrew $150 and could withdraw another $135, making his total $285. His current gain is $85.

ROI tells traders how much they earned per dollar invested. In this example, Bob gained $1.425 for each dollar he invested.

*Stay tuned to learn more about 1inch’s tech!*

**Scalar DAO is getting Ready for its Token Fair Launch..**

**But before that, we need to complete the following steps..**

1️⃣ **WALLET & SOCIAL VERIFICATIONS**

- MANDATORY for all those want to own Believers NFT
- Also Applicable to confirmed wins on quests
- Details to be announced later

2️⃣ **BELIEVERS NFT AIRDROP**

- 1 NFT to be airdropped to each verified address

3️⃣ **TOKEN ALLOCATIONS & BUY**

- Starts on completion of Believers NFT Airdrops 
- BUY window to be opened for limited time
- First 888 'Believers' NFT holders to click on 'BUY' get confirmed allocations at Fair Launch

4️⃣ **‘LEGENDS’ NFT**

- Special NFT for those who buy into their allocations
- Total 888 Legend NFTs only
- Special perks like Fee Discounts, Share in protocol fees & more

5️⃣ **TGE & LISTINGS**

- Final step in Fair launch process
- Includes Launch of Scalar's Tokenomics & Governance 
- TGE + Listings on DEXs & CEXs & Aggregators

🔅 **For Details on the Steps to Fair Launch read**: [https://bit.ly/ScalarDAO-TokenFairLaunch](https://bit.ly/ScalarDAO-TokenFairLaunch)

👀 Stay tuned for updates 👀

#scalingdefi

Scalar DAO is getting Ready for its Token Fair Launch.. But before that, we need to complete the following steps.. 1️⃣ WALLET & SOCIAL VERIFICATIONS MANDATORY for all those want to own Believers NFT Also Applicable to confirmed wins on quests Details to be announced later 2️⃣ BELIEVERS N

⚡️ SCALAR DAO TOKEN FAIR LAUNCH ⚡️

In our quest to offer optimal solutions and avenues for our users, we are proud to announce that ReHold has been successfully deployed on [Base](https://app.rehold.io/?chainId=8453&utm_source=link3&utm_campaign=reholdonbase).

## ![img](https://link3-image.cyberconnect.dev/8b6687a2-a45b-471b-b05c-610856a67f33/postImageFolder/99ba782c0eebf460)Diving Deep into Base

A product incubated within the renowned Coinbase ecosystem, [Base](https://app.rehold.io/?chainId=8453&utm_source=link3&utm_campaign=reholdonbase) stands as an Ethereum Layer 2 (L2) powerhouse, aiming to bring the next billion users onchain. It melds security with scalability and is tailor-made for developers. Its infrastructure is set to facilitate seamless deployments of any EVM codebase.

Among its innovative features, Base boasts early access to Ethereum's Account Abstraction (ERC4337), efficient APIs for gasless transactions, and advanced smart contract wallets. Built on the open-source, MIT-licensed OP Stack and in partnership with Optimism, Base reinforces the principle of collaborative and transparent tech development. Furthermore, its deep integration with Coinbase facilitates smooth fiat onramps and broadens reach within the expansive Coinbase user community.

## Expanding Horizons with ReHold on Base

With our deployment to [Base](https://app.rehold.io/?chainId=8453&utm_source=link3&utm_campaign=reholdonbase), we're introducing a new realm of Duals, all while maintaining the core features of ReHold that our community values. Continue to leverage gas-free [Limit Orders ](https://rehold.io/blog/introducing-limit-duals-streamlining-investments-on-rehold-v2?utm_source=link3&utm_campaign=reholdonbase)and the distinct [Auto-Replay](https://rehold.io/blog/auto-replay-function?utm_source=link3&utm_campaign=reholdonbase) function, further enhanced by Base's robust capabilities.

## ![img](https://link3-image.cyberconnect.dev/8b6687a2-a45b-471b-b05c-610856a67f33/postImageFolder/ab8927f4818cdbf6)**In Conclusion**

With this move, [ReHold](https://app.rehold.io/?chainId=8453&utm_source=link3&utm_campaign=reholdonbase) reinforces its commitment to staying at the forefront of technological innovation in the cryptocurrency domain. We're optimistic about the future and warmly invite our community to explore and grow with us in this new venture.

In our quest to offer optimal solutions and avenues for our users, we are proud to announce that ReHold has been successfully deployed on Base. Diving Deep into Base A product incubated within the renowned Coinbase ecosystem, Base stands as an Ethereum Layer 2 (L2) powerhouse, aiming to bring the

ReHold is Now Live on Base

Are you looking to be at the forefront of the CryptoHub Launchpad's development as an investor? We have exciting perks lined up for you, including the opportunity to earn more points in our ecosystem that can be converted into $HUB Tokens and elevate your rank through staking.

## **CryptoHub Investor Benefits**

As an investor in the CryptoHub Launchpad, you gain access to exclusive benefits that enhance your investment experience and provide additional rewards. These benefits include:

**Access to Diamond Projects:** Investors enjoy privileged access to high-quality Diamond Projects hosted on the CryptoHub Launchpad. This ensures that you have early access to promising investment opportunities with significant growth potential.

**Higher APY in selected staking pools:** Staking your $HUB Tokens in selected pools as an investor allows you to earn a higher Annual Percentage Yield (APY). This means you can maximize your earnings and generate passive income through staking.

**Priority in presales:** Investors get the advantage of being able to buy first in presales hosted on the CryptoHub Launchpad. This ensures that you have the opportunity to secure your investments before they are made available to the wider market.

## **How to Become an Investor**

Currently, the only way to become a certified investor in our ecosystem is by purchasing our Hubby NFTs, which represent the mascot of the CryptoHub platform.

When you acquire a Hubby NFT, you will be able to claim your investor role in our Discord community. Additionally, you will receive a random amount of $HUB Tokens and have a small chance of receiving a bonus Shareholder NFT, granting you access to a percentage of the profits generated by the CryptoHub Launchpad Platform.

![img](https://link3-image.cyberconnect.dev/3444ccba-58ad-41b6-a866-bed4babd6ee0/postImageFolder/ec7be4ed757f0891)The more Hubbys you purchase, the greater the number of $HUB Tokens you will receive, and the higher your reputation as an investor becomes. If you hold 10 Hubbys, you will be awarded the **Skilled Investor Role** in our Discord community. Should you manage to acquire 20 or more Hubbys, you will attain the status of an **EPIC Investor Role**, unlocking a multitude of tokens and achieving a higher rank within our platform.

Join us as an investor in the CryptoHub Launchpad and position yourself for success in the ever-evolving world of cryptocurrency investments.

Are you looking to be at the forefront of the CryptoHub Launchpad's development as an investor? We have exciting perks lined up for you, including the opportunity to earn more points in our ecosystem that can be converted into $HUB Tokens and elevate your rank through staking. CryptoHub Investor Be

CryptoHub Launchpad | Investors

gm on-chain friends 👋

Welcome back to CyberLetter, our bi-monthly recap of all things CyberConnect.

Here’s everything we’ve been up to these past few weeks 👇🏼

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/c75d6d0ea7bfe6a3)

**CYBER is here 👋🏻**![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/abb6f5866535f5e7)Have you heard? Early last month, CYBER was introduced on Binance Launchpool as its 37th project and has since been listed on most of the top exchanges around the world. As a reminder, CYBER is the native utility and governance token for the CyberConnect social network protocol.

To learn more about CYBER and its utilities, read [this](https://link3.to/cyberconnect/post/d430762b4c4a220decb9e8875db78f9af741699774d483d11b9c7203b1582e36) article.

The most updated token distribution can be found [here](https://link3.to/cyberconnect/post/8286a1724b50cf80ba9bbcee753d1851ed0f51e74084938f900d46f9505a9462).

**Over 500k+ Users have completed the CyberTrek 🤯** ![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/453873405dda232c)With every passing day, we’re getting one step closer to bringing Web3 to the world. In recent weeks, we made one of the biggest leaps as a community by bringing account abstraction - the all-powerful new primitive on Ethereum - to users in a usable, actionable form. Web3 has been buzzing with keywords like AA or ERC-4337, but most users don’t know what crypto jargon like batch transactions, gasless transactions, bundlers, etc. mean.

Put simply, account abstraction is an upgrade to the account system on Ethereum that makes it possible to make the user experience on blockchains less daunting, more familiar, and super intuitive - like Web2. Last month, we introduced CyberAccount - an ERC-4337-based smart account to help you experience Web3. We’re excited to report that since its launch, more than 500k CyberAccounts have been deployed across Linea, Polygon, Optimism, and Base. In the coming weeks, CyberAccounts will be available on opBNB and Arbitrum 🚀

If you haven’t already, create your first smart account here 👉🏼 [link3.to/cybertrek](https://link3.to/cybertrek).

**Animoca Brands 🤝 CyberConnect** ![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/98f27e63c2a3130d)Animoca Brands has played a key role in our journey, both as an investor and a collaborator. We decided to take our partnership to another level and recently announced that our smart account infrastructure [CyberAccount](https://link3.to/cybertrek) will power the identity layer of Mocaverse, Animoca’s premier NFT collection. This strategic partnership will offer companies in the Animoca Brands’ portfolio the opportunity to build their own social graph and power interoperable user experiences across games, products, and services.

To learn more about this partnership, visit [here](https://www.animocabrands.com/animoca-brands-and-cyberconnect-partner-to-build-decentralized-social-layer-for-mocaverse).

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/d7fc43eda7f59827)[Be(in)Crypto](https://beincrypto.com/web3-cross-platform-migration-social-media/) 🗯️

“Web3 Streamlines Cross-Platform Migration,” said Ryan Li, cofounder at CyberConnect

[CoinTelegraph](https://cointelegraph.com/news/revolutionizing-social-networks-with-web3-phaver-and-cyberconnect-ama) 💣

Revolutionizing Social Networks with Web3: Phaver and CyberConnect

![img](https://link3-image.cyberconnect.dev/5ebbb9fa-9d33-4741-a22d-2a7dc4b95c0c/postImageFolder/15ddb3db5a099dee)**Read 📖**

Curious about account abstraction?

Check out [this deep-dive article](https://coinmarketcap.com/alexandria/article/erc-4337-driving-web3-adoption-for-wallet-nfts-decentralized-social-and-beyond) on CoinMarketCap about how account abstraction is unlocking a key bottleneck in Web3 related to user onboarding.

There’s also [this really awesome report](https://link3.to/superscrypt/post/99a5a32048bf974420515c5cbbb0aea2e33a4cfb5abe4ad5102e617355f377df) from SuperScrypt, a VC firm on the up-and-coming Web3 social space.

**Collect 🛍️**

Now that you’ve learned about account abstraction, want to experience it yourself?

Start your account abstraction journey by [minting your first NFT](https://link3.to/cybertrek) on any one of the six supported blockchains. P.S. There are rewards 🤫

✌️✌️✌️

That’s all for this edition! See you later!

**Remember: On-Chain Friends Last Forever 🔗 ⭐️ 🥰**

— Team CyberConnect

*Thanks for sticking with us. If you like what you read, subscribe to this newsletter and follow us on [Twitter](https://twitter.com/CyberConnectHQ). Want to contribute? Join our vibrant community by clicking [here](https://discord.com/invite/cyberconnect) or dive into our developer docs [here](https://docs.cyberconnect.me/).*There

On May 18th, 2023, CYBER, CyberConnect protocol’s native utility & governance token, will be available for sale to the public through CoinList. This public sale will introduce 3% of the total supply of 100,000,000 CYBER into circulation and will be available to residents of select jurisdictions.