CyberFi’s goal is to make DeFi sector more automated and turn it into DeFi 2.0, where manual processes would be eliminated, and user experience significantly better, simpler, and smoother.
The DeFi sector of the digital currency industry is by now well known among all those interested in crypto and blockchain technologies. While it has been around for years, DeFi truly went big only last year, starting in June 2020. In only nine months, however, it has exploded into a massive part of the crypto sector, attracted attention, and dozens of billions of dollars to its TVL.
DeFi, or decentralized finance, offers solutions similar to those offered by traditional banks, such as lending and borrowing money. It offers staking, liquidity providing, yield farming, stablecoins, decentralized exchanges, and much more. Essentially, interest in DeFi shows that the crypto industry is maturing, and that people are interested in using cryptocurrencies in new ways, not just for trading.
But, alongside DeFi, the crypto industry itself exploded thanks to institutional interest, benefits of contactless payments during the pandemic, rising prices, and more. As a result, a lot of new investors have started coming to this space, many of which are completely unfamiliar with the technologies, and are only driven by the desire to earn.
This is a perfect opportunity for DeFi to make those who came for the money decide to stick around for advanced services. However, DeFi is largely technologically based, and as such, it can be intimidating and difficult to understand. Fortunately, there are projects like CyberFi, that are aiming to simplify it by offering automation platforms.
What is CyberFi?
CyberFi is a DeFi automation platform that functions as a multi-product ecosystem, enhancing the DeFi experience of those entering this newly-emerging sector. The project aims to solve a number of problems, including barriers to entry, difficult user experience, large fees (DeFi is largely based on Ethereum, which is extremely over-encumbered), as well as divergence/impermanent loss.
In fact, CyberFi comes as a combination of a DEX, an intelligent automation system for complex DeFi strategies, and a cross-chain layer for multichain DeFi automation. Its goal is to end the manual nature of DeFi apps, such as gas wars and overpaying for fees, stress and frustration that have come to accompany the DeFi market, as well as the need to be on Uniswap constantly.
Essentially, the project wants to make decentralized exchanges more like centralized ones, but with the decentralization aspect intact.
The project also launched a Samurai Launchpad, and it recently launched its very first launchpad project, choosing Stater to be the one that it will support. As such, The Samurai Launchpad Whitelisting is now officially open for Stater, according to the project’s recent post.
Before that, it partnered with Gourmet Galaxy, which will allow it to venture into the NFT space. This is an important step for the company, considering how big NFTs have come to be over the past few weeks. Many believe that NFTs are the new trend of the year, and so being among the first to move into this space is likely going to be very beneficial for CyberFi.
The company said that it is very interested and excited about the new opportunity to explore NFT space and its possibilities, and Gourmet Galaxy can help make it happen.
Earlier in March, the project also saw its native token, CFI, get listed on QuickSwap, powered by Polygon, previously known as Matic Network. The move will make CFI very easy to access and cheap to purchase. The coin is paired against USDC and QUICK, giving users the ability to use either QuickSwap’s native coin, or a popular stablecoin.
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