CyberFi V1 Beta <>Public Release</>
Hi! Geralt here!
Today we are excited to launch our Beta to the Public. This marks our second product public release after our own staking platform, a great addition to the DeFi market in terms of functionality and risk-management that has been un-existent before and the plans for a Transaction Mining Program. This launch also marks the first utility enabled for the $CFi Token.
Beta Live: https://cyberfibeta.space/#
Overview
While building CyberFi we were focused on bringing automation to the most popular activities in DeFi — Trading and Liquidity. Currently, the CyberFi Platform supports 2 main types of Automation:
I. Liquidity Pools Management
II. Limit Order Management
Both of them use our Smart Order system where Triggers on Price Divergence activate an automation scenario where several TXs are automated. Put it simply we have an IF — THEN platform, where the IF is the price movement and THEN is the actions that are automated.
Limit Orders and Cross Limit Orders
Let us run by the existing Limit Order types and see how they are different from what is currently there in the market.
Above we see the Limit Orders we are all used to. Select what you want to buy, with how much ETH(or any other token to ETH). The biggest difference comes from the way CyberFi’s infrastructure works.
Usually, Limit Orders are done directly through Smart-Contracts. This causes the need for 2 TXs (set Limit Order + Limit Order pushed through Smart Contract when Price Triggers) and double gas spendings, also rely on Oracles to catch the price movement and to activate the Limit Order which may create a time lag. Additionally, through TX hashes, malicious users have a very long period of time to plan a front-run attack on your TX.
The way CyberFi works is that we only do 1 TX. When the user creates a Limit Order he signs a Transaction with his seed, which is then stored off-chain.
What does this mean?
When you sign TXs on Metamask the way it works that Metamask has your seed and can authenticate a TX and approve it by creating a signed hash of the TX, then it is automatically sent to the ETH blockchain. With CyberFi after it is signed it is not automatically sent to the ETH blockchain, it is then stored to be sent out when the Trigger Event happens.
This allows us to have an incredibly fast reaction time(Price Triggers), spend gas only once, and store TXs in a way that is private and does not leave them in the open for front-running.
The downside to this is the following — if the wallet that set the Smart Order on CyberFi, does any other TX before it has been activated that will overrule the Smart Order and when the price triggers the TX will fail. We are currently working on a solution to this.
After the Limit Order is set you will see the following in the Orderbook.
Now that we are familiar with Limit Orders, we will analyse Cross Limit Orders.
From the above image, we see that this is a Limit Order that is planning to buy WBTC for 10 ETH when the price of the ETH/USDT pair will hit 1500$.
Additionally, this will work as well where you are buying WBTC for ETH but have the price trigger say on the LINK/USDT pair.
This is a great feature for correlating assets, allowing traders to set Advanced Smart Orders for execution.
Liquidity Pools Management and Liquidity Mining Auto-Exit Automation
As discussed previously the manual nature of DeFi carries an enormous amount of risk — our solution for LP automation has created a new way for users to interact with DeFi and a first-of-its-kind risk-management platform.
On the Automation Side for LPs there are 4 main types of Smart Orders.
I. Add Liquidity
II. Remove Liquidity
III. Remove Liquidity and auto-sell one of the assets from the LP
IV. Remove Liquidity through exiting from Liquidity Mining Programs first (can be combined with III.)
Add Liquidity Smart Orders.
Let’s say I want to buy in CFi/WETH LPs to then deposit them into https://stake.cyberfi.tech/. (Casual story in crypto lots of projects have liquidity mining programs)
Thus I’m setting a Smart Order to get into the LP at a possible drop of the $CFi price. Where it’s currently at around 6$ and I want to get into the LP at 4.5$ per $CFi. Through the interface I will also select that I’ll be entering through my ETH position.
When and if $CFi hits 4.5$ the Smart Order will take the allocated ETH from the wallet, sell half of it into $CFi and add liquidity with ETH and CFi creating an LP token.
There are many great ways to use this Automation. Adding a layer of Smart Orders to Adding Liquidity will be a great tool for active LP users.
Moving to Remove Liquidity Smart Orders.
We will be looking at a Remove Liquidity and auto-sell one of the assets from the LP Smart Order. The only difference from the standard one is that we have the “sell one of your assets” tab activated.
This works in the same way as Adding Liquidity that we looked at before.
Users set a price at which the CyberFi platform takes their LP and removes liquidity from it. What we have found is that pretty often when there is a dump the user would also be interested in selling one of the assets in his LP to a more stable currency say ETH or USDT. So we added that into the Automation.
This works instantly through Smart Contracts with no down-time on interacting with the front-end allowing users to set these “one-shot” safety nets so they can be sure that they are not going to be getting massive Impermanent Loss on the way down.
This is the first LP automation of its kind in DeFi and allows LP holders to have much more safety than usual as holding LPs is one the easiest ways to lose money in DeFi.
Next is the Remove Liquidity through exiting from Liquidity Mining Programs first Smart Order.
We will be looking at Pickle Farms for this example. We are currently working on adding more Farms to this type of Smart Order.
Say you have your Pickle/WETH staked in a Pickle Farm on the pickle.finance website and earning Pickle.
Normally if Pickle starts dropping you would have to rush to the website, unstake on the front-end, run back to uniswap and remove liquidity, and finally sell your Pickle. This is not only very risky but extremely inefficient as well.
This whole process is easily Automated through CyberFi, where you can also enable the “sell one of your assets” tab and in the case of a dump, you will have ETH right in your wallet.
Liquidity Mining carries a lot of risks so we are proud to present this solution that can easily save millions of dollars in the future.
Transaction Mining Program
Over the next few weeks, we will release more details on the Transaction Mining Program for the CyberFi platform, which will be used to boost participation and volume.
$CFi Utility
The release of the platform also brings in the Utility to the $CFi token. For V1 we opted out from a Fee to increase usage of the platform and will require users to hold 100 $CFi to use CyberFi.
We will be going back to the Fee model in V2. It will be much more versatile in features and usability that will allow us to gather significant Volume.
About CyberFi
CyberFi’s mission is to bring the DeFi 2.0 experience and add a new infrastructure layer through Automation. Users of our platform will experience zero-stress, automated DeFi trading, farming and yield generation, smaller fees, and tools for Impermanent Loss mitigation.
Website: https://cyberfi.tech/
Telegram: https://t.me/cyberfi_tech
Telegram ANN Channel: https://t.me/cyberfi
Twitter: https://twitter.com/cyberfi_tech
