Why you should watch CyberDAO
- Why I watch CyberDAO
- What CyberDAO sets apart
- What you can expect
When I first put money in OlympusDAO in April ’21 a lot of my friends in crypto told me I am crazy. It’s a ponzi, they said. 7 month later, it has stood the test of time and nobody in their right mind would still question it. No wonder, that forks and clones are popping up daily.
Many degens are in it for the APY and the moment that drops, they will pull out their money and move it into the next one. It is OK, to do that, but that is not what crypto is about.
Along comes CyberDAO. It will live on the boba network, a L2 network for Ethereum. Nothing is known yet about the contracts, but that they will be based on the OlympusDAO contracts. Don’t stop reading yet, because the exciting thing is to come now.
Most OHM forks, simply copy the contracts into an EVM compatible network, build a community on discord and launch. Believe me, I’ve seen many of them. But crypto is about decentralization and OlympusDAO is not only about quadzillions of APY, but about the DAO. The DAO is decentralization.
!!!Most OHM forks build no DAO!!! Everything is controlled by a small team of devs in the background and some of them do not even seem to understand the inner workings of the contracts and the parameters.
Along comes CyberDAO. Right from the start, CyberDAO introduces factions. It’s all set in a cyberpunk narrative, which is cool in itself. All the naming is taken from the cyberpunk universe, you can get cyberdrugs in the discord and so on. It’s even set in the year 2077 #iykyk. While all of this is cool and fits the narrative, introducing the factions shows, that the DAO aspect is at the core of the project. This puts CyberDAO ahead of the majority of the reserve currency and protocol owned liquidity projects.
While the factions are described in cyberpunk language and sound like factions in a game (think metropolis-origins) or anime, they are true DeFi. If you understand the DeFi lingo and the game-theory behind the protocol owned liquidity, you understand what the factions are for and you immediately see why CyberDAO is outstanding.
A true crypto reserve currency must be in the hands of the DAO. Not some anonymous dev behind the scene, but the DAO needs to control the parameters, partnerships, treasury, community and every other aspect of the project. CyberDAO clearly intends to put the power back to where it belongs: People. As such, the story fits: The elite has left the planet. The traders of Nox City have to work together to become successful. This requires more than bonding and staking. This requires actively shaping the project by joining one of the factions and voting on decisions.
CyberDAO is what crypto projects are supposed to be.
Join the discord now: https://discord.gg/KCPmvVgv
Check out the website: https://cyberdao.finance/
Read up on the medium: https://cyberda0.medium.com/