Ethereum Layer 2 platform Cyber (CYBER) announced the opening of early access to Cyber Mainnet Staking.
Stakers of the CYBER token now have two choices–opt for early access to maximize rewards, available from May 22nd to June 3rd, or choose not to take any action and directly claim rewards on June 8th.
When Cyber Mainnet Staking launches on June 8th, 1 million CYBER staking rewards will be allocated to existing stakers, distributed in accordance with Season 1 staking points. The official start of Cyber Mainnet Staking will enable individuals to stake CYBER on the platform using EigenLayer‘s Actively Validated Services (AVS). Throughout the seven days of unlocking period, stakeholders will retain the flexibility to cancel stakes and withdraw funds instantly.
Cyber Mainnet Staking is an integral component of the project’s mainnet launch. It aims to promote the democratization of network governance, enabling individuals to engage actively in the procedures of decision-making.
In Cyber Mainnet Staking, CYBER tokens are staked to AVS operators responsible for running sequencers, verifiers, and CyberDB, thereby bolstering Cyber’s security measures. In exchange, it is anticipated that CYBER stakers will automatically receive a portion of the revenue generated from these services.
Between June 8th and September 8th, 500,000 CYBER rewards will be allocated to incentivize mainnet stakers. To provide sufficient rewards for CYBER stakers initially and ensure long-term viability, a total staking incentive of 5.5 million CYBER tokens has been meticulously planned for distribution over the course of the next six years.
Early Access to Cyber Mainnet Staking is now OPEN! Staking CYBER? You've got two options:1) Opt in for MORE rewards! 2) Do nothing & claim on June 8. This early access window only lasts until June 3!For details check our latest blog https://t.co/vidS8d4gJH
— Cyber (@BuildOnCyber) May 22, 2024
What Lies In The Essence Of Cyber?
Cyber stands out as the pioneering restaked Ethereum Layer 2 platform tailored for social interaction. Operating as the social layer for Web3 applications, Cyber represents a bridge for the upcoming influx of individuals intending to explore Web3, its tools, and financial liquidity throughout various Layer 2 ecosystems.
Recently, Cyber initiated launched its mainnet, extending an invitation to builders to transition and develop their applications on its platform. The project is preparing for the Social Summer campaign targeting developers in June.
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