Overview of the Cykura project (CYS)

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2022-07-27 19:08:52

In the Solana ecosystem there is no shortage of representatives in the AMM array, but Cykura is a pretty prominent name. This article CHK will help you know about Cykura, what the CYS token is and what the project is different from other AMMs.

Overview of Cykura

What is Cykura?

Cykura was formerly known as Cyclos. The project changed its name at the beginning of March 2022 because according to the development team, they have entered the development phase of the V2.

Cykura is a decentralized AMM belonging to the Solana ecosystem that helps users to trade assets quickly with cheap transaction fees. At the same time, Cykura also allows liquidity providers to choose the price range their liquidity is providing. This is a “concentrated liquidity” mechanism because assets are manually placed at User-selected, rather than automatic (and inefficient) price ranges are dispersed along a price curve from 0 to infinity.

The special feature of the project Cykura

Unlike other AMMs that only focus on developing according to the basic AMM model similar to Uniswap V2, Cykura has begun to adapt and develop to make the first difference on Solana’s ecosystem by applying the feature. centralized liquidity was first developed and used by Uniswap V3.

Concentrated Liquidity – Centralized liquidity allows users to create a price range for which they are willing to create liquidity, in order to protect liquidity providers from excessive slippage in the face of high volume.

Besides, Cykura also allows users to provide liquidity with only 1 token to facilitate users when providing liquidity.

Data Dashboard of Cykura

Cykura also developed a Data dashboard to give users an overview of assets being traded on Cykura. Thanks to this data dashboard, users can know the trading volume, TVL volatility of the whole Dapp or each trading pair available on Cykura.

Detailed information about CYS . token

Specifications of the CYS . token

  • Token Name: Cykura.
  • Ticker: CYS.
  • Blockchain: Solana.
  • Token Standard: SPL.
  • Contract: BRLsMczKuaR5w9vSubF4j8HwEGGprVAyyVgS4EX7DKEg
  • Token Type: Utility, Governance
  • Total Supply: 100,000,000 CYS
  • Circulating Supply: Updating…

Allocate CYS . tokens

Allocate CYS . tokens
Allocate CYS . tokens
  • Liquidity bonus: 35%
  • Ecosystem: 20%
  • Team & Advisors: 20%
  • Token Sale: 11.4%
    • Seed Sale: 6.2%
    • Private Sale: 4.2%
    • Public Sale: 1%
  • Marketing: 5%
  • First liquidity: 5%
  • Serum Staking: 3.6%

CYS . token unlocking schedule

Updating …

Uses of CYS token

Users holding CYS tokens will get:

  • Reduced transaction fees based on the amount of CYS holding.
  • Project management.
  • Get transaction fees.

In addition, a portion of the transaction fees will be used to buy CYS on the market and burn, as well as CYS will be used as Liquidity Incentives.

Where to buy, sell and store CYS . tokens

You can trade CYS tokens on the Cykura DEX itself or other Solana Dex exchanges such as Raydium and Serum.

In addition, you can buy CYS on CEX exchanges such as: MEXC and Gate.io.

To store CYS tokens, you need to use wallets belonging to the Solana blockchain ecosystem such as: Phantom, Sollet, Slope to store CYS tokens.

Cykura project development roadmap

Cykura's Development Roadmap
Cykura’s Development Roadmap

January 2022

  • Launch Devnet and Open Source
  • Bug bounty program
  • Mainnet Pools go live

Q1 2022

  • Developer Grant Program for New Products and Features
  • Launch Protocol Administration
  • Activate liquidity incentives

Q2 and beyond

  • Added new AMM strategies
  • Launch cross-chain

Project development team

The featured project team includes Daniel, a member of Binance Research since 2019, bringing many high-quality projects to the community through Binance Launchpad or direct listing.

There is also Shardul, a multi-award winner in Hackathons, notably ETH-Denver 2021 (winner for Chainlink), Golem factory (first prize), and NFT Hack 2021 for Near Protocol (first prize).

Investors and project development partners

Cykura received $1M from investors: CMS, Hashkey, Solana Capital, Huobi Ventures, CHK Ventures, MXC, Gate.io, Illusionist Group, Skyvision Capital, and Petrock Capital.

Forecast about Cykura in the near future, should I invest in CYS tokens?

As for the centralized liquidity operating model, Cykura is the first project to develop but not the last and Orca, Serum is one of the successful projects to develop further in this model. Not only that, Cykura’s money from raising capital is not too competitive compared to the rest of the competitors, so it is very difficult for the project to capture Solana’s TVL market share for development when most users prefer to use large reputable exchanges and have been established from the beginning.

Through this article, you have somewhat grasped the basic information about the project to make your own investment decisions. CHK is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.

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