Description: CyberDAO is building a community-owned decentralized financial infrastructure on Fantom. CyberDAO is an interactive, NFT-based decentralized reserve currency project built by a core team of experienced DeFi developers and users. Our goal is to help expand the Boba Network ecosystem with much-needed DeFi infrastructure while pioneering with new bond types, design choices and novelty gamification mechanisms, making CyberDAO a metaverse-based reserve currency project.
CyberDAO marks the first decentralized reserve currency protocol available on the BOBA L2 based on the CYBER token. Each CYBER token will be backed by a basket of assets (e.g., DAI, FRAX, ETH) in the CyberDAO treasury, giving it an intrinsic value which it cannot fall below. CyberDAO also introduces economic and game-theory dynamics into the market through staking and bonding.
CyberDAO rewards stakers with compounding interest, increasing their token holdings over time. CYBER is minted and distributed as a reward. We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to get DeFi to detach further from the world of traditional finance. More CYBER staked reduces the apy but pushes the cyber price higher.
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