Automation is the main catalyst for exponential growth in economies for the past two hundred years. DeFi is one of the latest advancements of financial innovation. It has grown to a market of over $12 billion in a concise amount of time. However, due to the rapid growth, it lacks critical automation elements that would streamline the processes and simplify the user experience.
The complexities and barriers of entry have to be eliminated, to keep the steady curve of evolution and growth of the DeFi space! CyberFi is set to solve the most inhibiting and challenging problems when it comes to trade execution, risk mitigation, and interoperability on decentralized exchanges.
CyberFi is a non-custodial, intelligent automation platform for DeFi apps that combines a decentralized trading platform, an intelligent automation system for complex DeFi strategies, and a cross-chain layer for multi-chain DeFi automation. We are providing simple UI and UX for complex DeFi events, so that the retail users, as well as institutional traders, can have a smooth experience.
Trading, at its core, is a small piece of the pie. The true heart of DeFi is much more. There is a vastly wide world of opportunities for automation. For example, combine lending strategies with Liquidity Pool (LP) Tokens and earn fees, or combine staking and yield farming add a risk-mitigation
Nevertheless, we want to maintain our focus on three key areas:
- Trading – Automated limit orders, trading actions based on price triggers, Etc.
- Automation of Complex Events – Automated LP token processes: schedule removal/supply of LP, buy/sell LP tokens, all based on parameters set by the user.
- Cross-chain Events – automated cross-chain events such as multi-chain bridge interactions.
Similar to crypto space in the first stages of development, the majority of funds locked in DeFi and yield farming are primarily from retail users. Even though there is over $12 billion of locked liquidity in DeFi protocols, it is not such a significant amount in the grand scheme of things. Due to high risk and lack of tools that would mitigate these risks, institutional players are hesitant to engage in such endeavours. We believe that if there would be such tools developed, it could open the floodgate of institutional funds coming into space. Therefore, the CyberFi team has decided to prioritize the development of automation tools to improve this specific area.
We have developed a self-funded Alpha version of the CyberFi platform, which is ready to use. User can perform the following functions:
1. LP Token Unstake from Liquidity Pool or Yield Farm
2. Remove Liquidity
3. Sell one of the tokens to the other (e.g. Token X sell for ETH)
This automation scenario is launched through a Price Trigger, e.g. “when Token X price falls below 10$, then execute a predefined automation scenario.” To execute such events in current infrastructure, traders have to perform every single step manually. Alongside that, they have to monitor the charts on Uniswap 24/7 to ensure they don’t miss the point if the price of a highly volatile asset will plummet, or else they will lose all the profits and LP tokens will have zero value left. CyberFi eliminates the complexity of all the actions that are performed in this process.
Yield farming has been one of the main catalysts for the exponential growth of the space. It can capture unprecedented returns, but on the other hand, it carries significant risks. Yield farming projects incentivize users with high APYs to stake into LPs with their native tokens, which creates an inflation spiral and an inevitable price reduction. The trader is bound in a chain of events related to manual entry or exit, approving or signing the transaction.
Every single transaction involves a GAS fee and that can become a frustrating and costly process. CyberFI will utilize developed Price Triggers to support users with complex data calculations to set up the correct Automatic Orders to mitigate risks of Divergence / Impermanent Loss. Pre-defined parameters and automation of execution will be vital for participating in High-risk Farming. This tool is a game-changer not only in the yield farming game. It is fundamentally changing the DeFi user experience, as we know it today.
Due to the deficit of such solutions, the interest and support of the community have been tremendous so far. The first private token allocation round was closed within just two hours, and we have applications coming in every day for the second private token allocation event that we are conducting on 11th November. Seeing this level of interest gives us a clear indication that we are on the right track, and that motivates us to build automation tools that will help this space to evolve.
We want to maintain the peace of mind of those who contributed to the early development of the platform. Therefore we have implemented team token smart lock, provided by TrustSwap, a full-service DeFi platform offering a team lock in their tokens that are vested over a period of time, allowing for simplicity and immutable transactions.
In the next few years, we aim to fully realize the potential we see in automation tools developed by CyberFi. Our goal is to become the “to-go” platform in DeFi for institutional as well as retail users, creating tools that will allow us to integrate the latest innovations to the traditional system.