Vilnius, Lithuania, Jan. 21, 2021 (GLOBE NEWSWIRE) -- For years, a DeFi (Decentralised Finance) revolution has been underway. It's the next critical branch of development in the cryptocurrency industry. But it hasn't happened without growing pains. In building new DeFi products, developers are uncovering significant deficiencies in the infrastructure of the crypto space.
One of those deficiencies is the dominance of big centralized exchanges (CEXs). They control much of the flow of worldwide crypto assets and wield it to stifle competition. And at the same, they've proven to be poor custodians of customer assets. They've suffered multiple hacks and insider threats, leading to losses in the billions of dollars.
But with their announcement of a platform beta release on December 18th, CyberFi means to end their dominance. They've built a groundbreaking layer 2 automation solution atop a best-in-class decentralized exchange (DEX). It's the first intelligent trading and automation (ITAP) platform that drastically improved trading and asset management experience within the DeFi space.
The core idea is to provide a viable alternative to CEXs with unprecedented control for users and a user-friendly management interface. More than that, though, CyberFi also includes the kind of complex trade automation abilities that traditional financial markets enjoy. From risk mitigation to cross-chain trade automation, CyberFi does it all.
In that way, CyberFi hopes to increase DeFi access among casual crypto enthusiasts as well as professional investors. It will also use its functionality to serve as a bridge between DeFi projects on alternative blockchains. And that ability is already leading to some significant project integrations.
First came a tie-up with TrustSwap, another fast-growing and successful DeFi project. And its founder, Jeff Kirdeikis, also came aboard as an advisor after seeing the promise in the project. And that coincided with the announcement of a partnership with crypto venture capital firm Magnus Capital. Soon after came another integration with Unilend, which is a well-known crypto money market platform. And that was only the beginning.
In the span of just under a month, CyberFi announced new partnerships with crypto notables DEXTools, Ferrum Network, and YFLink. And that flurry of activity has vaulted CyberFi into the upper echelon of the DEX market almost overnight. But they still weren't done.
CyberFi capped the year off by announcing the launch of its staking platform and its first of multiple CyberEra staking events. The first event is set to run for 40 days and offers platform users and investors the opportunity to earn rewards based on their locked-in CFi or CFi/ETH LP tokens. And as it's just the first iteration of the staking platform, opportunities for supporters to back the project will continue to multiply from here on out.
And despite the amount of progress CyberFi has made so far, they're still at the beginning of their journey. To begin 2021, they expect to roll out new staking and a beta platform with limit order, liquidity pool (LP) management and yield farming automation functionalities. And after that, they're planning for a Q3 release of their multichain toolset. With its release, the platform's full complement of features will be ready to support a full public platform launch soon after.
What's clear is that CyberFi has accomplished in mere months what other projects often fail to do in years. They've established a clear innovation path. They've made huge strides to deliver on their vision. They're even rallied multiple crypto heavyweights to their side. All in all, it's an impressive beginning to what should turn into an industry-disrupting new trading system.
And all of it is in service to crypto holders and DeFi users. They're the real beneficiaries of what CyberFi's working so hard to create. And when they're ready, trading and managing assets user experience in DeFi will be forever changed for the better.
CyberFi is the world's first and only intelligent trading and automation platform in the DeFi space. It unites complex automation functionality with a trustworthy decentralized exchange and cross-chain tools to unleash the true potential of DeFi. With it, users can access and profit from the DeFi revolution through our network of partnerships and integrations. And they can do it while executing a robust risk management strategy that guards their principal and profits at all times. CyberFi is the innovative and disruptive force DeFi has been waiting for.
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