If you are interested in checking out the latest projects in the Ethereum blockchain, we’ve got one you might like. This one might be something that could ‘disrupt’ the entire ballgame. The CyOP Protocol may be one of the most enticing projects to date.
We’ll discuss the project in more detail along with how it all works. We’ll also dive into the token that’s part of it all. It’s something that a potential investor should take interest in if they are looking to get an excellent ROI out of the deal.
In the world of cryptocurrency and the blockchain, it’s always evolving and some of the most interesting projects deserve a good amount of attention. Is the CyOP Protocol worth looking at? Let’s dive right in and talk more about it.
What Is CyOP Protocol?
CyOP Protocol is a decentralized autonomous organization (DAO) based in the Ethereum blockchain. It uses funds to purchase tokens from investors and eventually burn them forever. Its intent is to create some kind of disruption throughout the cryptosphere. At the same time, it’s considered to provide a potential return of ‘unbelievable amounts’.
What Is CyOP Protocol Token?
The CyOp Protocol Token is the cryptocurrency created by the project. The tokens can be used as a vote for any token that is on the Ethereum blockchain to be ‘disrupted’. These tokens will be locked up for an untold period of time.
During this ‘lock’, a deflationary effect will occur. After there is enough energy that is being built up, CyOP Protocol will be executed. The holder of a winning token will be able to experience a buy order that uses 90 percent of the project’s funds.
The tokens that were bought will soon go through a ‘void’ and are burned forever. The holder that voted for the winning token will experience a certain glitch that favors them. As a result, they are awarded 10 percent of the project fund.
By the sounds of this, it seems like a project that may change the ballgame in the cryptospace. It’s no wonder why they call it ‘disruptive’. Will you be the lucky person that votes with their token and runs away with a good amount of money?
This may sound like something that may entice investors. As of the time of this write up, the price of the CyOP Protocol token is low. Which means with a small amount of cash, you could hold a very large quantity.
How CyOP Protocol Works?
The CyOP Protocol project has a fund that will be filled by each translation that takes place on their platform. Ten percent of the sale will be taken as a tax with every token that is bought or sold. The tax splits it with seven percent going to the project fund and the remaining three percent towards their marketing.
As of 2022, the fun has since grown to well over 100 ETH. It has the potential of growing its fund to well over $1 million. The purchasing power of the project will be used during each voting period.
In other words, the members of the DAO will choose a crypto project they plan on ‘attacking’. They will buy the target token with 80 percent of their fund and burn one half of what they bought immediately. The other half will be sold for Ethereum in the future.
Proceeds of the sale will go to those staking CyOP Protocol as part of a reward for holding onto the token. Ten percent of the fun will go into liquidity while another ten percent goes to one person staking CyOP Protocol tokens using a ‘matrix glitch’.
For example, if the fund were to reach $1 million prior to their impending attack, that one person will become $100,000 richer. This will occur each time CyOP Protocol conducts a disruption of a certain market. At this point, there has been no other crypto project in existence.
With crypto staking being something of a long-term goal for those making money, CyOP Protocol is doing its part to change the game. When a staker of a coin is earning money, they are earning a small percentage depending on the token.
With CyOP Protocol, giving one lucky person ten percent of its fund (albeit one of a six-figure windfall), will certainly make things a lot more interesting. Once again, if you are planning on investing in a token worth staking, you’d be hard-pressed to find something quite like this anywhere else.
You can purchase CyOP Protocol tokens today and an attack on a token of their choosing could occur tomorrow. The timing and uncertainty of it all can be quite exciting.
How to use CyOP Protocol?
The real question is: where can you get CyOP Protocol tokens? There may be some exchanges where you can snag your own. One place is CoinBase.
If you don’t have a Coinbase Wallet, you will need to download one. It is a mobile app that is separate from the Coinbase app itself. Speaking of which, you will need a Coinbase account in order to connect it to the wallet.
Once you download the Coinbase wallet and set it up, you will need to make plans to cover any Ethereum fees. The fees will fluctuate depending on how busy the network is. So they may be quite high on some days compared to others.
On the Coinbase app itself, you’ll want to purchase Ethereum tokens. After this, you will need to transfer them to your Coinbase wallet. From there, you can purchase CyOP Protocol tokens.
You can tap on the “Trade” tab where you can trade your Ethereum tokens with any token that is within their blockchain. You can add the amount of Ethereum that you can swap for CyOP Protocol tokens.
Once again, you’ll want to keep note of the Ethereum fees you will need to pay. It may be about the timing of it all. The purchasing process is about the same as if you were purchasing any other token on Coinbase wallet.
Just confirm the purchase, follow instructions, and you should be good to go. If you are new to trading cryptocurrency, Coinbase may be the best place to start (including the Coinbase Wallet app).
What Makes CyOP Protocol Special?
One of the things that makes this project special is the way it operates. It’s the first of its kind in the crypto space. Those who control the fund will utilize it in a way where they buy a target asset and then burn half of it almost immediately.
The model of how it works is revolutionary. It won’t be a surprise to see any copycat projects pop up at some point in the future. Another thing that makes it special is that 10 percent reward to one lucky stakeholder.
Imagine being able to wake up and notice a huge increase in your cryptocurrency balance. That’s because you held on to CyOP Protocol tokens and it seemed to be chosen at complete random. This can happen at any given time depending on how large the fund is.
Imagine the project having a fund of $10 million. You get awarded $1 million just for holding onto a winning token. That sounds impossible, if not unheard of. Whether the project fund could ever reach that amount of money or not, it can happen.
This is designed to disrupt the markets in a good way (instead of a bad way). This may seem a little out of the ordinary compared to what you’re seeing on the blockchain such as NFTs. Will we see any more market disruptions like this in the future?
Pros/Cons
Now that you have a deep understanding of the project, we’ll be taking a look at the CyOP Protocol pros and cons. It’s important to know what they are so you know what to expect whether you are holding onto the tokens or not.
First, let’s take a look at the pros:
Pros
- No other crypto project like it: As mentioned, this project and the concept behind it has never been done before. So it’s the first time such a model like buying (or attacking) a crypto within the Ethereum blockchain has been put to the test. It may set the stage for any rival projects to come along and create a copycat project.
- It’s price is way low right now: Currently, the price for CyOP Protocol tokens is at quite a low price. You can buy a large quantity with a small amount of money. So you could be holding on to hundreds of thousands, even millions. The more you own, the more you increase your chances of holding on to that winning token.
- It’s easy to purchase on Coinbase: Yes, you can purchase it on Coinbase using the Wallet app and not on the standalone itself. However, you still need to purchase Ethereum in order to convert it into CyOP Protocol tokens.
- Its concept makes it quite enticing: Think about it. The idea where you could hold onto enough tokens where you could be awarded 10 percent of their total fund is quite enticing. You might not be holding onto CyOP Protocol tokens now. But the potential of getting a six figure or even seven figure windfall in the future might want you to get in on the action now rather than later.
- It has plans for the future: CyOP Protocol has the intention of creating a platform known as the Metagrid. This will consist of innovations related to the Metaverse. This includes but is not limited to gamification, NFTs, and more.
Cons
- It’s a fairly new project: While it’s a new project, not too many people may put their trust into it yet. Some may even write it off as something that’s too good to be true. In any event, it may be a good idea to do your due diligence. The same goes for any other crypto project that you intend to invest your money in.
- You may not get that 10 percent reward: While the selection of a token holder will be at random, it may take time until you may be the lucky one that gets the 10 percent reward. However, you may be holding onto it for a long period of time. That period of time could be years so long as the project is still ongoing.
- The Ethereum Fees will be high: Yes, you will need to purchase Ethereum first in order to convert into CyOP Protocol tokens. However, you’ll need to keep an eye out for the Ethereum fees. If the network is busy, you can expect the fees to be higher. So you may want to check websites that keep track of the Gas fees. These don’t apply to just NFTs, this applies to anything else that you want to invest in the Ethereum blockchain.
Team, Investors and Partners
According to several sources, the team behind CyOP Protocol is anonymous. They include developers, marketers, and other crypto experts. So it’s hard to pinpoint who may be the mastermind behind it all.
That’s probably another reason why CyOP Protocol may be another enticing investment. On the downside though, no face behind the name may scare off investors. Possibly because they feel like it may be a scam project (which seems to run rampant in the crypto world).
So far, anonymity may be serving them well.
Final Thoughts
The CyOP Protocol project looks promising. Plus, the model being used has never been created prior to its existence. For this reason, it may be wise to consider doing more due diligence on projects like this before investing your money.
Investing does carry its amount of risks. However, the deeper you go into a project the more informed you can be. Thus, it will help you steer closer to a decision.
With the token currently at a low price, it seems like a good opportunity to buy. If you want to be rewarded just for staking CyOP Protocol tokens, have at it and see if you’re the lucky holder.
John S. Logan has been working with cryptocurrency for nearly as long as it has been available on the market. With a professional background in the finance industry, he believes that blockchain technology, cryptocurrency, and decentralized finance play an important role in the future of the world.
