Solana News spoke to the protocol exclusively, learning of its ambition to become a base for pre-launch price discovery.
Cypher Making Strides
The project has attracted significant venture capital firms like Sino Global, in a funding round that saw Cypher raise $2.1 million.
Cypher intends to attract prospective crypto investors by becoming an outlet for price discovery. Investors will have the opportunity to buy and sell contracts that indicate the prospective token launch price. This will take place on the Solana chain, and the team explained that it was an easy choice for their project.
“Solana’s efficiency and scalability, the fact it is the fastest and one of the cheapest chains means we did look elsewhere. We are big fans of the on-chain order book.” Barrett, a key member of Cypher’s core contributing team explained, “The community involved with Solana, some of the most exciting builders and innovators certainly impacted our decision.”
There is a lot of excitement around what Cypher is looking to offer and while pre-launch markets could indeed prove to be very enticing, how will the project address liquidity worries?
“Liquidity is really important to what we do. Our investors are already market makers,” Barrett, one of Cypher’s core contributors revealed, going on to explain that the project retains several avenues for TVL.
The notable names they’ve already attracted concerning investment indeed indicate liquidity should be no issue, but what the team is looking to do is undoubtedly something to consider.
Education Key for General Investor
Cypher understands that although its traditional futures markets will be accessible to non-crypto users, education is a huge factor in attracting more users.
Cypher’s core developers revealed an onus in providing necessary educational tools for prospective crypto enthusiasts. Educational offerings that were previously behind exclusive paywalls elsewhere will be made available at no cost.
Of course, people already in crypto are equally crucial to Cypher. The team spoke of its hope to incentivize minting and offer fractional ownership of NFTs, which the project believes exemplifies their ambition to keep in touch with crypto veterans, even while bringing in prospective users by offering traditional futures markets.
There is certainly a lot of excitement around this project, and BSC News will be keeping a close eye on how it progresses.
What is Cypher?
Cypher is a decentralized synthetic asset protocol on the Solana blockchain that facilitates price and demand discovery in nascent markets. Initially, users will be able to mint and trade synthetic assets representing the valuation of late-stage private companies before they go public.
Where to Find Cypher:
Source : solana.news
