TechFlow news, CyberConnect has released an emergency proposal [CP-1], suggesting the following three steps to ensure liquidity balance of CYBER across Ethereum, Optimism, and BNB Chain networks.
1. First, the foundation has deployed CYBER-ETH, CYBER-BSC, and CYBER-OP bridges powered by LayerZero's ProxyOFT.
2. Second, unlocked CYBER from the Cyber DAO and its treasury will be used to provide liquidity for these bridges. To avoid excessive risk from any single bridge, we plan to initially maintain 25,000 CYBER-ETH, 25,000 CYBER-BSC, and 25,000 CYBER-OP in the bridges, with liquidity amounts dynamically adjusted over time. All unlocked CYBER in the treasury—7,000,000 CYBER-BSC and 3,888,000 CYBER-ETH—can be utilized to sustain bridge liquidity. Providing bridge liquidity does not affect the total supply of CYBER.
3. Third, when CYBER liquidity becomes imbalanced across chains, the foundation will need to burn and mint CYBER to restore balance within the treasury. For example, if CYBER-ETH is depleted internally while CYBER-BSC and CYBER-OP together hold 10,888,000 CYBER, the foundation will burn a portion of CYBER-BSC and CYBER-OP to mint an equivalent amount of CYBER-ETH.
The proposal currently has 61,000 CYBER votes in support, representing 99.99% of total votes. Improving cross-chain liquidity implies that price differences of CYBER across exchanges may gradually be arbitraged away.
The team explained that this proposal vote is treated as a one-time exception, and considering time sensitivity and urgency, it will not follow the standard 7-day DAO voting period policy; voting will conclude today at 16:19 PM.
