2014: CyberFM the app was first released in App Store and Playstore, streaming its own radio stations and partner networks.
2016: CYFM the token, was introduced to rewards listeners and provided those who unfamiliar with crypto, an entry to earn and trade the token. This was first released on the Ethereum network.
Late 2020: CYFM officially announced being a multi chain token, with plans to making it cross-chain.
February 2021: CYFM TRC20 was introduced. This was a move into DeFi and provided listeners the option to participate in DeFI and yield farming if they opted to earn the token on Tron network.
April 2021: CYFM BEP20 was introduced, giving listeners the option to choose to earn CYFM on either Ethereum, Tron or BSC network.
This move to becoming multichain is also due to the rising cost of gas fees on the Ethereum network.
July 26 2021: ERC20 Burn Rate Adjustment
As of July 26, a community poll was held in the Telegram group for the Burn rate to be adjusted. Majority voted 20% and this took effect immediately to reduce erc20 supply.
September 2021: ERC20 Migration to Polygon Chain
As of September 19, CyberFM announced migration to Polygon Chain. Testing is currently live & migration strategy is in progress. This is a move away from the high gas fees on Ethereum network.
November 2021: CYFM on Fantom Network
• ERC20 will crosschain Ethereum + Polygon. As the OG token, this will remain the Legacy (DAO)
• Tron, BSC and Fantom are the DeFI farming chains and remain separate and independent from one another
Current Goal towards Cross-chain & Bridge
• Grow liquidity on bep20 and trc20
• Reduce erc20 supply and bring up value of CYFM erc20
Note: The CYFM token also has a secondary function to mint the MFTU token (this is a token paid to MFTU artists).
Each time CYFM is moved on the blockchain, there is a burn rate imposed on the transaction amount. An equal amount of MFTU is minted with each CYFM burn.