Cysic

Cysic Labs began around 2022 with a hardware thesis: ZK systems could not reach cheap, fast proving through cryptography alone. FPGA and ASIC work was paired with software, testnets and a marketplace intended to turn spare accelerators into purchasable proof capacity.

Phase I opened verifier participation in July 2024, followed by broader prover campaigns. Those tests rewarded participation and supplied operating data, but their node and proof totals remain project-reported metrics rather than an independent measure of decentralization.

The current mechanism starts with difficulty in cycles, a deadline and a maximum bid denominated in CYS per million cycles. Eligible provers reserve CYS and submit prices. The lowest bid sets an edge; winners are randomly selected from a pool beginning at the second-lowest bid, so no single cheapest machine automatically captures every task.

After execution, 20 verifiers are sampled from the task’s block hash. The round closes when at least 12 answer. Eighty percent of the task reward funds successful provers, with 7:3 or 7:2:1 randomized splits, and the responding verifiers divide the remaining 20%. Missing a deadline triggers reassignment and a documented slash initially using beta=1.

CYS is the native fee and compute asset of chain ID 4399. A provider reserves it to bid; users pay for proofs; contributors receive it. A holder can convert CYS into non-transferable CGT and delegate that CGT to a validator. Undelegating CGT takes 21 days, and only CGT originally created from CYS can be converted back to CYS.

The Foundation assigns governance to CGT: proposals on emissions, marketplace rules, treasury, proof upgrades and validator policy. Current validator instructions require 1,000,000 CGT and submission of an exit IP to the Cysic team for whitelisting. That admission step means the operational validator path is presently narrower than the broad language of holder-elected nodes.

The declared supply is 1,000,000,000 CYS. Ecosystem incentives receive 40.19%, investors 23.62%, contributors 12.11%, the Foundation treasury 8%, and community incentives plus liquidity 16.08%. These percentages sum to the whole supply but do not reveal every recipient wallet.

Investors have a 12-month cliff and 12-month linear release; contributors a 12-month cliff then 36 months; the Foundation a 12-month cliff then 24 months. Locked balances cannot be staked. Ecosystem distribution is described as dynamic, so future circulation depends on grants, bounties, mining, staking and governance execution.

Native CYS belongs to the Cysic L1. The official bridge links it to 0x0C69199C1562233640e0Db5Ce2c399A88eB507C7 on BNB Smart Chain and 0x19e8d59ff3D7A31289e0Dc04Db48d43b02c7ffa6 on Base. Bridge validators lock or burn on the source side and mint or unlock on the destination.

Verified Base code is a direct token contract with a BRIDGE_ROLE that can mint and burnFromAddress, while the owner can pause transfers and blacklist addresses; role admins and ownership can also change. That is bridge custody and compliance power, not a native-chain holder vote. The airdrop terms identify the Foundation as a Cayman exempted foundation company and deny a contractual or fiduciary relationship arising from that airdrop. Separately, the materials reviewed did not establish equity, revenue sharing, hardware ownership or guaranteed compute rights for CYS or CGT holders; that finding does not determine rights under other agreements or applicable law.