The Return of Ethereum ICOs, starting with $CYPH
The ICO platform will start with the launch of the $CYPH token itself, taking place on 11th December.
A fixed-price raise at $1.38m mcap. No private investors or VCs, putting the community first. All protocol value accrues to the token.
Built for ETH L1, owned and governed by its users.
| Event | Date & Time | Notes |
|---|---|---|
| ICO (Whitelist Only) | 11 Dec, 4:00 PM UTC | Access for whitelisted users only |
| ICO Public Round | 12 Dec, 4:00 PM UTC | Opens if any allocation remains |
| ICO Ends | Sunday (or when cap is hit) | Whichever comes first |
| Token Seeding | 16 Dec | ICO participants can claim shortly after |
| TGE Features Live | From TGE | Token staking, oCYPH redemptions, all features live |
Ethereum Capital Markets
We believe that markets should be built on the same values that define Etheruem itself. Decentralized, permissionless, censorship-resistant.
This is why we've built Cypher: a community-owned platform to raise, launch, and trade.
First, we build the liquidity infrastructure that's optimized for Layer 1 and ensures value flows back into the ecosystem.
This is now live, with the Genesis Pools hitting over $5m in liquidity and $160m in volume traded.
Next, is capital formation. It's imperative that Ethereum L1 has a platform that allows builders to raise and launch in a way that is entirely aligned with the values of the chain.
To achieve this, Cypher must be owned by its users.
The ICO platform will start with the raise for the $CYPH token itself, going live 10th December.
$CYPH ICO
Cypher has no private investors and will distribute +70% of its supply to the community. The protocol will be owned and governed by its users.
Whitelist round starts Thursday 11th December.
Public round starts Friday 12th December, ending on Sunday 14th December.
Liquidity is seeded and CYPH begins trading on Tuesday 16th December. Sale participants will be able to claim once the token is live.
ICO TERMS
- Fixed-price at a circulating market cap of $1.38m, $15m FDV.
- A maximum raise of $1.5m in ETH.
- The first 24hrs are for whitelisted users only. Whitelist allocations are from earning points in the Genesis Pools. Snapshot for whitelist will be taken on the 8th Dec.
- From launch, protocol revenues are used to buy-back $CYPH from the market and then distributed to locked xCYPH stakers. This ensures value accrues directly to the token, and more specifically to the long-term holders.
- 2/3 of the sale tokens are liquid on TGE. 1/3 are in xCYPH.
The CYPH token is designed to accrue value, reward long-term holders, create incentives to reduce circulating supply, and align the interests of farmers and protocol growth.
Understanding CYPH tokenomics
CYPH introduces novel tokenomics to achieve its goals.
Whilst low-float tokens are typically based on predatory supply unlocks, CYPH is built different.
The circulating supply of CYPH starts low because the only liquid tokens on launch will be from the public sale.
All incentive tokens are distributed in oCYPH.
Supply circulating on TGE:
- 10% of the supply in the ICO (33% is locked in xCYPH)
- 3% in protocol-owned-liquidity (seeding the initial CYPH LP)
In total, 9.5% of supply is circulating on launch
CYPH has a total supply of 1 billion, with the ICO priced at $0.015 per token.
The Genesis Pools airdrop will take place in the first week of January 2026.
Following this, the emissions schedule remains conservative and in locked/option tokens.
Liquid circulating supply will remain low, even without taking into account the demand for users converting to xCYPH to earn yields.
Revenue flows:
Protocol revenues from all products (AMM, ICO platform, launchpad) will be used to buy $CYPH from the market which is then distributed as yield to xCYPH stakers.
This creates a clear flywheel where growth of the protocol translates directly to token value accrual and incentives for long-term holders.
Incentives rewards are distributed as oCYPH tokens.
oCYPH can be converted to locked xCYPH, or it can be made liquid by paying a fee in ETH.
This fee is then used to buy CYPH on the market and distribute it to xCYPH stakers.
Future of Ethereum Capital Markets
The $CYPH ICO will demonstrate the value of launching in a way that is entirely aligned with its users and ecoystem.
The platform will start with the CYPH token, and in the coming weeks and months we will be hosting several other large Ethereum projects.
In addition to accruing real value from the protocol, the CYPH token will play a key role in ensuring fair and community-first ICOs in the future.
Cypher is designed to support and accelerate Ethereum native builders, the journey starts now.
Cypher is committed to giving everyone the same opportunity, that’s why no money has been raised privately. Several strategic partners and builders have been given whitelist allocation in the ICO. Most projects use this as an opportunity to give advantages privately, but for Cypher everyone has to participate in the ICO. These angels are aligned to support and add value to the protocol in many ways.