將 Coinbase Wrapped Staked ETH CBETH 轉換為 The Everlasting Parachain ELP

Coinbase Wrapped Staked ETH (“cbETH”) is a utility token that represents ETH staked through Coinbase. Coinbase customers can wrap their locked staked ETH to receive cbETH, which is an asset that can be traded, moved on-chain, and used in DeFi and other dapps. cbETH is known as a liquid staking token because it allows holders to get the benefits of staking without lockups or unbonding periods.

The Cycan Network (CYN) is a decentralized cross-chain asset management platform that provides users with convenient asset management tools and diverse investment strategies to achieve value growth for their digital asset portfolios. Cycan is focused on the DeFi market and will be deployed on Kusama, BSC networks and other public chains. The Everlasting Parachain (ELP) is the canary network of the Cycan Network（Like KSM to DOT）and will be deployed on Kusama，BSC networks and other public chains. ELP is a decentralized cross-chain asset management platform with the same features as Cycan but for the NFT market. Everlasting Cash (ELC) is an anti-inflation algorithmic stablecoin on the Cycan network, which is minted by staking CYN, ELP or both. Due to its anti-inflation characteristics, ELC should be attractive in negative interest environments. Phenix test-net is Cycan's test network is being tested on Polkadot’s Rococo test network.