Should we welcome the fork of Bitshares---Cybex?

in beyondbitcoin •  2 years ago 

A fork of Bitshares by the most famous Bitshares evangelist is one of the most famous ICO platforms in the whole world, and it has helped a lot of blockchain projects get fund through ICO, including TENX, STATUS, EOS, OMISEGO,YOYOW, etc.

The founder of and, James Gong, has just announced that they are initiating a new decentralized exchange project founded by themselves---Cybex, and will start an ICO late July. James Gong is one of the earliest Bitshares evangelists who introduced bitshares(called protoshares at that time) into China.

According to the introduction on , cybex is also a Graphene based decentralized exchange, it will aim to liquidize the tokens from all the ICO projects on icoage, more specifically, it is a forked version of Bitshares DEX. It will have all features of Bitshares---smartcoin, UIA, witness, commitee, etc.. Also, it is said that they will probably move to EOS after the launch of EOS.

Should we welcome Cybex?

It's kind of ironical that the earliest Bitshares evangelist abandoned bitshares but to initiate a brand new DEX. People might think that a fork of Bitshares will hurt Bitshares itself and wonder why he doesn't use Bitshares.
James explained that due to that Bitshares have been highly decentralized, it's very difficult to push any change on Bitshares. For example, the bottom layer bitshares wallet haven't been updated for more than one year. Decentralization means low efficiency---similar case as to Bitcoin. Therefore, they would rather initiate a brand new one, and maintain it in the form of half-decentralization.

Personally, I think we should welcome Cyber, even there will be competition between BTS DEX and Cybex.

Firstly, it has enriched the ecosystem of Bitshares/Graphene, and have over 300,000 registered customers, all of them will know Bitshares via Cybex.

Secondly, Cybex is half decentralized, therefore it will have a more organized group for no matter development or marketing. Their experiments ahead will help Bitshares to evolve somehow, anyway, it is easier for a decentralized organization to turn over, compared with a decentralized organization. If Cybex make a big success, Bitshares will never be forgot, just like the fork of Bitcoin will only add more credit to Bitcoin. However, if Cybex fails, it will prove the mode of Bitshares is more right.

I think Bitshares is like Linux, decentralized but not the best, and Cybex or other forks are like ChromeOS or Android, made by centralized corps and have better features.


I don't take part in Cybex in any way, and my comments only represent myself.


“为什么linux桌面端这么久了还这么难用,而基于linux改出来的ChromeOS 和android却好用的很,就是因为去中心化的东西虽然好,然不一定是最好的。”
“BTS在走BTC的老路,没人主导,没人运营,但价值越来越被认可。去中心化的东西本来就是无政府主义者喜欢的东西。不需要运营就是最大的特点。所以偏运营的cybex其实对BTS只有好处,没有坏处,因为ICOAGE上的代币本来也不在BTS DEX上交易”

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I want it to be clear that I am not involved in this project in any way.

Thanks for your clarification. If you browse their website, you will find your image is listed in the adviser team.

  ·  2 years ago Reveal Comment

did you read the comment? Dan is actually listed as an adviser on their website , it's great to do a clarification.

Sort of decentralised exchanges are on the rise. Whoever wins the race; more liquidity in the market place is helpful. Perhaps this move will force BitShares to innovate more and try to stay on top.

The interesting point here is that they recognise that that we must not be paralyzed by decentralization. Innovation and collaboration still needs to happen to get things done or we will be overtaken by slicker solutions

what are we racing to? bts dex been over 4000 btc daily volume and only one with margin still. why even bother calling it a dex if it's not decentralized. decentralization isn't some gimmick, it's solution for security that prevents minority being able to censor/edit/manipulate blockchain. if it's not decentralized for security sake to make it easier for minority to update it however they like, might as well use a centralized exchange. centralized solutions posing as decentralized put people at risk, like when ethereum developers forked the chain with only 4% support literally to just give themselves money.

Maybe Bitshares is not perfect nor as efficient as centralized application , but is a real decentralized application, and it is the paradise of anarchists. So the fans of Bitshares and the fans of cybex don't overlap.

I don't care.
Bitshares is Bitshares!


Interesting Piece of work.
Followed and upvoted.
How can i get this kind'f amount on my post? As I'm new here so that's why asking.

Intresting race.


I think it's a great idea and it will probably bring more value to Bitshares and Graphene technology. It should be welcome and the bitshares community should support the initiative and work to integrate their tools in other graphene products like mobile wallet for token quick exchange. exchange.

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I can Follow You.
You can follow me.Thnx

I've never heard of Cybex. I'll have to check it out! So we will see the launch this July? Could you further explain how Cybex is half decentralized? Thanks for the post!

Because it will be run by the official team of cybex, and the tokens listed on cybex will be the tokens on So, if icoage is closed by some reason, cybex will die.

oh yea. that would be no good. :( Thanks for sharing this info.

After overcoming my initial distaste at the fact that they are forking BTS instead of working to improve it, I don't see why not. Any improvements they make that we decide are wanted in BitShares can probably be backported. It is kind of ridiculous that there has been a GUI for stealth transactions for so long, and yet it still is not deployed anywhere...

Should we welcome Cybex? NO!

interesting piece of work @jademont

good post
plise follow back

I see it has been 8 months since this post was written. I find it interesting, there is a big team behind Cybex, which lends credibility to the project. They have MVP up with 3 coins -6 pairings, and very light volume. The fact they put Dan's image on the site and claimed he was an advisor says a lot about the (lack of) credibility on the site. I just read the white paper. It is interesting project with a few new ideas. I will be watching to see what happens.

Hi Jademont, I am curious about recent HERO Campaign raised by Stan. Becoming realizing it's maybe the first time blockchain community opening a gate to the crowd mainstream, by which I mean in great chance it can work out for the people outside of the niche blockchain industry with BitShares' proven leading mature network and techniques. Even more with the BitShares network economy ecosystem backed HERO-BTS pair, BTS will have the ability to escape from the price collaboration in the small manipulated Bitcoin/Altcoin market pool. It will be seen a totally different situation other than those pump&dump things in next couple of moths or so. This maybe a sign of next stage for the whole industry.
Please let me know if I am in a appropriate knowledge level on this HERO-Bitshares thing and the progress of the industry. With your insights your comments are much appreciated. Thank you for the time.

Nice post. Interesting to see I'm not the only one that is thinking about this. Only invest in ICOs if you did the best possible research you can do and really believe in the future of the project. Wetter you're a short- or long term holder you should know what you put your money in. I found this amazing platform: I'm using this site that gives in depth reports on every tradable cryto in the market. See: To check Bitshares Investment research.

i dont understand who is bitshares