"Dread Dragon" when destroyed in battle and sent to the graveyard can be used to search for one Level 3 or lower Dragon-Type monsters for your hand discard cost strategies.
Use "Relieve Monster" with Cyberdarks when attacked to return it to your hand to recharge its dragon equip ability and Special Summon a level 4 like "Armageddon Knight" in defense mode to prevent leaving your field open.
If you equip this card with a Dragunity monster, avoid choosing "Dragunity Pilum" for this card as it would give "Cyberdark Edge" the exact same effect as any other dragon would. "Pilum" is best suited for the other 2 material Cyberdarks because it would give them essentially 2 of the 3 effects. Equipping that monster to this card would actually cut the battle damage to a quarter.
The most powerful monster that can be equipped to "Cyberdark Edge" is "Hunter Dragon", which will start "Cyberdark Edge" with 2500 ATK.