The CIRUS token, emblematic of the Cirus Foundation ecosystem, has witnessed remarkable price dynamics in recent days. With a staggering 352.51% surge in the past month and a 101.35% spike in the last seven days, CIRUS is making waves in the cryptocurrency market.
These price movements reflect the significant developments within the Cirus ecosystem, drawing attention from investors and enthusiasts alike.
But why is the Cirus Foundation (CIRUS) token soaring? Here is a deep dive into the factors behind the monster CIRUS Bull Run.
Cirus Foundation token model overhaul
In a bold move to redefine its ecosystem and adapt to changing demands, Cirus Foundation, a pioneer in the Web3 space, recently announced a substantial overhaul of its token model to unlock the full potential of its native token, CIRUS.
Cirus Foundation empowers individuals by revolutionizing digital asset ownership. The foundation’s multi-chain wallet provides users with secure control over their earnings and cryptocurrencies, embodying the principles of Web3 and advocating for financial inclusion.
The CIRUS token is the backbone, facilitating remittance, bridging functions, rewarding users for network maintenance, and unlocking Web3 apps within Cirus Web3 Labs.
The recent revision of the token model includes reducing the total supply, reallocating remaining tokens, and shifting to a deflationary model.
The driving force behind these changes is the recognition of multiple revenue streams beyond data sales. Cirus Foundation aims to create a sustainable, user-centric model that resonates with the principles of Web3. Users will witness a transition from the current Buy-and-Remit model to a Remit-Buy-Burn structure for Data Rewards, reflecting a purer Web3 mining approach where users share data to earn tokens
Strategic partnership with Shift Markets
Besides revamping its tokenomics, Cirus Foundation is also responding to the evolving landscape post-FTX implosion. It has strategically partnered with Shift Markets to develop a non-custodial wallet tailored for integration with centralized exchanges.
Shift Markets, a Crypto-as-a-Service leader, brings its expertise to facilitate this development, tapping into a vast market with 40 million customers across 59+ crypto exchanges. This partnership aims to provide users with a secure, user-controlled wallet, aligning with the ethos of “not your keys, not your coins.”
The impact of this collaboration on the CIRUS token is evident in its recent price movements, reflecting the crypto community’s keen interest in the unfolding developments.
The planned beta testing of the Web3 wallet in Q1 2024 marks a crucial milestone in the realization of a user-operated hybrid data/blockchain system, underscoring Cirus Foundation’s commitment to innovation and the Web3 philosophy.
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