Cirus announced recently the creation of the Cirus Staking & Contribution Pool (NASDAQ). This pool will be made available only to Cirus platform users and will become live in conjunction with the Genesis stage launch of Cirus Platform’s Cirus Platform. As part of Cirus’s commitment to a network and ecosystem-first approach, the Staking and Contribution pool will allow users to contribute to the ecosystem while earning rewards.

Traditional Proof of Stake or Cirus Staking Rewards

Traditional Proof of Stake (PoS) required token holders to lock up (or ‘stake’) a certain number of tokens in a smart contract to secure the network. Token holders would have an interest and no incentive to compromise the network’s integrity. The user will become part of the network infrastructure through staking, and they would be subject to disciplinary action.

Since then, this form of PoS is a way for users to earn rewards (usually tokens), by locking up supply. This has many benefits such as increasing stability in an ecosystem.

Cirus has committed to network-first developments and takes a middle-of the-road approach. Cirus will use part of staked funds to build out the network’s infrastructure. The protocol layer and the network layer will be able to generate revenue, which in turn will provide resilience and performance for the applications built upon it. This approach, reminiscent of the Fat Protocol Thesis, is a bet that the lion’s share of value is captured by the protocol layer, not the application layer, which is what can be seen with traditional development such as web-based application development.

This distinction is crucial. The application is the only one that can benefit from and provide these functions and benefits when they are added to the ecosystem’s application layer. Although there are significant network effects when value is integrated into a system on the protocol level of a network, it can have profound consequences. Each new app built on the platform can benefit from the protocol-level improvements that are made to the system. This allows the system to evolve slowly. You can use the system to iteratively design and add features like security enhancements and processing innovations.

This team gives the community an opportunity to make a difference by redirecting a certain percentage of staked funding to a network infrastructure fund. It also bolsters the infrastructure that the Cirus platform, new applications and other services are built.

The infrastructure fund was originally intended to be used for the creation and maintenance of ETH (L2) and MATIC (Matric) nodes.

Staked money and reward funds will all be kept in public viewable and secure multi-signature wallets. The Cirus Foundation will report on any use regularly.

Future Applications and Considerations

These are some future plans for the fund:

• Governance capabilities are tied to network upgrades and/or funds usage. These may include permanent locking or token burning.
• Platform participants can form a reward pool.
• For the purpose of creating a Cirus stablecoin, a treasury must be formed.
• Stakeholder programs are created to speed device deployment.

According to the Cirus project roadmap the Staking and Contribution pools will be only available via the network when it is launched. However, the team’s goal is to build integrations and interoperability with Matic as well. However, it is important to note that the pool is another important indicator of Cirus’s commitment to building network and ecosystem value. The Cirus IDO followed a similar strategy, with staking opening on one of Cirus’ IDO partner platforms, MantraDAO (Zendit), as well as Dfyn, a premier Layer-2 partner. This shows the team’s commitment to the ecosystem and the new staking contract demonstrates a consistent commitment to this network-first approach.

The pool’s details will change as Genesis nears its launch. Stay tuned for more updates from the developers. You can also sign up for the Genesis waitlist by clicking this link.

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