The price of the SERSH token, the native cryptocurrency of the Serenity Shield decentralized storage platform, spiked by more than 50% from Thursday till today before retracing some of those gains. The sharp rally came after Serenity Shield announced a major partnership deal with global publishing house Contentra Technologies.
According to a series of tweets from the Serenity Shield official account, the company will store a total of 10 million gigabytes (GB) of Contentra’s digital data on the blockchain over the next three years. The first phase involves uploading 1 million GB immediately.
To pay for the storage fees associated with this initial 1 million GB, Contentra will purchase 1.2 million SERSH tokens from the market. In line with Serenity Shield’s tokenomics outlined in its whitepaper, 25% of those tokens (300,000 SERSH) will be burned, reducing the circulating supply and creating deflationary pressure.
Additionally, another 25% of the 1.2 million SERSH (300,000 tokens) will be allocated to Serenity Shield’s “Serenity Revenue Share” pool. This pool distributes rewards to users of the platform’s StrongBox service who hold SERSH tokens, incentivizing them to stake and support the network.
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Show more +The Contentra deal represents a major milestone for Serenity Shield’s decentralized data storage solution. As highlighted by the cryptocurrency news outlet AltcoinBuzz, the partnership showcases a real-world use case that could drive adoption of blockchain-based storage over traditional centralized providers.
Serenity Shield also teased that the Contentra partnership is just the beginning. The company hinted at an upcoming client announcement from a country in the Gulf Cooperation Council (GCC) region in the Middle East, which will lead to further token burns and revenue generation opportunities.
With major partnerships and token mechanics like burns and revenue sharing attracting attention, the SERSH token has seen significant upward price momentum. According to Serenity Shield, SERSH was trending above Bitcoin and the popular memecoin PEPE on leading cryptocurrency data platforms like CoinMarketCap in the wake of the recent news.
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