MSQ Cycle Burn Price

MSQ Cycle Burn (BURN) is a cryptocurrency launched in 2024. It operates as a memecoin-derived token distribution protocol on the Internet Computer, categorized within the Internet Computer Ecosystem, the memecoin sector, and decentralized physical infrastructure networks (DePIN).

The protocol’s primary function is to facilitate fair, permissionless token distributions. Initially, users burned Internet Computer (ICP) tokens to mine BURN from an on-chain pool. The mechanism then absorbed proof of personhood and on-chain randomness to distribute mined BURN widely, disregarding the size of an individual’s financial commitment. This design directly counteracts sybil attacks and capital concentration in token launches.

The asset operates on the Internet Computer network. Its logic executes entirely through canister smart contracts on that chain, which reaches consensus via a threshold relay mechanism. The project’s token contract resides at the canister identifier egjwt-lqaaa-aaaak-qi2aa-cai.

Technically, the token leverages on-chain randomness generated by the Internet Computer’s t-distributed random beacon. It integrates proof of personhood systems to verify unique human identities during airdrop events. The canister code, auditable on GitHub under the fort-major repository, implements a burn-to-mine mechanic where ICP tokens are irreversibly consumed to mint new BURN.

The project emerged from the MSQ wallet team in September 2024. It began as a parodic memecoin but pivoted rapidly after the burn mechanism’s utility became evident. Early adoption orbited the novelty of destroying ICP in exchange for freshly minted BURN. The development path then embedded decentralized identity verification, refashioning the platform into what the team calls an “airdrop machine” designed for third-party projects.

The overarching goal is to decouple token distribution from capital expenditure. Influence over airdrop allocations should correlate with human uniqueness, not wallet size. By routing project token launches through a curated pool of verified identities, the protocol aims to standardize a credibly neutral distribution layer across the Internet Computer ecosystem.

Mechanically, the BURN token acts as the reward unit for the ICP burning operation. New BURN enters circulation exclusively when a participant submits ICP to the canister, which registers the destruction and credits the miner proportionally. No pre-mine, third-party allocation, or governance claim is embedded in the token; it is purely a claim on the pool’s output.

Miners receive BURN by executing the burn transaction, securing a fraction of the total supply. That balance places the holder in the distribution registry. Subsequent projects deploying their airdrops via the MSQ Cycle Burn infrastructure will use that registry to target real, unique individuals, meaning BURN possession directly entitles a wallet to future token claims from external partners.

The token has a total supply of 10,200,000 BURN. Currently, all 10,200,000 tokens circulate in the market. No emission schedule, halving, or burn mechanism exists beyond the initial distribution. With a market capitalization of $9,019.29, MSQ Cycle Burn ranks #10,038 among all cryptocurrencies.