Why “Centric” can become a key player in the crypto industry with it’s unique dual token economics protocol. : altcoin

CMC: https://coinmarketcap.com/currencies/centric-swap/

Centric has innovative dual-token digital currency model. Centric Swap (CNS) and Centric Rise(CNR)

Cryptocurrencies have struggled to achieve mass adoption because of price volatility. In turn, they carry more risk than an incentive, leading them to struggle with user adoption and retention. But Centric Rise is a deflationary cryptocurrency that rises in value every hour, providing a compelling incentive to investors and the stability necessary to drive utility and adoption.

CNR is unique as it trades at a fixed price and yields hourly growth, whereas CNS is just like a regular cryptocurrency, and trades at the price set by the market. At any time Centric Rise can be redeemed in exchange for Centric Swap and vice-versa.

Some unique features to the Centric Rise token are;

  • Burn – Critical to the deflationary economic model tokens are burned out of circulation reducing overall supply each hour.

  • Price Blocks – The Centric Foundation monitors network stability, growth, adoption and a number of other core metrics to set future price growth which is focused in the early stages of development on network adoption and incentive.

  • Convert – Allows uses to convert between Centric Rise & Centric Swap tokens.

  • Send & Receive – A stable form of payment to anyone in the world in seconds.

  • Limited Supply – Max supply 1,000,000,000 (1 Billion)

CNS is deemed as 1$ of CNR in the protocol always and the protocol will enforce this value over time. That basically means CNS will become a synthetic stable coin teetering around 1$ constantly after network consensus, whereas the CNR will simply keep on rising on according to future hourly price blocks.

When CNR is redeemed for CNS, it is held in quarantine as security on the Centric Rise smart contract (Hourly CNR burn also happens from here).

Conversely, when CNS is redeemed for CNR, CNR is released from quarantine. (CNS is minted but no new CNR can be minted as it’s only deflationary)

After network consensus has been established and adoption/stability/utility phases are over. The final goal of Centric will be to compete with existing transactional currencies offering censorship resistance, price discovery, tiny fees, fast international transactions, plus the additional benefits of a public blockchain ledger.

The extra utility that can be created because of the dual token and the hourly rise are also immense such as new loan mechanics or DeFi options. I suggest you all to do some research on this project as the economic principlies stated especially in the whitepaper is really intriguing. Another point that i liked was there being no lock-up period you can swap your CNS-CNR anytime you want unlike most other yields in the sector.

Main Website: https://www.centric.com/

You can see the key metrics for both coins in this link such as the currently CNR monthly yield (%16.0 atm)


Whitepaper: https://www.centric.com/docs/Centric_Whitepaper.pdf

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