Stability is one of the key issues of the crypto market. The prices of crypto assets are highly unstable and vary significantly even during one day. There are, of course, stablecoins that try to address this problem, yet their solutions also possess certain shortcomings. Centric is a project which offers a revolutionary approach to crypto stability. The protocol regulating the Centric Rise (CNR) and Centric Swap (CNS) tokens was designed to eventually achieve a price-stable financial framework. The core idea behind Centric is to ensure stabilization of the purchasing power of digital currencies and prevention of their prices from fluctuations. NOWPayments provides businesses and individuals with tools for accepting CNS as payment and donations.
Key Points:
- Centric takes a long-term approach to solve the issue of crypto volatility.
- Centric relies on a two-token model consisting of CNR and CNS cryptocurrencies.
- NOWPayments lets businesses and individuals accept CNS as payment.
What is Centric Swap?
Volatility problem
Price volatility is an inherent part of cryptocurrencies, and it is their biggest flaw and the largest obstacle to the mass adoption of cryptocurrencies. In the case of fiat currencies, there is a central bank that ensures their stability by employing different instruments. Cryptocurrencies, unlike dollars and euros, do not have a single authority comparable to the central bank, which could manage their monetary policies conducive to the stabilization of purchasing power. Therefore, every slight change in demand causes massive price fluctuations in crypto.
Decentralization, despite many of its advantages, has made the majority of existing cryptocurrencies assets similar to stocks. Cryptocurrencies are valued based on psychology, traded on unregulated stock markets, and susceptible to manipulation. Moreover, the lack of stability prevents crypto credit and debt markets from forming.
Centric solution
Centric is a project that addresses the problem of crypto volatility. Instead of following the rest of the industry by focusing on transaction throughput and smart contracts, Centric believes that solving price stability is much more important for crypto adoption and realizing the economic capabilities of the blockchain.
Centric provides an innovative dual-token digital currency solution and a decentralized blockchain protocol which is built on sound economics. Centric’s dual-token model rewards adoption and stabilizes over time as it self-regulates token supply to meet ongoing changes in demand.
The two tokens that power Centric’s dual-token model are called Centric Rise (CNR) and Centric Swap (CNS). CNR is traded at a fixed price and yields hourly growth, whereas CNS is similar to any regular cryptocurrency, and its price depends on the current demand. At any time, users can exchange Centric Rise for Centric Swap and vice-versa.
CNR is pegged to trade for a predetermined and increasing value over time, denominated in USD. The model provided by Centric is similar to the monetary policy executed by central banks, except that it relies on a protocol-enforced algorithm, where economy experts act as oracles to the blockchain and transparently set the price one year in advance. Essentially, Centric creates a transparent central bank on the blockchain which has a predictable price growth.
Centric Rise is neither a fully free-traded token nor does it meet the standard definition of a stablecoin. The nominal value of Centric is steady, yet it also experiences “effective” price fluctuations thanks to its freely traded ecosystem token, Centric Swap (CNS). Predicted price progression and the ecosystem of applications that rely on Centric Rise as their currency guarantee Centric its nominal value.
The goal of Centric
The Centric approach to cryptocurrencies can encourage people to change their perception of cryptocurrency as highly volatile assets. With Centric, people can become more comfortable with holding their savings or revenue in cryptocurrency. A more stable cryptocurrency market can trigger a new adoption cycle for cryptocurrencies, helping them transition into functional currencies.
What are the benefits of Centric Swap?
Governance
The Centric Foundation, a non-profit entity, governs Centric. The role of the Centric Foundation is to expand adoption by developing partnerships and supporting innovative projects that contribute to the utility of Centric.
Long-term vision
Centric has been providing a clear vision for its development since 2017. Centric is a project with a real future perspective, which focuses on a 10-year roadmap that includes products, services, partnerships and regulatory compliance. View the Centric roadmap.
Adoption is rewarded
The exchange rate between Centric Swap and Centric Rise grows in the Centric economy by a small amount every hour. So, when users hold Centric Rise, they gain hourly yield. At the time of this writing, Centric Rise yields 14% per month. The rate of growth will slow over time, with an eventual target of 4% per year.
Stabilizing economics
Centric’s dual-token model helps the Centric ecosystem to offer a synthetic-stable currency. Over time, the Centric protocol will ensure regulation of the supply of Centric Rise to raise the on-market price of Centric Swap to $1 USD.
Centric Swap Tokenomics
General information
As mentioned above, Centric maintains a two-token model. The initial supply of Centric Rise is 1,000,000,000, while the initial supply of Centric Swap is zero. CNR and CNS are BEP-20 standard tokens issued on the BSC blockchain. CNR has a deflationary nature, while CNS is elastic. The Centric Swap token is used to provide liquidity on the free market in the early stages. Centric Swap is a low-volatility, a zero-sum cryptocurrency created and destroyed on-demand to facilitate the liquidity of Centric Rise. Users can obtain Centric Swap by buying it from licensed brokers and exchanges. They also can convert Centric Rise to Centric Swap using the decentralized and immutable Centric convert protocol. Centric Swap is pegged to 1.00 USD worth of Centric Rise. Nevertheless, it is not backed by any assets, which sets it apart from stablecoins.
The two-token system ensures a balance of the aggregate demand through a relationship with autonomous feedback mechanisms. The dynamics of the two-token model act to maintain the agreed rate of return of Centric Rise while stabilizing the value of Centric Swap.
CNS basics
Essentially, Centric Swap is designed to function as a medium of exchange, providing the Centric protocol with transactional compatibility to the existing blockchain ecosystem. CNS is minted in exchange for Centric Rise at a rate of $1.00 per token. The supply of CNS is determined purely by demand. Centric Swap can be minted only when Centric Rise is deposited to the protocol. CNS enables unlimited liquidity for Centric Rise.
CNR basics
Centric Rise is a deflationary cryptocurrency which offers predictable returns and acts as a robust form of value storage. It has an agreed nominal rate of return set one year in advance. The price of CNR is published to immutable price blocks on the blockchain one-year in advance. It is liquid through its relationship with Centric Swap. It is inherently fungible, transportable, durable, and divisible.
Is Centric Swap a good investment?
It is clear that Centric is an innovative project that has the potential to revolutionize the crypto industry forever. Centric has a clear vision for its future growth and development. Every investor can familiarize themselves with the detailed roadmap offered by Centric. This shows that Centric is committed to delivering real utility. The two-token system of Centric provides investors with plenty of investment opportunities. When put in perspective, the value growth prospects for both CNS and CNR look really positive. As of the beginning of March 2022, the Centric Swap token experienced a considerable rise in its price. Although it is natural that the price of CNS may vary in the future, the evidence shows that it is likely to grow further, given that Centric continues to attract new users and generate the demand for its tokens. Thus, CNS, as well as CNR cryptocurrencies, are a good investment for those who want to capitalize on the finance industry of the future. At the same time, we encourage you to do your own research and not consider the aforementioned analysis financial advice.
How to buy Centric Swap
Investors have several solid ways of purchasing CNS. They can do it using trusted exchanges, either centralized or decentralized. Here is a guide on how to get CNS on AscendEX, one of the leading crypto exchanges:
- First, you will need to register on and verify your account.
- Next, you will need to top up your AscendEX USDT balance.
- Then, you will have to specify the amount of CNS you wish to obtain and purchase it.
How to get Centric Swap payments
As was mentioned above, businesses and individuals can begin to accept CNS payments and donations. In order to start featuring a Centric Swap payment gateway, you only need to register on the official website of NOWPayments and choose your preferred way of accepting CNS payments and donations.
FAQ
Conclusion
Centric facilitates the mass adoption of cryptocurrencies by providing its two-token system, which is designed as a long-term solution to crypto volatility. CNS and CNR are the two tokens of Centric which exist in a close relationship. NOWPayments enables businesses and individuals to deploy a CNS payment gateway.