Centrality rewards programme
By: Nicole Upchurch
Tags: Token, Staking, Cryptocurrency, Blockchain, Centrality English

We have some exciting news for our devoted CENNZ holders. We’re announcing our new reward programme that will allow CENNZ token holders to receive real Centrapay reward tokens before we move to public staking.

Our ecosystem runs on a two-token model — to do this we’ll need to start with a pool of gas tokens when the network moves to public staking, which we’re making available exclusively for current CENNZ holders.

The staking reward calculation for this programme will be 10%. So, if you add 10,000 CENNZ tokens to our pre-staking smart contract you’ll receive approximately 246 CentraPay tokens at the end of the 90 day staking period. The more tokens you add the more reward tokens you receive. All tokens will be released back to you in time for public staking.

90÷365×10,000CENNZ×10%=246

Here’s how you join the reward programme:

Head to centrality.ai/reward

For the best experience, we recommend using the Google Chrome browser. Login with Metamask and authorise the connection to centrality.ai/reward.

If you don’t have MetaMask you can download it here.

Please note: If you need to transfer CENNZ from other wallets to your MetaMask account then please do so BEFORE moving to the next step. Click on the blue button that says ‘grant permission to this contract’.

(No CENNZ will be staked at this stage, you’re simply enabling the smart contract for the reward programme to interact with the CENNZ tokens in your account).

Please be patient! The amount of time that it takes for the ‘grant permission’ transaction to be sent to the blockchain can vary. Please wait for the transaction to complete before you continue staking. You can check the status of your transaction via MetaMask. If it says ‘confirmed’ but you still can’t stake, try refreshing the page. Once permission has been granted you’ll need to confirm the transaction via MetaMask.

Please note: MetaMask automatically determines an average gas price for each transaction. If the fee is set very low, it may take a while to complete your transaction. If you’d like to increase the chance of a faster transaction time, you will need to increase the gas price when signing the transaction on MetaMask. Once you are back on centrality.ai/reward you’ll need to input the amount of CENNZ you would like to send to the smart contract (the total number of CENNZ that you have available to stake will display under this field). You can stake your full amount or a partial amount, but you can only stake once per account. Acknowledge that you understand the terms and conditions of the programme. Please read these carefully as you will not be able to withdraw your tokens until the period has finished at 12pm on 26 January 2020 NZT. Once you click ‘stake’ you will also need to confirm the transaction through the Metamask popup box. Once your transaction is processed, a confirmation box will appear on centrality.ai/reward and you will begin to earn Centrapay rewards. You will be able to check your transaction history further down the page.

If you have any problems with staking please email support@centrality.ai or ask one of the admins in the JP Official Telegram or Centrality Official Telegram.

Please be aware of possible scams. We will never contact you directly to ask for CENNZ or to ‘give away CENNZ for free’. Always use the official centrality.ai/reward site or contact support@centrality.ai if you’re unsure.

You can check the total number of CENNZ committed to the smart contract (and Centrapay earned) via the centrality.ai home page. You can also see your individual balance at any time by going to centrality.ai/reward.

Once the reward period has finished you will need to withdraw your CENNZ and Centrapay tokens from the site. We’ll post reminders on the Centrality social and community pages.

The official reward programme begins on 28 October 2019 and runs for 90 days until 12pm NZT on 26 January 2020. However, CENNZ holders who join the programme before this date will start receiving Centrapay rewards straight away — so the earlier you join the more tokens you will receive!

FAQs

Who should I contact if I need some help with staking?

Our team are happy to troubleshoot any issues that you have. Please email support@centrality.ai or ask one of the admins in the JP Official Telegram

Why are you doing this?

When the CENNZnet main net launches we will need a base level of gas(Centrapay) in the network to bootstrap it for transactions and activity. We want our existing CENNZ token holders to exclusively supply this gas to the network.

Will I be able to trade Centrapay on an exchange? Which exchange?CentraPay tokens will be used in the CENNZnet network as gas for transactions. There is a built-in exchange on CENNZnet for these tokens.

Why is the programme 90 days

We plan to release the tokens before we move to public staking, which is scheduled for Q1 2020.

Do I have to deposit all of my tokens?

No, you can choose how many tokens you can stake during the period, but the more that you stake, the more Centrapay rewards you will receive. You can only stake once per wallet.

Can I get my tokens out at any time?

The tokens will be staked for 90 days and will not be available to withdraw during this period. You will accrue Centrapay tokens during the staking term as a reward.

Is Centrality locking up their tokens to the smart contract?

We are still in the vesting period for the CENNZ token, but we will also stake our tokens as a commitment to our community.

What about staking on the existing CENNZnet?

Staking for the CENNZnet platform is currently in a testing phase. People who want to run their own node can receive ‘test’ CENNZ tokens from the faucet and will receive ‘test’ Centrapay reward tokens. By staking your real CENNZ tokens during this reward programme we will give you real Centrapay reward tokens before anyone else.

How will I get my reward tokens?

Once the 90 days is complete you will be able to withdraw your original CENNZ tokens, along with your new Centrapay reward tokens. We’ll send out reminders to withdraw your tokens closer to the finish date.

How are the CentraPay tokens being created?

We will be minting the CentraPay tokens on Ethereum