Learn About Us Resources Wallet Get CNS Learn the basics of Centric Centric is an innovative dual-token digital currency and decentralized blockchain protocol 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. Centric’s dual-token economy The two tokens that make up Centric’s dual-token model are called Centric Rise (CNR) and Centric Swap (CNS). 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. Centric Rise (CNR) Store of value Transactional currency Deflationary supply Inflationary price Hourly yield Centric Protocol Governs token exchange Regulates supply Immutable Censorship resistant Independently audited Centric Swap (CNS) Liquidity Traded on exchanges Elastic supply Demand indicator How adoption is rewarded Holding Centric Rise yields predetermined hourly earnings on your investment in Centric Swap, because every hour, the value of Centric Rise increases in relation to Centric Swap. Early in the project yield is high to encourage adoption and reduces over time to promote stability. How Centric's fixed yield works. Centric Rise (CNR) trades at a predetermined price enforced by the Centric protocol and increases every hour when the Centric protocol balances. No matter what price Centric Swap (CNS) is trading at, 1 CNS always converts to CNR at a fixed exchange rate of $1 USD of CNR. This means when the price of CNR increases each hour, it yields slightly more CNS than it did the previous hour. How to benefit from fixed yield. To benefit from Centric’s fixed yield, you must convert your Centric Swap (CNS) to Centric Rise (CNR), and be holding CNR at the moment the Centric protocol balances. When the Centric protocol balances at the beginning of each hour, if you are holding CNS instead of CNR, you will forgo your hourly yield. The longer you hold CNR, the greater your yield will be. How we are creating a synthetic-stable currency With Centric, we have created the conditions for a purely synthetic-stable currency – that is, a currency untethered from all forms of existing assets and capitalized by itself. To achieve this, over time the Centric protocol works to manage the supply of Centric Rise until its market capitalization is equal to the market capitalization of Centric Swap. Network consensus. A synthetic-stable currency is formed when the market capitalization of our two tokens is equal, at this point we have achieved what we call “network consensus”. For network consensus to occur, Centric Swap must be trading on the open market for $1 USD. At $1 USD, the market capitalization of Centric Swap is equal to the implied market capitalization of Centric Rise. How we achieve network consensus. If the price of Centric Swap is below $1 USD, the implied market capitalization of Centric Rise is too high. In this scenario, the supply of Centric Rise is burnt, constraining growth of the network until consensus returns. The further the deviation from $1 USD, the faster supply of Centric Rise burns. If the price of Centric Swap is above $1 USD, the implied market capitalization of Centric Rise is too low. In this scenario, the size of the network inflates unchecked until it becomes over-valued again. Protocol Use cases Protocol The Centric Protocol defines two classes of tokens, Centric Rise and Centric Swap. The first, Centric Rise, is traded across the Centric economy and steadily increases in value hourly. The second, Centric Swap is pegged to Centric Rise and trades freely on cryptocurrency exchanges. Together, the two tokens balance aggregate demand through a symbiotic relationship with autonomous feedback mechanisms. The dynamics of the protocol act to maintain the agreed price of Centric Rise while stabilizing the value of Centric Swap. Centric Rise (CNR) Centric Rise (CNR) Centric Rise (CNR) is a deflationary currency traded across the Centric economy. Each unit of Centric Rise is pegged to trade at an agreed price denominated in USD which is enforced by the protocol at the point of exchange. The Centric Rise token is governed by the Centric Rise smart contract. Centric Swap (CNS) Centric Swap (CNS) is traded freely on cryptocurrency exchanges at a price dictated by the market. It provides liquidity to the Centric economy through transactional compatibility to existing currency ecosystems. Centric Swap is minted and burnt on demand in exchange for Centric Rise. The Centric Swap token is governed by the Centric Swap smart contract. Governance The Centric Protocol is governed by the Centric Rise smart contract. The Centric Rise smart contract is immutable which means it cannot be changed. Tokens CNR and CNS are BEP-20 standard tokens implemented on the BSC blockchain. Name Centric Rise Symbol CNR Initial Supply 1,000,000,000 (1 billion) Supply Type Deflationary Name Centric Swap Symbol CNS Initial Supply 0 Supply Type Elastic Centric Rise Price The price of CNR is enforced by the Centric Rise smart contract and dictates the current trading price of CNR across the Centric economy. It is read from immutable ‘Price Blocks’ stored on-chain that are published up to 1 year in advance. Price Blocks Price Blocks store the current, future and past prices of CNR and are denominated in USD. Each Price Block is referenced by a Block Number that corresponds to a distinct hour in time denoted in hours since Unix epoch. The immutable protocol dictates that a Price Block cannot be altered or destroyed once created and are unique for each hour in time. Price Block Creation The creation of a Price Block is triggered by the Centric Foundation and executed by an immutable formula stored on the Centric Rise smart contract. The CNR price set in a new Price Block is increased programmatically using the following formula. vn = vl * (1+r)^(1/t) vn is the CNR price of the new Price Block. vl is CNR price of the previous Price Block. r is the Future Growth Rate. t is the number of hours in the month the Price Block references Future Growth Rate The Future Growth Rate is a network variable expressed as a percentage stored by the protocol, it dictates the future monthly nominal price growth of CNR. The Future Growth Rate is controlled by the Centric Foundation. Token Exchange Any token holder can redeem CNR for CNS and vice-versa. The immutable protocol dictates: 1. CNS can be minted in exchange for CNR at a fixed rate of 1 CNS = CNR price/CNR amount exchanged. For every CNS in circulation, $1USD of CNR is held as security by the Centric protocol. 2. CNS can be burnt in exchange for CNR at a pegged rate of 1 CNR = CNS exchange amount/CNR price. Centric Rise Quarantine When CNR is redeemed for CNS, it is held in quarantine as security on the Centric Rise smart contract. Conversely, when CNS is redeemed for CNR, CNR is released from quarantine. Economy Capitalization Rule The market capitalization of quarantined CNR (CNR price*CNR quarantined) must equal the market capitalization of CNS ($1USD*CNS supply). Protocol Balance Every hour the price of CNR increases to its next predetermined price, resulting in the network capitalization of CNR held in quarantine to increase. This creates a mismatch breaking the rules of the protocol. Subsequently, CNR is burnt from the smart contract equal to the mismatch to balance the network. Protocol balance is calculated using the following formula. b = (q * pCNR - c * pCNS)/pCNR b is the amount of CNR to burn q is the amount of quarantined CNR pCNR is the current CNR price C is the current supply of CNS pCNS is the CNS to CNR peg price ($1) Use Cases Adoption phase (current) In the adoption phase, Centric’s economics are volatile as the supply of Centric Rise burns quickly to find consensus with the market price of Centric Swap. The utility of Centric is small with a limited number of partners. During this phase, Centric is an investment opportunity. Stability phase When the price of Centric Swap approaches $1 USD, the burning of Centric Rise slows and volatility reduces. At this point, we have the conditions for a synthetic-stable currency. During this phase, Centric will offer a compelling alternative to fiat currencies and serve as a digital payment system for a wide variety of online merchants. Utility phase When Centric has gained the trust of online buyers and sellers it will transition to a viable alternative to fiat currencies. Centric will compete with existing transactional currencies offering censorship resistance, price discovery, tiny fees, fast international transactions, plus the additional benefits of a public blockchain ledger. Learn more Centric roadmap View the history of the Centric project and our plans for the future. View the roadmap. Key metrics View the important data of the Centric economy such as token supply and price growth. View the key metrics. Centric Foundation Learn about the Centric Foundation, our vision and the team leading us to success. Read about the Centric Foundation. Related resources Getting Started Guide Learn how to join Centric and get up running in the Centric economy. FAQ's Get answers to the most frequently asked questions. Whitepaper Explore detailed information about the Centric project. Learn Basics Roadmap Whitepaper Key Metrics Yield Calculator Guide Cenpay FAQ's About Us Centric Foundation News & Events Careers Blog Contact Us Resources Resource Portal Developer Hub Centric Swap Centric Explorer Wallet Support Socials Facebook Twitter YouTube Telegram Telegram Chat Instagram Discord Reddit LinkedIn Languages Only swap CNS to CNR using www.centricswap.com or the Centric Wallet. Beware of swapping through MetaMask. Centric Rise (CNR) Contract: 0xdCbA3fbd7BBc28abD18A472D28358089467A8a74 Centric Swap (CNS) Contract: 0xF6Cb4ad242BaB681EfFc5dE40f7c8FF921a12d63 © 2019-2021 Centric - All rights reserved. Privacy Policy Terms of Service