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.
The two tokens that make up Centric’s dual-token model are called Centric Rise (CNR) and Centric Cash (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 Cash 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 Cash (CNS)
- Liquidity
- Traded on exchanges
- Elastic supply
- Demand indicator
Holding Centric Rise yields predetermined hourly earnings on your investment in Centric Cash, because every hour, the value of Centric Rise increases in relation to Centric Cash. 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 enfoced by the Centric protocol and increases every hour when the Centric protocol balances.
No matter what price Centric Cash (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 Cash (CNS) to Centric Rise (CNR), and be holding CNR at the moment the Centric protocol balances.
When the Centric protocol balances at the begining 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 Cash.
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 Cash must be trading on the open market for $1 USD. At $1 USD, the market capitalization of Centric Cash is equal to the implied market capitalization of Centric Rise.
How we achieve network consensus.
If the price of Centric Cash 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 Cash 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.
Learn the Centric protocol
Protocol
The Centric Protocol defines two classes of tokens, Centric Rise and Centric Cash. The first, Centric Rise, is traded across the Centric economy and steadily increases in value hourly. The second, Centric Cash 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 Cash..
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 Cash (CNS)
Centric Cash (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 Cash is minted and burnt on demand in exchange for Centric Rise. The Centric Cash token is governed by the Centric Cash 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 TRC-20 standard tokens implemented on the TRON blockchain.
Name Centric Rise Symbol CNR Initial Supply 1,000,000,000 (1 billion) Supply Type Deflationary Name Centric Cash 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 * pCNR)/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 Cash. 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 Cash approaches $1 USD, 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.
Where to get Centric
Centric Cash (CNS) is available at the following exchanges.
ProBit Exchange Liste Centric Cash (CNS)
Learn more
Centric roadmap
View the history of the Centric project and our plans for the future. View the roadmap.
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