Cryptocurrencies, unlike fiat currencies, do not have a central bank to implement monetary policy focused on stabilizing purchasing power. Thus, changes in demand induce massive price fluctuations. The decentralized model of price discovery has made the majority of existing cryptocurrencies nothing more than stocks or commodities, valued on psychology, traded on unregulated stock markets, and susceptible to manipulation.
The lack of price stability has prevented credit and debt markets from forming because volatility incurs a premium. While the rest of the industry focuses on transaction throughput and smart contracts, Centric Swap focuses on solving price stability to realize the economic capabilities that the blockchain enables. Centric’s nominal value is steady but does experience “effective” price fluctuations due to its freely traded ecosystem token, Centric Swap (CNS).
Centric Swap is a low-volatility, zero-sum cryptocurrency, created and destroyed on-demand to facilitate the liquidity of Centric Rise. Users may obtain Centric Swap by buying it from licensed brokers, or exchanges or by converting 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 on the converted protocol but is not backed by any assets, setting it apart from stablecoins.
The protocol values and exchanges Centric Swap for Centric at a value of 1.00 USD, translating to a 1:1 USD peg. The market capitalization of Centric Swaps indicates the aggregate demand for Centric. When the market price of Centric Swap deviates from the target price in the short run, the mechanisms inherent in the Centric protocol mitigate the instability.
For example, if the market price of Centric Swap is above $1, holders of Centric Rise receive an incentive for liquidating. As a result, we should see the market price of Centric Swap pull down towards the $1 target price. Alternatively, if the market price of Centric Swap is below $1, users wanting to enter the Centric Rise Token will get a discount for purchasing Centric Swap, and Centric Rise thereafter.
The market price of Centric Swap indicates the aggregate demand for Centric Rise and represents the perceived sustainability of its future value. As long as speculators perceive sustainability, we should expect only small deviations in token prices around any peg.
Centric Swap (CNS) is traded freely on cryptocurrency exchanges at a price dictated by the market. It provides liquidity to the Centric payment network through transactional compatibility with existing currency ecosystems. Centric Swap is minted and burned on demand in exchange for Centric Rise. The Centric Swap token is governed by the Centric Swap smart contract.
Who are the founders of Centric Swap (CNS)?
Joel Clelland is the company’s new chief executive officer. With over twenty years of diverse career experience, Clelland possesses an impressive track record of leadership in various industries and capacities, including finance, education, and the nonprofit sector. Most recently, Clelland built and led a successful sales, marketing, and distribution agency at World Financial Group.
What is Centric Swap (CNS) used for?
Convert
Users may convert at will between Centric Rise & Centric Swap tokens.
Send & Receive
Centric Rise offers a stable form of payment to anyone on the planet, with transaction settlement in seconds.
Stability
When the price of Centric Swap approaches $1, the burning of Centric Rise slows and volatility reduces. Centric will offer a compelling alternative to fiat currencies and serve as a digital payment system for a wide variety of online merchants.
Burn
Critical to the deflationary economic model, tokens are burned out of circulation, reducing overall supply each hour.
Utility
Centric will compete with existing transactional currencies by offering censorship resistance, price discovery, tiny fees, fast international transactions, and the additional benefits of a public blockchain ledger.
How is Centric Swap (CNS) unique?
The market price of Centric Swap indicates the aggregate demand for Centric Rise and represents the perceived sustainability of its future value. As long as speculators perceive sustainability, we should expect only small deviations in token prices around any peg. Any token holder can exchange CNR for CNS and vice-versa.
The immutable protocol dictates: CNS can be minted in exchange for CNR at a fixed rate of 1 CNS = CNR price/CNR exchange amount, and CNS can be burned in exchange for CNR at a fixed rate of 1 CNR = CNS exchange amount/CNR price. Hence, when CNR is exchanged for CNS, it is held in quarantine on the Centric Rise smart contract. Conversely, when CNS is exchanged for CNR, CNR is released from quarantine.
An additional group that can be expected to maintain buy pressure on the market rate of Centric Swap is speculative cryptocurrency traders. As long as traders trust the immutable protocol to honor the hardcoded $1 peg, they become arbitrageurs and steadily drive the price of the Centric Swap token closer to the $1 peg with each trade.
Centric Swap believes financial freedom for the next generation can be stable, reliable, trusted, and untethered from existing assets. It’s our vision to be the breakthrough digital currency, widely accepted globally. They believe the largest obstacle to the mass adoption of cryptocurrencies is price volatility; hence, Centric Swap is a cryptocurrency with low volatility and predictable returns.
How many Centric Swap (CNS) coins are in circulation?
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 with existing currency ecosystems. Centric Swap is minted and burned on demand in exchange for Centric Rise.
The Centric Swap token is governed by the Centric Swap smart contract. Both CNR and CNS are BEP-20 standard tokens implemented on the BSC blockchain. The maximum supply is exactly 1,000,000,000 (1 billion) tokens, with a circulating supply of 1,726,750,305 CNS.
How is the Centric Swap network secured?
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.
How do I buy Centric Swap (CNS)?
The CNS token can be used for a wide range of purposes, like staking and governance.
CNS tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy CNS through your trading account by swapping with BTC, ETH, or USDT pairs.
Which Cryptocurrency Wallet Supports Centric Swap (CNS)?
The PTPWallet platform supports many cryptocurrencies, with CNS soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.
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