Centric is the world's first dual-cryptocurrency payment network. The Centric Rise token rewards users with a steady increase in value each hour. What is Centric Rise (CNR) | What is CNR token | Centric Rise (CNR) ICO
Centric is the world's first dual-cryptocurrency payment network. The Centric Rise token rewards users with a steady increase in value each hour.
We believe the largest obstacle to the mass adoption of cryptocurrencies is price volatility. 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 to 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, we focus on solving price stability to realize the economic capabilities that the blockchain enables
In this paper, we introduce Centric Rise, a cryptocurrency with low-volatility, and predictable returns.
Each unit of Centric Rise is pegged to trade for a predetermined and increasing value over time, denominated in USD. This model is similar to the monetary policy executed by central banks, except as a protocol-enforced algorithm, with economy experts initially acting as oracles to the blockchain and transparently setting the price a year in advance. For this reason, in the near term, Centric can be understood as implementing a transparent central bank with predictable price growth.
Centric Rise is a new class of digital currency that does not match with existing coins or stablecoins. It is not a fully free-traded token, and it does not meet the standard definition of a stablecoin, either. Centric’s nominal value is steady but does experience “effective” price fluctuations due to its freely traded ecosystem token, Centric Cash (CNS). The nominal value is supported through its predicted price progression as well as the ecosystem of applications that use Centric Rise as their currency. Through these methods, Centric Rise addresses the volatility and price fluctuations experienced by first-generation virtual currencies such as Bitcoin and Ethereum, without being dependent on an underlying asset such as the USD or gold. By eliminating the dependency on the stability of other assets, Centric Rise is markedly different from any other digital asset that has so far been launched.
To provide liquidity on the free market in the early stages, Centric Rise has issued a freely traded token known as Centric Cash. Centric Cash is a low-volatility, zero-sum cryptocurrency, created and destroyed on-demand to facilitate the liquidity of Centric Rise. Users may obtain Centric Cash by buying it from licensed brokers, exchanges, or by converting Centric Rise to Centric Cash using the decentralized and immutable Centric convert protocol. Centric Cash is pegged to 1.00 USD worth of Centric Rise on the convert protocol but is not backed by any assets, setting it apart from stablecoins.
Centric Rise is designed for individuals, businesses, and governments who want to use a manipulation proof currency that is not speculative. The design of Centric Rise is catered to mass adoption, ease of use and limitless application. Partnerships, apps, and utilities will increase value, transaction volume, and utility. Through application, integration, and partnerships, market demand will increase organically.
It’s important to understand that the Centric protocol acts predictably and in a manner that is not directly correlated to any other asset. The monthly nominal rate of return is the primary lever for monetary policy across the network and dictates Centric’s hourly price increases. It is calculated differently across two phases of the project. Initially, the monetary policy is predetermined and formally written to the blockchain one year into the future, each hour when a price block is used. Later on, after amassing enough trust and network value for the currency to self-stabilize, we will decentralize the oracle and peg the token to its absolute value. The absolute value of the token will be algorithmically determined using a methodology similar to the Fisher Effect equation, but uniquely modified to incorporate the effects of deflationary mechanisms. These were not needed previously because there were no solutions to verifiably deflating a currency.
The Centric Protocol is governed by the Centric Rise smart contract. The Centric Protocol cannot be updated once deployed.
CNR are TRC20 standard tokens implemented on the TRON blockchain.
Name Centric: Rise
Supply: 1,000,000,000 (1 billion)
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