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1/ THREAD
Alright, it's time for the promised write-up about my gem. This time it's about the dual token I believe will make millionaires. This dual token is none other than @CentricRise's Centric Protocol $CNS and $CNR.
This might be difficult to explain, so let's get to it.
Alright, it's time for the promised write-up about my gem. This time it's about the dual token I believe will make millionaires. This dual token is none other than @CentricRise's Centric Protocol $CNS and $CNR.
This might be difficult to explain, so let's get to it.
2/ What is Centric about?
Centric creates a stable blockchain currency that is pegged to $1, with a unique yielding system that's unlike anything I've ever seen. Eventually, Centric strives to work as an alternative to any other fiat currency.
Centric creates a stable blockchain currency that is pegged to $1, with a unique yielding system that's unlike anything I've ever seen. Eventually, Centric strives to work as an alternative to any other fiat currency.
3/ How does Centric do it?
Centric wants to create a stable coin by the usage of two tokens. $CNS and $CNR. $CNS is the token that will eventually become $1 and $CNR is used as an incentive to get it there.
Centric wants to create a stable coin by the usage of two tokens. $CNS and $CNR. $CNS is the token that will eventually become $1 and $CNR is used as an incentive to get it there.
4/ It works this way:
If $CNS's price deviates from $1 the market gets a massive incentive to buy or sell $CNS and thus adjust its price. This is what the Centric group calls the network consensus. More in the image.
If $CNS's price deviates from $1 the market gets a massive incentive to buy or sell $CNS and thus adjust its price. This is what the Centric group calls the network consensus. More in the image.
5/ Why is this important?
Other tokens change the price of their stable coin through minting and burning their tokens. This means they start with the token at $1. $CNS is different. Its price is currently $0.003 at the market cap of $10M. Here is where the incentive comes.
Other tokens change the price of their stable coin through minting and burning their tokens. This means they start with the token at $1. $CNS is different. Its price is currently $0.003 at the market cap of $10M. Here is where the incentive comes.
6/ The incentive comes in early adoption and holding of $CNR. Basically, you buy $CNS and swap it for $CNR. The price of $CNR is 1$ which always equals 1 CNS no matter the market price. This price steadily grows every hour by a predetermined amount.
7/ The current price of $CNR is $56.3. This means that 1 $CNR token equals 56.3 CNS. So, 1000 CNS tokens will give you 17.6 CNR. At this point, you wait for the $CNR price to rise.
8/ If it rises to 100$ and you swap it back to CNS, you'll get 1760 CNS tokens, no matter what CNS market price is.
9/ This basically gives you a giant incentive to not only buy in early but to HODL as well. See the yield calculator or the attached picture for more info.
https://www.centricgroup.org/yield-calculator/
Basically, if you buy in now and hold for 12 months, you get 500%+ yield of your tokens.
https://www.centricgroup.org/yield-calculator/
Basically, if you buy in now and hold for 12 months, you get 500%+ yield of your tokens.
10/ Why do I love this idea so much?
Again, the current price of $CNS is $0.003. If $CNS gets to its goal price of $1 (and it's heading there), that is around 340x gain from here. And that doesn't even count in the yield you'll have from holding $CNR as mentioned before.
Again, the current price of $CNS is $0.003. If $CNS gets to its goal price of $1 (and it's heading there), that is around 340x gain from here. And that doesn't even count in the yield you'll have from holding $CNR as mentioned before.
11/ Tokenomics
If you want to see how their team achieves this, everything is described in the whitepaper (page 10) that can be found on Centric's webpage:
https://www.centricgroup.org/whitepaper/
You can also see their token metrics: https://www.centricgroup.org/metrics/
If you want to see how their team achieves this, everything is described in the whitepaper (page 10) that can be found on Centric's webpage:
https://www.centricgroup.org/whitepaper/
You can also see their token metrics: https://www.centricgroup.org/metrics/
12/ Team & audits
The team is fully doxxed with each important member available right here with their LinkedIn attached https://www.centricgroup.org/about/ .
The project's been also fully audited: https://www.centricgroup.org/docs/centric-protocol-audit-report_iosiro_16-04-2020.pdf\\...\\Transparency
The team does what it can to stay fully transparent.
The team is fully doxxed with each important member available right here with their LinkedIn attached https://www.centricgroup.org/about/ .
The project's been also fully audited: https://www.centricgroup.org/docs/centric-protocol-audit-report_iosiro_16-04-2020.pdf\\...\\Transparency
The team does what it can to stay fully transparent.
13/ Once again I urge you to visit their website. You can find the immutable contracts and how they work, great whitepaper, foundation addresses https://explorer.centricgroup.org/data/foundation , roadmap, burn history and much, much more.
14/ Summary
Well and that's about it. There's more to cover, but I tried to keep it as brief as possible. I found the entire protocol hard to understand before I put some reading in. Now I am incredibly bullish on it.
Well and that's about it. There's more to cover, but I tried to keep it as brief as possible. I found the entire protocol hard to understand before I put some reading in. Now I am incredibly bullish on it.
15/ So much so, that this will be my main investment for the next few months. The team delivers and has a great future ahead of them and so will anyone who joins in. Oh, and as another advantage, the protocol runs on the Tron network, so the fees are almost non-existent.
16/ It is also available on many exchanges already.
I'll add also add a screenshot again from the yield calculator which shows an investment of $300 worth of $CNS changed into $CNR
Here is also their official video,
Anyway, thank you for reading. :)
I'll add also add a screenshot again from the yield calculator which shows an investment of $300 worth of $CNS changed into $CNR
Here is also their official video,
Anyway, thank you for reading. :)
Just to add a bit, the project already has some working use cases and working on more. The working projects include https://www.centricgroup.org/cenpay/ and partnership with http://Moolah.bet . More projects are coming. Read the whitepaper (page 14) https://www.centricgroup.org/docs/Centric_Whitepaper.pdf
