How Centric Plans to Transform the Face of Cryptocurrency
June 25th, 2020 at 1:56 pm UTC · 3 min read
Cryptocurrency is a topic in finance that is met with heated debate from both critics and supporters. For the supporters, the technology is merely the beginning of something bigger and better, a decentralized, globally adopted form of currency that drives economic growth.
However, the critics of crypto are not as optimistic. For them, crypto is a question of purpose and handling volatility. No matter which side you align with, volatile is a great adjective to describe the nature of crypto. A glance at the 1-week chart for Bitcoin and Ethereum is enough to scare off any passive investor.
Another issue with cryptocurrency is that the market is not exactly treating it like a “currency,” but rather, a commodity. If crypto-supporters truly want a coin to be adopted, there needs to be a change in the perception of crypto (less: risky asset; more: stable platform).
Both the volatility-problem and lack of mass-adoption is what gave rise to companies like Centric and their two-token system, Centric Cash and Centric Rise. By utilizing a two-token system, Centric hopes to provide the market with a stable form of currency that could actually replace fiat currencies.
How it Works
To understand the two-token process, it is important to understand what each token is and the purpose it serves.
Centric Rise operates as a deflationary currency, meaning that the supply decreases overtime at a rate set by the Centric Foundation one year in advance. By doing this, the value of Centric Rise only grows. This provides a safe means of value-storage by removing speculation and incentivizing adoption for individuals, businesses, and governments.
Centric Cash is a publicly-traded cryptocurrency with an immutable price target of $1.00, however, Centric Cash is not minted in the traditional sense. Centric Cash acts as a claim to Centric Rise through the smart contract. When you convert Centric Cash into Centric Rise, the Centric Cash is burned out of circulation.
To summarize, Centric Cash acts as a key to obtaining Centric Rise. Because Centric Cash has a price target of $1.00, the market is stabilized. Prices below $1.00 make investing into Centric Rise advantageous and prices above $1.00 encourage liquidating Centric Rise.
Why You Should Get Involved
Centric Rise is the key to a stabilized form of value storage that cryptocurrency has lacked. Because Centric Rise is deflationary, it is decreasing in supply every hour. When the quantity of Centric Rise investors is low, the rate of return is high, meaning a quicker increase in value for early adopters.
However, as more people invest, the rate of price growth for Centric Rise is lowered. Meaning, investing in the platform early on is advantageous. As Centric becomes widely adopted, Centric Rise will be an extremely rare token.
What Sets Centric Apart from Other Cryptocurrencies
Centric has a different set of goals that orient it towards a different path than other cryptos. For instance, Centric Cash is immutably set to equal $1.00 worth of Centric Rise, but it is not backed by other assets.
Centric Cash is also not minted until it is exchanged as Centric Rise into a smart contract. So, essentially, Centric Cash operates as a key-driver to allow for both value storage and liquidation. This two-token process provides investors with a platform they can rely on and utilize for everyday exchanges.
Learn more about Centric by visiting the website or reading their White Paper here.