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Is Centric Cash a Stable Coin?

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.

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 cryptocurrencies 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 stable coins by removing the counterparty risk and potential regulatory hurdles faced by stable coins which are traditionally backed by government-issued fiat currencies.

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