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AMA Recap - BSC Migration

AMA Recap: BSC Migration with COO Tommy Butcher & CEO Joel Clelland

Did you miss the AMA covering Centric’s upcoming BSC migration? Read our notes below recapping key points.

Did you miss the July 5, 2021 AMA (ask me anything) about Centric’s upcoming BSC (Binance Smart Chain) migration? Not to worry. Access to the recording is available here. Or read our notes below recapping key points.

For more background on the move to BSC, please see this previous post.

  • The launch is tentatively scheduled for July 15th. (Centric is ready to go, but exchanges could delay this date.)
  • The smart contract addresses are changing because of a deployment error. Code is not changing; no re-audits are necessary.
  • Any TRX held in the Centric Web Wallet will be recoverable after the launch. It won’t be immediate, so please be patient. 
  • Our long-term plan is to list on all major Tier 1 exchanges. We are not able to discuss exchange listings until after the exchange announces (if we do, it can risk our listing)
  • If you have CNS in the Centric Wallet or Exchange, you will not have to do anything. The Centric team will auto-convert your tokens from TRC-20 to BEP-20 at the time of the jump.
  • A tool called Centric Convert will be available for converting any CNR held in an external wallet (meaning, not one on an exchange or in the Centric Web Wallet). The tool will convert CNR only; it will not convert CNS.
  • We are creating a new version of Centric Swap (the tool) to support BEP-20 tokens. We will continue supporting Centric Swap for TRC-20 tokens for the foreseeable future. Each version of the tool will be on its own subdomain. We will share the address as we get closer.
  • After the team studied available options, Binance Smart Chain rose to the top as the move that made the most sense. They offer a variety of DEXs, partnership opportunities, visibility / exposure, and an enhanced user experience. They also offer lower fees.
  • Centric cannot answer questions for partners or exchanges. (An attendee asked a question related to Ciphervolt turnaround times.)
  • Probit halted trading. Tommy has an email out to them asking to resume trading until we get closer to the jump. (Update: trading on Probit has resumed.)
  • If you have CNR on Moolah, it will be converted from TRON to BEP-20. Be aware that once the switch occurs, Moolah will need to deploy some updates. If you unstake CNR on Moolah, there will likely be some down time where you won’t be able to re-stake for a while, until these updates go live.
  • The team is already talking to other DEXs (decentralized exchanges) and exploring options.
  • There will be two separate subdomains for Centric Explorer, one for Tron, and one for BSC.
  • Bittrex Global and Hotbit do not currently support the Binance Smart Chain, so they will not be moving along with us. If they establish support for BSC in the future we can rekindle those relationships. JustSwap will also go away as a supported exchange as they only list TRON tokens. (It is possible that users providing liquidity could continue to keep TRON CNS on JustSwap).
  • The team will hit marketing harder the next few months. Most marketing is focused on new users and growing the crypto market as a whole. We heavily support growing adoption of crypto globally. We will also reach existing crypto users with marketing.
  • CENPAY is still in the works. We have a sales team working on partnerships and talking to some very large companies. We recently acquired a premium sales tool that will accelerate their endeavors.
  • Centric is looking for steady organic growth, not “pump and dump”.
  • GHS and other partners will not launch on the 15th when we migrate due to testing. Centric will launch first and get settled. When GHS and other partners are ready, they will make the move to BSC.
  • We are still working on our 10-year roadmap video, however our major focus is currently on the BSC jump.

Still have questions about our jump to the Binance Smart Chain? Visit us on Telegram.

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