Dear Centric Community,
Q2 is under our belt, which means 2022 is already half over. Hard to believe, isn’t it?
What a difference a quarter makes.
If you’ve been paying attention to the broader crypto market, you’ll know Q1 closed with bitcoin in the mid-40s ($45,538.68). Three months later, it plummeted by over fifty percent, including dipping below $20K and taking most of the market down with it. While certainly not unscathed, Centric Swap has fared the storm better than some.
Even amid a crypto winter—and with rumblings of a possible global recession on the way—Centric Foundation remains optimistic. There’s an incredible peace that comes from knowing that regardless of market swings, red candles, and bloody price charts (too dramatic?), our hero Centric Rise continues to grow, hour by hour, unphased by the swirling chaos. CNR’s pre-programmed hourly price blocks don’t check with the market to decide if they should activate or not. The blockchain enforces CNR’s growth, irrespective of any emotion, FUD, or FOMO.
If history repeats itself—and it usually does—this too shall pass, and we’ll be back in a bull market before we know it. Meanwhile, we continue to work every day to advance Centric adoption worldwide.
Bear markets are the times to buckle up, tighten the belt, focus on the essentials, and continue to build. And that’s what we’re doing at Centric Foundation.
By the way, many of you have shared that you’re looking at the current market as CNS accumulation season. Not financial advice, but there’s a reason the phrase Buy Low, Sell High gets bandied about, regardless of the financial weather.
On that note, let’s take a step back and review the terrain we traversed over the past three months.
Centric Foundation’s New Advisor
Sangjin Hong
We began the quarter welcoming a new advisor to the Centric Foundation: Sangjin Hong of Korea. Mr. Hong brings extensive blockchain and tech industry experience, and a deep network in the blockchain community. Check out our blog post introducing him to the community.
New Businesses Accepting Centric
Here are four more businesses that began accepting Centric this past quarter.
WebPC
WebPC is a pay-as-you-go cloud-based DaaS (Desktop-as-a-Service) provider based in Edinburgh, Scotland.
DejaVu Trades
An online platform from Colombia that helps traders in their operations, DejaVu Trades provides trends, support, and signals to enter the market long or short.
AirbrushCustoms
Virginia’s AirbrushCustoms sells custom hand-painted and airbrushed t-shirts, hats, hoodies, and more through their eCommerce platform.
TurkishBox
An online retailer of traditional and handmade Turkish items and housewares, TurkishBox offers cotton towels, ceramics, coffee makers, teapots, copper products, wall art, and more.
Ready to Accept Centric at YOUR Business?
If you’re a business owner and you’d like to offer your customers a Centric payment option, please get in touch with our CENPAY team. Complete the form at Centric.com/cenpay.
Where would you love to shop with Centric? Please invite the business owner to contact us!
Metrics & Milestones
Centric Rise Growth
The immutable price blocks set by Centric Foundation had CNR kicking off the quarter with a pre-determined growth rate of 14% in April, followed by 13% for May and June.
April Starting Price: $343.50
June Closing Price: $499.56
Centric Rise Cumulative Burn
In Q2, the Centric protocol burned 14.7 million CNR. As of June 30, 2022, the cumulative burn reached 142,273,293 CNR. That’s over 142 MILLION CNR, gone forever—making CNR more scarce. If you’ve been holding CNR, congratulations. Your personal slice of the total supply of the CNR pie has grown.
Feel confused about why CNR is burning or why it matters? Take 2 minutes and watch this video from CEO Joel Clelland.
Centric Wallets
The latest numbers show 57,809 wallets containing Centric, including 35,400 native Centric web wallets.
Other News from Q2
Discontinuing Support for Legacy TRC20 (TRON) CNS & CNR
In May, we announced that after September 1st, Centric Foundation will no longer support any remaining TRON-based CNS and CNR. If you still have some CNS or CNR kicking around on the TRON blockchain, here’s an in-depth blog post with everything you need to know to get those tokens over to the Binance Smart Chain before we sunset support for good.
VIDEO: Webinar & Product Demo with Centric CEO Joel Clelland
If you missed Centric’s live webinars with Joel, not to worry. Here’s a recording. Watch Joel provide basic info on the protocol, how to buy CNS, and how to convert CNS to CNR.
Introducing someone new to Centric? This video provides an excellent introduction to getting started.
Centric Featured on MetaRoy Podcast
Joel sat down with host Prasant Roy of the MetaRoy Podcast to share about Centric’s unique dual token economy.
YouTube Content From Our CEO
Here are some Q2 videos from Joel’s YouTube channel.
High CNS Circulating Supply = High CNR Burn
What does “Synthetic Stable” mean?
Well, that’s a wrap for Q2 of 2022.
As we enter July, Centric celebrates the 2-year anniversary of CNS listing on exchanges. Cheers to the entire Centric community of friends, partners, and HODLers! 🥂
Stay tuned and keep HODLing!
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