Date and Time of AMA – July 28, 2020 at 10:00 KST
Guests from the Centric Foundation – CEO Gabriella Davis (@GabriellaDavis)
AMA Completed on ProBit Community Telegram – https://t.me/ProbitEnglish
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Date and Time of AMA – July 28, 2020 at 10:00 KST
Guests from the Centric Foundation – CEO Gabriella Davis (@GabriellaDavis)
AMA Completed on ProBit Community Telegram – https://t.me/ProbitEnglish
Daniel:
Good morning everyone and welcome to the Centric AMA. We’ll kick things off by introducing our Centric guest @gabrielladavis.
Please take a few minutes to introduce yourselves and Centric to our community.
Gabriella D:
Hi everyone.
I’m Gabriella, CEO of Centric. Happy to be here.
Thanks, Daniel for the intro.
Daniel:
A pleasure to have you here Gabriella.
Can you give our community a brief rundown of Centric for those who aren’t aware?
Gabriella D:
Of course.
The fully decentralized Centric protocol regulates the Centric dual token economy, the foundation sets the $CNR price yearly in advance, the market values the ecosystem trading $CNS which provides on-demand liquidity to $CNR holders.
• Centric Rise Price increases every hour.
• The more Centric Cash minted the faster Centric Rise burns.
• The number of Centric Rise in circulation can only reduce.
As the Centric Rise price increases, the excess $CNR held by the Centric protocol is burned, reducing the supply.
Centric is a blockchain-based payment network composed of two distinct tokens that promote stability, an incentive structure for early adopters, and a store of value. The exchange between the two tokens is governed by a decentralized smart contract and a self-regulating protocol.
Now, in other words…. Centric is a next-generation global currency.
P.S. – I have a YouTube video dropping after this AMA, so be sure to head over to our Centric Telegram channel, be sure to check it out.
Daniel:
Looking forward to that video! Alright, let’s go ahead and open up the floor for questions.
Go ahead and post your questions, the 5 selected by Gabriella will receive 1000 CNS.
Ok, let’s give some time for Gabriella to browse your questions.
Q1 from GemSpecialist:
Do you have any plans to shift from the Tron wallet blockchain to your own blockchain in the future?
Gabriella D:
Yes, we have plans in the future to develop and deploy a native Centric blockchain solution.
Q2 from Emi:
Why did you choose the Tron network and not the ERC-20? From your point of view, what are the great advantages of the Tron network?
Gabriella D:
We wanted to focus on user experience and cost of the transaction, the smart contract verification and speed of confirmations in our opinion are much better on the Tron network.
Q3 from Amsheim:
What are the two ways centric rise is burned?
How will centric incentivize stability and adoption?
Gabriella D:
Utility partners like moolah.bet have agreed to burn a % of CNR that transacts through their system. This is unique and negotiated with partners individually.
The excess value in the protocol is burned each hour as the $CNR price increases.
Q4 from Kath:
What do you think are the main obstacles to mass adoption? How does Centric solve those issues?
Gabriella D:
Volatility. A key difference between Centric and other digital currencies like Bitcoin is there is no single entity invested in the development of the ecosystem, no entity to support partners and grow of the network as a payment system. With Centric, the Centric Foundation has 25% of CNR supply time-locked to devote to growing the network and supporting merchants in the ecosystem.
Q5 from Luis Torres:
In the Centric system, how does Centric Cash link to Centric Rise to constantly
increase its value and reach stability?
Gabriella D:
Demand for Centric Cash balances the supply of Centric Rise. When the supply of Centric Cash increases the supply of Centric Rise decreases through our decentralized token burn mechanism. This will continue to happen until the price of CNS hits $1 USD. At that point, the ecosystem will be in equilibrium and the burning of Centric Rise will slow. If it moves away from this again, the burning of Centric Rise will kick back in.
Daniel:
Congrats to those of you whose questions were selected!
Now we’ll move on to the quiz for another shot at CNS rewards!
5 questions, 1st to answer gets 1,000 CNS. Here we go!
Daniel:
Q1. What are the 3 characteristics of Centric rise?
@CryptoCoin_hodler
A. Predictable, Immutable, Deflationary
Daniel:
Q2. What is Centric Cash?
@Vlad_silver
A. Centric Cash is a cryptocurrency that has been pegged at $1 USD worth of Centric Rise token. It will trade on leading exchanges around the world and acts primarily as an on/off-ramp to the Centric Network.
Daniel:
Q3. What is the link of the Centric page to swap CNR to CNS?
@Vlad_silver
Daniel:
Q4. How is Centric Rise deflationary?
@Bitcoin_User24
A. The units of Centric Rise decrease overtime.
Daniel:
Q5. Which Blockchain is Centric based on?
@CelineDee
A.Tron
Daniel:
That wraps up the quiz and the AMA, thanks to everyone for joining and a special thank you to our guest Gabriella from Centric.
Centric Swap (CNS) is available at the following exchanges.
Decentralized
Multi-chain DEx
Decentralized
CNS/BNB
For more information read the getting started guide.
