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Frequently asked questions

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Centric Cash Questions

Centric Cash (CNS) is a cryptocurrency pegged at $1 USD worth of Centric Rise (CNR). Centric Cash trades on exchanges and acts primarily as an on/off-ramp to the Centric Network. 

To better understand the role of Centric Cash in the Centric economy, we suggest reviewing our Learn the basics of Centric page. 

To find the quantity of Centric Cash tokens currently in circulation and other up-to-date token metrics, please view the Key Metrics.

Centric Cash is minted in exchange for Centric Rise (CNR). The number of circulating Centric Cash tokens depends on the number of Centric RIse tokens held in quarantine as a security on the Centric Rise smart contract.

The number of Centric Cash tokens in circulation equals the USD value of Centric Rise held in quarantine, ensuring one Centric Cash token can always be redeemed for $1 USD of Centric Rise. 

Each hour Centric Rise tokens are burnt in accordance with the above rule to ensure the stability of the network.

The maximum supply of Centric Cash is elastic per the Centric protocol. Any time Centric Cash is minted, the protocol requires that the converted Centric Rise be held as a security on the Centric Rise smart contract. This ensures that each Centric Cash token in circulation can be redeemed for $1 USD of Centric Rise. 

The maximum supply of Centric Cash is therefore based on the current value of Centric Rise.

When a holder of Centric Rise converts to Centric Cash (through the convert function on the Centric Rise smart contract) new Centric Cash tokens are minted and sent to the holder. 

The converted Centric Rise tokens are then held in quarantine as a security on the Centric Rise smart contract. 

The Centric Rise Smart Contract allows holders of Centric Cash to convert to Centric Rise at a fixed $1 USD value per Centric Cash token. Once converted to Centric Rise, the Centric Cash is removed (or “burnt”), reducing the circulating supply of Centric Cash.

Unlike other popular stable cryptocurrencies that hold traditional fiat currencies as collateral, Centric Cash uses another cryptocurrency as collateral, reducing the number of counterparty risks.

Over time, the Centric protocol works to burn the supply of Centric Rise to match the market capitalization of Centric Cash. Once the market capitalization of Centric Cash is equal to Centric Rise we will have a synthetic stable token.

Yes. You can view the Centric Protocol Smart Contract audit here. We have also opened the code, which can be viewed here.

Pegging Centric Cash to $1 USD creates a stable floor and allows us to burn excess Centric Rise hourly, thus reducing the circulating supply of Centric Rise over time.

The Centric project does not offer a referral program directly. However, independent projects operating on top of the Centric Network may offer referral programs.

You can buy Centric Cash (CNS) directly from a trusted exchange. You can find the current list of trusted exchanges offering CNS in our Getting Started Guide.

You can sell CNS through a trusted exchange. You can find the current list of trusted exchanges where you can sell CNS in our Getting Started Guide.

Like most new tokens, Centric Cash is subject to potential market price volatility and flash crashes. Centric Cash could be highly volatile in the early stages of establishing the Centric Network.

No, you are able to access the convert function outside of the Centric Wallet as it’s a publicly accessible function on the Centric Rise smart contract.

Users holding the Centric in another TRC-20 compatible wallet may convert between tokens using the fully decentralized Centric Swap.

Related resources

Centric Swap - Convert between Centric Cash (CNS) & Centric Rise (CNR)
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