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Centric Rise Questions

Centric Rise (CNR) is a deflationary cryptocurrency that increases slowly in value each hour.

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

Some unique features of the Centric Rise token include:

  • Burn – Critical to the deflationary economic model, tokens are burned out of circulation reducing overall supply each hour.
  • Price Blocks – The Centric Foundation sets the hourly growth rate of Centric Rise via immutable price blocks programmed on the blockchain up to a year in advance. In setting future growth, the Centric Foundation considers network stability, adoption, and several other core metrics. In the early stages of development, the Centric Foundation has set an aggressive growth rate to incentivize investment and network adoption.
  • Convert – Users may convert at will between Centric Rise & Centric Swap tokens.
  • Send & Receive – Centric Rise offers a stable form of payment to anyone on the planet with transaction settlement in seconds.
  • Limited Supply – Max supply 1,000,000,000 (1 Billion) tokens

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

Burning Centric Rise is an important part of the Centric economic model. There are currently two ways Centric Rise is burnt. 

Centric Rise Contract In order to mint Centric Swap, Centric Rise tokens are held in quarantine as a security. As each hour passes, a percentage of the quarantined Centric Rise is burnt, equal to the % hourly change in the price of Centric Rise.

Partners & Third Party platforms  When you use or perform certain actions through Centric partners, such as dApps and other third party platforms, a small amount of Centric Rise is burnt from the max supply. Centric Foundation negotiates the terms with partners in order to add additional value to the Centric network over time.

View burn history here

Initially, Centric Foundation minted one billion CNR tokens. These units of Centric Rise decrease over time. The business models of some of the layer 2 solutions burn Centric Rise. Over time, this burn will reduce the supply, creating scarcity.

The Centric Foundation tracks a large amount of analytical data and uses this in combination with future forecasting to predict the adoption and growth of the Centric network. Over time, we slowly reduce the incentive (monthly growth rate) to join the network, ensuring the sustainability of the Centric project long term. Important to this approach is the ongoing development and adoption of Centric Rise, ultimately leading to its usability as a global currency.

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

Yes with the exception of the following Countries where cryptocurrencies are illegal; All other countries are currently legal to buy, trade and hold cryptocurrencies.

No. The Centric Rise contract forbids the creation of new CNR. Additionally, creating new CNR would undermine the ecosystem we established over the past few years.

No. The Centric Rise contract enforces a continually increasing price. Additionally, resetting the price would undermine the ecosystem we established over the past few years.

A holder of Centric Rise can use the convert function in the Centric Rise contract to convert to Centric Swap tokens, allowing them to trade them on exchanges at market price. The conversion can be initiated within the Centric Wallet, or if using a compatible BEP-20 wallet, through Centric Swap

Centric Swap is permanently pegged at a $1 USD in the Centric Rise contract. Here’s a basic example of how this works:

Let’s say you have 10 Centric Rise tokens valued at $10 each, totaling $100 USD, and you wish to convert to Centric Swap

$100 / $1 = 100 Centric Swap Tokens.

It’s important to understand that the pegged value isn’t a representation of the market discovery value (what you could sell it for). 

For example, if the Centric Swap token is trading for 20 cents, you could sell your 100 Centric Swap tokens for $20.

The Centric Foundation has no intention of listing Centric Rise on exchanges. Given the decentralized status of Centric Rise, it is possible a decentralized exchange could list Centric Rise. The Centric Foundation, however, will not support or promote any such exchange listings. 

Centric Swap, on the other hand, is listed on several exchanges.

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

The safest and best way to obtain Centric Rise is to first purchase Centric Swap (CNS) from a leading exchange, then send the CNS to the Centric Wallet or a compatible BEP-20 wallet, and convert to Centric Rise.

For information on where to buy CNS so you can convert it to CNR read the guide.

If you are wishing to sell Centric Rise, the safest and best way is to convert to Centric Swap and sell it on a supported exchange.

For information on supported exchanges read the guide.

Centric Rise is in the very early stages of development. Although the token’s value always increases, investors should be aware that Centric Swap price volatility can cause a devaluing of the Centric Network. The easiest way to understand this is when Centric Swap is trading at $1 the market values Centric Rise at 100%. If Centric Swap is trading at 80 cents then there is an implied 20% discount on Centric Rise tokens. This slows selling and creates a 20% bonus for buyers looking to join the Centric Rise network.

It’s reasonable to expect it will take the Centric Foundation years to stabilize the Centric Network.

Related resources

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