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

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

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

Centric Swap is minted in exchange for Centric Rise (CNR). The number of circulating Centric Swap 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 Swap tokens in circulation equals the USD value of Centric Rise held in quarantine, ensuring one Centric Swap 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 Swap is elastic per the Centric protocol. Any time Centric Swap 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 Swap token in circulation can be redeemed for $1 USD of Centric Rise. 

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

When a holder of Centric Rise converts to Centric Swap (through the convert function on the Centric Rise smart contract) new Centric Swap 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 Swap to convert to Centric Rise at a fixed $1 USD value per Centric Swap token. Once converted to Centric Rise, the Centric Swap is removed (or “burnt”), reducing the circulating supply of Centric Swap.

Unlike other popular stable cryptocurrencies that hold traditional fiat currencies as collateral, Centric Swap 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 Swap. Once the market capitalization of Centric Swap is equal to Centric Rise we will have a synthetic stable token.

Yes. You can view the Centric Protocol Smart Contract audit here. 

Pegging Centric Swap 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 official BEP-20 smart contract address of Centric Swap is 0xF6Cb4ad242BaB681EfFc5dE40f7c8FF921a12d63

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 Swap (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 Swap is subject to potential market price volatility and flash crashes. Centric Swap 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 BEP-20 compatible wallet may convert between tokens using the fully decentralized Centric Swap.