The story surrounding digital currencies like Bitcoin and Ethereum has been one of volatility. This volatility has birthed a new generation of millionaires, but it has also caused some investors to lose everything. When you consider this disparity, it almost seems unjust to call Bitcoin and other tokens like it’s a “currency.”
In order for a currency to be successful, it needs stability, acceptance, and widespread use. When we weigh these 3 variables against the current digital currency market, we realize that there seems to be a conflict of interest. To establish a global, decentralized, digital currency we need to solve the volatility problem.
For Centric, a dual cryptocurrency payment network, the volatility problem may already have a solution. Centric hopes to one day establish itself as the first digital currency that brings financial freedom to areas that do not have access to traditional banking.
To accomplish this, Centric has developed a dual token ecosystem. This means that Centric is not just one digital currency, but rather two digital currencies. The first token is Centric Rise and the second is Centric Cash. By using web 3.0 technologies and following preset guidelines, the relationship between the two tokens creates a healthy, non-volatile trading environment.
The relationship begins with Centric Cash, a token that is publicly traded on coin exchanges for fiat currencies. Centric Rise is the second token and it can only be obtained by exchanging Centric Cash into Centric Rise. The value of Centric Rise has steadily increased each hour for the last two years because it operates on a deflationary principle of supply and demand (supply diminishes, demand is constant or rises).
The rate at which Centric Rise grows is set one year in advance by the Centric team; this growth rate is not changeable anytime thereafter. However, the answer to volatility comes from the behavior of Centric Cash.
Centric Cash has a publicly-traded price target of $1.00 and the nature of the market helps to keep it there. When Centric Cash falls below $1.00,
there is an incentive to buy in and convert Centric Cash into Centric Rise. When Centric Cash is above $1.00, there is an incentive to liquidate Centric Rise into Centric Cash and sell.
By using a dual currency system, Centric has established a digital payment network that reliably stores value, incentivizes adoption, and isn’t volatile. The following is a statement made by Centric CEO, Gabriella Davis:
Centric has made its official public launch in Q1 2020 and it hopes to enhance the value of its network through new products and partners that directly influence the utility and transactional volume of the two tokens.
For more information about the Centric project, you can visit its website here: www.centric.com
Centric is a web 3.0-based payment network composed of two digital tokens that promote stability, incentivize structure for early adopters, and safely store value. The exchange between the two tokens is governed by a decentralized smart contract and a self-regulating protocol.