Centric launches a dual-token cryptocurrency network designed to tackle the volatility problem that has kept mainstream adoption out of reach for years.
Centric, a dual cryptocurrency payment network, has officially announced its launch in hopes of limiting industry volatility. The project arrives at a time when the broader crypto market continues to grapple with wild price swings that make everyday transactions impractical for ordinary users.
The company has developed a dual token ecosystem, the first being Centric Rise, which steadily increases in price hourly. This will help offer a reliable store of value and an incentive to join the network for users globally. The second token, Centric Cash, is pegged to the first token and will freely trade on major cryptocurrency exchanges. The idea is to separate the speculative element from the transactional one, giving each token a distinct role within the same ecosystem.
The exchange between the two tokens is governed by a decentralized smart contract with immutable price blocks, set one year into the future. In this way, the protocol self-regulates token supply to meet ongoing changes in demand. Users who hold Centric Rise know exactly what their tokens will be worth at any given hour, which creates a level of predictability rarely seen in crypto markets. From a user perspective, Centric is simply a payment network and a reliable store of value.
Volatility has long been the Achilles heel of cryptocurrencies aiming for mainstream adoption. When Bitcoin can drop thousands of dollars in a single afternoon, merchants and consumers alike hesitate to use it for anything beyond speculation. Stablecoins have attempted to solve this by pegging to fiat currencies, but they introduce their own complications, including centralization risks and regulatory scrutiny. Centric takes a different path by using its dual-token structure to internalize price stability within the protocol itself.
Centric CEO Gabriella Davis explains, "We are very excited for the launch of what we believe is game-changing technology in the blockchain industry. With high volatility and low usability, the industry still suffers from adoption challenges. Centric will fix this by using a dual token ecosystem that is both user-friendly and economical from a monetary standpoint."
For the model to work, network adoption needs to grow steadily. The more users who participate, the more robust the self-regulating mechanism becomes. Early adopters benefit from the hourly price increases built into Centric Rise, which creates a natural incentive to join sooner rather than later. Meanwhile, Centric Cash provides the liquidity needed for real-world transactions and exchange trading.
Centric will make its official public launch Q1 2020 and will look to enhance the value of the network through the addition of new products and partners that contribute directly to the transactional volume of the network's currencies. Partnerships with payment processors and merchants will be critical if Centric hopes to move beyond speculative interest and into actual daily use.
To learn more about the Centric project, visit www.joincentric.com
About Centric: Centric is a blockchain-based payment network composed of two distinct tokens which promote stability, an incentive structure for early adopters, and store of value. The exchange between the two tokens is governed by a decentralized smart contract and a self-regulating protocol.
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