CENT Token White Paper
CENT Token is a token that aims to reach a price value of $0.01. Cent Token's price is different from stable cryptocurrencies. The token has a volatile price trend around the target price. It aims to provide ease of transaction to its users by offering high liquidity and high volume.
Problem.
As you know, tokens for projects in various fields can be launched and listed in Hive-Engine. There are many beautiful projects in many fields. We have the opportunity to buy and sell the tokens of these projects. However, these tokens can be valued in a very short time in some periods. Or it could depreciate very quickly. To hedge these fluctuations, we need stable-value cryptocurrencies in the Hive-Engine. Cryptocurrencies such as HBD and USDT can be used for this. However, the liquidity in these cryptocurrencies is extremely low.
Solution.
CENT Token matches offering its users a near stable value cryptocurrency. High liquidity and volume are among the main targets. For this, it increases the usability rate by offering liquidity pools, prize pool, various earning methods and solutions, links with other blockchains, etc. As Cent Token's liquidity increases, its volatility will decrease. Thus, the Hive blockchain will be able to achieve its goal of protecting its users from the price risk of tokens, low liquidity and low volume rates.
Aim.
Offering a high-volume, liquid cryptocurrency for Hive-Engine users, investors and traders is the main goal. It targets high liquidity for small traders and large value investors. To achieve this, it is necessary to create more liquidity pools, make the prize pool available to more users and communicate with other blockchains, etc. is intended.
Token supply policy works to reduce volatility.
Cent had a high liquidity and high volume target when it was created. Therefore, the maximum number of tokens was kept high. Features such as a prize pool, liquidity pools, liquidity provider rewards, links with other blockchains, token burning when necessary required keeping the maximum number of tokens high.
Although there is a target price, the token will lose value in some cases and gain value in other cases. However, some studies can be done to reduce volatility as much as possible. Some of these:
- If the token loses too much value; reduction of distribution quantity, purchasing pressure, buyback etc. Many methods are used.
If the token price rises too much; Increased supply, sales pressure, increased distribution, etc. Many methods are used. - Cent Token will not be sold. Market maker orders are entered at certain levels.
- There will be many incentives to increase the token value and trading volume. Create liquidity pools, create tribal project, support tribal projects, communities, offer staking rewards, etc.
Tribe
Focus area, community and tags.
CENT Token's prize pool is scanning the hashtag "cent". Cent tribe focuses on general content. You can find any content that interests you on the cent tag, on our tribal site, and on the community page. You'll find referral tags on our community page and on the left side of our tribal site. You can find and curate content by going to the tag in your area of interest. If you use the "cent" tag on your posts, you will earn CENT Tokens. If you post from our community page, you'll earn more rewards than posts using the cent tag. Because there are more curators on the community page.
Token supply
As you know, the CENT token is different from other tribal tokens. Although various fluctuations are expected, there is a certain price target. At the same time, we try to increase the liquidity ratio and trading volume as much as possible. For this reason, it differs from other tribal tokens with its token supply, usage areas and earnings targets. Therefore, the token supply in the prize pool will be adjusted regularly to offset depreciation/valuation.
Stake, unstake, reward distribution.
The prize pool has 50% author / 50% curator earnings. As with the Hive distribution, there is a 7-day cooldown. Unstake process is completed in 28 days in 4 installments.
Tribal frontend.
www.centblog.org tribal site enabled. You can use it for content creation, voting operations, controlling voting power, staking, collecting rewards.
liquidity pools;
CENT Token has five liquidity pools. Hive/Cent, Hbd/Cent, Cent/BTC, Cent/Bee, Cent/Leo and Cent/Pob. Liquidity provider rewards are active in all pools. You can access the liquidity pools in the Hive blockchain via the Tribaldex.com site. We will continue to create liquidity pools on the Hive blockchain and other blockchains.
This sounds really cool @anadolu, have you created this token on Hive Engine or you are planning to?
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Hello there. I created it on Hive Engine. I've done a few actions. I sent it to a few users. I created an archive page for the token. You can check: https://peakd.com/cent/@anadolu/cent
Thank you for the promotion.
Sounds great @anadolu, thanks for the clarification. Will check it out. I really like this idea of a stablecoin.
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Your post was promoted by @finguru
Seems a nice token. Will like to know more about the other areas yet to addressed. Also, Who is behind it.
Thank you. I will try to add the information as soon as possible. I created the token. I will support. I think the supporters will increase in time. However, there is no one behind him.
Nice. We'll be looking forward to it.
Ones people see the value, they'll surely hop in on it
I think its a nice idea but I don't know how viable it is on Hive Engine. Since the exchange will be related to HIVE. So this would probably mean you need a way to stabilize prices. It could be profitable and could also be unprofitable depending on what happens.
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Thank you for expressing your thoughts. You are right, price balancing at the first stage will be unprofitable and difficult to generate demand. However, in the later stages, liquidity pools etc. I am thinking of creating. USDT, HBD, BTC etc. I believe it will balance with its pools. I also have different solutions in mind. I will share it as it matures.
Wow that's great @anadolu! I'll use the #cent tag more often, I didn't know it was your creation. Success to you!
Thank you for your comment. However, the token does not have a tribe project yet.
Yay! 🤗
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ME GUSTA LA INICIATIVA, esta genial , con lo de el logo , me anime a crear uno , claro no soy diseñador ni nada , pero lo hice ya que este Token le veo muchas cosas buenas , que te parece algo asi ,
Claro no es que digo que uses este si no que puede ser un modelo
claro tengo otros Modelos pero este me gusto mas , saludos
Hola. Lo encontré bastante exitoso. ¿Pueden enviar el archivo de imagen?
Claro mira aca te dejo algunos modelos que cree, Si vez que quiere un modelo en especifico me dices y te puedo ayudara, me encantaría poder ser parte de Tu Token, me gusta ayudar con esto , espero te gusten , y si quieres otro me dices para hacerlo saludos y éxitos amigo pero te mandare los modelos , Por Peakd por que aca no so por que no los puedo Subir , te escribire al privado por Peakd te veo aya
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People used to say "just my 2 cents".
Now they will say "just my 1 cent". :D
Si. Hay un 50% de descuento😀
Fascinating, how can one stay informed?
Hello there. Its introduction has been made new. Many features are not yet active. If you have any questions, you can ask them here. For many answers, follow the page https://peakd.com/cent/@anadolu/cent. Updates will be shared continuously.
A stable coin on hive sounds like a really good idea
Thank you for your opinion. Yes. It is especially needed when there is volatility.
Great stuff. How had the peg been working? I have seen these. Looks like a great way to store some wealth.
Thank you for your comment and opinion. There is no pegged. Ampl makes a token-like fluctuation. We're just getting started, the volume is a little low but I wait. The liquidity pool has also just been opened.
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That is a good move! Luckily, noticed it earlier. Welcome & Best of Luck!
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Thank you. I really need some luck 🙂
View or trade
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BEER.I am very curious to learn of your proposed methods for holding peg. Any idea when you may be making an announcement on this? No rush, just curious.
Hello there. Thank you for your question. There will be an explanation article for it. But let me talk briefly. CENT is not a fixed price token. It's a bit like AMPL if we need to compare. It's ok to zigzag in the range of 0.0075-0.0125. Of course we want it to converge by $0.01. For this, increasing/decreasing the token supply, increasing/decreasing the rewards for liquidity pools, market maker orders, reducing/expanding the incentive, managing perception etc. Many solutions have been found.
I agree with all of your possible solutions save one. Personally I would not intentionally make changes to the rewards liquidity pool. A downward turn in reward might signal weakness thereby driving stakeholders away from their positions never to return. The Ampleforth scenario of supply manipulation, albeit in its infancy, seems to me the more pragmatic solution of the bunch. Just my two cents....
I'll throw this out to be the devil's advocate. Don't you think a spread of 0.005 is quite a large spread given the diminutive low value of the peg. In fact, peg may be easier to maintain with a smaller spread as you'd be more attentive to daily value....Again, just my two cents.
Of final note, I truly believe you are doing yourself a disservice not hooking up with @amr008. He could provide you with assistance in coming up with financing scenarios. Plus, in my humble opinion, participation sooner than later in his engagement project will direct traffic to the tribe.
I plan on buying some more tokens and staking them later today. Plus, I plan on making my first post on the front end of CENT in the next day or so (I have to finish it already, but keep getting pulled to do other things).
Please just treat all of the above as suggestions or advice. It is in no way critical of where you have taken this this far.
Have a good day!
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For your present internal needs to help get this thing going could you use a delegation of like between 50 to 100 HP?
If so, let me know and I'll do what I can.
Thank you. It would have been necessary before. Because scotbot was managing the distribution accounts. Currently, the smart contract is doing the token distribution. However, I can give you some advice. You can authorize @ecency account. You also get curated rewards daily. You also earn EECNCY points.
I don’t get why would I use it instead of using 0.01HBD though, specially because HBD can bear interest when put into savings. But good luck with the project
Hello there. Thank you for your comment. The choice is yours of course.
Thanks very useful information
Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
Excited about the CENT project, a tribe centered around a stable coin is really interesting. What type of content would be appropriate for the #CENT hashtag?
Hello. Actually, Cent is not a stable cryptocurrency. We are working for the $0.01 price to fluctuate around it. To achieve this, we adjust the token supply, continue to create liquidity pools, etc. The closer we are to the target price, the more successful we are :)
When Tribe started, we were focusing on the economics area. However, very little content is produced in the field of economics. Some days there was no content being produced and our voting power was waiting at 100%. We talked about it. And it has become more focused on general content. You can use the 'cent' tag in your posts. The prize pool is crawling the community page and the 'cent' tag. You can earn more rewards if you post using the frontend or via the Cent community.
https://peakd.com/hive-173575/@anadolu/let-s-exchange-ideas-about
https://peakd.com/hive-173575/@anadolu/cent-kabilesi-nde-odaklanilan-alan
I consider this an interesting insight.