Centric Burn 67 Million CNR Token
Centric Rise (CNR) is a deflationary currency traded across the Centric payment network. Each unit of Centric Rise is pegged to trade at an agreed price denominated in USD which is enforced by the protocol at the point of exchange. The Centric Rise token is governed by the Centric Rise smart contract
Recently, Centric Team have announced that a total of 67 million $CNR token being burned. Every hour the price of CNR increases as governed by the price blocks, the excess CNR as calculated by the protocol is burned from CNR held in quarantine.
A coin burn is a process of sending a certain amount of cryptocurrency to a public address that private keys are unobtainable. Sent coins in the future can’t be spent, thus coin burn leads to an overall decrease in the amount of cryptocurrency involved in circulation.
About Centric
Centric is an innovative dual-token digital currency and decentralized blockchain protocol built on sound economics. Centric’s dual-token model rewards adoption and stabilizes over time as it self-regulates token supply to meet ongoing changes in demand.
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