Post
Topic
Board Announcements (Altcoins)
Re: CENTUS - a stablecoin on the Stellar blockchain
by
NeonWolf
on 05/02/2021, 13:56:38 UTC
     ❗ CENTUS PROTOCOL ❗
     We found that CENTUS will maintain its peg in the long term if the token supply adjusts as the token price changes. How does the CENTUS protocol measure the price of a token? How does this regulate the offer?
     The answers to these questions can be found in the CENTUS protocol specification below. For a better understanding, the protocol can be considered to have all the technical properties of a traditional cryptocurrency such as Bitcoin (BTC) and the following additional functions:
     ✅ The protocol defines the target asset for stabilization. For CENTUS, it's a US cent. The protocol then determines the target rate of CENTUS to the target asset - USD 0.01 per 1 CENTUS.
     ✅ Smart contract monitors exchange rates to measure prices. The smart contract receives the source of the CENTUS-USD exchange rate through the oracle system. This can be done in a decentralized way, which we will discuss later.
     ✅ Smart contract increases or decreases the supply of CENTUS tokens in response to exchange rate deviations from the peg.
     ✅ The smart contract distributes seigniorage among all existing CENTUS owners during periods of increasing supply.
     ✅ If CENTUS is traded for more than $ 0.01, the smart contract creates and distributes new CENTUS through seigniorage. These CENTUS are determined by the established protocol priority for the owners of BILLEX tokens and DBC tokens.
     ✅ If CENTUS is traded for less than $ 0.01, the smart contract creates and sells BILLEX tokens in an open auction to withdraw the coins from circulation.
     BILLEX tokens cost less than 1 CENTUS and they can be redeemed for exactly 1 CENTUS when CENTUS is created to increase the supply. This encourages CENTUS holders to participate in the sale of BILLEX and thereby reduce the CENTUS offer in exchange for the potential future payment of BILLEX tokens.