PRESS RELEASE. After two-and-a-half years on the TRON blockchain, cryptocurrency project Centric completed their migration to the Binance Smart Chain (BSC). Centric announced the decision to migrate in May. Later that month, cybersecurity firm iosiro completed an audit of the updated BSC smart contracts. Two days before the migration, Centric added the first BEP-20 Centric Swap (CNS) tokens to the leading BSC decentralized exchange (DEX), PancakeSwap.
“As we completed the audit back in May, some community members wondered why we were waiting until July to make the jump,” said Centric COO Tommy Butcher. “Centric encompasses much more than just a smart contract. We’ve built an entire ecosystem that includes partners. We needed to give our devs time to get everything buttoned up before making the move. Taking the time to do it right paid off, as everything went super smooth,” Butcher said.
The migration began on July 15 and proceeded with minimal disruption. Within twenty-four hours, Centric Swap (CNS) and Centric Rise (CNR) tokens held in the Centric Web Wallet were updated to BSC’s BEP-20 format. For users with tokens in an external wallet, Centric deployed a self-service TRON-to-BSC conversion tool via Centricswap.com.
Post migration, Centric has announced several exciting developments. Their first post-migration partner, decentralized finance (DeFi) project RastaFinance, added CNS to their DEX and liquidity pool. They also added an option to stake RASTA tokens and receive rewards in CNS.
During the migration, Centricswap.com only supported swapping between CNS and CNR tokens using the MetaMask wallet. Today, six additional wallets are supported, including software-based TrustWallet, and hardware favorite SafePal.
Last week, the company announced a CNS integration with the cryptocurrency payment gateway MyCryptoCheckout, allowing ecommerce stores to accept CNS payments with zero transaction fees.
“It’s been an action packed few weeks since the chain jump,” said Butcher. “And this is just the beginning.”
Some exchanges supporting CNS are still integrating BEP-20 CNS. Centric advises users to check their website to see which exchanges are still in migration before attempting to purchase CNS.
Learn more about Centric’s migration to the Binance Smart Chain – https://www.centric.com/2021/07/13/centric-migration-to-bsc-important-information
Read Centric’s BSC migration FAQs –
Centric was conceived with the vision of one day replacing traditional fiat currencies. Blockchain technology will enable a more transparent world and we believe our innovative approach to achieving widespread adoption long-term sets Centric apart from other cryptocurrencies today.
We believe the largest obstacle to the mass adoption of cryptocurrencies is price volatility. Cryptocurrencies, unlike fiat currencies, do not have a central bank to implement monetary policy focused on stabilizing purchasing power. Thus, changes in demand induce massive price fluctuations. The decentralized model to price discovery has made most existing cryptocurrencies nothing more than stocks or commodities, valued on psychology, traded on unregulated stock markets, and susceptible to manipulation. The lack of price stability has prevented credit and debt markets from forming because volatility incurs a premium.
While the rest of the industry focuses on transaction throughput and smart contracts, we focus on solving price stability to realize the economic capabilities that the blockchain enables.