My understanding was the CENT is a asset-backed stablecoin, with one CENT backed by $0.01. Is this not valid anymore? Or was I with a wrong understanding from the very beginning?
You are viewing a single comment's thread from:
My understanding was the CENT is a asset-backed stablecoin, with one CENT backed by $0.01. Is this not valid anymore? Or was I with a wrong understanding from the very beginning?
Cent is not pegged or backed by any currency. However, there is a target to reach $0.01. In other words, strategies in the prize pool and liquidity pools are developed accordingly. However, Cent Token was heavily hit by last fall's crash and its value has plummeted. You can view the related content from the links below.
https://peakd.com/hive-173575/@anadolu/update-cent-s-price-has
https://peakd.com/leofinance/@anadolu/cent-token