Hello again dear Cent Community. We haven't shared data for about a month. In the previous announcement, we mentioned that we will share reports and statistics monthly. In this post, we will talk about the current status of Cent's prize pool. We will present the token data. And we will talk about current liquidity and reward ratios in liquidity pools.
Cent's Prize pool generates 5760 tokens per day, 4 per minute. The tokens produced by the prize pool are distributed as author rewards and 50% curator rewards. All generated tokens are paid in liquid form. If you produce content on the Cent Community or Cent's front end, you will not be affected by the 10% author reward deduction.
There are 6,036,039 CENTs in circulation. 51% of circulating tokens are staked. Approximately 340,000 Cents were added to liquidity pools to be distributed to liquidity providers. Approximately 2,150,000 Cent has been added to the liquidity pools. The remaining tokens may be in users' wallets. Or it is entered as a limit order in the Hive/Cent market.
628 of CentG tokens have been added to liquidity pools. 140 CentG is waiting to be distributed as liquidity provider reward in Cent/CentG liquidity pool and 16 CentG in Hive/Cent pool. There are 1000 CentG tokens in total. And it's all in circulation.
There is 4434 Hive worth of liquidity in the Hive/Cent liquidity pool. The current APR in the pool is 77%. There is +1% APR if you have held liquidity for 30 days or more.
The Cent/CentG liquidity pool has 13053 Hive worth of liquidity. The current APR rate in the pool is 78%.
The liquidity provider reward is not yet distributed in other liquidity pools. However, you can earn 0.25% transaction fee from clearing transactions in all liquidity pools. You can examine the current data in other liquidity pools from the image below.
- As a result;
As mentioned earlier, we see the CentG token as the backbone of the project. It was also mentioned in recent announcements; We added new usage areas for CentG. There are 156 CentG tokens to be distributed in Hive/Cent and Cent/CentG liquidity pools. Rather than selling tokens, we found it more appropriate to use liquidity pools for the benefit of the first users who trust the project. We've slightly reduced the distribution supply through Cent's prize pool. Reward distribution rates in liquidity pools, etc. We will increase the buying pressure by taking advantage of the factors. We are restricting the distribution of Cent as a liquidity provider reward as time goes on. We started to increase the variety of tokens in rewards distributed to liquidity providers. Especially for HBD, USDT, BTC etc. We will add more hive-engine tokens as rewards.
Follow @centtoken for new announcements and events.
Is there anything going on towards returning it to a 1 cent peg or is that the furthest thing from the mind right now?
Yeah, I have the same question. I don't see any mechanism to buy back CENT (like LEO) or burn CENT like other tokens to bring back CENT to the peg valie. Actually, it's still a loss for early CENT investors who trusted in CENT.
This is an interesting situation. Because even when Cent was higher than $0.01, there was no announcement that Cent was pegged at $0.01. Nor did we claim that Cent is a stable cryptocurrency. Unlike other tribal tokens, Cent has a price target.
"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."
https://peakd.com/leofinance/@anadolu/cent-token
We continue to develop the project to ensure it reaches its price target. That's why we created liquidity pools. We actively manage the prize pool.
Also, thank you for sharing your thoughts and comments.
Cent was not peged into any currency. Or not supported by any currency. However, there is a target to reach $0.01. Please read the white paper and announcements.
https://peakd.com/hive-173575/@anadolu/update-cent-s-price-has
https://peakd.com/leofinance/@anadolu/cent-token
In addition, strategies in the prize pool and liquidity pools are developed to reach the targeted price. We continue to develop the project so that it reaches the targeted price.
More power to the $Cent community and its tokens!
Thanks for sharing your thoughts. Also thank you for your support.
You're welcome.
It is impressive to see the performance of the CENT token despite this bear run. Thank you @Anadolu for being so responsive for the growth of this community. The future looks bigger.
Thanks for your comment. We continue to use various tools to help Cent reach the target price.
I didn't try out these LPs yet. Must take a look with that APR!
Hello. I added a large amount of liquidity to the Cent/CentG liquidity pool. I add as I earn/buy new coins. I intend to hold it until the end of this distribution period.
Thanks for the update
Thank you for the update. Pepe likes receiving $CENT tokens. :)
Thanks :) There are only a few meme tokens that we like. PEPE is one of them.
Welcome. Happy to hear that. 🐸