Seigniorage style Stable Cent (CENTUS) is a stablecoin that implements an algorithmically governed approach to expanding and contracting a stablecoin’s money supply. 100 US Stable Cent (CENTUS) ≈ 1 US Dollar Bill (USD).
By allowing participants to buy and sell CENTUS, smart contract acts as a market maker. To buy CENTUS tokens, participants send funds to Smart Contract, where they are kept as a variable reserve. The primary purpose of CENTUS reserve is to ensure participants ability to sell CENTUS; the contract will always offer to buy CENTUS, drawing on funds from the reserve.
Twice a week, as soon as new participants buy CENTUS, the smart contract mints new CENTUS and distributes them among existing CENTUS holders on a pro rata basis depending on market demand.
Token type: Stellar Blockchain
Registered Company: CLOUD INVEST Ltd, A UK registered Company (No. 11561352)