CENNZ AMA: The mainnet and pledge for mining of CENNZ
At 16:00(UTC+8) on September 1st, the CENNZ AMA organized by ZB.com was successfully held. This AMA invited Aaron McDonald, CEO of CENNZnet, to share the mainnet and pledge for mining of CENNZ, in the ZB English telegram group.
The following is the content of the AMA:
Host: Hi everyone! Nice to meet you all! I am Journey, ZB VIP Customer Director of ZB.com. Hope you are all safe and sound at home. Recently, ZB listed CENNZ(token of CENNZnet chain), and today ZB just opens CENNZ/QC trading pair. CENNZ has been performed strongly since it was listed on ZB Yesterday 19:00(UTC+8), CENNZ’s price was about 0.092USDT, rise up to 49.26%. And now(15:00,HongKong time) CENNZ is reported at 0.0988USDT, up 42.16% in the past 24 hours.
CENNZnet is a blockchain platform used to build the DApp ecosystem, and CENNZ is the token of the platform to fuel the CENNZnet ecosystem. ZB announced yesterday that the CENNZ Trading Contest will open today, during which CENNZ transaction users will have the opportunity to divide up 200,000 CENNZ awards.
Today, we are honored to invite Aaron McDonald, CEO of CENNZnet to share information of the project, and maybe share some bullish development trends. Now please welcome our guest to make a self-intro.
Guest: So thanks for the invite i am really glad to be here to talk to new members of our community, I am currently in Auckland New Zealand where i live and where centrality is based. I am really passionate about how technology can help change the world and we have a really awesome team here in NZ and around the world. I founded Centrality around 4 years ago now and we have been really focused on building technology that helps blockchain become adopted by the mass market.
We have a team here of around 50 people mostly technology people and we have around 30 different venture companies in our ecosystem around the world. Our team was able to see very early on with blockchain that many projects would fail because they did not think hard enough about usability and so we decided very early to focus our attention on this because in the end this is the only way to increase adoption.
CENNZnet has been developed specifically with usability in mind and that’s why we have some of the fastest growing and most active DApps in the world already and we only just launched. Along with our awesome tech we have been very focused on building out sustainable business models with real partnerships with large brands around the world.
Its important that you have both usability and utility without these your project will never be successful. So we have focused on building high quality partnerships which help us reach new users and new markets.
Host: Since some of our community friends don’t know the project, could you give a brief introduction?
Guest：CENNZnet is a Proof of Stake based blockchain network, it has a number of unique features built into the core to optimize it for consumer facing applications. These features include our patented doughnuts protocol , a decentralized cookie which helps developers build application experiences similar to centralized apps in the user experience but using blockchain technology.
We have designed the network and token economics to allow developers to easily predict fees so that they can design new fee models with users like premium DApps for example or subscription based DApps. The CENNZ token is used for staking and securing the network as well as for governance of the network DAO.
The CPAY token is used to pay block rewards and to pay GAS on the network. CPAY is designed to be algorithmically stable so that developers and users can preduce fees easily in their business model. The current fee structure of many networks will not be suitable for mass adoption by either developers or users.
Imagine if the cost of your Netflix subscription went up every time the price of the share went up. On top of this we have designed our built in on chain DEX so that developers and onboard users in and pay GAS in their native DApp token, again this massively helps with the user experience because new users don’t have to learn about staking or GAS in order to use a DApp. We have many other cool features which you can check out on our website.
1）Host: Lets enter the Q&A section. When will CENNZ staking be launched? What is the initial annualized yield based on the CENNZ token standard?
Guest: We recently launched our mainnet and are now focusing on the move to public staking so that our token holders will be able to transfer their tokens into the network and start earning real block rewards. That’s huge, as many of our loyal community have been with us from the beginning and we want them to be rewarded.
Once the token swap is complete, we will move on to the next phase of our roadmap, which includes federated staking.
Yield in our network is designed to increase yield with network activity so the more active the network is the higher the yield per CENNZ would be.
2）Host: Does CENNZ have a plan for listing in a new exchange? Can you disclose it in advance?
Guest: We are working with exchange partners to increase the number of exchanges that the token is listed with however all exchanges forbid talking about the listing before official dates so please stay tuned to our channels for more information on this.
3）Host: The price of CENNZ has been maintained around $0.05 for a long time. What does Centrality company think of the price?
I am not sure that this is an accurate reflection of the current market. As you can already see we are early days into a big move). But having said that if you compare the fundamentals of CENNZ, our technology, our network activity, the number of real partners and quality of those partners with other projects you can see there is allot of opportunity for the CENNZ token to grow. We think that the launch of our main net and the migration of our ERC20 token to the main net will be a very important point for the market to realize how good we are. When we start to publish the activity of our DApps and you compare that to some top 30 projects those projects are going to look quite silly compared.
In the end though the value of the token is relative to the community action, so we need your help to make us all successful. We know we have some super fans and we want to help more people understand how good we are so that we grow our community together.
4）Host: DeFi and liquidity mining are now very popular. Besides staking mining, does the company have any other plans for new products?
Guest: Yes this is a hot area of the market right now. Its important though not to just follow the fad or trend of the moment we have been around for more than 4 years and have been here in good and in bad times. So we build for the future. But in this case yes we have some very exciting projects in this space, some are a world first which we will announce in September.
The other exciting thing is once we move the network to public staking anyone in our community can start to build their own DeFi DApps on the CENNZnet. We have some very interesting and unique features which will enable developers to build new more powerful more user friendly and more private DeFi DApps.
Such as our doughnuts protocol which allows you to create off-chain smart contracts that the chain will enforce at the time of settlement this can help prevent issues with privacy and front running.
5）Host: Will CENNZ have a burning mechanism?
Guest: No CENNZ does not need a burning mechanism as its a staking asset for network security but we have a block reward token CPAY which does have a burning mechanism.
6）Host: Does the lock-up mining need to go through CENNZnet, or through the cooperation with exchange to allow users to participate?
Guest: The transition from the ERC20 token happens with a deposit to the smart contract this can be done individually or an exchange can choose to manage this process on behalf of their users, this is up to each exchange to decide.
7）Host: When does CENNZ plan to officially launch the mainnet?
Guest: The Azalea network launched in June and we successfully upgraded more than 300,000 Sylo users. Our next phase is to enable the token swap and staking from that we will upgrade the network to community controlled governance!
Because CENNZnet is up gradable we don’t need to fork or re-launch we keep upgrading smoothly with our community.
8）Host: What is the current planning for the project?
Guest: We’re now in the 4th phase of our road map, which includes:
1. Doughnut advanced permission
2. CENNZ ERC20 tokens transfer to CENNZnet
3. Federated Staking
Our transition wallet is now open so that tokens holders can swap their ERC20 tokens to CENNZnet mainnet tokens, ready for federated staking later in the year. This is exciting for token holders as it will mean that they can stake their tokens to earn CPAY rewards.
Now that we have finished many of the technology components over the last 2 years Our future is very focused on increasing our already large and growing active network user base and increasing our community and token liquidity.
9）Host: CENNZ is still not that popular. How do you plan to let everyone know it well?
Guest: The funny thing is, when people hear about our project, the work that we have done and the partnerships that we have they always surprised and ask “why don’t more people know about you”? “why is the price so low”.
We already have a strong and loyal following in Japan and are now working aggressively to grow this community throughout Asia, the US and Europe.
We don’t promote false partnerships or hype up our tech unless it genuinely deserves it — and you will see that it does. Many projects talk allot before they do anything, we are serious about action and results and then we talk. As you will see now we are amplifying our efforts to talk about all the cool stuff we have done and there will be plenty more good announcements soon.
The great news is that new token holders are still able to join us before the world knows the true potential of our ecosystem.
We are here right now working on growing our community with you now too.