Hello again dear Cent community. Almost two months have passed since the last post about the project. It's time to publish a new report. We haven't made any changes to the prize pool for a long time. In addition, the quarterly reward distribution process in the liquidity pools is about to be completed. Spam, irrelevant posts, etc. We have disabled the community page because of this. There are current statuses on the community page.
We've had a bear season since the start of last year. We started to observe bottom formations in the price charts of cryptocurrencies such as Bitcoin and Ethereum. This positive situation was not fully reflected in other altcoins. However, the prospects for the upcoming period are very positive. Hive-engine Tokens were also greatly affected by the bear season I mentioned. Cent Token withstood sales pressure in the first six months. Cent's liquidity pools gave a good test in reducing selling pressure. However, Cent has lost a lot of value over the past six months. The target price value has been far too far away. We have made some changes in order to contribute to the development of the project and the achievement of the targeted value of the Token. I wanted to share some of these changes with you.
The prize pool generates 4 Cents per minute. This translates to an average of 120% APR for Cent curators who regularly vote. (Current situation. The APR rate will change according to the number of tokens powered up/Power down.) We will make Cent staking more attractive in the coming period. At the beginning of the bear season, an adjustment was made to stake 50% of Cent rewards. We reverted this setting. All of the incoming Cent rewards will now reach your wallet in liquid form.
Reward distribution continues in liquidity pools. The distribution process has ended in the Hbd/Cent liquidity pool. In approximately ten days, the LP reward distribution will end in the Leo and Pob pools. The reward distribution will continue for another forty days in the Hive/Cent pool. We will not be renewing liquidity provider rewards other than the Hive/Cent and Cent/CentG liquidity pool for a while. Liquidity providers will continue to charge the 0.25% transaction fee. There are several reasons for this strategy change:
- As mentioned above, we will create more incentives for staking Cent. We also need to save money for replacing Cent's front end.
- Liquidity pools prevented Cent's further depreciation during the bear season. However, when a price movement towards the target value starts, they will start to create a barrier.
- To increase the trading volume in the market. Cent's trading volume in the last 24 hours is approximately $225. $210 of this volume was realized in liquidity pools. We want to shift the trading volume to the market as much as possible.
Cent's community page has been reactivated. Preventing spam, reducing content created with artificial intelligence, etc. Our struggle continues. We continue to work to make the community more active. There will be more support for curators in the community.
Cent's Discord channel is active. There is much to be developed. However, we have taken the first step. You can use the link below to join the Discord channel. https://discord.gg/fJMMUYfM5W
We shared a promotional article about CentG in September and announced the start of token sales. No CentG sales took place. However, we started using the Token. CentG distribution continues as a reward in liquidity pools. We will also share the announcement of a different usage area in the coming days. We will continue to use the token actively so that the Cent reaches the targeted value.
Please share your opinions and suggestions on the subject. See you in new posts. Don't forget to follow @centtoken account.
