September 3, 2023 — CENTUS, the first stablecoin based on seigniorage basic income, has announced a 50% bonus for all CENTUS holders on standard wallets.
The bonus will be distributed in the form of BONUS tokens, equivalent to 50% of the CENTUS token balance on the wallet.
Holders can withdraw the bonus in 10% increments per month, converted into BINCOME tokens in U.S. dollar equivalent.
For example, if a holder receives a bonus of $100 USD, they will be able to withdraw 10 USD in BINCOME tokens monthly, converted at the exchange rate on the day of bonus conversion.
To withdraw 100% of the bonus, CENTUS tokens must remain on the wallet until the end of BONUS conversion. If CENTUS tokens are sold, the full amount of BONUS will not be able to be converted, and only a proportional portion of the bonus can be converted.
Seigniorage and basic income can be withdrawn without restrictions.
CENTUS is also offering a 50% bonus to all new CENTUS buyers on UniSwap or on the Centus website.
To receive the bonus, new buyers must fill out a special form on the Centus website.
The company said the bonus is part of its strategy to encourage community growth and engagement.
CENTUS Stable Cent is an algorithmic stablecoin pegged to the US dollar.
Being an algorithmic stablecoin means that its price is maintained by an algorithm rather than reserves. The algorithm takes into account various factors, such as supply and demand, to keep the Stable Cent’s price at $0.01 USD.
CENTUS Stable Cent is backed by assets from Centus, such as CENTUS tokens and stablecoins. When there is an increased demand for Stable Cent, CENTUS uses these assets to purchase Stable Cent and support its price. Conversely, when the demand for Stable Cent decreases, CENTUS sells Stable Cent to restore its price.
About BINCOME Token:
The Basic Income token, BINCOME, is designed to provide a universal basic income to all CENTUS holders while also rewarding their contributions to the activities of the Basic Income Foundation.
The exchange rate of the BINCOME token is equal to or greater than 100 CENTUS ≈ 1 USD.
