CENNZ is one of the native tokens of the CENNZnet network. CENNZnet is a public blockchain and decentralized application (DApp) platform built by Centrality, a New Zealand-based company, featuring a unique dual-token economic system in its design.

1. Dual-Token Economic Model: CENNZ and CPAY

The core economic model of CENNZnet consists of two tokens: CENNZ and CPAY. They have distinct roles:

  • CENNZ: Primarily used for network staking (Proof of Stake) and serves as the cornerstone of network security. Users who stake CENNZ (validators or node operators) can earn CPAY as rewards.
  • CPAY: Acts as the "fuel" token within the network, used to pay transaction fees and access platform services.

This design aims to separate the governance/security token from the utility payment token, making the network economy more stable.

2. Staking and Consensus Mechanism

CENNZnet adopts a Proof of Stake (PoS) consensus mechanism. Users can participate in network validation and maintain network security by staking CENNZ tokens. In return, stakers receive CPAY token rewards. This provides CENNZ holders with a way to participate in the network and earn yields.

3. 100% On-Chain Governance

CENNZnet emphasizes decentralized governance, claiming to achieve 100% on-chain governance. This means that important network decisions, such as protocol upgrades and parameter adjustments, are reached through a direct voting mechanism by validators and node operators and are automatically executed on-chain without the intervention of a centralized team.

4. Core Modules and Developer Friendliness

The platform provides a series of core modules designed to lower the barrier to DApp development. For example:

  • CENNZX Module: Used for token swaps.
  • NFT Module: Allows users to mint and manage Non-Fungible Tokens (NFTs) without writing complex smart contracts.

These pre-built modules allow developers to focus more on application logic and accelerate the DApp building process.

5. Token Contract and Deployment

The CENNZ token was initially deployed on the Ethereum network and complies with the ERC-20 standard. Its contract address is 0x1122b6a0e00dce0563082b6e2953f3a943855c1f. Users can view and manage this asset using Web3 wallets that support Ethereum and ERC-20 tokens (such as MetaMask).

CENNZ can be traded on exchanges that support the token.