On October 15th, Filecoin, a three-year-old storage-type head public chain, finally went online and successfully took over DeFi, attracting all the attention of the market.
Odaily Planet Daily found that most public chains tell the story of “faster and cheaper Ethereum”, but in reality they lack a clear positioning and it is difficult to carry the banner of independent vertical fields. The birth of a high-quality public chain often brings solutions to key problems and the beginning of a new ecology for the track.
Recently, Odaily Planet Daily noticed such a public chain, CENNZnet, that has its own ecology just after it went online.
From a fundamental point of view, CENNZnet’s “foundation” is good. It has received hundreds of millions of dollars in high financing and has “sufficient resources”. It has more than 30 ecological development teams and dozens of system applications and hundreds of thousands of users. In practice, it has also become one of the payment channels for Coca-Cola Australia.
In addition, CENNZnet has also recently learned financial gameplay from Ethereum, seeking new possibilities in the social and payment ecosystem.
Q4 Star projects are getting together and online, have the public chains found their own direction?
First, let’s briefly review Q3 2020. It took 3 months for liquid mining to go from the beginning, the explosion to the decline and the loneliness.
On October 8, the DeFi market fell again. According to encryption data company Sentiment, the total market value of DeFi assets fell by 25% in a single day, and the transaction volume shrank by 30%. Binance Futures’ DeFi composite index also shows that the index has fallen by 63% since it went live on the first day of late August.
Of course, this is not a bad thing. In the heat wave, many projects and teams have gained voice. We believe that after the bubble is removed, DeFi, which is reissued in its entirety, will eventually return with the next innovation.
But before that, developers and investors have not stopped looking for the next product direction worth looking forward to.
Many people think that DAO, NFT, etc. can take over the DeFi craze, but it turns out that they are nothing more than the “derivative sector” with a smaller demand, and the cycle from rising to falling is even shorter than DeFi.
Another part of investors has set their sights on the “long-distance running” star projects that are newly launched or will be launched in Q4, such as the decentralized storage public chain Filecoin, DFINITY, which has attracted Silicon Valley’s top 5 venture capital institutions, and the “academic” of technology hardcore. Project Avalanche, high-performance tree graph structure public chain Conflux, and CENNZnet, a crypto payment giant.
Among the many projects, CENNZnet from New Zealand is quite powerful but the most low-key. Until the second half of this year, its tokens and applications had never landed in the Chinese market. And this “little-known” project, which has received 100 million US dollars of financing, has been working for 4 years, and it will be connected to 3000+ Coca-Cola vending machine terminals in Australia and New Zealand in the middle of this year, providing users with cryptocurrency payment Optional.
In addition to the typical scenario of payment, CENNZnet has also settled on more than 20 ecological enterprises including identity authentication, social networking and decentralized transactions, providing 500,000+ account addresses on the chain (monthly active addresses 100,000+) Feature-rich products and services. This is exactly the “composability” that Ethereum is often proud of.
With both a large-scale payment network, a highly available public chain platform and the financial resources to support the ecology, can CENNZnet compete with the top players in industries such as Ethereum and XRP? Before making a judgment, we might as well perform a panoramic scan of this project.
New Zealand star public chain makes headlines in the media due to high fundraising
In order to understand CENNZnet more accurately, Odaily Planet Daily interviewed two CENNZnet creation team members: CEO Aaron and CCO (Chief Commercial Officer) Jerry.
Jerry used to be the sales executive in charge of corporate business in Huawei’s South Pacific Region. In 2012, he met Aaron, who was then a senior executive of Telecom New Zealand. From business relations to becoming friends, the two have maintained a good friendship for many years.
In Jerry’s view, Aaron is “the person with the highest comprehensive quality and ability among foreigners he knows. He is very reliable, has a good view of new things, and usually has a good idea before doing things.”
Therefore, when Aaron approached Jerry in early 2016 to say that he wanted to start a business, Jerry agreed. In the next three months, Aaron, Jerry, and Roger Smith entered the scene to conduct business demonstrations. In the process, they found that starting an Internet company will face many obstacles, such as website building, APP development, etc. that require a mature development team, which is undoubtedly a big expense for start-up companies. At the same time, every startup has to go through this process, where there are many repetitive development parts.
Therefore, Aaron thought, why not build a collection platform for plug-and-play development modules. At that time, Aaron learned about the disruptive nature of blockchain to the existing economic model through a friend in Zurich. Therefore, the Aaron three immediately decided to form Centrality, one of its core tasks is to provide developers with a blockchain-based underlying development platform and corresponding core development components.
In order to promote adoption and early ecological development, Centrality has another positioning for itself as an investment company, that is, through equity investment to support developers and development teams who are willing to develop projects based on CENNZnet.
The recent hot cross-platform tiered derivatives agreement BarnBridge (with a total lock-up volume of approximately US$200 million in 12 hours after launch) is supported by Centrality. Not only Centrality participated in BarnBridge’s seed round of investment, Aaron is also currently serving as BarnBridge’s chief advisor.
So where does Centrality’s funding come from? According to Jerry, four months after the project was approved, the team received USD 15 million in TGE per sale (Token Generate Event, equivalent to ICO’s Pre Sale) from investors in Japan.
In the following year, the cryptocurrency market quickly heated up, with new projects emerging in an endless stream, mixed with fish and dragons, and attracting money. CENNZnet, a well-prepared and well-thought-out project, has also attracted the attention of the capital market.
In January 2018, Centrality launched a global public offering. 470 million tokens (40% of the total tokens) with a unit price of US$0.17 were sold out within 6 minutes, setting the record for the fastest raising of tens of millions of US dollars in history. In the end, Centrality raised $85 million.
What Jerry didn’t expect was that this large-scale financing appeared on New Zealand’s mainstream media Stuff. For a while, Centrality not only received funds, but also gained a reputation in the talent market and public chain market. In the following year, development teams large and small successively found Centrality for cooperation.
In addition to “multiple gold”, what hard core strength does CENNZnet have?
Why is CENNZnet favored by developers?
(1) A platform that is more usable to users and more friendly to developers
Talking about why institutional investors choose Centrality, Aaron said that CENNZnet was still in the conception stage at the time and was far from landing. The capitalists mainly valued the team’s clear understanding of the industry and accurate positioning of the project.
In 2018, the goal of most projects is to build a high-performance public chain, so they will spend all their energy on building a network with a higher TPS, but many people have not thought about how to acquire users after the project is launched.
In contrast, Centrality’s understanding of the public chain is more “grounded”. The team adopts a parallel strategy of ToB and ToC. While striving to provide developers with complete development components, it also invests in “blockchain+” projects to quickly An ecological prototype covering social, payment, etc. for users has been established.
According to Jerry, since its establishment, Centrality has invested in 30+ teams. Unlike many Token Funds in the currency circle, Centrality’s investment purpose is very clear. It focuses on the establishment of the future ecology and precise investment in projects that are powerful for ecological construction. All are equity investments. , So far all projects have not withdrawn.
The projects in the portfolio have brought a combined public chain ecology to Centrality.
Now, on CENNZnet, you can register your address, authenticate and log in through SingleSource, store, call and verify this information decentrally; you can use this identity to access another crypto communication software called Sylo, through Sylo and your family , Friends, and business partners for private communication; when you want to transfer assets to partners or family members without intermediaries, you can also jump to Centrapay; when you want to turn crypto tokens into legal tender, you can use CENZX Conduct decentralized transactions.
According to statistics, Sylo on CENNZnet alone has had more than 200,000 downloads in the first 6 months, with monthly active addresses reaching 100,000+, initially verifying the stickiness of blockchain social products.
In the ecological design, Sylo will become the entrance for users to enter the ecology. In addition to establishing independent DAPPs on CENNZnet, developers can also easily build mini DAPPs (similar to small programs) on Sylo. Sylo’s ultimate goal is to become the WeChat of a decentralized world.
Not only is it user-friendly, but for B-side developers and development teams, the large user base on CENNZnet is very attractive, and the simplified development process provided by it makes product creation more effective.
Centrality already has a highly skilled development team. According to Jerry, “During the market downturn, in addition to its own work, the team occasionally took on corporate projects based on block technology. The largest order the team had ever traded reached 15 million US dollars, from the Japanese market.
Picture: CENNZ’s Japanese and Korean market communities
On the CENNZnet public chain, developers can directly call the product modules developed by the Centrality team, which can be regarded as better “development assistants” and can create modules for everyone to use according to market needs.
In addition to rich functional modules, the network architecture designed by Centrality also simplifies the deployment threshold. “CENNZnet is like a complete WeChat ecosystem, with social networking and payment. What developers have to do is to develop a small program with a specific function based on these. The calls between services (contracts) follow the same set of agreements, which is very convenient.”
“Ultimately, we will create a decentralized application store.” Jerry firmly believes.
(2) Powerful resources, large-scale implementation of payment applications
In June of this year, Centrapay within the ecosystem formally reached a cooperation with Coca-Cola Amatil (one of the largest packaging companies and distributors of Coca-Cola in Oceania) in Australia and New Zealand.
Now, users can use BTC to pay in Coca-Cola’s vending network through Sylo Smart Wallet. The consumption experience is the same as our daily payment using WeChat or Alipay.
According to Jerry, if the payment process on the chain is strictly followed, users will have to wait a long time. In order to optimize the waiting time, Centrapay has adopted a compromise strategy. “We will not wait until a complete block is formed before performing the action of delivering Coke. Instead, we will deliver Coke to users when the verification requires confirmation to upload to the chain and wait for consensus verification.”
Of course, in large-scale commercial use, users need to provide more currency options. Jerry said that in the future, payments will be further migrated to CENNZnet, and more market-recognized currencies will be added, which will bring users a payment experience with both decentralization and speed.
Recently, Coca-Cola Amatil’s investment platform Amatil X has invested in Centrapay. The funds will be used to accelerate the integration of its PoS and payment terminals, allowing multi-brand merchants and users to use mobile payments.
In addition, Centrapay has also signed an agreement with Verifone, the world’s second largest payment terminal manufacturer. In the future, Centrapay will bring new payment forms and experiences to more users through traditional payment terminals.
So why did these big companies choose CENNZnet and Centrapay instead of building their own payment network?
“World giants like Facebook are all building their own payment networks. These big companies that make money must also have the desire to experience innovation and occupy the track, but it does not have enough motivation to subvert the status quo and lack professional people, so It’s a more rational approach to leave it to us as a channel to test the waters.” Jerry thinks.
Picture: Use CENNZnet system to purchase offline retail machines
(3) Keep up with innovation, launch algorithmic stablecoins and liquidity mining
CENNZ is the native token on CENNZnet, and CPAY is an algorithmic stablecoin obtained by staking CENNZ.
There are currently 16 million CPAY tokens in circulation. Similar to algorithmic stablecoins such as AMPL, CPAY mainly controls prices by minting and destroying tokens.
Unlike some “lack of rigid demand” stablecoins, CPAY is used to pay Gas fees on CENNZnet, so that the cost of users and developers using the network will be controlled. Another use of CPAY on CENNZnet is for developers to purchase development services.
In order to promote the use of CPAY, CENNZnet recently launched a liquid mining game. Users pledged to CENNZ can get CPAY, and the top ten users with pledge amount can also get dividends from all network gas fees.
It looks like this is a “game for big players”. In fact, it is not. According to Jerry, small holders can become big ones through joint mining, that is, join the mining pool, and participate in dividends.
Ecological landing and mainnet launch, where will CENNZnet’s next city be?
In the second half of this year, CENNZnet ushered in an important milestone. In September, the CENNZnet mainnet was officially launched. At the same time, CENNZ Token will be listed on major Asian exchanges, including MXC, ZB, Bithumb, etc.
According to Centrality monitoring, some of CENNZ’s tokens are inactive all year round, and the actual circulation of tokens in the market is about 1 billion. Among these circulating tokens, the main network mortgage contract has locked more than 800 million tokens. Users who pledge CENNZ tokens can obtain governance rights and stablecoin CPAY rewards.
After completing the mainnet launch, Jerry said that CENNZnet will continue to focus on the main axis of the public chain, launch a developer downgrade plan and expand the ecosystem. Jerry also revealed that the team is in close communication with relevant local government departments, and announced this month that its financial innovation company CentralityFintech will launch the crypto currency power dollar supported by sovereign funds (1:1 with New Zealand fiat currency) in the first quarter of next year. At the same time, the company is also in the process of applying for New Zealand’s first virtual bank license, and hopes to bring more revolutionary and innovative products in the future.