We guarantee stability even in conditions of market volatility
Cinergy (CIGY) is an accounting token whose price is determined by the cost of energy production.
The main purpose of CIGY is the accounting of goods. Its price is determined by the average cost of production of 1 kilowatt hour.
This approach guarantees the stability of CIGY in the market.
The current situation in the world
According to CoinMetrics, in 2021, the total volume of transactions in stablecoins amounted to more than $6 trillion. In 2022, Tether (USDT) processed $18.2 trillion worth of transactions, ahead of Visa and Mastercard, which processed $14.1 trillion and $7.7 trillion, respectively.
However, the collapse of the stablecoin TerraUSD and FTX also led to the collapse of the crypto market in 2022.
TerraUSD was pegged to the dollar by burning the second coin of the ecosystem - Luna. Until May 2022, their total capitalization was over $40 billion. But the lack of income to pay 19% per annum to all contributors and subsequent reimbursement through investments from funds led to the fall of the Terra ecosystem.
In February 2023, the issuer of the BUSD stablecoin, Paxos, notified Binance that the New York State Department of Financial Services (NYDFS) ordered it to stop issuing new Binance USD tokens. The market capitalization of the asset at that time exceeded $16 billion, it ranked third in this indicator among stablecoins, behind only Tether (USDT) and USD Coin (USDC).
The current situation shows that despite the unstable situation in the crypto world, the demand and need for stablecoins is growing. However, pegging to fiat currencies does not provide adequate stability.
For this reason, we created the Cinergy Accounting Token (CIGY). CIGY is not a means of payment for goods and services, but can be used for settlements between companies that use it to account for their costs against the value of CIGY. Thus, the token can be used as a tool for cross-border settlements for businesses and individuals.
CIGY is immune to market volatility, making it a stable asset for users who want to transact without exposure to market risk.
The relationship between the cost of energy production and the cost of CIGY creates transparency, ensuring that the value of a crypto token is determined objectively.
CIGY is available to anyone with an internet connection, making it a versatile digital currency that can be used for a variety of purposes.
The CIGY algorithm ensures that the price of the crypto token is always at its optimal level, ensuring that users can make efficient transactions.