What Is Czpegs(CZBNB)? Complete Guide & Review About Czpegs

What Is Czpegs(CZBNB)?

Czpegs is based upon the work of an accumulation of TOMB finance forks over the last few months. The project is run and lead by the doxxed team at BOMB Money, lead by CEO Aaron Shames! We have taken the best parts from all of the best forks and combined them into one polished, final product!

These extra additions will serve as a foundation for BOMB and EMP, providing constant buy pressure as well as offering high yield to BNB enthusiasts all around Defi! As far as networks go, Binance Smart Chain (BSC) seemed like the perfect choice again with its fast transaction speeds, low gas fees, and large user base. Plus, it’s the home of BOMB and EMP!

Important Points Table Of Czpegs

How to Buy the Continental & Trade On Exchange?

What are the CZpegs protocol tokens?

CZpegs multi-token protocol currently consists of the following four tokens, and each plays a critical role in how the protocol works to maintain peg:

CZbomb Tokens ($CZbomb) – The CZbomb token is algorithmically pegged to BOMB at a ratio of 1:1. To add, BOMB is pegged 10,000:1 to BTC. E.G – If BTC is $50,000, BOMB is $5, CZbomb is also $5 (if both tokens are at 1.00 peg)

CZbnb Tokens ($CZbnb) – The CZbnb token is algorithmically pegged to BNB at a ratio of 1:1. This means that if BNB was $400, CZbnb would also be $400.

CZemp Tokens ($CZemp) – The CZemp token is algorithmically pegged to EMP at a ratio of 1:1. To add, EMP is pegged 4,000:1 to ETH. E.G – If ETH is $4,000, EMP is $1, CZemp is also $1 (if all tokens are at 1.00 peg)

1. BondBOMB / BondEMP / BondBNB – The Bond version of all the main tokens, these are used to help incentivize main token buys during contraction periods (below 1.00 peg).

How does it work?

The CZpegs protocol works through a synergistic design of unique tokens and mechanisms that create an automatic, self-reinforcing system to help maintain the pegs of all the main pairs. Each of these tokens and mechanisms will be explained in further detail within this documentation, but for now let’s have a look at a brief overview of how it all works, we will use CZbomb as an example but this applies to CZemp and CZbnb as well!

• When CZbomb price is over the peg 1.001, new CZbomb are minted by the protocol to inflate the supply in an attempt to drive the price down towards the peg. These new CZbomb are allocated to Czshares holders in the CZbomb Boardroom, as a reward for their investment and trust in the protocol. This, in turn, increases the demand for and the value of CZshares.
• When CZbomb price is at the peg between 1.00 and 1.00099.., no new CZbomb will be minted, keeping the supply fixed during this time. Since there will be no new supply coming in, the peg will be maintained indefinitely at this point unless there is a shift in demand. More buying pressure during this time will push the price back up above the CZbomb minting threshold. Conversely, more selling pressure will push the price below the peg.
• When CZbomb price drops below the peg 1.00, the protocol will begin to mint BondBOMB’s (up to a maximum debt limit). Experienced investors will have the ability to exchange their CZbomb for these BombBOND’s, which they can then redeem for CZbomb at a premium above 1.05 peg in the future. This removes CZbomb from the total supply, applying upward pressure on the price towards the peg. Besides this, investors who believe in the protocol’s ability to maintain peg can just buy CZbomb to essentially purchase BOMB (Bitcoin) at a discount to the market. Both of these incentives are intended to create upward pressure on CZbomb’s price when under the peg so that the peg can be regained over time.