After 12 years of existence, it was about time for crypto to be recognized as it deserves. Step by step, blockchain technology made its way to public institutions after it conquered vendors and business enthusiasts.
With all the issues that came with bank services, no wonder people are so hyped over the idea of crypto payments – which provide users with data and financial security.
Tokenization in particular got its spotlight due to all the solutions they offer in terms of fair payments, loans, and votes.
And to bring the crypto area one step forward, a dedicated team developed one of the most intriguing utility tokens that will forever change the way we see crypto – the STC token, available on its dedicated ICO since February 1st.
What is an STC token?
STC is the core utility token of the Student Coin blockchain project – that makes possible the creation of personalized tokens without strong technical knowledge.
Having an account on the platform allows you to create:
- Personal tokens – unique assets tied to a single account;
- Startup tokens – assets that help you take a step forward to your dreams;
- Corporate tokens – unique assets dedicated to a single company;
- DeFi tokens – assets that allow you to perform various bank activities without the intervention of third parties;
- NFT Tokens – transferable tokens that make possible the switch between platforms.
All these tokens are valued based on the STC Token, and they can be used for exchanges, trades, even crowdfunds.
Why is the STC token special?
The thing that makes the STC token superior to other tokens is its focus on the most important people in the world’s economy – students.
They are the next generation of employees, which will mark the success of current and future companies. To give people the chance to better education, there’s a need to make university programs more accessible.
But it’s not that easy. Reducing tuition fees will lead to a lower budget to afford qualitative researchers, teachers, programs, international collaborations, and so on.
Until now, the solution was bank loans. However, with our unpredictable economy, people lost trust in bank services. And who can blame them?
Therefore, Student Coin’s team came with a solution that decentralizes student loans – crowdfunding with personal tokens.
How does it work?
The future student creates its personal token. This token is put on the Student Coin market. The STC holders purchase the tokens until the student receives the money needed for tuition. After the student graduates and finds a job, a part of his salary will be locked to pay the loan. The STC holders receive a cyclical profit payment for their involvement.
This project is sustained by over 500 top universities worldwide, including Harvard University, the University of Manchester, and the University of Copenhagen.
A simple way for students to get the funds they need to achieve their dreams. At least, that’s the main focus, but this process can also be done for visionary entrepreneurs.
And that’s not the only reason why Student Coin studs out. Holding STC tokens give users the chance to vote in the project’s development and even sign petitions if they’re needed. It’s an entire ecosystem created to give people what they need and raise the utility of cryptocurrencies.
How can you buy STC tokens?
To get your STC tokens as soon as possible, make sure you don’t miss the Student Coin Launchpad ICO, available until April 30th.
Although it started just 54 days ago, the team already raised $17 million worth of STC tokens and completed 97 phases.
Every phase finished till now had a hard cap of 500K USD, and the price increased by 1% with every reloads.
Joining the ICO doesn’t just give you access to these tokens in advance, but it also gives you additional assets.
If you recommend the ICO to your friends and send them a unique referral link, you can earn 20% of ETH invested by every friend of yours, alongside 30% of their STC purchases.
Your friends also get an additional 5% of STC purchased.
And that’s what we call a fun activity!
Who is behind Student Coin?
Student coin is backed by a dedicated team of 44 people from 12 different countries, ready to expand crypto usability and create solutions for the world’s needs. Among them, you can find the former CTO of IBM for Europe, for example, or the president of the Harvard University Club of Poland.
By the end of 2021, the team plans to develop and implement STC Exchange, STC Terminal, and even an STC App, alongside listing the token on major crypto exchanges.
So, if their innovative ideas caught your attention, join the ICO and make sure to follow them on social media to be up to date with their features.
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Reef Finance’s Schedules Mainnet Release for May, Promises Polkadot Integration
Reef Finance has announced that its Substrate-based mainnet will see the light of day in May 2021. Called Reef Chain, it promises to “make DeFi easy” by enabling developers to use a highly scalable and fully EVM-compatible network that’s integrated into the Polkadot ecosystem.
Reef Chain Coming in May
Reef Finance is a cross-chain DeFi operating system allowing traders to access liquidity from centralized and decentralized exchanges through its smart liquidity aggregator and yield machine. The project outlined the date for its long-anticipated mainnet launch in a press release shared with CryptoPotato.
According to it, Reef Chain will be launched next month after finishing the final checks of the current Maldives testnet. The precise date will “depend on the result of the rigorous tests being conducted right now, though the team is confident that they will be completed soon.”
Upon its release, Reef Chain will enable DeFi developers to produce scalable and EVM-compatible systems integrated into the Polkadot ecosystem. Reef’s new product will be rolled out as a standalone blockchain based on the Substrate framework. This feature will simplify the integration to the Polkadot parachain network.
The mainnet’s compatibility with EVM, meaning developers can write contracts in Solidity or Vyper and deploy them on the chain, and its ability to bridge with other blockchains, including Ethereum, should enhance its interoperability features.
No Better Timing
Denko Mancheski, CEO of Reef Finance, outlined Reef Chain’s launch as perfect timing because of the “insatiable” demand for DeFi and the issues he sees with the current ecosystem. More specifically, those are the record-high transaction costs on the Ethereum network and even the struggling lately Binance Smart Chain.
Apart from promising scalability and deeper liquidity integration, Reef Chain is also “committed to helping out developers in their quest to bring their DeFi idea to life.” It plans to do so by enabling them access to Reef’s user base, network partners, investors, exchanges, and media.
“We know the struggles of up and coming developers all too well, and a lot of the time, technical skills are only a part of the equation. By tapping into Reef’s business network, DeFi builders will multiply their chances of success.” – concluded Mancheski.
CEO of a Turkish Crypto Exchange Thodex Reportedly Runs Off With $2 Billion
Nearly 400,000 users of a Turkish cryptocurrency exchange were left out of their accounts without being able to withdraw their funds. The platform’s website has been down for several days, while reports suggest its CEO has already fled the country with up to $2 billion.
Turkish Exchange Does a Rug Pull?
Bloomberg reported yesterday that Thodex, a Turkey-based crypto exchange, has ceased trading, citing an “unspecified partnership transaction.” The founded in 2017 trading platform issued a statement explaining that all services will remain shut down for about five working days. However, the message reassured customers that they shouldn’t worry about their funds.
Approximately at the same time, though, users started to complain about their inability to access their own assets. Some took it to Twitter to exemplify the absurdity of the situation.
A local #Crypto exchange where I’d ~20% of my entire trading capital got rug pulled
-20 days no withdrawal (fiat & crypto)
-Then the website went offline
-Then the CEO run abroad
I’m not broke, but it hurts… Alot
It sucks, Even when u deal with regulated exchanges#Thodex
— Feras_Crypto (will Never DM you First) (@FeraSY1) April 21, 2021
More recent coverages asserted that the exchange’s chief executive officer and founder, Faruk Fatih Ozer, who refrained answering comments before, had fled the country.
Users Alleging of Fraud
Upon the news of Ozer’s alleged escape from Turkey, users of the local exchange hired a law firm to file a complaint against Thodex. Oguz Evren Kilic, representing an unspecified number of Thodex customers, confirmed the development, saying, “we have filed a legal complaint on Wednesday.”
He speculated that the funds on the Turkish exchange could be worth “hundreds of millions of dollars,” keeping in mind that the user base is just shy of 400,000. A prosecutor in Istanbul has reportedly launched an investigation.
According to another report, Thodex’s CEO and founder has run away in Thailand with an estimated amount of roughly $2 billion.
It’s worth noting that Turkish authorities have already taken a steep approach towards the cryptocurrency industry. CryptoPotato informed last week of the country’s latest rule on digital assets, banning users from using them as payment instruments from April 30th.
IOHK’s Charles Hoskinson Responds to Cardano Scam Allegations
IOHK CEO Charles Hoskinson has replied to critics calling Cardano a scam that has not been able to develop any smart contracts since its launch.
Baseless Allegations Drive Investors Away
Responding to comments made by Bankless podcast co-owner David Hoffman, Hoskinson noted that over the years, podcasters had used their platform to level baseless allegations on Cardano, calling it a “scam.”
“It is one thing to say you’re skeptical [about Cardano]. It’s another to call [its developers] criminals,” Hoskinson tweeted yesterday.
He implied that baseless accusations like Hoffman’s comments are one of the reasons why several potential investors have refused to join the cryptocurrency bandwagon.
“This is crypto in 2021. Figure out why so many people want nothing to do with it?” he said.
Competition Between Ethereum & Cardano Rekindled
Hoffman’s recent shade has rekindled the rivalry between Ethereum and Cardano, which has lingered for years.
Cardano was launched in 2015 by Hoskinson, who is also a co-founder of Ethereum. Hoskinson noted at the time that the Cardano blockchain would outperform Ethereum by creating a better smart contract platform.
Six years down the line, Cardano is yet to deploy a single smart contract. However, the blockchain project is currently preparing for its next major upgrade that will enable smart contract capabilities. Hoskinson also hinted last month that the Cardano ecosystem will support NFT marketplaces as his team is currently negotiating with some of the top NFT-related protocols.
Ethereum, on the other hand, has been the widely accepted blockchain for smart contracts in the industry, with top organizations utilizing the blockchain for several purposes. Those include decentralized finance (DeFi) and non-fungible tokens (NFTs).
Hoffman hopped on the debate, clearly advocating for Ethereum and stating its use cases in his podcast.
While speaking in Ethereum’s favor, he talked about the upcoming EIP-1559 upgrade scheduled to launch later this year, which should provide fixes for some of the network problems, including high gas fees.
As for Cardano, Hoffman said he is skeptical about the project because it has not lived up to expectations. He noted that all users can do on the Cardano network is to stake and send, adding that he would put on his skeptical hat and call the project “a blatant scam.”
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