Starbase Update Nov 2020
It’s been an arduous journey to get to this point as we plotted and navigated our course towards achieving our Roadmap 2.0. Finally, after consulting with many third parties to ensure that we are complying with a multitude of rules and regulations as well as understanding contingency situations, we are committing to the route.
Let’s take this time to refresh on the plan for how STAR tokens would be used for this new roadmap and what utility it can be used (please note that the following are a direction we are working towards and may change depending on circumstances and feedback):
- Starbase Rewards Program
This will be the main driver of the whole project. This will be where you will be able to redeem your STAR tokens for goods and services. The main intent is that our STAR holders will be able to get such items at a cheaper rate as compared to open market prices. Long term, we will leverage on the demand and userbase to negotiate with such providers and pass on the saving to you!
To make things more exciting, there will be auctions held to bid on exclusive or limited goods/services! So keep that STAR token handy for this feature!
The site is ready for for the viewing (NOTE: though functional, it is VIEW ONLY) and will be in full use when Roadmap 2.0 is in full swing. You may Check it out at: https://rewards.starbase.co/. - Commission Payment
You will be able to use STAR to offset the commission charges. By using STAR to pay for the charges, you will also get to enjoy discounts on the price. - Deposit and Withdrawal
Once the value of STAR has stabilized through renewed tokenomics, we will then be accepting STAR as the medium for deposits and withdrawal. This allows a seamless and encompassing utility in the ecosystem. - Buying and Selling Information
A utility relevant to Roadmap 2.0 that is conceptualized is for users is the information exchange between STAR holders and access will be exclusive to the STAR community. More details of this will be announced as we reach the milestone for this program to come in. - Tiered Bonuses
To incentivize the holding, collecting and spending of STAR tokens, we will be awarding tiered bonuses for such actions. The more that is accumulated, the higher the bonus is given! Look out for more information! - Bounty and Incentive Program
Mainly focuses on marketing and token loyalty, this program is the main way to earn tokens fr use in the STAR ecosystem.
The above are the ways that we will achieve the ultimate goal of increasing the value of STAR. Our main focus will be that it will be carried out properly and comply with all legal as well as technical concerns.
On the topic of STAR utility, w are happy to announce with reference to the original white paper, that our Stake Sale mechanism is ready for roll out!
Stake sale is more of a VIP sale than a regular one and it is because the Stake Sale occurs before.
ICO’s project owners are able to offer discounts on token sales for those users that stake STARs in their project.
For investors, in order to get the discount, they just need to stake STARs in the ICO’s Stake Sale so they will be ranked.
When the Stake period in the Stake Sale ends, each investor will be able to purchase tokens with a proportional discount according to their position in the rank.
In other words, investors will use the stake sale to buy cheaper tokens while higher the rank higher will be the discount.
For ICO’s project owner, the Stake Sale will help them to market the project and create a buzz even before a pre-sale. When longer the Stake period, more investors and more buzz you will get.
In Starbase website, project badges will lead investors to ICO’s that are providing Stake Sales.
Once in the project’s page, the investors will get all needed information about the Stake Sale, such as the discounts, the period and an amazing slide which can be used to emulate the gains and discounts with the Stake.
The investors can stake how many times they want so they can be at the top and ensure the bigger discount.
You can get more information and the step by step through this link: https://www.youtube.com/watch?v=wpD5azyv1WA
For nerds ;] here it goes the Smart Contract: https://github.com/StarbaseCo/starbase-platform-smart-contracts/blob/master/contracts/StarStaking.sol
We look forward to make the next update when we have completed the signing with our tech provider B2Broker.
Towards a skyrocketing future!
Feel free to reach the Starbase team on:
Website: starbase.co
Twitter: twitter.com/StarbaseCo
Telegram: t.me/starbase
