On June 1st, the world’s leading mainstream digital asset exchange platform Poloniex announced the inclusion of the mainnet coin STT of Statter Network on its list and the provision of the STT/USDT trading pair. This marks a new milestone in Statter Network’s development. As a representative of the emerging metaverse industry, Statter Network has attracted wide attention. The preparation, project financing, and mainnet public testing have gone through a long cycle. The complexity of metaverse bottom-layer technology and the innovation in the drag-and-drop public blockchain generation technology are two key elements for this period. Today, the launch of STT takes the project to a new stage: the market pricing age.
The transaction price is the direct manifestation of the target assets’ value. On June 2nd, when the Poloniex exchange opened for transactions, the STT price rose to 2 dollars within a short time, with a stunning increase of 300%. This indicates that the market recognizes STT and that users are buying it.
A month has passed since the first public testing of Statter’s mainnet. During this period, the mainnet operated in a safe and steady manner. As we can see from the chart on the blockchain browser, the number of blockchains is increasing, and both the block reward and other data are normal. According to the data from the official website, there are 50 million STT produced. However, after the mainnet public testing ends, there will be a large demand for STT staking, so the STT circulated in the market will significantly drop.
Recently, Statter has received a lot of attention from developers and the industry. Its popularity can be compared to projects such as APT, SUI, and ARB. Apart from its leading position in metaverse public blockchain and many cool technologies for different industries, the design of its economic model is also an important highlight.
As the crypto coin of the Statter mainnet, the production of STT follows the same logic as that of BTC: new STT coins are only produced through mining. After the production, there will be a second distribution, in which 90% of the STT coins will be distributed to miners and ecosystem contributors. For every 12 months, STT’s yield will decrease by 25% to regulate the amount of STT in circulation. Therefore, early miners will get extra rewards under the same conditions. Statter Network’s destruction mechanism is another deflationary setting of Statter. During on-chain activities and ecological construction, a large amount of gas fee will be burned, such as the creation of mining pools, some transaction fees, and the creation of satellite chains. The destruction mechanism applies from the beginning of the mainnet and will only suspend when 90% of STT coins are burned.
After the network provides the service of STT transfer, STT’s value will cover the whole ecology of the Statter Network, including tens of thousands satellite chains that are developed based on Statter as the bottom layer, and users of these chains can directly pay in STT. For example, STT can be used for staking, gas payments, setting up mining pools, earning profits through transactions, gaining ecological rewards, NFT trade, paying for creating satellite chains or DApps, etc.
Statter is backed by a competitive team with a reliable technological background. All the core members of the developer team are from Google. Drag-and-drop public blockchain generation technology and jigsaw-like DApp assembling technology are technologies particularly worth mentioning. Developing a public blockchain is difficult, time-consuming, and expensive. The drag-and-drop technology solves these problems. With drag-and-drop technology, developers can instantly generate a new public blockchain by pressing the “one-click generate” button; the jigsaw-like Dapp assembling technology complements the former by allowing ecological builders to create DApps in an easier way. These two technologies remove the technological barriers for blockchain developers and ecosystem contributors, laying a great foundation for the prosperity of the Statter ecosystem and the industry.
Looking at its capital strength, we can find that Statter has received tens of millions U.S.D investment from a consortium led by the Holo Foundation, an emerging Wall Street investment institution. The Holo Foundation greatly promoted Statter Network at a financial press conference held in New York. It brought the Statter project to the center of the capital stage, and the project has attracted many potential investors.
Compared with the massive metaverse blueprint sketched by Statter Network, the launch of STT is just a small step. More ecological construction and technological R&D are in progress. Of course, trading platforms are paying close attention to STT.