Stvke Network counts as one of the most innovative in the evolution of Cryptophere. The system works with a specially arranged mechanism of every member having a thick skin in the game. The use case is a platform where everyone, even if you don’t have coding skills, there is room to create your own ERC-20 token without any hindrance. The focus is to eliminate all sorts of limitations to allow people to build unique and complicated tokens as their capacity can conceive.
The rationale is to promote the creation of tokens that can reap the interest of the public directly from the onset based on their extraordinary features. As a matter of fact, they all come without the necessity to code them, just like a mint token.
The platform, moreover, facilitates liquidity provision via the Uniswap protocol as well as staking of selected digital assets to earn STV, the native currency. It has a Decentralized Autonomous Organization (DAO) that runs its governance system. At the moment, no project in Cryptosphere has a deflationary design or a binary token device similar to what Stvke is running. In fact, they are exceptional to the STVKE network.
STV And SPR Tokens
Stvke has a dual native utility token of STV and SPR with different functionalities, but they complement each other. STV is the governance token. STV hodlers have a role in the governance in the project, allowing them to have a say in which projects the ecosystem should finance. Again, they are part of the decision making concerning how much SPR gets minted in a day per STV.
STV holders determine how the Stvke platform functions and they are the only people with the prerogative to mint SPR. Hence, there won’t be any SPR without the availability of STV except you buy it from someone who generates SPR with his/her STV. By just hodling STV you can generate SPR, which you can use to create your own tokens.
Therefore, the role of SPR in the Stvke network is for the minting of new ERC-20 tokens on the platform. The latter is also for accessing all services on the Stvke ecosystem. To create a token on the platform, one needs to have a balance of SPR to utilize the token factory. The quantity of SPR spent determines the total token supply.
Accordingly, the more SPR employed, the larger the generated token supply can be in all. The idea is to create value and market demand for SPR, as one can solely receive SPR by hodling STV, consequently increasing demand for STV. The total supply of STV is 20 million, and there will be 9 million to list on UniSwap. Also, the team is controlling only 10 per cent, which will be locked in a vesting smart contract viewable to everyone.
Besides, 30 per cent consisting of the total supply will go into lock-up in various ways, which is 10 per cent, 15 per cent and five per cent for DAO, Development and partners respectively. More so, Staking rewards will be 15 per cent of the total supply.
There are penalty structures that apply to anyone who sells their tokens at a particular point in time. Normally, it applies to those who choose to sell the STV tokens before a period of less than a year.
However, after a year, you can transfer your STV tokens without penalties applying. For instance, if someone transfers or sell within 24 hours of getting them, there is a 50 per cent tax on the transferred quantity.
Out of that 50 per cent tax, 10 per cent gets burnt permanently, while another 10 per cent goes to the DAO. The rest is then, distributed to stakers on in the ecosystem. When it comes to penalties, there are five distinct ranges of 24 hours, one week, one month, six months and one year.
Join Stvke Community
This DeFi project is gathering steam with an admirably growing community. The team urges everyone who is hoping to learn more about the project to join them.
Here are their social media accounts: