Sirwin
Sirwin

E&S Token Review: Statera (STA)


Hello Publish0x community and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.

With this article we are going to introduce the 41st cryptocurrency of this section with the 88th “E&S” article.

Today we will talk about Statera (STA)!

In the last review, I talked about FTX Token (FTT) If you missed my last review, you can recover it here: https://www.publish0x.com/easyshort-cryptocurrencies-made-accessible/e-and-s-ftt-crypto-exchange-leader-xkpkrol

You probably noticed that today we are going to talk about a very familiar coin here on Publish0x! In fact, it is one of the coins with which tips are paid to authors and readers.

What is Statera?

Statera (consisting of the STA and wSTA tokens) is a smart contract powered Indexed Deflationary Ecosystem, which synergizes with a trustless and community-driven portfolio of class-leading cryptocurrencies. Every trade for Statera creates arbitrage opportunities, which results in volume rippling across the entire Statera ecosystem, resulting in higher fees paid to liquidity providers.

Statera

STA &wSTA

  • Statera (STA) is the core digital asset and the cornerstone of the entire ecosystem. Through its deflationary mechanism, it increases positive price pressure and reduces volatility. Every time Statera completes an on-chain transaction, 1% of the transferred assets are permanently removed from circulation. 101,000,000 STA were minted on Ethereum. STA on the Fantom network can only be minted by bridging, which ensures that the supply never increases. STA is burned on every transaction on Ethereum and the Fantom network.

  • Wrapped Statera (wSTA) can only be minted by wrapping native Statera tokens. The conversion process always generates 99 wSTAs out of every 100 STAs after deflation. Wrapped Statera can also be unminted at any time on the Ethereum network, returning STA to the holder. wSTA can be safely implemented on third-party protocols (such as BeethovenX) while still retaining the ecosystem’s deflation through its peg to the STA token via the Infinity Pool.

Wrapping and Unwrapping STA?

  • Approving wSTA on the STA contract
  • Go to the STA contract's Write Tab on Etherscan: https://etherscan.io/token/0xa7DE087329BFcda5639247F96140f9DAbe3DeED1?a=0xedeec5691f23e4914cf0183a4196bbeb30d027a0#writeContract
  • Select 'Connect to Web3' and connect your wallet.
  • Open the 'Approve' function.
  • Enter the Spender address: 0xeDEec5691f23E4914cF0183A4196bBEb30d027a0 (this is the wSTA contract).
  • Enter the number of tokens you want to wrap to the Value field (to avoid completing this process each time you wish to wrap, enter 101000000 for unlimited approval).
  • Click the + symbol, and select 10^18, this will add the 18 decimals as zeroes.
  • Click Write, and approve the transaction in your wallet

This will approve the wrapping function. If you plan on wrapping in the future again select a large number of tokens to avoid constantly having to approve.

For a full video tutorial, you can check this one: https://www.youtube.com/watch?v=4_ZEvYxlw2w

Here we can check their Roadmap:

Statera

Next week we'll see new details about STA!

I invite you to follow me so you don't miss the second part of the article that will be released next Sunday.

 

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MikeZillo
MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ? Telegram: @mikezillo


Easy&Short. Cryptocurrencies made accessible
Easy&Short. Cryptocurrencies made accessible

In this section, we are going to create two article per each cryptocurrency/token. The first one will be technical, with a simplification of the Whitepaper and the second one will be about particulars of the coin. For example staking yields, particular functions and so on! I am sure you will like this very much!

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