Pssst You, yes you over there!Wanna buy some STA Token?-My entry into the STATERA writing contest

By Searching for Truth | Life Sucks | 9 Aug 2020


What is a STATERA u ask?

Its this relatively new Crypto token that is used in Ethereums DeFi (Decentralized Finance) system, wanna buy some? Its already around 10 dollar cents at the moment of writing, it was around 5 cents a week ago.

What ya mean when u say it feels like there are already a million crypto projects out there and you wanna know how it works? and what makes it different?

Tss, the Hell do i know, I mean I write Movie Recommendations , i dont use words like smart contract powered Indexed Deflationary Token-sounds like Ultra Megazord to me ...sigh....well I try but im not sure if I got it right ....A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement-thanks to Wikipedia for this easy to understand definition.A Index in this case means that you have a Database of Token that are used in this contract and its deflationary because Token get burned and the overall  STATERA tokens are decreasing,STATERA is the Latin word for scale and since there is already a Libra token The STATERA Token is called STA , now if u put one token on one Side of the Scale and nothing on the other  then its pretty useless to use a scale at all.To Keep a balance its necessary to use other Tokens as well, for that reason STATERAS using 3 different Token and works together with other Tokens.Delta Token is made of 50% STATERA Token and 50%Ethereum which are Balanced out into One in the Balancer Pool.This Delta Token on the other Hand will be invested again into another pool-The Phoenix Fund-so you're not just investing in one Token when u invest in STA.There are 3 balancer pools that are used by STATERA and you can mix it up on your own with even more.

fd0f68af88693d3bbc600bef175b21a60b91f780701d7a9d7a01ae5c611ad170.jpeg

You need to use Uniswap or something similar and add the token into a balancer pool

In this STATERA(Balance)pools there are 3 Tokens that are used, and thats not all it gets even more complicated because you can use the Token in other pools as well.

The 3 Tokens are:

STA-Statera Token

904da4318495992385ac9b9bd222475881334dd7537ebfee6d428c53135cb8d1.jpeg

 This is the Basic Token

 

 

Delta Token

086b7742b22fc5386a3dc1103f94fc99fb54753c237a3ab9e7a86bcb16f230a1.jpeg=600f7a1c39bf550c4e73b7447ec67f13ecdb8f99ca2abf5e6909e04da23f0a58.jpeg

Puff my Head goes, this is a fusion Token its Pool consists of 50% Ethereum and 50% Statera and you earn fees for holding it.Basically you own Ethereum and STATERA if you own this

 

Delta Liquidity Token DLT

e6dcffac71ea6f0c5eb3f403da7d5f4250bead497715c8d3983f39e4a5b2ce7e.jpeg=b349e20b773a914b38160a9102032c1e48b3673e4d8417690dceef47747647dc.jpeg

This one is Made of 75% STA and 25% ETH it is not
traded and its not added to the Phoenix Fund  but you earn fees for having it  and can add it into another Pool

Whats a Phoenix Fund you Ask?

Well its that thingy where they finally use the scale to mix the big fish in the Index,they take Delta Token(40%) and add SNX(10%), LINK(10%) and something called wrapped ETH(30%) and wrapped BTC(10%)(Those wrapped Stuff is used for defi and has the same worth as the coin it represents).

Now this (Smart Contracted)Balancer handles the Token and trades them automatically based on their Price, if i got it right then the Balancer sells the earn from the increasing token and buys some more of the other Token to keep the percentual Balance up, so that the percentage will always stay the same but the price will change.

234799a97a2c94ce131a7a044e417f9e5641cd118a8eb28f4dfeeeebf9e18d65.jpeg

For every Transaction with STA 1% of the Transactions value gets burned so the marketcap gets down and the Price goes up.Sounds very promising to me but im no financial profi so i dont give any advise just my opinion.

This Image is used from the Writing Contests explanation

Defi seems to be the Big thing right now and the prices seem to go in a incredible Direction but thers also a certain Risk by using it and its more complicated than just trading crypto which will hold back people like myself who have trust issues to the relatively new financial systems.I did knew nothing about Statera and defi before writing this Article but i wanted to participate so i gave it my best and i read a lot about it ,im Sorry if i still got something wrong and im asking for Indulgence here.

WELL,that was my Post about STATERA ,now my head hurts and im done.

9d110ce5676d255eba5b663dfa246eba81ba42e038cbf62de32079dc162121d8.jpeg

How do you rate this article?


5

0

Searching for Truth
Searching for Truth

This whole world is nothing but lies,lies,lies! LIES! Lemme show you what I like to call the truth! The truth called 'DESPAIR!-Hazama; BlazBlue


Life Sucks
Life Sucks

Bad Things Happen all the Time,here are some examples

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.