Scholar Coin holders in STC wallets are urged to rush up and redeem their tokens, because the crew behind the undertaking retains customers knowledgeable in regards to the progress of the redemption course of and the choices out there.
Time is ticking for Scholar Coin holders. STC Pockets customers have lower than three months left to redeem their tokens. The redemption course of started on April 9 this yr and is scheduled to happen in a number of levels over a complete of 5 years.
The primary and second deadlines for token redemption in STC wallets (automated) and thru the central trade have already handed in June. The third part, scheduled to finish on October 9, 2024, entails submitting a redemption request and requires direct contact with the Scholar Coin crew. The ultimate part, which is able to final till April 9, 2029, will permit customers to promote their tokens on-chain.
What’s Scholar Coin and why is it being discontinued?
Scholar Coin was launched in 2019 by a bunch of scholars from Kozminski College, a Polish enterprise faculty. The principle objective of the undertaking was to discover the potential of blockchain and encourage the adoption of cryptography within the tutorial group. The experiment was profitable and led to additional efforts such because the creation of STC Pockets, the launch of STC Academy, and finally the founding of Coinpaper.com, which is now one of many main crypto information portals.
After a interval of speedy progress and spectacular valuation, the STC token confronted a difficult setting. Financial turmoil, trade scandals, and regulatory uncertainty weakened its momentum. Regardless of weathering these tough seas, the Scholar Coin crew remained devoted. They launched new initiatives, improved present merchandise, and prioritized person safety throughout the collapse of main cryptocurrencies corresponding to Luna, UST, FTX, Genesis, and Celsius.
Nevertheless, with the most effective pursuits of the group in thoughts, the Scholar Coin crew has made the troublesome choice to terminate the STC token and associated initiatives, together with STC Terminal and STC College.
Supply: StudentCoin.org
Following the winding down of the STC ecosystem, the crew has shifted their focus to growing new initiatives with a specific deal with Coinpaper. The cryptocurrency information outlet has seen vital progress, with a formidable month-to-month person progress charge of round 19.75%, indicating a shiny future.
How can I get details about the STC redemption course of?
All through the undertaking, the STC crew has prioritized a clear and accountable method in dealing with customers' funds. Customers can keep up to date on the progress of the redemption course of by following the undertaking's web site, StudentCoin.org, and on Twitter, the place the crew is in direct contact with followers and posts frequent updates.
Based on a current announcement, 82.86% of the overall STC provide and 100% of the tokens held by the crew have already been burned. Moreover, between Could 30 and June 15, the token was delisted from KuCoin, ProBit International, HitBTC and all remaining centralized exchanges. The undertaking additionally shut down its Telegram chat.
The crew has been repeatedly informing customers in regards to the deadlines for the STC redemption part and serving to them navigate the method. $0.006 and $0.0137 per token It fluctuates based mostly on a specific account's buying historical past and exercise. This method is designed to reward loyal customers, long-term holders, premium program members, and direct purchases by way of STC wallets.
How do I redeem my STC tokens?
Handbook STC pockets redemptions by way of OTC redemption requests, out there till October 9, 2024, require you to endure KYC/KYB procedures and AML checks, in addition to submit paperwork proving supply of funds and supply of wealth. For extra data, please go to StudentCoin.org.
The ultimate and longest-lasting redemption possibility, out there till April 9, 2029, entails on-chain operation and permits for 2 approaches:
– Uniswap V3 to USDC transactions,
– On-chain burn process.
For safety causes and attainable liquidity limitations, you probably have low buying and selling quantity for STC, a Uniswap transaction is beneficial, wherein you deposit your tokens right into a Metamask pockets and convert them to USDC by the related pool on the Uniswap decentralized trade.
Alternatively, and beneficial for bigger quantities, you should utilize our on-chain burn process by merely sending all of your STC tokens out of your self-custodian pockets on to the burn deal with: https://etherscan.io/deal with/0x000000000000000000000000000000000000000000dead. In return, the STC crew will switch you the suitable worth of USDC. Full directions can be found on studentcoin.org.
The method is absolutely clear and all blockchain transactions are seen. As soon as the deadline has handed, all STC tokens can be burned anyway. In case of an on-chain burning process, the utmost ready time for refunds is 3 months.
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