The clock is ticking for pupil coin holders. STC Pockets customers have lower than three months to redeem their tokens. The buyout course of started on April 9 this yr, with a number of phases deliberate over a complete of 5 years.
The primary and second deadlines for token payouts within the STC pockets (robotically) and thru centralized exchanges have already handed in June. The third part, scheduled to finish on October 9, 2024, includes submitting a payout request and requires direct contact with the Scholar Coin workforce. The ultimate part, which can proceed till April 9, 2029, permits customers to promote their tokens on-chain.
What’s Scholar Coin and why is it shutting down?
Scholar Coin was launched in 2019 by a bunch of scholars from Kozminski College, a Polish enterprise college. The first goal of the undertaking was to discover the probabilities of blockchain and encourage the tutorial group to embrace crypto applied sciences. The experiment proved profitable and led to different initiatives, together with the creation of the STC Pockets, the launch of the STC Academy, and finally the institution of Coinpaper.comat present one of many main crypto information portals.
After a interval of speedy progress and spectacular valuations, the STC token confronted a difficult atmosphere. Financial turbulence, business scandals and regulatory uncertainty dampened its momentum. Regardless of navigating these turbulent waters, the Scholar Coin workforce has remained dedicated. They launched new initiatives, improved present merchandise, and prioritized consumer safety throughout main crypto collapses reminiscent of Luna, UST, FTX, Genesis, and Celsius.
Nevertheless, with one of the best pursuits of the group in thoughts, the Scholar Coin workforce has made the tough resolution to cancel the STC token and associated tasks, together with STC Terminal, STC College and others.
STC Token Worth Chart, Supply: StudentCoin.org
After liquidating the STC ecosystem, the workforce shifted its focus to growing new tasks with a particular deal with Coinpaper. The crypto e-newsletter is experiencing important progress with a powerful month-to-month consumer improve of practically 19.75%, indicating a brilliant future.
keep knowledgeable in regards to the STC reimbursement course of?
All through the undertaking, the STC workforce prioritized transparency and a accountable strategy to dealing with consumer funds. Customers might be knowledgeable in regards to the growth of the redemption course of by monitoring the undertaking web site StudentCoin.org and Twitter. The workforce maintains direct contact with followers and posts frequent updates.
In accordance with latest bulletins, 82.86% of the full STC provide and 100% of the tokens held by the workforce have already been burned. Moreover, between Could 30 and June 15, tokens had been faraway from KuCoin, ProBit World, HitBTC, and all remaining centralized exchanges. The undertaking additionally closed its Telegram chat.
The workforce always reminded customers of the deadlines for STC reimbursement phases and helped them navigate the method. Buy costs vary between $0.006 and $0.0137 per token and varies based mostly on buy historical past and exercise of particular accounts. This strategy goals to reward loyal customers, long-term holders, premium program members and direct purchases by means of STC Pockets.
How do I redeem my STC tokens?
Out there till October 9, 2024, handbook software of STC Pockets Redemption by way of OTC Redemption requires completion of KYC/KYB and AML procedures, in addition to submission of paperwork to show supply of funds and supply of wealth. Extra particulars might be discovered at StudentCoin.org.
The final and longest-lasting buyback choice, accessible till April 9, 2029, includes an on-chain operation and permits for 2 approaches:
– Uniswap V3 transactions on USDC,
– chain burning process.
Uniswap transaction is beneficial for low STC volumes as a result of safety causes and doable liquidity constraints. It includes depositing tokens into the Metamask pockets and changing them to USDC by way of the suitable pool on the Uniswap decentralized change.
As a substitute, beneficial for bigger quantities, you should use the on-chain burning process by merely sending all of your STC tokens to the burning deal with https://etherscan.io/deal with/0x0000000000000000000000000000000000 useless immediately from your personal pockets. In return, you’ll obtain the corresponding worth in USDC transferred to you by the STC workforce. You’ll be able to learn your entire course of at studentcoin.org.
The method is totally clear as all blockchain transactions are seen. After the deadline, all STC tokens can be burned anyway. The utmost ready interval for a refund within the case of a series burn process is three months.
