What is StakeCube Coin? — A Short Story.
On June 13th 2018, StakeCube.net was born. Initially launching as a Proof of Stake (POS) + Masternode (MN) pool, StakeCube has become one of the biggest pillars for supporting the entire Masternode genre of cryptocurrencies. Some would even argue that without StakeCube, the entire Masternode and Proof of Stake space would be near dead. StakeCube has continued to innovate, expand, and operate both inside and out of the Masternode realm. Today, the platform serves for 140,000+ users and 74+ projects. Equipped with an Exchange, NFT marketplace, Large Cap Interest, Mining, node hosting, and with plans for continuous updates and growth. Later this year will be a update for the platform, dubbed as V3.
As for StakeCube Coin, July 29th 2018, SCC was born. Originally launching as a Proof of Work/Proof of Stake coin, by September 2018, SCC switched to POS/MN consensus models. Since the beginning of SCC there has been no crowd sales, or ICO’s. StakeCube decided to take a safer and much more organic approach by making the coin minable with Proof of Work to get the first initial supply out. This created a fair and even opportunity for the coin to get started.
After some time on the PIVX codebase, with the Proof of Stake/Masternode consensus model. StakeCube decided to shift focus towards 1st and 2nd generational cryptos. StakeCube Coin today is a Fork of Bitcoin + Dash. Mineable with Dash ASIC miners, and able to be locked up in Masternodes to earn ROI. There is over 6000+ Masternodes locked up, resulting in around 6,000,000+ StakeCube Coins taken out of circulation. Here is some details and metrics on the supply.
Coin- StakeCube Coin
Max Supply- 18,000,000
Consensus- Proof of Work/Masternode
Fork of- DASH X11 (ASIC Mineable)
Masternode Collateral- 1000 SCC
At the time of writing,
Circulating Supply- 10,703,964 SCC
Supply Locked in Masternodes- 6,529,000 SCC (61.00%)
Total Masternodes- 6,529
Actual Circulating Supply- 4,174,964 SCC
Total Supply Burned- 181,870 SCC
Total SCC Minted Each Day- 5,678 SCC
Estimated Masternode APY- 18.63%
Market Capitalization- $4,084,146
Price Per Coin- $0.38/955 Satoshis
Finite, Burnable, and Elastic!
StakeCube Coin has a low supply with only 18 million coins to ever be circulating at one time. Burnable by the users, and with a transparent burn address, which can be found here. The supply of SCC that gets burned is also elastic, since it is not permanently taken out of circulation, and can be reminted at the end of block cycles for rewards later.
Block Reward Cycles,
Targeted Block Times + Reward Cycles
Block times with StakeCube Coin aim for 2 minutes, and the current block height is at 374,836. The next reward change will be at block 500,001, which is a estimated 173.84 More days until the next deflationary drop in emissions. Sometime between October and November 2022 rewards will be subject to change. This emissions transparency helps determine a long term outlook to the supply and inflation. As mentioned above over 5,678 SCC created each day. After the next supply “halving” an estimate of only 4,968 will be minted daily, and so forth until next reward change.
StakeCube Coin is open source, the rich list is viewable, rewards are deterministic, and unlike many coins in the space, provides full updates and transparency with anything to do with the supply, Check out the rich list.
StakeCube Coin and its utilities,
Currency- First and foremost, like all other crypto currencies, StakeCube coin is also a currency. Spendable, transactable and like any other Open Source Cryptocurrency.
Governance- StakeCube Coin Masternodes are a form of governance, as well as the holders to SCC on the platform. There has not been any direct uses for this governance ability. However, this should come quite handy for a decentralized future, and something the team would like to create.
Exchange/Platform Coin- Similar to that of Binance’s BNB, or Uniswap’s UNI. StakeCube Coin is a Exchange and platform coin. Holders of SCC can unlock discounts on trading fees, bonuses on affiliate rates, and the biggest bonus on Large cap interest. Many users Hold SCC to unlock the maximum ROI on their Bitcoin.
SCP Chain Ecosystem- StakeCube Protocol (SCP) is one of the latest additions to StakeCube Coin. SCP is a custom and unique coded smart chain layer that has the ability for instant send transactions. A non EVM fully custom coded layer. StakeCube Coin acts as Gas to all transaction in the SCP ecosystem. In other words, SCC is the same as ETH, a full network where NFTs, Tokens, DeFi, Farms, Swaps, Liquidity Pools, and even play to earn games may be created.
Decentralized Finance- As mentioned above with StakeCube Protocol, opens the door for decentralized finance.
In the future things like oracles, plug in wallets, Smart Contracts and even interoperability with other chains will apply down the line with StakeCube and SCP.
Interesting Perk for Longevity,
StakeCube coin may eventually reach 18,000,000 SCC, However transactions will still generate rewards from SCC. and also the network growth of StakeCube Protocol will make validating very much worth it.
Burning Mechanism Already in place?
Anyone who decides to build a NFT collection on StakeCube Protocol, Must pay 10 SCC to the burn address in order to partake in SCP NFTs. A form of deflation, this is also the case for anyone who wishes to build a token on SCP. You can find more about SCP at SCPscan.
How does SCC relate to SCP more definition?
StakeCube Coin Masternodes and Miners, validate transactions on StakeCube Protocol as well as StakeCube Coin simultaneously and independently. SCP acts as a layer one in regards to SCC. Each time stakes are claimed, tokens transacted, NFTs minted, and smart contracts agreed upon, SCC acts as the Gas to power the network.
SCP Token Standards,
SCP-1 is a basic token standard. It allows creators to easily program a token name, ticker, and a maximum supply. Upon creation, no tokens will be minted. The mint command on the console allows token creators to mint new tokens, provided this doesn’t increase the existing supply above the maximum set at the start. This kind of token standard can be employed in use cases that require a certain degree of centralization, such as stable coins or tokenized services. SCP-1 tokens may also be burned, which reduces the circulating supply without affecting the maximum.
SCP-2 Tokens provide a greater degree of decentralization, allowing for more complex economic systems. SCP-2 tokens are also created with a name, ticker and max supply. However, the token issuer may only use the minting function once. Which is easily done by selecting a block reward that will be regularly distributed to all token holders. With each new block fully automatic, token holders will receive freshly minted tokens in their wallets, proportionally to their stake until the max supply is reached. Once total max supply is reached, staking will stop with no new issuance until coins are burned and circulating supply is reduced below the maximum. token holders will receive new coins in their wallets proportionally to their stake until the maximum supply is reached. Once max supply is reached, staking will stop due to token issuance halting. Once tokens are burned from the maximum supply, then staking may reoccur again. Use cases that would benefit from a fair and decentralized distribution are possible with this standard. It’s designed to avoid the possibility of rug-pulls, giving users peace-of-mind for their investments.
SCP-4 Tokens are the token standard for Non Fungible Tokens on SCP, NFT collections begin here, SCP-4 Offers a way to create unique and custom art and upload it to the blockchain, Holding up to files as big as 32 Gigabytes. NFTs may consist of images, Gifs or Videos with out sound. Future updates may enable sound NFTs to be created with SCP-4. However at this time sound is not enabled. This token standard allows creators to Name a collection, select its supply, and burnability. Once Collection is created, it then open to upload NFT art work.
To sum up SCP, things like Smart Contracts, Oracles, Plug In wallets, Tokens, DeFi, Staking, NFTs, wrapped tokens, farming, liquidity pools, play 2 earn games, and even dapps are possible with StakeCube Protocol. SCP may be the biggest value added to StakeCube Coin, do to the unlimited possibilities that can be done with the layer 1.5 solution that offers UTXOs + accounts on a lite wallet that requires no sync.
To put the nail in the coffin,
StakeCube Coin along with StakeCube Protocol are open source projects, We invite all NFT artists, game makers, DeFi tokens, and Platforms to come build on StakeCube protocol. If you are interested in learning more about StakeCube, Feel free to check out these links below!
Main SCP Discord- https://discord.gg/CqX2Ckkmu5