On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
PRESS RELEASE. Since its inception, Statera has had a singular goal: “to put cryptocurrency into every portfolio”. Statera is a first-of-its-kind asset that offers a unique exposure for any user: an immutable, global, decentralised and deflationary asset. On top of this, Statera threads through multiple liquidity pools, allowing users to easily and instantly diversify into digital assets. This also created a first of its kind: the Deflationary Index Fund.
Statera possesses many of Bitcoin’s traits and in some aspects, even surpasses them; it’s cheaper to transfer, more decentralized, and more upgradeable (Statera runs on the Ethereum chain which is constantly upgrading, as opposed to Bitcoin’s stationary development timeline). Statera also has positive benefits for users and economies, due to its deflationary and immutable nature (read more in the whitepaper under: “A Deflationary Currency”, or read this article and linked research).
Bitcoin has thrived due to its relative simplicity as an immutable ledger of a digital asset. Statera builds on this elegance as an immutable ledger of a deflationary digital asset, which reduces its own supply by automatically destroying (“burning”) 1% of every transacted amount. It is a simple and straightforward asset. The aim is for it to become a global and accepted deflationary store of value and it needs this simplicity in order to achieve that. Statera remains the leading deflationary asset in terms of longevity, proven track record, design, and innovation. However, this fame is mostly within the more niche cryptocurrency spaces, pushing the project to pursue greater awareness and recognition in the broader crypto community.
Statera meets the three requirements needed to become a global store of value: utility, network effect, and trust. Trust is built into the foundation: Statera’s smart contract (audited by Hacken) is locked forever, with its total supply in circulation. Statera is fully distributed with no individual wallet possessing more than 2% of supply. Statera’s widespread usage in liquidity pools increases its efficacy through increased arbitrage opportunities and volume – the further Statera is deployed, the greater its value proposition.
The Introduction of Wrapped Statera
The deflationary nature of STA meant that the token is incompatible with certain platforms and exchanges, including Balancer and DEX aggregators such as 1inch and Matcha. The success of the newly re-launched environment is due to the deployment of the Wrapped Statera contract, wSTA. This new token can only be minted or unminted from Statera’s token STA via the “wrap” and “unwrap” functions in the wSTA contract. After converting STA to wSTA, that wSTA does not deflate with each transaction. However, every creation or destruction of a wSTA – or the trading of STA for wSTA – will create deflation.
With wSTA, STA can be placed into any ecosystem neatly and securely. This will allow STA to be spread far and wide (increasing network effect), and to be used in more systems (increasing utility).
The Statera Ecosystem in Operation
Statera’s extended ecosystem is made up of various liquidity pools, in which all tokens maintain a share of the portfolio’s value through the use of a smart-contract portfolio manager. When an asset’s ratio increases relative to the others, the portfolio will rebalance itself by selling the token that has gained value, resulting in fees paid to the liquidity providers. The deflationary aspect of Statera inside these pools results in increased volumes as liquidity grows; the higher the volume, the higher the fees.
Since wSTA’s inception one month ago, nearly 17 million STA tokens (approximately 19% of the circulating supply) have been wrapped. The wrapped tokens have been utilized in both dual- and multi-asset liquidity pools, which then benefit from the Statera token’s burn to increase arbitrage opportunities, which in turn result in higher transaction volumes and dividends from pooling fees.
The flagship Balancer index pool (consisting of wSTA, BTC, ETC, LINK, and SNX) has grown to over $1.5m liquidity in under a month, and has delivered up to 50% APY from trading fees and BAL rewards alone – considerably higher than other comparably-sized pools. This astonishingly high return speaks to the appeal of Statera’s design and the ecosystem’s value proposition.
The significance of wSTA cannot be overstated. It allows Statera to be introduced to any protocol or ecosystem, even those not specifically designed to account for the deflation. Better yet, the creation and balancing of wSTA to put into these new systems and protocols will create deflation and hold true to the founding vision of Statera being a deflationary supply asset, in contrast to Bitcoin’s inflationary supply, or Ampleforth’s elastic supply. This opens up a whole new world of exciting possible use cases for STA. With all of these benefits and an emphasis on utility and network effect, Statera’s sights are firmly set on becoming a global and immutable deflationary asset.
Is Statera Secure?
Statera has had multiple audits completed for its tokens. In June of 2020, an exploit occurred involving Statera’s Balancer pool, but was not a direct exploit of Statera’s code. The attacker found a method of exploiting Balancer Labs, attacking several pools which contained tokens using a fee on transfer (FoT) model. Statera and Balancer have since reimbursed all affected holders, and the STA token with FoT has been switched with ERC-20 compliant wSTA.
Media Contact: support@stateratoken.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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