STAhp! It's Hammer Time: STA Overview

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Avatar for meitanteikudo
2 years ago
Topics: Crypto, Crypto Trading, BCH, STA, Statera, ...

Once again, I found myself floating around aimlessly in the cryptoverse. Grasping for oxygen and some familiar grounds, I stumbled upon this interesting digital asset. It was my first time reading about it and I was truly curious. And here's what I have found about it.

What is STA?

STA stands for STATERA. Apparently, it's a token, and not stamina. Lol. I know most of us have the need to strengthen and improve our stamina but STA will not provide us with that.

STA is a token that is born within the Ethereum blockchain. It is the main token that stemmed from the Statera Project.

In short and simple terms, the Statera project aims to have a cryptocurrency that is deflationary and that will benefit the holders with increasing volume and decrease the volatility of the asset.

Decreased volatility? How is that even possible?

As they described in their publications, there will always be 1% STA burned on every transaction. As they like to visualize in their examples, when you convert a STA to wSTA, 0.01 of it will be burned as part of the transaction.

wSTA or wrapped STA is another of their token which you can use if you want to use STA on another chain or protocol.

Deflationary, that is the word and the idea that they would like to sell in the cryptoverse. And that idea can be accomplished through the continuous burning of assets in every transaction, at least that's what they claim.

And there is a simple philosophy behind that enormous claim.

Deflation happens in every transaction and it basically reduces the overall circulating supply because a percentage of the supply will be burned thus improving the scarcity rate and in turn will increase the price pressure of the asset.

Without really going into the technical nitty-gritty, first because I can't and I also couldn't find much information that even a noob like me could understand, it seems that the project aims to create a token whose price could only go up and up.

Arbitrage is also another word that the project really highlights. they say that STATERA Project offers a lot of Arbitrage opportunities. What on Earth is this arbitrage? Sounds like a mirage created by my knowledge-thirsty brain.

As per the quick reading I have done, arbitrage is a term used in trading which means the simultaneous purchase and sale of the same stock. How does that translate in cryptoverse?

Here's a scenario that can better give you an image of an arbitrage:

A BCH is being sold in Binance for $400 a piece, while on Bityard you can sell your BCH for $400.05. If you are a trader with a lot of buying power, you can buy a bunch of BCH on Binance and sell them on Bityard and you will realize a 0.05 profit per BCH. It's not that huge of a difference, but that's arbitrage in action.

So why do they say that they offer a lot of arbitrage opportunities? Simple, because they have essentially two tokens with the same value. STA and wSTA(wrapped STA) are virtually of the same value. Although the trading ratio between the two assets is 100:99, traders could really capitalize on that if they know how to seek the right exchange at the right time.

Where to buy STA?

STA is pretty much listed everywhere. You can trade for it on the popular digital exchanges and you can directly buy STA on Uniswap and Spookyswap. I haven't bought mine because, surprise surprise, I don't have much to spare and I'm not ready to spend some BCH for this one. Maybe next time.

Hi there!!!

As you may have ascertained from this very article, I'm not a master in cryptoverse and this is definitely not a financial advice but I'm learning through experience, reading, writing, and through sharing with you as if we're in classroom filled with hungry minds.

I really appreciate you taking this journey with me and of course your visit. If you like this one, you know how to show appreciation, eh? :)

That's it from me and until we read again...

Cheers!!!

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Series    : All About Crypto
Title     : STAhp!!! It's Hammer Time
Published : 19-Feb-2022
Author :  © RB

References:

Bitcoin.com Media. (2021, January 29). Statera – a Global Deflationary Asset. Bitcoin News. Retrieved February 18, 2022, from https://news.bitcoin.com/statera-a-global-deflationary-asset/

Exploring the Statera Ecosystem & Statera Token (STA). (2021, December 17). Moralis Academy. Retrieved February 18, 2022, from https://academy.moralis.io/blog/exploring-the-statera-ecosystem-statera-token-sta

How and Where to Buy STATERA (STA) – An Easy Step by Step Guide #STATERA $STATERA #STA $STA #btc #crypto #cryptocurrencies #cryptobuyingtips #blockchain #binance #cryptotrading. (2022, February 17). Crypto Buying Tips. Retrieved February 18, 2022, from https://cryptobuyingtips.com/guides/how-to-buy-statera-sta

What Is Arbitrage? (2021, August 30). Investopedia. Retrieved February 18, 2022, from https://www.investopedia.com/terms/a/arbitrage.asp#:%7E:text=Arbitrage%20is%20the%20simultaneous%20purchase,in%20the%20asset’s%20listed%20price.&text=Arbitrage%20exists%20as%20a%20result,those%20inefficiencies%20and%20resolves%20them.

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2 years ago
Topics: Crypto, Crypto Trading, BCH, STA, Statera, ...

Comments

I would check it out, don't know if it is listed already, I hope it would use the smartBCH network

$ 0.00
2 years ago

it is listed already. It's quite an old token too.

$ 0.00
2 years ago

Diba STA na din ung pinalit sa FARM for tipping?

$ 0.00
2 years ago

sa P0x? yes yes.. Ayun. kaya ko nga lang nalaman yan. hehe

$ 0.00
2 years ago

I no longer involve myself in any project that's not on BCH or sBCH chain

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2 years ago

cool! Loyal. I like it!

$ 0.00
2 years ago

Ang daming token na.

$ 0.00
2 years ago

haha sana madami akong token din hahha

$ 0.00
2 years ago