Stater, an open-source peer-to-peer lending platform for NFT assets, will collaborate with TrustSwap and CyberFi in their upcoming IDO token offering on March 16th 2021 at 9:00 AM PST. The $STR token is being offered in a FlashLaunch hosted on the TrustSwap Launchpad. You can read more about FlashLaunches here.
Stater In the Spotlight
Stater aims to help users unlock the value of their NFT assets without losing ownership, by developing a complete ecosystem for borrowing and lending of NFT assets.
The Stater lending platform is non-custodial and will facilitate transactions between lenders and borrowers including both marketplace lending and pool lending. In both options, Stater will act as a non-custodial escrow between lenders and borrowers.
- With marketplace lending, borrowers will list the NFTs on the market by using single or multiple assets as collateral and lenders will be able to provide liquidity to the loans that they find attractive.
- With pool lending, borrowers will have the option to get a fast loan that will be provided by a lending pool. Lenders will have the option to commit liquidity in the Stater liquidity pool and receive daily rewards based on the total amount of payments made by borrowers and the percentage of liquidity owned from the total pool.
Stater V1 is currently available on Rinkeby for testing: https://lending.stater.co
Participation and Allocation
- Each FlashLaunch will have a set individual allocation of exactly $500 per person. There will be 90 slots available.
- Applicants to a FlashLaunch can apply on launch day between 9AM and 9PM PST at https://dashboard.trustswap.org/app/launchpads.
- Once all applications are registered a number of tickets will be assigned to each participant based on their SwapScore (see table below). The snapshot for the ticket allocation will be taken at 9 am PST on 16th March, 2021.
- There will be a random drawing for the $500 allocations. The more tickets you have, the higher your chance of being selected.
- Each person can only win once per project.
- 5 “Golden Ticket” NFTs will be minted by TrustSwap which will each unlock access to a guaranteed $500 allocation for that specific launch (pending KYC verification).
- These NFT’s will be initially sold at auction by TrustSwap here on Rarible.com. The auction will run until March 15th at 9AM PST (24 hours prior to the FlashLaunch).
- The top 5 highest bids at that time will win the NFT’s. There is no minimum bid. To visit the auction click here
- The Golden Ticket NFT’s can be traded and resold on any NFT marketplace for 24 hours prior to the FlashLaunch.
- Whoever holds the NFT at the “snapshot” time when the launch begins will be whitelisted for an allocation (pending KYC). The snapshot for this will be taken at 9 am PST on 16th March, 2021.
- 10% of the proceeds from Golden Ticket sales will go to the Eden Reforestation Project, a non-profit focused on planting trees and saving lives.
- Only one Golden Ticket can be used per FlashLaunch but those who win the drawing can also use a Golden Ticket to receive an additional $500 allocation for a maximum total of $1000.
Secure Launch Process
To ensure a smooth launch, the Stater team has agreed to:
- Have their domain fully SSL certified one week prior to token sale date.
- Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to the token sale date.
- Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.
- Add no less than $100,000 of ETH liquidity on Uniswap immediately upon listing.
- Distribute tokens to launchpad participants within one hour of Uniswap listing using multisend.io.
- Lock liquidity within 3 hours of listing for no less than 60 days at http://team.finance/.
- Provide the timeline for token distributions and distribute tokens within a one-hour window of the agreed-upon time.
- Lock 75% or more of team & dev fund tokens for a minimum of thirty days on http://team.finance/ within 6 hours of funding liquidity on Uniswap.
- Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on Uniswap.
- At any time on March 16th from 9:00 AM to 9:00 PM PST, go to https://dashboard.trustswap.org/app/launchpads and click the button to apply and fill out the form.
- Applicants will be given a number of tickets into a random drawing relative to their SwapScore (see above chart for details).
- Winners of the draw will be contacted via Email within 36 hrs to provide their KYC documents. Monitor your E-mail closely (including any “Spam” or “Promotions” folders). Once the email arrives, you will have 24 hours to provide your KYC details.
- Approved participants will be contacted again via email with payment instructions.
- Five allocations will be reserved for Golden Ticket Holders
- The last 10 people selected in the drawing will be on ‘stand-by’ and will have the first option to participate if there are any unsold tokens after the initial rounds are complete including any unused Golden Tickets.
- Uniswap Listing date: 20th March, 2021
Who Can Participate?
Anyone who is not domiciled in the USA or UN sanctioned countries can participate in the Stater token sale.
Click Links Below to learn more about Stater
** Launchpad dates and details are subject to change. This is not an endorsement, partnership or an offer for investment by TrustSwap. Stater is using the TrustSwap Launchpad as a customer with specific requests as to how they need their launch to operate. TrustSwap is a provider of non-custodial, smart-contract-based software services. Digital assets carry a high level of risk. Participation is performed at your own risk. Exercise caution and conduct your own due diligence.