What is Student Coin?
Student Coin is a platform set to allow users to design, create, and manage personal, NFT, or DeFi tokens. These tokens can be used for crowdfunding, trading, governing, or payments. Currently in its “Launchpad ICO” phase, which is set to end in late April, STC has raised over $8 million in funding so far well on its way to its $21mil USD hardcap.
The Student Coin Token itself is to be the reference currency for all tokens created and listed on the Terminal. That is one of the three different utilities of the token. The others are staking which will allow investors to generate passive income from exchange fees, and governance which will allow voting and funding of projects. These utilities are also the primary growth mechanisms of the token.
Student coin is operating on two blockchains, Ethereum and Waves, which puts ERC20 at the core of the project. This connection in particular is used to leverage the low transaction costs on Waves blockchain and can be swapped between chains through their Ethereum-Waves bridge.
What is the STC Terminal?
As is said by the platform’s goals, anyone will be able to create tokens on the platform and the Terminal is the app that someone would use to do so. According to the whitepaper, STC Terminal will offer many different tools to help developers support their tokens. Some of these tools will include a communications panel, twitter feed, marketing activities, and general utility management. STC will be used to power additional token options within the Terminal. Some of these options include more advanced token creation, airdrops, more utilities, and more.
Some of the available token utilities will really help drive projects. All STC-based tokens will be listed on the Exchange by default. Some of the other options are business options such as token staking, fixed supply or more technical options like governance or NFT settings.
This was my very brief overview of the project per the whitepaper and website, but here are some of my personal thoughts on it.
Although it is still very young, I do think it shows some promise. There isn’t a lot to show for it right now, but the prototypes they have up and running seem nicely designed and some of the ideas do show promise. One of the more interesting use cases of the token that they have offered is the future ability to pay tuition costs with it. (Other use cases can be found here) I think anything that makes education more accessible is a good thing, and if they can truly get some colleges and universities on board I think that will only boost the project. Currently, though, they are supported by student unions within over 400 educational institutions.
STC Education is another interesting part of the ecosystem. Currently it offers ‘classes’ on blockchain and the evolving technology. This will continue to evolve in an effort to promote overall adoption of cryptocurrency in many different forms. More information on this and other parts of the ecosystem can be found here.
I am by no means an expert in crypto, so my opinion is just that but I think it does have some interesting ideas driving it and I think it is at least worth a look. I’ll be interested to see how the project grows once they get the funding goal.