Stratis Completes Token Swap, Guns for Enterprise Blockchain Crown
25 October 2021 - 11:17PM
NEWSBTC
Blockchain technology company Stratis has concluded its latest
major update, with STRAX tokens replacing their STRAT predecessors.
The swap follows a vote that saw over 97.5% of token-holders
green-light the proposal, setting the stage for a revised tokenomic
structure, new incentive mechanisms and improved block times. In
total, over 93 million STRAT tokens have been converted 1:1 to
STRAX, representing 93% of the circulating supply. The remainder
were burned, effectively removing over 6.6 million tokens from
existence. With the deployment of a brand-new blockchain and native
token – not to mention the imminent launch of an NFT marketplace,
games and the Unity Engine SDK – Stratis is, like fellow sleeping
giants Cardano, Tezos and Polkadot, starting to wake up and make
good on its promises. Why Token Swap? Stratis users who failed to
exchange STRAT for STRAX can hardly complain: the platform
announced the changeover last October, with token-holders given a
whole year to install a STRAX wallet and exchange their old
outgoing assets. The high number of tokens swapped underscored the
simplicity of the process, which saw users trade STRAT
independently via a trustless on-chain mechanism, transfer their
tokens to an exchange that supported the swap (Binance, Bittrex,
Bithumb, etc), or manually swap them into STRAX using a tool
provided by the platform. The token swap was part of a raft of
changes made to the platform, with block times reduced, block
rewards increased, SegWit activated, and the introduction of both
cold staking and dynamic membership. The latter enables any user to
join the Cirrus sidechain as an acting Masternode – providing, that
is, they meet the collateral requirement of 100,000 STRAX. The
management and monitoring of masternodes have also been simplified
thanks to a newly-released operator dashboard. Stratis Enters
Shipping Season Designed to help Microsoft developers develop
blockchain solutions in a language they understand and love,
Stratis launched in 2016 as an enterprise-focused
Blockchain-as-a-Service company. In the years since, the platform
has poured an immense amount of resources into enhancing its
features and tooling, while onboarding companies from around the
world. 2021, though, has been something of a breakout year. Not
only is Ethereum interoperability imminent thanks to its InterFlux
solution, but Stratis recently launched a Unity Development Kit,
enabling the integration of NFTs and decentralized identities into
the gaming ecosystem. A number of gaming projects (Dawn of Ships,
Trivia Legend) are now busy building on Stratis’ proof-of-stake
blockchain, both due to its low-fee environment and 3D SDK. DeFi is
another area of exploration for Stratis, as highlighted by the
emergence of decentralized exchange protocols Opdex. Financed by
Stratis’ Decentralized Accelerator program, Opdex enables trustless
token swaps, liquidity provision, mining, and staking in a
non-custodial and gas-efficient manner. Recently released on the
Cirrus testnet, the DEX protocols aim to bring much-needed
diversity to the booming DeFi sector, which has largely centered on
Ethereum. Founder Tyler Peña believes the fact that Opdex coded in
#C means the ecosystem could “drastically increase the adoption
rates by developers while also decreasing the frustration of
learning new languages, frameworks and tooling.” Shaping Blockchain
Policy Although DeFi, NFTs and blockchain-based gaming are now very
much part of the Stratis universe, the platform remains, at heart,
enterprise-focused. As such, it remains committed to pioneering
use-cases, onboarding businesses and organizations, and working
with governments. Last month Stratis joined the UK’s All Party
Parliamentary Group on Blockchain (APPG Blockchain), which aims to
“provide evidence, guidance and recommendations to policy makers on
blockchain-related issues.” By acquiring a seat at the table,
Stratis – described by APPG Blockchain secretariat Birgitte
Andersen as “one of the UK’s most established and innovative
blockchain platforms” – will be in a position to influence and
inform the UK government’s decision-making when it comes to
blockchain initiatives. The spoils, of course, are considerable:
business investment in blockchain technology is expected to reach
almost $16 billion by 2023, up 40% from 2019. And with the wider
crypto market currently in rude health, Stratis seems
well-positioned to capitalize on the feel-good factor. Image
source: Depositphotos.com
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