The clock is ticking for Pupil Coin holders. The STC Pockets customers have lower than three months to redeem their tokens. The redemption course of was launched on April 9 this yr, with a number of levels scheduled for a complete of 5 years.
The primary and second deadlines for redeeming tokens inside the STC pockets (routinely) and thru centralized exchanges have already handed in June. The third stage, set to finish on October 9, 2024, includes submitting a Redemption Request and requires direct contact with the Pupil Coin workforce. The ultimate part, which can proceed till April 9, 2029, permits customers to promote their tokens on-chain.
What’s Pupil Coin, and why is it shutting down?
Pupil Coin was launched in 2019 by a gaggle of scholars from Kozminski College, a Polish enterprise college. The mission’s main goal was to discover blockchain capabilities and encourage academia to embrace crypto applied sciences. The experiment proved a hit and led to additional initiatives, together with creating the STC Pockets, launching the STC Academy, and, lastly, establishing Coinpaper.com, presently one of many main crypto information portals.
After a interval of speedy progress and spectacular valuations, the STC token confronted a difficult setting. Financial turmoil, business scandals, and regulatory uncertainty dampened its momentum. Regardless of navigating these stormy waters, the Pupil Coin workforce remained devoted. They launched new initiatives, refined current merchandise, and prioritized person safety throughout main crypto collapses like Luna, UST, FTX, Genesis, and Celsius.
Nonetheless, preserving the very best pursuits of the neighborhood at coronary heart, the Pupil Coin workforce has made the troublesome resolution to sundown the STC token and associated tasks, together with the STC Terminal, STC College, and others.
STC Token Worth Chart, supply: StudentCoin.org
After winding down the STC ecosystem, the workforce shifted its consideration to growing new tasks, with a particular give attention to Coinpaper. The crypto information outlet has been experiencing important progress, with a powerful month-to-month person improve price of almost 19.75%, suggesting a vibrant future forward.
The best way to keep knowledgeable concerning the STC redemption course of?
All through the mission, the STC workforce prioritized transparency and accountable strategy to dealing with person funds. Customers can keep knowledgeable concerning the developments of the redemption course of by following the mission’s web site StudentCoin.org and Twitter. The workforce maintains direct contact with followers and posts frequent updates.
In line with latest bulletins, 82,86% of the STC complete provide and 100% of the tokens held by the workforce have already been burned. Moreover, between Might 30 and June 15, the tokens have been delisted from KuCoin, ProBit International, HitBTC, and all remaining centralized exchanges. The mission additionally closed its Telegram chat.
The workforce has been repeatedly reminding customers about deadlines for STC redemption levels and serving to them navigate the method. The redemption costs vary between $0.006 and $0.0137 per token and fluctuate primarily based on specific accounts’ buy historical past and exercise. This strategy goals to reward loyal customers, long-term holders, Premium Program members, and direct purchases by way of STC Pockets.
How can I redeem my STC tokens?
The guide STC Pockets Redemption by way of OTC Redemption request, obtainable till October 9, 2024, requires present process KYC/KYB procedures and AML checks, in addition to submitting paperwork that show the supply of funds and supply of wealth. You’ll find extra particulars at StudentCoin.org.
The final and longest-lasting redemption possibility, obtainable till 9 April 2029, includes an on-chain operation and permits two approaches:
– Uniswap V3 to USDC transaction,
– on-chain burn process.
The Uniswap transaction is really useful for low STC volumes attributable to safety causes and attainable liquidity limitations. It includes depositing tokens right into a Metamask pockets and changing them to USDC via a related pool at Uniswap decentralized trade.
In its place, really useful for bigger quantities, you need to use an on-chain burn process by merely sending all of your STC tokens to the burn deal with https://etherscan.io/deal with/0x000000000000000000000000000000000000dead immediately out of your self-custody pockets. In return, you’ll obtain an enough worth in USDC transferred to you by the STC workforce. You’ll be able to learn the complete process at studentcoin.org.
The method is totally clear, as all blockchain transactions are seen. As soon as the deadline has handed, all STC tokens can be burned anyway. The utmost ready time for a refund within the case of an on-chain burn process is three months.