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Student Coin Redemption: Team Announces It Will Buy Back All Stc Tokens in the Next 5 Years

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7 months ago

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Student Coin Redemption: Team Announces It Will Buy Back All Stc Tokens in the Next 5 Years

Student Coin announced the launch of the Student Coin Redemption program on Apr. 9 to buy back all STC tokens from holders across the project’s platforms.

 

This initiative follows careful consideration by the team and marks the end of the Web3-focused development and education project. According to the official announcement by the project’s team, each Student Coin refund has been calculated on an individual basis. The calculations took into account factors such as the respective purchase prices of all the tokens and whether the STC coins were received via an airdrop or not.

 

During the Student Coin Redemption, tokens will be purchased at a price much higher than the current market rate, wrote the team. All of the project’s available funds, which were initially set aside to develop Student Coin, will also be put towards the redemption process.

Student Coin Background

 

Founded by a group of students from Warsaw, Poland, Student Coin was initially named“ALK Token.” The crypto quickly gained traction following a series of airdrops to students at Kozminski University and other Polish institutions. This heightened interest was enough to earn the crypto a spot on the Waves Exchange, setting the stage for international airdrop campaigns. By the end of 2020, STC reached 15,000 students from over 500 universities across the globe.

 

The Team Pushed to Bring More Value to the Token

 

The team sought to keep the positive momentum going by introducing more value into the Student Coin community. This led to the establishment of the STC Academy – a comprehensive online resource that covers topics such as blockchain, crypto, and personal security within the Web3 space. 

 

Additional funding sourced by the team was then utilized to develop more sophisticated products such as the STC Wallet, an exchange and a terminal that students could make use of to deploy their own tokens. The years that followed saw the continued enhancement of these products, as well as the launch of Coinpaper, a fast-growing news outlet that has achieved an average monthly growth rate of around 19.75%.

 

Build up to the Student Coin Redemption

 

Several factors influenced the final decision to bring an end to the Student Coin project. Together with how difficult it has become to allocate capital towards growing the token’s fundamental value, other hurdles, such as the legal uncertainty surrounding the crypto space, as well as the mounting pressure on the team, were the main reasons that led to the decision to launch the Student Coin Redemption.

 

The crypto community’s prioritization of a crypto’s speculative performance over its overall development has exerted additional pressure on the Student Coin team, the team said in the announcement. This is especially true following STC’s meteoric 13,000% rise to an all-time high of $0.06599 per token after its listing in 2019. According to the team, this rapid ascent has resulted in unrealistic expectations from some in the community.

 

Realizing That the Expectations Were Too High

It quickly became clear to the Student Coin team that delivering on these high expectations would prove to be extremely difficult. Products, including the STC University, STC Academy, Coinpaper, STC Wallet, and the STC Terminal, were not enough to meet the community’s expectations. Increased spending for the development of the Student Coin ecosystem also did not have the desired effect, prompting the team to re-evaluate the project’s future direction.

Source: STC Token Price History

                                         Source: STC Token Price History

 

Regulators have turned their attention to the burgeoning crypto space following the collapses of FTX, Celsius, and Luna as well. With the crypto space continuously evolving and the regulatory uncertainty that still clouds the digital asset sector, the Student Coin team said it has been restricted in terms of developing STC and the Student Coin offering. This is the reason planned initiatives such as converting the STC Wallet into an exchange and the expansion of the STC Terminal for partner startup crowdfunding were put on hold, according to the announcement.

 

With all of these factors considered, the team decided it would be best to buy back and then burn all STC tokens across the ecosystem through the Student Coin Redemption. This buyback initiative will be performed simultaneously across the STC Wallet and various open-market platforms such as the centralized exchange KuCoin and the decentralized Uniswap. Holders trading in the open market will also be able to sell their STC tokens on other platforms that support the crypto. The whole process of $STC token redemption is very complex and seems to take care of every token holder, which is outstanding in the cryptocurrency world. The Student Coin community expresses its support for the team in project chats and on social media.

 

The 5.1 billion tokens held by the Student Coin team will also not be redeemed and will instead be burned immediately with the aim of maintaining a high level of transparency during the Student Coin Redemption process.

 

Certain Holders Will Be Prioritized During the Student Coin Redemption

 

The Student Coin Redemption is a massive undertaking, given the varying backgrounds of all of the STC token holders. These token holders range from airdrop recipients to people who purchased STC tokens at different market prices throughout the project’s 5-year existence. In an effort to accommodate all holders fairly, certain groups will be prioritized by the Student Coin refund.

 

https://twitter.com/studentcoinorg/status/1778023552505041071

 

Tailored strategies have been designed for each group of holders to streamline the entire process. Participants of the STC launchpad will receive preferential treatment, said the announcement. Meanwhile, members in the Premium Holder Program will receive enhanced rewards during the Student Coin Redemption.

 

STC Wallet users will also be prioritized, with an “Aggregated Redemption Price” already calculated for all tokens housed in the project’s official wallet. This price was calculated based on each user’s transaction history and activity level within the STC Wallet.

 

Student Coin Redemption Deadlines

 

The Student Coin Redemption commenced on Apr. 9 at 4:00 PM (UTC). Due to time sensitivity, the project’s team has opted for a phased approach. 

 

https://twitter.com/studentcoinorg/status/1780553703503651171

 

Tokens within the STC wallet will need to be redeemed by Jun. 9, 2024. Meanwhile, anyone who submits a redemption request will have the deadline extended to Oct. 9, 2024. Holders holding their tokens outside of the STC Wallet will also have until Oct. 9, 2024 to exchange their STC holdings on centralized platforms. Meanwhile, the Student Coin Redemption cut-off date for holders using the decentralized exchange Uniswap V3 is Apr. 9, 2029.

 

Tokens that are not redeemed by the above dates and are kept in the STC Wallet will automatically be burned. The funds that were reserved for the redemption of these STC coins will then be utilized as liquidity in the open market. More specifically, the capital will be used to enhance the pricing of STC on the open market to ensure the economic stability and value retention of the crypto over time, the announcement said.

 

Several Options Have Been Made Available for Holders

 

Token holders have several avenues to exchange their tokens during the Student Coin Redemption. For anyone who has tokens in the STC Wallet, the process can be completed directly within the application. Tokens on centralized exchanges or platforms other than the STC Wallet will need to be sold on the open market. For more information regarding the different ways STC can be redeemed, the team has provided the following graphic:

Different ways to redeem STC tokens during the Student Coin Redemption (Source: Student Coin)

 

The Student Coin team also emphasized that it will no longer be possible to deposit or withdraw STC tokens with the STC Wallet after Apr. 4, 2024. This is because prices for these tokens have already been locked in based on a snapshot taken that day.

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Press Release

UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections

Published

17 hours ago

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November 23, 2024

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DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.

Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”

The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.

In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.

The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Press Release

UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

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17 hours ago

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November 23, 2024

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DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.

Global Compliance Credentials of UVKXE

UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:

U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.

U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.

Background on the Malaysian Public List

The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.

Commitment to Legal Compliance and User-Centric Values

UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Press Release

UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms

Published

17 hours ago

on

November 23, 2024

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DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.

Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”

The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.

Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”

In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.

Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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