Education-focused crypto startup Student Coin has published its new white paper, where it outlined the main changes to its ecosystem aimed at strengthening its market presence and bringing more value to STC token.
The new white paper was released on November 3, as CEO Wojciech Podobas, VP Maja Synowiec, CPO Jakub Kozakiewicz, and MD Cezary Tabota made an appearance in an explanatory video about the new chapter in the project’s development. The presentation will be followed by an AMA session with the CEO and VP on November 7, where every community member will have a chance to get their questions answered.
"2021 was a year of a lot of changes in the world. There was a major shift in the global economy, in the cryptocurrency market, as well as in technological matters. It’s important to note that our white paper and our prior assumptions were made in 2019 when we were not sure about the future of the economy. This is why we’d like to publish and update our white paper to show you possible evaluations and future plans for product development," Wojciech Podobas said in a video.
"Our vision is still to educate people about the blockchain technology, to spread the values of crypto assets, and to build the business and fundamental value for STC token holders," he added.
Initially founded with a mission to marry crypto and academia, Student Coin pioneered a zero-code platform that allows students and organizations to seamlessly launch their tokens and sell them directly to investors through the STC Terminal.
STC is the native token of the Student Coin ecosystem that serves as a reference currency for all operations within the network — by holding STC, the user is basically holding a fraction of every token ever created on the platform. The token can also be used for Premium holder program and voting purposes.
According to the new vision, Student Coin will ditch its efforts to secure academic collaborations and will focus instead on providing the community with quality education on all things crypto. The reason for such a decision is academia’s general wariness towards the crypto industry. As the white paper pointed out, such institutions “have a very conservative and restrained attitude towards activities that are not fully regulated by law, as they do not undergo procedures and are perceived as risky.”
“Our purpose is to explain that cryptocurrencies have the potential to transform the world and should not be identified with scams, fraud, and money laundering,” the document added.
The reinvention of Student Coin as the community education hub also means that it will not continue its STC Ambassador Program. Instead, the project announced its plans to revamp STC Academy with high-quality videos and articles. And Coinpaper, the project’s news portal, will certainly play its role in this new venture — despite the ongoing bear market, the newly launched crypto media doesn’t slow down its hiring efforts and continues to scale up, gradually building its position in the industry.
Another significant change is STC Wallet becoming the core of the ecosystem, as its functionality will be expanded with STC DAO Voting that will distribute generous rewards to the active community members. Along with STC Wallet's new features, the team will work on the development of the STC App that will onboard thousands of mobile-only users to the Student Coin ecosystem.
The white paper also outlined a new vision for STC Exchange, announcing a pivot in favor of decentralization. Instead of a centralized exchange, as was initially planned, the Student Coin team opted to co-creating Logium, a decentralized betting platform that allows users to go long or short on any token on Uniswap.
“After numerous lively debates and profound analyses, we have made one of the most vital decisions from the beginning of our operations. We have decided to emphasize the future of finance and suspend the development of STC Exchange while moving resources, time, and people to help develop Logium,” the team elaborated on their decision.
“Currently, Logium is the only protocol in the market that offers such features as the prediction of the token price at DeFi. Moreover, it gets upgraded every week by introducing new features with the final goal of involving any market and asset. We seek to assure our community that Logium will continue to be a part of the STC Ecosystem and bring value to the STC Token as the only primary token connected to the platform,” the white paper added.
Finally, the last innovation that Student Coin sees as shaping the entire ecosystem is the new Research & Finance department tasked with managing STC.XYZ — a curated portfolio of low-risk financial products. The funds from STC.XYZ allocations will generate a constant stream of passive income dedicated to the further development of Student Coin products.
Under the new changes, Student Coin will become a more decentralized, crisis-resistant, and secure ecosystem. It will continue to scale its operations, bringing more value to the STC investors and community.
“As the industry is changing so quickly, we believe that education is the most powerful weapon with which one can change the world for the better. We continue to educate ourselves to scale our ecosystem and improve our products while keeping up with the pace of change — financial, legal, and technological,” Student Coin VP Maja Synowiec said. “This is why we also aim to educate our community and build awareness about the arising opportunities of a still-nascent web3 space, as we believe that it will be a massive disruptor for our lives.”