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What is Starcoin?

STC is the native token of the Starcoin network, with a total constant issuance of 3,185,136,000. Currently, it is mainly used for: 1.

Full description of Starcoin

STC is the native Token (?) of the Starcoin network, with a total constant issuance of 3,185,136,000. Currently, it is mainly used for: 1. Paying the GAS fee of the transaction. 2. Paying the state space fee (after the future state billing mechanism is activated). 3. The voting of on-chain governance. In the future, as the on-chain ecosystem becomes mature, STC will have more and more application scenarios. The Genesis Token Distribution For Starcoin, all Tokens are first-class citizens on the chain, so STC also conforms to the Token specification of Starcoin. After each type of Token is generated, the issuing account will get the seigniorage, and only the accounts with the seigniorage can mint the Token. The genesis account 0x1 is the issuance account for STC, which is only used for the generation transaction and the meta transaction execution of the blocks (similar to the coinBase exchange (?) transactions for Bitcoin). In the generation transaction, the genesis account will mint all STCs at once and deposit them in the treasury, and then revoke the seigniorage to ensure that no more STCs can be issued. Then the following operations will be performed: · 159,256,800 STCs (5%) are withdrawn and transferred to the Starcoin Foundation account (0xA550C18) and will be distributed to early investors. · A linear withdrawal right with a 3-year release period of 255,129,390 STCs (8%) will be issued to the Starcoin Foundation for ecological construction. · A linear withdrawal right with 3-year release period of 222,641,010 STCs (7%) will be issued to the Starcoin Foundation for core project development. · The withdrawal rights of the Treasury will be locked in the DAO, and future withdrawals from the Treasury can only be performed through on-chain governance. Note: The linear withdrawal right is only a credential of ownership, and Tokens are not involved in the transfer. The owners can periodically withdraw the Tokens from the Treasury that are linearly released by owning the withdrawal rights.
  • Exchange symbol (?): STC
  • Cryptocurrency type (?): Token (?)

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