<Important Update regarding KYC, Convertible Balance, Libra and P2P Transfer!>
Explorers, we are all excited by the rapid development of the Star Network community. The core team has just released white paper version 1.1 addressing the latest development of Star Network. https://www.starnetwork.io/news/616318d3ad9c500fe01b3f78
Here is a summary.
1 - Convertible Balance vs Nominal Balance vs Realized Balance
Introduced a new feature of Convertible Balance, other than the original Nominal Balance and Realized Balance.
2 - Libra for KYC Slot + Converting to Realized Balance
Introduced a new token named Libra. Libra is an unlocking token which you can use to 1) get a KYC slot 2) unlock the current Convertible Balance into Realized Balance.
3 - Peer-to-peer Transfer
Even though you have not passed KYC yet, upon each peer-to-peer transaction of Star, 0.3% of Star token will be burnt.
4 - KYC / Libra Drawing Timeline
No worries, we’re confident to see that happen mid-Nov 2021.
For more, pls refer to the app.
Explorers, we are all excited by the rapid development of the Star Network community. The core team has just released white paper version 1.1 addressing the latest development of Star Network. https://www.starnetwork.io/news/616318d3ad9c500fe01b3f78
Here is a summary.
1 - Convertible Balance vs Nominal Balance vs Realized Balance
Introduced a new feature of Convertible Balance, other than the original Nominal Balance and Realized Balance.
2 - Libra for KYC Slot + Converting to Realized Balance
Introduced a new token named Libra. Libra is an unlocking token which you can use to 1) get a KYC slot 2) unlock the current Convertible Balance into Realized Balance.
3 - Peer-to-peer Transfer
Even though you have not passed KYC yet, upon each peer-to-peer transaction of Star, 0.3% of Star token will be burnt.
4 - KYC / Libra Drawing Timeline
No worries, we’re confident to see that happen mid-Nov 2021.
For more, pls refer to the app.
www.starnetwork.io
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<1st Rate Halving Completed!>
On 11 Oct 2021, Star Network officially recorded 500k users worldwide within 41 days since launching.
As introduced in our white paper, rate halving is an important measure to foster the sustainable growth of the value of Stars, this is also a mechanism to reward early Explorers for their vision and effort. Explorer earning rate is now halved from S 1.6 / hour to S 0.8 / hour. This also means that Booster bonus earning will be halved from S 0.4 to S 0.2 / active booster / hour. The new halved rate became effective and changed automatically once we reached 500k registered users. It would apply in the new earning section once you finished the current earning section.
We’ll execute our 2nd rate halving upon the milestone of recording 2M users worldwide. As it takes only 41 days to grow to 500k from scratch, we’re all excited to see how long it takes to reach 2M.
Stay tuned for our new development in Libra Drawing (KYC) and P2P transfer, forecasted to be rolled out in mid Nov!
On 11 Oct 2021, Star Network officially recorded 500k users worldwide within 41 days since launching.
As introduced in our white paper, rate halving is an important measure to foster the sustainable growth of the value of Stars, this is also a mechanism to reward early Explorers for their vision and effort. Explorer earning rate is now halved from S 1.6 / hour to S 0.8 / hour. This also means that Booster bonus earning will be halved from S 0.4 to S 0.2 / active booster / hour. The new halved rate became effective and changed automatically once we reached 500k registered users. It would apply in the new earning section once you finished the current earning section.
We’ll execute our 2nd rate halving upon the milestone of recording 2M users worldwide. As it takes only 41 days to grow to 500k from scratch, we’re all excited to see how long it takes to reach 2M.
Stay tuned for our new development in Libra Drawing (KYC) and P2P transfer, forecasted to be rolled out in mid Nov!
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