Founded in 2019 by undergraduate students from Kozminski University, Warsaw, Student Coin (STC), a utility token experienced a rapid ascent from its humble beginnings to become a globally-recognized crypto project.
During the first year of the crypto’s launch, more than 15,000 students from over 500 universities from all over the world claimed free tokens.
This popularity catapulted STC onto the international stage, with the crypto scoring its first major listing on the Waves exchange and gaining exposure to a wider pool of users.
Since entering the market, Student Coin’s community erupted to over 300,000 members across all of its social platforms. However, mounting pressure on the team coupled with other factors have prompted the team to announce the Student Coin Redemption.
Bringing an End to STC Scam Rumors
When it comes to whether Student Coin is a scam or not, there is overwhelming evidence and several signs that the project and its team are indeed legitimate. Most notably, Student Coin has announced the Student Coin Redemption program, which is one of the biggest token redemption initiatives ever to take place in the Web3 space.
If Student Coin was a scam, the team would have just abandoned the project and disappeared. Their willingness to take on the massive task of buying back and burning all STC tokens from its users across all of their platforms serves as a strong indication of the team’s commitment to the project.
What’s more, STC scored listings on multiple exchanges. This includes top-tier centralized platforms such as KuCoin, Bittrex and HitBTC. Before any tokens can make their way on to these exchanges, the companies perform an in-depth due diligence into the project, its team and the token’s source code.
Only once the project has completed this rigorous process can it be listed on the exchange. In addition to this, the Student Coin team also got their token’s smart contract code audited and verified by the reputable auditing firm, Hacken.
Teams reach out to Hacken and similar 3rd party companies when they want to build trust with their community. This is because the auditing process often extends beyond just the token’s code.
The project’s whitepaper, roadmap and its team members are scrutinized as well. Taking all of these aspects into consideration, the auditing company then gives the company a score out of 10.
Normally, a score above 5 or 6 is adequate and signals that a project is legitimate. This makes the 7.5 rating Student Coin obtained that much more impressive. Once again, if STC was a scam, the team would not open themselves up to this process.
As far as scams go, Student Coin has also been in the market for some time. Crypto scammers generally pump a crypto’s price as high as possible during its launch before dumping their tokens on the market. Thereafter, the project dies and the project’s team makes off with the funds they stole from their victims before they can suspect anything.
Early Users Witnessed Several Achievements
Student Coin’s team worked tirelessly over the last few years to grow the fundamental value of the project. This resulted in several developments, including the creation of the STC Terminal and STC Wallet. The team was also involved in the building of a derivatives-focused exchange.
Additionally, the team launched the rapidly-growing global media outlet, Coinpaper, which has increased its active user rate nearly 19.75% each month since its inception.
Through the years, the project’s team has also reached multiple milestones and developed a variety of products.
Some of the achievements that stand out the most include the 300 million impressions Student Coin’s marketing campaigns amassed, the 30,000 subscriptions that the Coinpaper and the STC University newsletters received, and the combined 80,000 downloads of the STC Wallet mobile app on Google Play and the Apple AppStore.
Student Coin Redemption
The Student Coin price skyrocketed to an all-time high (ATH) of $0.06559 per token shortly after it made its debut in the market. Although this steep price rise signaled growing interest in the project from users, it also introduced unreasonably high expectations for Student Coin’s team.
The team did everything they could to grow the fundamental value of STC so that there was very little difference between its speculative and intrinsic value. Despite their best efforts, the tireless work towards growing the project did not have the desired effect on STC’s price.
Additional funding was also allocated towards developing Student Coin’s offerings, but this also did not yield the desired results.
There were external factors that influenced the decision as well. More specifically, the increased regulatory uncertainty in the U.S. was a major consideration.
All of this placed pressure on the team, which grew to an unbearable point. This is why, after careful consideration, Student Coin announced the Student Coin Redemption.
Not only will holders be able to redeem their tokens at a much higher rate than STC’s current price, the redemption will also ease the pressure on the team – resulting in a win-win scenario for all stakeholders.
Users who have any questions can find more information regarding how to redeem STC tokens during this initiative visit Student Coin’s website.
Conclusion
In conclusion, Student Coin is not a scam. There is a lack of evidence that suggests otherwise.
The team’s devotion towards growing the value of the project, coupled with their willingness to take on the massive task of buying back and burning all STC tokens from its users, is a testament to the overall legitimacy of the project. It also proves that the project’s team are not scammers.
Being vetted by big industry players such as Hacken, KuCoin, Bittrex and HitBTC further bolsters Student Coin’s solid reputation in the market.
The team’s decision to launch the Student Coin Redemption comes after careful deliberation amongst its team and marks the end of the education-focused blockchain project. For more information about the Student Coin Redemption, check out the Student Coin website.