How Hot Is Starswap Now?

* By Starcoin community

Recently, the tension between Russia and Ukraine hit global markets, US stock and HK stock market fell heavily, and the overall market sentiment is relatively pessimistic. After Russia has been banned from SWIFT system, Russia could use BTC as an alternative, even though, the cryptocurrency market sentiment is still pessimistic.

Under such market, cryptocurrency investors should keep clam and find suitable project, and seize right opportunites.

Even in this situation, there are still many high-quality popular projects. In recent days, a low-key DEX project was launched. Here’s an analysis of its market performance after its launch.

Starswap

This low-key DEX project is Starswap. Let’s briefly introduce Starswap.

Starswap was developed by the Elements Studio team using the smart contract language Move. As the most feature-rich DEX product in the Move ecosystem, it has notable features such as asset security and stability, fast transaction speed, low transaction fees, and advanced DAO management. Starswap has been launched on the Starcoin public chain, including functions such as Swap, Liquidity, LP Farm, and Stake. Starswap currently supports STC, FAI, STAR and other tokens, and more tokens will be launched soon for users to choose from.

The Starswap token symbol is STAR, and the total supply is 100,000,000. The initial circulation is 15% of the total supply, which is 15,000,000 STAR, and the remaining 85% will be gradually released through linear release. For more details on governance and economic model, please refer to Starswap’s official documentation.

STAR IDO

We have got a rough understanding of Starswap’s market positioning and model, here let’s take look at Starswap’s market feedback.

Starswap held IDO on the IDO platform KGStarter at 21:30 (EST) on March 1, 2022 (this event has finished). Any user can stake STC and participate in the sharing of 1,000,000 STAR.

On the day of the IDO, the subscription was extremely hot. From the start of staking, and immediately broke through the new target plan (90,000 STC). In less than 10 minutes, the staked amount has reached 1,000,000 STC, which is 1333% of the plan, far exceeding the expected target, and we can see STAR is really hot.

At the end of the IDO activities, a total of 6,533,122.768797215 STCs have been staked, which is 7259% of the target plan. For details on IDO activities, please refer to the event guide.

Harvest Token

After experiencing the hot IDO activities, at 9:30 am Singapore time on March 5, 2022 (8:30 pm EST on March 4, EST), Starswap officially launched the Starcoin main network, here you can check the launch instructions .

After running stably, it can be said that the current harvest is pretty . From the figure below, you can see the revenue of the first Starswap mint. The APR of STC/STAR to Farm is as high as 629% (The early users will be very happy with this), and the APR of STC/FAI was also 64%. The APR data here is for reference only, and the specific data will fluctuate with market demand. Only the profit of Farm is counted here, and the profit of single-token stake and liquidity is not included. For these profit, please refer to the official website of Starswap.

Community Guidelines

From market feedback perspective, although Starswap is a low-key project, the prospects are very optimistic and worth looking forward to.

The above we have mentioned is the overall situation of Starswap so far. Starswap is still in an early stage. Although it has rich functions, but the supported tokens are relatively limited. With the later launch of Bridge, more and more Tokens will be launched in the Starcoin ecosystem. I believe that Starswap will support more Tokens and will take a bigger step.

If you also want to know about Starswap, please refer to the official Starswap guide and pratical guide;

If you want to keep up with the latest developments of Starcoin, you can subscribe Starswap’s TW or join Starswap’s TG (EN).