The Latest and Practical guide on Starswap | Starcoin

Recently, there has been a quantum leap in Starcoin ecosystem, and a number of applications have been deployed on Starcoin. Starswap, as a important application on the DEX track, is one of the most focused applications in these applications.

In order to facilitate you to have a clearer and more in-depth understanding of Starswap, here is a list of recent events and time nodes of Starswap for everyone to refer.

Before introducing the follow-up activities, here is a brief introduction to Starswap.

Starswap is the DEX protocol of the Starcoin ecosystem and the Move ecosystem. It is developed by the Elements Studio team and can provide or stake liquidity for various types of tokens, helping users become automatic market makers (AMM). Starswap has the characteristics of asset security and stability, scalability, fast transaction, low transaction fees, and advanced DAO management. It has great advantages over competing products of the same type. The token of Starswap is STAR, for more information about Starswap, please check the official documentation.

Next, I will introduce some recent developments of Starswap.

AMA

At 20:00 on February 28, 2022 (UTC+8), Starswap held the first online AMA, details of the event;

The second online AMA was held at 21:00 (EST) on February 28, 2022. Details of the event;

After two AMA events and other publicity activities, everyone has a deep understanding of Starswap and accumulated a group of loyal fans.

Preparation Stage

At 21:30 (EST) on March 1, 2022, Starswap officially launched a new IDO event on the entire network. Before introducing new activities of Starswap , let’s take a look at some preparations in advance.

Starswap is a DEX protocol on Starcoin. The initial stage of launching the main network supports the liquidity of three tokens: STC, STAR and FAI. Before obtaining STAR and FAI, whether you are participating in STAR’s IDO or participating in subsequent staking mining activities, you must first have a certain amount of STC.

1. Prepare STC

There are currently two ways to get STC, one is mining, please refer to the STC mining guide; The other method is to buy STC on the market, currently there are two exchanges that can directly buy Starcoin (STC), they are:

2. StarMask Wallet

Through the previous methods, we can get a certain amount of STC, and then you need to understand StarMask, the official Chrome browser plug-in wallet provided by Starcoin.

After installing StarMask, please understand the users guide of StarMask, and finally withdraw the STC obtained earlier to StarMask. After completion, the preliminary preparation work is completed.

STAR Activities

After the previous preparations are completed, here is an introduction to STAR’s new activities.

At 21:30 (EST) on March 1, 2022, Starswap launched a new event on the IDO platform KGStarter.

The STAR allocation ratio for each user:

STAR allocation ratio = Stake STC amount / Total Amount

If Alice’s stake amount is 50,000 STC, and the end time total stake amount is 2,000,000 STC, then Alice’s share ratio is 2.5% of total STAR, which is 25,000 STARs.

Detailed introduction: https://medium.com/@StarswapEN/starswap-ido-introduction-57740d87f301

Event entrance: https://kgstarter.com/prodetail?pid=10002

The first stage is the Deposit, which stake the STC in StarMask to get STAR at a special price. This stage is from 10:30 on March 2, 2022 to 10:30 on March 4, 2022 (UTC+8) , that is, March 1, 2022 21:30 — March 3, 2022 21:30 (EST). as the picture shows:

  1. connect to StarMask
  2. enter the number of STC staked

The second stage is the Payment, paying STC to actually get the corresponding STAR (you can also Unstake to retrieve the staked STC to StarMask), this stage is from March 4, 2022 10:30 to March 4, 2022 23:59 (UTC+8), which is 21:30 March 3, 2022–10:59 March 4, 2022 (EST).

In the previous step, if Alice gets 25,000 STAR credit, Alice needs to pay STC as 25,000 * 0.09 = 2250 STC.

Payment can be made in two ways:

  • Users can pay STC to get the STAR tokens and automatically redeem all staked STC.
  • Users can also redeem the staked STC first, then pay the corresponding amount of STC, and get STAR tokens.

The STAR and staked STC will be deposited into the operator’s StarMask account.

Launch Starswap

At 9:30 on March 5, 2022 (UTC+8), that is, at 20:30 on March 4, 2022 (EST), Starswap will be officially launched on Starcoin.

If you have obtained STC earlier, or obtained STAR through new events, or minted FAI through STC(For how to mint FAI, please refer to the official FAI document and this article, here is the official website of FAI), you can inject these three tokens into Starswap’s fund pool for trading or stake mining.

During the early phase, Starswap only open two trade pairs(Other trade tokens, including cross-chain assets, will be added to the protocol after the bridge online):

  • STC/FAI
  • STC/STAR

STC/FAI Liquidity
The initial liquidity in this pool is $200,000. For example: when the price is $0.1 at the time of listing, then the amount is 1,000,000 STC / 100,000 FAI.
STC/STAR Liquidity
Total liquidity for STAR during the launch is 1,800,000 (IDO raises 90,000 STC, 900,000 STAR from protocol treasury, 90,000 STC and 900,000 STAR deposited in protocol treasury).
Click on the link to see more details about the STC/FAI liquidity and the STC/STAR liquidity.

Now you need to go to the official website of Starswap, please refer to the following these articles to learn how to operate on Starswap.

Starswap Community

The above is a brief introduction to Starswap, and a general summary of Starswap-related documents, some recent important activities and time nodes, hoping to help everyone. For more information about Starswap, please join the Starswap community by:

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Starcoin is a proof-of-work blockchain that enables secure smart contracts to power services in decentralized finance, gaming and NFTs.

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