Attention StarTerrans,
With our first IDO just around the corner, we would like to share some additional information on StarTerra Energy, along with some updates regarding feedback from you the community, and the registration process!
“ The battle seemed to go on for days. I was one of the few that remained. Energy is what set me apart for all others, and why I recieved the most gems of any member in my faction. I feel lucky to have survived.” — StarTerra Soldier
Before getting into our updates, we’d like to highlight that the most anticipated update in Terra history is a few days away and we’re prepping to migrate our contracts along with it!
Though we assume the col-5 update on Terra will be stress-free, we’d like to urge our players staking tokens/LP providers to refrain from migrating your tokens until the update is complete, as all contracts will have to be configured for this update.
For this reason, we will be putting our site in maintenance mode before the update starts in a few days until the update is complete. We appreciate your patience ahead of time in this matter!
StarTerra Energy
StarTerra Energy(STE) is a unique number calculated in an effort to rank players in tiers as well as determine the chance of someone winning an allocation. In V1 of our platform, we will use tokens staked as the single determining factor in how much STE a player has.
How to calculate your StarTerra Energy:
Starterra Energy(STE) =$STT(single asset) + ($STT-UST LP x 1.25)
Examples:
1 staked STT token = 1 STE
1 staked STT-UST LP token = 1.25 STE
1 staked STT token + 1 staked STT-UST LP token = 2.25 STE
After considering feedback from the community, we’ve changed the method to calculate STE for LP token stakers. Initially, we were considering counting the amount of $STT in LP tokens x3, a number that fluctuates with price changes. After feedback from LP token Stakers, we’ve changed that to a stable multiplier of 1.25x LP tokens.
Though this multiplier looks smaller on the surface, you get more STE per total dollar amount provided, and you don’t risk falling out of a faction due to fluctuation in price. Therefore, by multiplying Total LP tokens by 1.25 gets you more STE for a lower UST cost.
- For all tiers except Squads, you may combine both Staking options to achieve the desired amount of STE. The combinations are endless however you can use the formula for STE to calculate your total amount: STE = $STT + ($STT-UST LP x 1.25)
- To join the StarTerra Recruits Tier you must stake a minimum of 250 $STT tokens, 200 LP tokens or a combination of both equaling a minimum of 250 STE.
- To join one of the 3 Factions, or join the ranks of WhaleCraft, you must stake a minimum of 3000 $STT Tokens, 2400 LP tokens, or a combination of both equaling a minimum of 3000 STE.
- To join a Squad, you must provide a minimum of 250 $STT tokens via Single asset staking. LP providers either have to participate in our Recruit tier or the remaining tiers as individual players and will not be able to participate in Squads.
The top player’s wallets that rank in our WhaleCraft and Faction Leaderboards will be determined by the amount of STE they have staked. Once you’ve met the minimum threshold to get into one of the tiers, it’s worth mentioning that by adding more to Staking/LP providing you will climb higher among the leaderboards which will increase your chances of winning the Lottery based portion of the IDO.
The total number of STE for each faction will be used as part of the equation determining which faction wins the majority of the gamified pool of 15%. The other part of the equation, the Social Power Factor, will vary depending on the IDO partner and what feature they wish to highlight on their protocol/platform.
Then for V2 of our platform, we will introduce avatars featuring NFT’s that will have utility and give multipliers for your STE. Additionally, for this update, the time tokens are staked will also become a determining factor for STE. Long-term stakers will be rewarded, with additional STE, so the longer you stake, the greater the chance you have of winning the lottery-based portion of each IDO. The calculation of time for tokens staked will begin from StarTerra’s TGE.
Pre-Registration for IDOs
Terms and Conditions/KYC
As of today, players can complete the first steps of the IDO process on our website by first accepting the terms and conditions of our platform and following up with filling out a KYC form through our 3rd Party Provider. Your KYC information will not be stored on StarTerra’s servers and will only be provided to projects each individual player chooses to participate in.
Though it’s up to every project to determine whether they would like to proceed with KYC or without it, players will only need to fill it out once if they choose to participate in KYC-required projects. Each project will provide a list of requirements to participate in their IDO, that we will then use to allow players to register.
First StarTerra IDO
It’s worth mentioning that StarTerra’s first IDO will be our own $STT Post-TGE IDO. As in line with our Public Sale, the $STT Post-TGE IDO will require KYC.
$STT will be allocated at our Public Sale/listing price of 0.14UST, 0%TGE and will be vested Daily Linearly over 6 months. We will be using a similar process participating in this Post-TGE IDO as our standard, however, it will be slightly different as we will not be featuring the WhaleCraft Tier. We will announce the exact start date and rules at a later date.
To get a head start on the registration process head on over to;
https://app.starterra.io/terms-and-conditions to accept our Terms and condition
https://app.starterra.io/kyc/ to fill out the KYC form if you’d like to participate in our $STT Post-TGE IDO, or any of the upcoming projects that require it.
Your mission has been established… the coordinates have been set… we look forward to having you on board soldier!
To Luna and Beyond,
StarTerra
