Deep Dive | StarTerra
Introduction
In the past few months, the Terra ecosystem has experienced tremendous growth in the development of new projects. With many launching in the near future, the need for a launchpad on Terra is real.
StarTerra plans to fill that need.
StarTerra’s Mission
Calling themselves the “first gamified launchpad” to launch in the Terra ecosystem, StarTerra is unlike any traditional launchpad. By implementing storylines, factions, and NFTs, it will differentiate itself by gamifying the whole experience of launching new projects. To understand how StarTerra plans to do this, let’s take a deeper look into their gamification process.
Factions/ Tiers
At the core of the StarTerra universe are 3 factions.
- Lunatics
- Degens
- Interstellars
At the beginning of each allocation event, players can pick which faction to join which requires 3000 staked STT (StarTerra tokens). Each faction will be entitled to 15% of the available allocation, and can potentially increase it for more by battling other factions for the remaining 20%.
An example of this at play is given by the StarTerra whitepaper:
This means the total allocation for these three factions comes out to 65%.
- Ex: (Lunatics) 15% + (Degens) 15% +(Interstellars) 15% + 20% = 65%
Two other Tiers
The remaining 35% are split among two other tiers in the StarTerra universe; ‘StarTerra’ and ‘Whalecraft’.
The ‘StarTerra’ tier is made specifically for users who do not have enough staked STT to join a faction. In order to join this tier, users would only need 500 staked STT. In this tier, 5% of the allocation is distributed based on a lottery with a limited number of winning tickets.
The “Whalecraft” tier is dedicated to the “Whales” of the StarTerra universe in which they are allocated the remaining 30%. In order to join this tier, users would need to be in the top 30 holders of STT tokens. There will be a live leaderboard where users can keep track of their holdings.
Pre-Funding Contribution System
Unlike other IDO platforms that provide users with a short amount of time to fund their allocation, StarTerra plans to implement a “pre-funding contribution system”.
This means users will be required to pre-fund their account with UST before entering an allocation event. If an allocation is granted to the user, funds will automatically be deducted from the account, therefore, avoiding the experience of a user forfeting their allocation.
Because StarTerra is built in the Terra ecosystem, it can easily be integrated with Anchor Protocol to generate yield on the pre-funded accounts. The yield is then split among users, rewards, and the STT token.
- 10% of the yield is distributed back to depositors
- 5% of the yield is distributed among top leaderboard contributors in Play2Earn
- 5% of the yield is used for buying back and burning STT tokens
Play2Earn & NFTs
Aside from factions, the other part of the gamification process comes in with Play2Earn and NFTs.
Play2Earn
In StarTerra’s Play2Earn feature, top leaderboard players will be able to earn UST by participating in IDOs. This means in addition to receiving an allocation, top players will also have the potential to earn UST.
The UST being paid out to top players are generated in 3 following ways:
- 25% of Anchor’s yield generated from pre-funded deposits
- 50% of income from transaction fees
- 50% of sales from limited NFTs
NFTs
In order to further gamify this allocation process, NFTs will be offered for not only looks but for utility as well. These NFTs will come as accessories for your avatar in the form of Weapons, Armour, Creatures, and more. Having certain NFTs will allow you to obtain higher allocation, access the “Whalecraft” tier, and a Play2Earn payout.
Pre-IDO
The goal for StarTerra is to foster a platform where high-quality projects can meet long-term thinking community members.
Projects that apply to StarTerra will be reviewed by the StarTerra Council which consists of notable investors and strategic partners. Once approved, projects are then provided with guidance that includes advisory on tokenomics, business development, go-to-market strategy, and more. All this is done so projects launching on the platform can have the best chance to have a successful launch.
Post-IDO
Another differentiator StarTerra has from other launchpads is its commitment to provide post-IDO support to live projects.
“One of our main goals is to help transfer our players into the IDO projects end-users”
This will come in the form of StarTerra’s unique multi-asset staking mechanism. This simply means STT stakers will be eligible to receive weekly airdrops for beneficial actions towards projects. This will create an environment where users are incentivized to interact with projects post-IDO. An example of this could be liking a post from a project or watching a video in order to claim an airdrop.
Tokenomics and Distribution
The main goal of the STT token is to govern StarTerra. This could include various features of the protocol including how many staked STT is required to join a tier/ faction.
The STT token also captures value from StarTerra in several ways.
- STT stakers earn STT rewards and weekly airdrops of IDO projects
- 30% of transaction fees is used to burn STT token
- 5% of yield from pre-funded deposits is used to buyback and burn STT token
Distribution
There will be a total of 100M STT tokens distributed over the next 39 months, with no new tokens being emitted in the future. Due to the buyback and burn mechanisms of STT tokens, the total supply of STT will continually be decreased as STT captures value.
At launch, a total of 3.92M STT tokens will be released. The details of how they are distributed are highlighted in the graphic below:
There will also be various opportunities for community members to receive STT tokens. These include:
- Airdrop for LUNA stakers: 1M
- Airdrop for bLUNA providers: 1M
- Airdrop for whitelisted community: 1M
- Public presale: 2M
- Post IDO on StarTerra: 1.5M
The complete distribution of the total supply of STT tokens (100M) are in the graphic below:
Team
StarTerra’s team consists of well-known LUNAtics in the Terra community like Wojciech Gruszka (@PanParagraf) and Kamil Jarzombek (@jarzoombek). Both were early adopters of Terra and were key players in starting the Polish community in the Terra ecosystem.
The rest of the team is made up of 13 talented individuals ranging from developers, graphic designers, marketers, and many more. This puts the StarTerra team as one of the larger and more experienced teams in Terra.
Conclusion
As the Terra ecosystem continues to grow, StarTerra will play a key role in bringing these projects to life. Through gamifying the whole process and providing post-IDO support, it will deliver a unique experience compared to traditional launchpads. These will be important differentiators that will attract projects to launch on StarTerra in the future.
More Information
- StarTerra Twitter: https://twitter.com/StarTerra_io
- StarTerra Telegram: https://t.me/starterra
- StarTerra Website: https://starterra.io/
- StarTerra Whitepaper: https://drive.google.com/file/d/1LWah3Lt1FnyDzFK57mTXFQCqPSu8ovWu/view
- Podcast with Qi Capital: https://www.buzzsprout.com/1729379/9018769
About Qi Capital
Qi Capital is a group of like-minded and experienced individuals from around the globe, sharing two common objectives: providing insights about crypto and DeFi, and proactively working with ambitious teams on the future of decentralized finance. Our core principle is to promote and foster individual creativity, growing not only as a group but also as creative thinkers and builders. To learn more about us, check out our website www.qicapital.org and our “Qi Podcast” via www.buzzsprout.com/1729379/ or engage with us on Twitter: @QiCapital.
Disclaimer
Qi Capital is a strategic investor in StarTerra. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token or participate in any farms. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice. All market prices, data, and other information are not warranted as to completeness or accuracy, are based upon selected public market data, and reflect prevailing conditions and the author’s own views as of this date, all of which are accordingly subject to change without notice.
