StarTerra: The New Generation of Play2Earn and NFTs.
StarTerra was created with the intention to bring an upgrade to the standards used for the functionalities of IDO launchpads. As a platform backed by a team of experts, they have continued to bring interesting innovations to the platform, and are raising the bar high for projects to also deliver nothing but the best. One of the highlights of the StarTerra is its incentivized gaming model that gives users incentives when they participate in the platform’s NFTs and Play2Earn offerings. The team behind StartTerra is of the opinion that investing in cryptocurrency should not be only for the rich and a select few, but should be available to everyone at the early stages.
It may interest you that StarTerra’s features have been created meticulously in such a way that buying pressure is created for the platform’s native token. Furthermore, the design of the platform puts projects in a way that there has to be interactions between the projects and the platform, in order to contribute to the growth and development of the Terra Blockchain.
Among the different use cases and benefits, there are two outstanding features of the StarTerra that will interest many crypto enthusiasts:
1) Play2Earn
In order to incentivize the activities of users on the StarTerra platform, an interesting way of incentivizing was created called to earn. The team took the interesting process several notches higher by making it competitive.
Players on the gamified platform are incentivized to play and climb the rankings on the leaderboard. Here is where it gets more interesting; StarTerra will pay out top performers ranked on the leaderboard, and this will happen in the different factions.
If you are staking 3000 STT tokens, you will be able to select one of three tiers: Lunatics, Degens or Interstellars. Each tier/fraction will have a pool weight of 15%. After that all three tiers will compete for the remaining 20% allocation of the pool weight. In the end, the total pool of a fraction will be divided into two parts: 50% guaranteed, 50% lottery based. Let’s say that Degens fraction won a total of 25% pool weight, 12,5% is a guaranteed allocation for every pool member. The other part is distributed based on the gamified leaderboard. The more and the longer you stake you STT tokens, the more chances you will have of winning a lottery.
If you are not interested in the gamifying aspect, you can either participate in StarTerra pool, which only requires 500 staked STT tokens or be among the top 30 STT holders to get a guaranteed allocation in the Whalecraft tier.
One question you may want to ask is how the yield will be generated. The yield will come from three sources:
- By default, the prefunded UST deposits will generate a 20% yield. 10% of the yield will be sent back to the depositors, and 5% will be used to pay the top-ranking players on the leaderboard, including every other person within the whale craft. Another 5% will be used to burn STT tokens.
- Another source for generating yields will come from the fees the platform generates. This means that the yields will come from staking, IDO participations, staking, transactions, etc.
- The third yield source will be facilitated through the sale of NFTs that will be available in limited editions, and they will be made available when the version 2 of the StarTerra platform is released.
However, the NFTs need to be minted and made available for sale for V2 first before they can be used as a yield source. Otherwise, the funds gotten from IDOs, public sale and strategic rounds will be deposited into the platform’s anchor protocol, and all the generated yields will be directed at providing funds for the further development of the Play2Earn model.
Here’s a breakdown in percentage of the $UST payout from the three sources:
- 50% will come from the sales of the platform’s limited edition NFTs
- 25% of the funding will come from the pre-funded deposits through the Anchor Yield.
- 20% of the payout will come from the yields made from transaction fees.
By participating in the IDOs, players will earn payouts, and they will also be allowed to get allocations needed for the purchase of IDO tokens; these tokens will be from top projects that have been carefully selected to deliver the best to the users.
It is a win-win situation for the players, because they are at liberty to play to get to the top of the leaderboard, and also receive incentives for participating.
2) NFTs
One innovation that has taken the crypto community by surprise is the introduction of Non-Fungible Tokens (NFTs), and since its inception, it has proven to be a very profitable way for content creators like artists and graphics designers to earn large amounts of money when they sell or put up their works for auction on different NFT platforms. It may interest you to know that NFTs are not limited to art and graphics content alone, but even other items that are not fungible.
In order to add to the gamification model of the StarTerra platform, limited NFT collections will be launched with the V2 of the platform. It is important to note that the NFTs will be in-house designs. However, the NFTs will also function as utilities.
There are different benefits of the NFTs, and they will come as beautifully designed graphical skins that will be utilized for avatars and other graphical elements within the game. One of the major advantages of the limited NFTs is that it will help boost the player’s position and ranking on the leaderboard, as well as make it possible for them to get higher allocations on the IDO. Furthermore, it puts the player in a position to access the different perks that the team behind StarTerra have in store for the players.
StarTerra intends to ensure that even though the players enjoy a personalized experience, the leaderboards will remain anonymous for each participant of the IDO. Players will be able to get unique and special usernames, and their avatars will be customizable to make each player unique.
To prevent bots from getting on the platform, players will be required to go through a KYC process before they will be allowed to create their usernames. This step is important in order to prevent the hoarding of allocations; in some cases on other platforms, people create bots to hoard allocations, and it can be a big problem for the platform.
StarTerra is making it possible for everyone to get on the IDO investment train in a way that is attractive, interesting, and profitable. Interestingly, it is easy to get started, and there are indications that there will be more innovative changes in the near future.
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Text source: Stories by Boss95rnd on Medium
