What is Stater? Stater is an NFT Lending platform that allows users to receive loans using their NFT assets as collateral. Let’s find out what is special about this project with Weakhand in this article.
To better understand the P2P Lending model for NFTs, you can read the following articles to understand better.
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What is Stater?
Overview of Stater
Stater is an NFT Lending platform that allows borrowers to receive loans using their NFT assets as collateral and opens up a new way to generate profits for lenders to provide liquidity on the platform Stater.
Stater is built on many platforms such as: Ethereum, Polygon, Solana,… Stater’s goal is to build a P2P open source lending platform for NFT digital assets that can provide a seamless experience. circuit for borrowers as well as lenders.
Components participating on the platform:
- Lender (Lender): Provide liquidity for loans they find attractive on the platform.
- Borrower (Borrower): List their NFT on the Stater platform by specifying: Asset value, loan term, and loan amount.
Stater’s mechanism of action
Stater’s operating model takes place according to the following steps:
Step 1: Borrower deposits his NFT to the platform and creates a loan package. A loan package includes the following information: Assets you want to mortgage, package value – NFT valuation, loan term, LTV ratio (current maximum is 60%).
A loan package can be created using single assets or multiple assets that will be used as collateral. Borrower can combine packages to increase the total value of the package and provide a more attractive asset mix that increases your chances of getting a loan faster in the market.
Step 2: After that, the loan packages will be listed on the Stater market. Lenders will see all the loan packages displayed on the platform and have the option to offer loans to the loan packages they find attractive.
Step 3: Borrower repays the loan to receive the NFT collateral back.
Sale: In the event Borrower fails to repay the loan on time or at all, the Lender will have the option to recall the loan and receive liquidated NFT assets from Borrower.
What is the Stater difference?
Stater introduced Loanbook where users can track loan offers and borrowing offers. In this section, users can see all loans lent to others or loans received from other lenders.
Core Team
Stater is developed by Stater Labs. Some prominent members include:
Marlon Williams : Founder
- He graduated with a bachelor’s degree in business administration from Morehouse College.
- He has worked at Inktel Contact Center Solutions in many roles such as: Software Developer, Director Information Services since April 2003.
- After that, he quit his job and became CEO at Fenero Contact Center since April 2013.
- He decided to quit his job and join the crypto market and founded Qubicles in July 2018.
- Currently, he is also the Founder of Stater Labs.
Rafal buzinski : Lead Designer
- He graduated with a bachelor’s degree in engineering and graphic design from DePaul University.
- He had a short time working as a Designer at many companies such as: Aria AV Rentals, Snapfish, Rebelpoker.
- After that, he joined Stater and became Lead Designer from January 2021.
Angela Brasington : CMO
- Angela graduated with a Bachelor of Science, Business/Marketing from Marist College.
- Angela has worked at Infinite Visions as Product Manager since March 2008.
- In November 2011, Angela moved to work at C-Life Group as Business Development.
- In January 2014, Angela decided to start a business and became Founder of Anjé Clothing.
- After that, Angela quit her job and moved to Starter Labs as CMO from February 2021.
Investor
March 11, 2021: Stater announced the successful call for $400K from investors such as: Magnus Capital, Tenzor Capital, X21 Digital,…
Tokenomics
Basic information about tokens
- Token Name: Stater
- Ticker: STR
- Blockchain: Ethereum
- Contract: 0x84bb947fcedba6b9c7dcead42df07e113bb03007
- Token Type: Utility
- Total Supply: 100,000,000 STR.
Token Allocation
Token Release
- Treasury: Vesting 24 months.
- Governance: Vesting 24 months.
- Liquidity: Distributed within 18 months from the time of TGE.
- Team: Vesting 24 months.
Token Use Case
STR tokens are used to:
- Fee discount: Stake STR to reduce costs related to borrowing.
- Lending & Borrowing: Loans are calculated in STR.
Exchanges
STR tokens can be traded on CEX exchanges such as: Gate.io
Stater Project’s Information Channel
- Website: https://stater.co/
- Twitter: https://twitter.com/StaterFinance
- Medium:
summary
The NFT market is increasingly diverse and has more use value when combined with Defi. Stater is one of the projects improving NFT liquidity through the Lending model. Hopefully the information I have provided in this article has helped everyone to have some idea of Stater.