StarTerra: an overview and step-by-step guide
Join the First Gamified Launchpad for Terra
TERRA ecosystem is growing by leaps and bounds and aims to be a reference in the world of decentralized finance (DeFi) and cryptocurrencies. So far, Terra has had a total of 4 protocols and has reached the top 4. If Terra reached top4 with only these 4 protocols, then if it gets to have more, especially compared to the big fish like Cardano or Polkadot, and enter all those waiting in the pipeline, we can expect a huge capital inflow. Most of these projects that have yet to launch need funding for their launch and in turn marketing exposure. For this, they will need a launchpad to give them this push to enter the market. This is why StarTerra (https://starterra.io/) was born, a platform within the Terra ecosystem that will provide comprehensive support in terms of tokenomics, marketing and auditing for other projects and protocols to be launched on Terra.
On the other hand, if we focus on the currently existing launchpad platforms, we can observe that one of the biggest problems it has is a significant lack of demand for its native tokens. The StarTerra team has done a thorough analysis on this concluding that fixed entry amounts are prescribed for individual tiers, so users have no incentive to acquire more native tokens, nor do investors themselves. All they need to do is bet a fixed amount of a given native token and then wait for allocations to buy IDO tokens. What is StarTerra’s solution to these problems? Well, gamify the platform when making IDOs by creating a special gamified competition system between levels, allowing users to bet more of their native $STT token than the minimum amount required.
What is Star Terra?
Star Terra (https://starterra.io/) is the first gamified launchpad for Terra Blockchain with a unique combination of guaranteed and lottery-based prizes. The most important features of the platform are: Gamified Tier System, Gamified NFT Integration, High-Quality IDO Projects, Deflationary Tokenomics, 20% Yield on Deposits and Play2Earn game.
However, the most exciting feature is a Play2Earn feature with gamified NFTs integration never seen before. It means that the top leaderboard players from each faction and all Whalecraft members will earn $UST stablecoin for their active participation in IDO, so players will not only gain allocation to purchase IDO tokens of the top quality projects but also earn a payout in $UST funded from 3 sources:
- 25% of Anchor Yield generated from pre-funded deposits
- 20% of income from transaction fees
- 50% from the Sales of our limited NFTs collections
The main StarTerra token is the $STT, which has many functions and utilities inside the platform. On the one hand, it can be used as a governance token, $STT stakers will have an influence on the crucial aspects of platform development such as staking yield, buyback & burn percentage etc.
Besides, users can only use $STT to stake and earn passive income not only from everyday $STT rewards but also from weekly airdrops coming from our multi-asset staking feature. Furthermore, $STT is a deflationary token because of the inflation model is additionally boosted by buyback & burning mechanism fueled by transaction fees.
Furthermore, as said before, StarTerra detected the problem of previous launchpads and tried to solve it by gamifing the platform, making IDOs by creating a special gamified competition system between levels, allowing users to bet more of their native $STT token than the minimum amount required.
To be part of an IDO, every user must complete some specific requirements and tiers to take part in it depending on the project. To get a tier, users will have to acquire StarTerra Energy points (STE), which can be obtained via LP staking or SST staking. For every LP staked, we will obtain 1.25 STE. Instead, for every SST staked, we will obtain 1 STE.
The tiers implemented and created to participate in the IDOs in terms of STE required are as follows:
- TIER 1: Recruits | 250 staked STE | 5% Lottery Pool.
- TIER 2: Lunatics | 3000 STE | 20% guaranteed initial pool weight and lottery
- TIER 3: Degens | 3000 STE | Initial Pool Weight 20% guaranteed and lottery
- TIER 4: Interstellars | 3000 STE wagered | Initial Pool Weight 20% Guaranteed & Lottery
- TIER 5: Whalecraft | TOP Wallets | Pool Weight 35% guaranteed
Therefore, in this situation, the rewards and access to the platform and the benefits of different projects vary according to the user’s tier, which is a much greater incentive for both them and the investors to participate in them and to obtain higher profits by raising their tier.
Benefits and functionalities of tokens
Governance: $ ST bettors will influence crucial aspects of platform development, such as betting performance, buyback and burn rate, etc.
Participation profit: $ ST bettors will earn passive income not only from daily $ ST rewards but also from weekly releases coming from our multi-asset participation feature
Deflationary tokenomics: $ ST token holders will enjoy the declining inflation model, additionally driven by the buyback and burn mechanism driven by transaction fees.
StarTerra Council and IDOs
StarTerra has also created a Council with different advisors and strategic partners to participate in the voting of the different projects to be launched on the platform. In this way, the Council will act as a governing body that carefully selects projects to ensure that blockchain technology and innovation is always updated.
How exactly will this Council work? Each launch application will be reviewed and voted on by the StarTerra Council and must be approved to move forward on the platform. If so, the project will be eligible to receive a StarTerra Labs Cultivator Program that will be responsible for not only writing a roadmap of all the steps necessary for the project to launch correctly and successfully, but will also conduct an analysis of the tokenomics, business development and marketing strategy of the product.
The idea is to provide the project with an industry-leading full-service incubation package and in turn, they will receive pre-funding grants to fuel their growth prior to IDO.
Looking at the gamification program, it will also take into account some features or others depending on each project. The idea is that in this way the users are also taken into account and involved as much as possible in the project itself. To this end, depending on the IDO of the project, there will be one gamification or another in terms of a scoreboard for the ranking of the tiers.
How to use STarTerra platform?
In order to understand how StarTerra works, below is a tutorial guide on how to navigate within the StarTerra application itself, showing step-by-step how to access each feature of the app, as well as an initial basis on how to acquire SSTs for those who are new to the Terra ecosystem.
Take note that first part of the guideline shows step by step how to access each of the features that the app has, as well as an initial basis on how to acquire SST for those who are just getting started in the Terra ecosystem. While the second part are dedicated to show how to take part of an IDO.
Part 1: How to navigate through StarTerra app and its functionalities and how to acquire SST tokens
First of all we will need to access the starterra.io website where we will need to go to the launch app section.
Once there, we will have to click on one of the Connect wallet buttons, which will be used to connect our Terra wallet to the application.
Step 3 (if you don’t have Terra Station installed, otherwise skip to step 7):
If this is your first time using the Terra ecosystem, you will get a pop-up window asking you to install the terra wallet, as shown in the picture. If you are on your desktop, you should check the first option (as in my case). If you are on mobile, check the Terra Station Mobile option.
Once we know what we are going to work with, desktop or mobile, we will have to install the chrome extension or the terra station app on the mobile. As I said, we will do the tutorial for the desktop version, so we will add the Chrome extension.
Once the extension is installed, we will just have to go back to the StarTerra app and click the Connect Wallet button again, and we will get a popup where we will have to give access to connect our wallet. Once accepted, in the same StarTerra app we should see Connected Wallet.
Once inside the app and with the wallet connected, we will be able to navigate through the application and enjoy all the available tools. The first step is to add SST to our wallet to use them in the app. To do this, we will need to have some LUNA and/or UST in our wallet. (If you don’t know how to do it you can watch some tutorial like this https://www.youtube.com/watch?v=6aQAk0Z_y08, you will have to acquire LUNA through Binance, Kucoin or some other exchange that trades with LUNA and pass it to your Terra Station wallet).
Once we have LUNA and/or UST in the wallet (also to pay fees), we can purchase SST tokens via the Buy $STT button.
Step 8: Trade and swap step
Once we click the button, we will go to trade and swap section, which is another important feature inside the StarTerra app. To go to this section, we can also go direclty to the top menu of the StarTerra home page and navigate to the Trade $STT section. Inside this menu we will have a screen where we will be able to trade SST (both buy and sell) for different tokens that we have inside our wallet, and as we can see in the picture below, all powered by Terraswap.
Part 2: How to participate in StarTerra IDOs (Orion Money example)
Step 9: IDO steps (I)→ Project selection
Once we have acquired the STT tokens, if we scroll down on the same page, we will see the most important SST utility, as IDO starter. For this we will go to the Live and Upcoming Events section, where we will see the projects that are coming soon, in which we will be able to participate in their launch!
Then, you will have to select your project and read the full conditions to take part in its IDO. In our case, we will focus on Orion Money, which is one of the projects that already succeeded, in which participants could get the tokens 10x lower! To do this, we will have to go to the Research button, where we will see the screen below, with all the information about the selected project, in our case Orion Money (take a not that because of the Orion Money IDO have finished, you cannot access to its IDO now, you can access to next IDOs like Lunart). In this case, we need to be a Recruiter as a minimum condition (we will need 250 STE points or more). We can acquire that points by staking LP tokens or SST tokens directly (we will explain in the next steps), before participating in its IDO.
Step 10: IDO steps (II)→ Staking steps
Another function of SST is staking. Staking not only allows us to earn rewards in form of a staking program, but also allows us to earn STE points. STE points will be used to classify users into levels. Depending on our level, we will be able to participate in the IDO or not, and we will be able to stake an amount or another.
To do this we will have to go to the Staking tab. Once inside, we will have different staking options. All the information to know what each of them consists of can be found above, in the project description.
Option A: LP Staking
On the one hand, the staking can be done through LP staking, that is to say, 50/50 pairs between SST and another token, at the moment it is only possible with UST. To do this, we will only have to choose which of the 3 available stakings we want to do (Lunatics, Interstellars or Degens) and once inside, we will get a window like the one below to be able to add liquidity to the SST/UST pool.
Note: For every LP stake, we will receive 1.25 STE point.
Attention: It will not be enough to add liquidity to the pool, we have to do staking so that our LPs generate interest! To do this, in the same window, we will have to go to the Stake LP tab and add our LPs.
Option B: Single staking
On the other hand, we can also do SST staking, for this we will have to go to the Single Asset Staking tab. In it, we will be able to add SST tokens in staking through the same 3 options as in option A (Lunatics, Interstellars or Degens).
Note: For every SST staked, we will receive 1 STE point.
To do so, choose one of the three options and click on the Stake now button. Then, a window will appear where we will have to put the amount of SST we want to stake.
Step 11: IDO steps (III) → Participate in the project’s IDO
The roadmap of StarTerra during 2021 is very clear. During Q1 2021. the team has carried out marketing research and designed the first concept of the project. Then, during Q2 2021, the StarTerra was founded and the whole team was created as well. During this time period, were carried out the website and some strategic partnerships. In Q3 2021, the public sale of STT was launched and STT token was listed on DEX. Finally, during this final Q4 2021, it is supposed the full platform launch. An IDO and CEX listing.
TERRA ecosystem is growing by leaps and bounds and aims to be a reference in the world of DeFi and cryptocurrencies. With all these new protocols implemented and with an individual yet common characteristic, we will have to follow StarTerra project very closely as it aims to be a promising token for the future because a lot of new projects are yet to come into Terra ecosystem and could be launched through this Launchpad.
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Name: Adrià Parcerisas Albés in collab with Cristina Tintó
Discord username: adriaparcerisas#5246
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