Statter Network Announces the Launch of Its Mainnet After Securing $10 Million in Funding

April 17 23:15 2023

Statter Network, the world’s first full-service public blockchain platform for the metaverse and an essential infrastructure of the metaverse, launched its mainnet and generated the first genesis block on April 16 (EST), officially issuing the incentive token STT. Since then, the mainnet has been running stably, and blocks are being continuously produced according to its operational standards.

According to the official announcement, Statter Network mentioned that the mainnet will undergo a beta phase lasting approximately 30 days, during which all rewards received by the nodes and users will be valid and accessible.

The block data and rewards are all released by its official platform, then why is it still in a beta phase after the mainnet is launched?

Generally, the public chain will release the testnet before the mainnet goes live. Once the testnet is running smoothly, the data will be cleared and the mainnet will be officially released. Statter directly skips the testnet, perhaps because it has already finished the internal test in a low profile during the development period, so the mainnet is released directly. However, since it is the first time for Statter to give the global users an access to its mainnet, for technical and rigorous considerations, it names the mainnet as the beta version.

To sum up, the beta version is already the mainnet. However, there are also some differences between the two.

Block reward is increased by 33%. According to the Statter’s economic model, one block is produced every 12s with a total of 120 STT rewarded, but in the beta phase, 160 STT can be rewarded for per block, a 33% increase. The increased incentive tokens can attract more users to join in the early stages and therefore can promote the security and stability of the mainnet. During this period, both users and nodes will become the biggest beneficiaries.

Stake-free. Statter’s economic model of zero pre-sales dictates that there are no STT tokens before the mainnet is released, but access to working in the mainnet requires staking STT tokens. Therefore, a contradiction comes into being: how can the first users participate in working? The official plan now is that working is staking-free, i.e., during the mainnet beta phase, users do not need to stake STT tokens to participate in working. This eliminates the staking requirement and significantly reduces costs for participants.

With 33% increase of STT output and under the rules of fair working, users ushered in a period of low competition and high returns. This is exactly the same as the liquidity working in the DeFi period. where early participation leads to higher returns. It is recommended to take advantage of this opportunity without hesitation.

About Statter: A Metaverse Blockchain

Information about Statter Network is readily available, and its official website contains numerous articles. When the mainnet goes live, it is crucial to analyze Statter’s consensus mechanism, which is Segmented Proof of Work (SPoW).

Statter divides the calculation tasks into different segments and then distributes them to all nodes in the network. The devices in the nodes perform exhaustive calculations of random numbers, and those with correct results will be rewarded with STT; Task segmentation not only helps evade repeated invalid calculations, but also achieves a significant increase in efficiency through parallel tasks.

In this process, there are two important players: the node and the user. In addition, there is one important medium: the device. The specific process is as follows: users connect their devices to the node for working and obtain STT rewards. Superficially, it seems extremely similar to Bitcoin and early Ethereum working. However, there is also a fundamental difference in that Statter is fair in distributing working rewards and maintains a low-carbon and green working.

The Statter economic model is set to zero pre-sale, which means that all STT tokens must be generated through work.

A total of 1.861 billion STT tokens are issued, and the STT output of each block is redistributed: users get the most, 70%; nodes account for 7%; 10% of STT is allocated to the ecological construction of public blockchain; 5% is distributed to the development of global community and consensus dissemination; 5% is used for the technical development and iteration of protocol labs; and the rest 3% goes to the foundation for the operation of the project.

In other words, at the beginning of the mainnet, only a limited number of or even scarce STT tokens are circulated on the market. What is more, the economic model sets up a deflationary mechanism and a burning mechanism: 25% of STT tokens are reduced for every 12 months, and a destruction mechanism is continuously implemented through gas fees, node creation fee or buybacks, until 90% of STT tokens are destroyed, leaving only 186 million STT in the end.

The blockchain industry is acquainted with Statter’s project background and technical advantages. Transcending other rivals with its technical performances, Statter is the first to develop the drag-and-drop public blockchain technology, ranks the top in developing dApp jigsaw puzzles and cleverly designs the highly cohesive and low-coupling multi-layer structure network.

In terms of investment, earlier the Wall Street-based Holo Foundation announced a $10 million investment in Statter to support the development of metaverse technology and related ecosystem. Holo Foundation also held a press conference in New York to highlight the strategic importance of investing in Statter and invited investment bank managers and economists to participate in the discussion. Statter has already received more rounds of institutional funding.

With the launch of mainnet, Statter Network unveils the mystery of the metaverse blockchain platform and meets the test of the global developers and user community. Everyone is looking forward to what the Statter Network and STT will bring in the future.

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Company Name: Statter Network
Contact Person: Ellen Miller
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Country: United States