Great news: on November 9, the crowdsale of Starbase tokens finally will start https://starbase.co/crowdsale.
Starbase’s mission is to make it easy for everyone to start or support projects which aim to create new services and products. Starbase provides a crowdfunding and crowdsourcing/recruiting platform which gives long term incentive sharing mechanism on the “Internet of Value”.
Starbase supports core team’s token issuance via the Starbase smart contract templates. The contract templates have 3 basic types of properties; they are:
1. Utility (Utility value).
Utility means that the tokens can be used for the service/product’s access, and payments. Existing models of utility tokens are Factoid, Ether, Nimiq etc. By implementing the utility properties, core teams can offer discount or priority for their token holders. Afterwards, the core teams’ token holder can expect to use the core team’s service cheaper than users after launch. It has resemblance to Kickstarter.
Currently most projects’ tokens are utility tokens like Bitcoin, Ethereum, Ripple, Dash, NEM, IOTA, Monero, EOS, Golem, etc. Some of the projects are implementing “staking” mechanism such as “Numeraire”, which implements staking mechanism to show their confidence for their prediction of tournament data. “Staking” in blockchain context means lock up tokens on blockchain for a certain time and get some benefits from it. Starbase implements staking mechanism for projects giving utility to token holders efficiently and rewarding early purchasers/ crowdsale purchasers by reducing the transferable supply of tokens. STAR Token also implements the “Staking” mechanism for STAR token itself for giving priority and discount access for token issued on Starbase platform. Starbase provides utility templates for projects and projects can issue compose these properties. And tokens allows holders to do, - Pay - Stake - Vote - Earn then token holders can enjoy the platform, and projects can expand user based of the platform and keep users attracted to the platform(service/product).
2. Rewardable.
Rewardable means that the token holders can receive rewards from the core teams. Reward is paid by core teams from the launched project revenue by the form of Ether and Tokens on the Ethereum blockchain. Therefore, token holder can expect the reward from the core teams, and get good returns from the purchase if everything is going well.
Starbase implements 3 ways of rewarding functionalities for innovative projects including those who don’t know or use blockchain technology.
1. STAR Reward - Deposit & Withdraw way
2. STAR Reward - Buyback projects’ token way
And these reward feature is fairly Starbase core feature to make more global innovation grow with many stakeholders and supporters.
Deposit & Withdraw way
The STAR Reward system is on the Ethereum blockchain for STAR tokens, and the core teams will be able to use the Ethereum blockchain for their platform launch as well. For core teams’ token holders to receive rewards from the core teams, they need to know the private keys of their addresses, or the wallet provider should correspond with the reward payment. If you deposit a core team’s token on some crypto currency exchange, and the crypto currency exchange doesn’t treat the core team’s token reward payment, you will lose the rewards. In order to prevent the loss of reward payments, the Starbase reward system is required.
This reward mechanism is not only used for STAR token described below, but also for other core teams’ tokens who will use Starbase platform.
Buyback projects’ tokens way
The STAR Reward system for Buyback is based on trust of the project owner, because currently Starbas have not decentralized exchange which has verifiable functionality of buying the project’s token. Starbase is not crypto currency exchange, and don’t develop it. With exchange partners, Starbase will implement verifiable buyback feature. Then core teams can buyback their tokens and can reward their token holders. Until then, Starbase implements to interface to submit their claim of “They bought x amount of their token” onto Ethereum blockchain, and also users of Starbase which has their tokens can know the buyback reward.
3. Inflationary.
Inflationary means that the core teams can issue more tokens after the first crowdsale has finished. Core teams can pay newly issued tokens for their platform contributor or sell it to the public for future financing. Core team can combine these 3 properties with the property value, and make smart contract for the core team’s token.
Token can implement supply curve and allocation of tokens. Some tokens don’t have any inflation as project tokens, but others have some inflationary property. Depending on what kind of ecosystem the project want to make, the token inflation will be decided. If it wants to make expand user base, Starbase thinks it’s better to have inflationary functions or releasing transferable tokens by time, if it wants to make more fixed supply with almost fixed stakeholders, Starbase thinks it’s better to have stable supply, because knowledged stake holders don’t need to care about inflationary token usages.
STAR Token Crowdsale starts on Nov 9 2017 15:00:00 UTC and ends Nov 24 2017 15:00:00 UTC. Total to be Raised: $2,000,000 USD.
To streamline the KYC/AML process during the crowdsale, Starbase will be using PICOPS (https://picops.parity.io) to perform KYC/AML checks. PICOPS charges a small fee of 0.024 ETH per new user by PICOPS. If your ETH address is already verified by PICOPS, you do not have to re-validate.
More information about the project you can find here:
https://www.facebook.com/Starbase-1670679649909123/