Student Coin Announces Fair Redemption Process for STC Token Holders

StudentCoin, a platform that teaches (especially) students about blockchain technology, launched a program to buy back all circulating $STC tokens, giving holders a clear way to cash out.

This announcement about the Student Coin redemption process comes after their team announced the closure of the project on April 9, 2024. 

StudentCoin Launched Its STC Token Redemption Program

Student Coin, a leading blockchain education platform, is committed to providing a clear and transparent exit strategy for its token holders. 

They've launched a $STC Token Redemption & Sale process that offers fair buyback prices and multiple options to cash out tokens over the next five years.

The redemption price per token will vary between $0.006 and $0.0137, with a higher price offered to those who have held $STC tokens for a longer duration or have been actively involved in the Student Coin community. 

The redemption process has already begun on April 9, 2024, and will unfold in stages throughout the next five years. Here's a breakdown of the key deadlines to keep in mind:

1. For STC Wallet Users

• June 9, 2024: This is the deadline to redeem tokens directly within your STC Wallet.
• October 9, 2024: Deadline for redeeming tokens via Redemption Request.

1. For Users Holding STC Outside the STC Wallet (like MetaMask, Coinbase Wallet, or KuCoin)

• October 9, 2024: This is the deadline to sell your tokens on a centralized exchange like KuCoin.
• April 9, 2029: Deadline for selling tokens at Uniswap V3 (5 years from the announcement).

Tokens held within the STC Wallet that are not redeemed by the deadlines will be automatically burned (removed from circulation). 

The Redemption Program Comes After StudentCoin's Team Announces Project Closure

This STC Token Redemption program comes after the StudentCoin's team announced the closure of the project. StudentCoin is closing its doors after carefully evaluating its current resources, project landscape, and future viability. 

They will use all of their remaining resources to repurchase all $STC Tokens from all holders.

It is important to note that, as of April 23, the absolute majority of $STC token holders have expressed their understanding and support for the decision to redeem all circulating tokens. Many people have thanked the team for their transparency and fairness during the process.

Despite closing its doors, Student Coin leaves a significant legacy. The project engaged over 300,000 users, listed the token on major exchanges, generated millions of campaign impressions, collaborated with over 20 educational and legal partners, directly employed over 80 individuals, and produced a vast library of educational content, reaching over 210,000 individuals. 

They developed the STC Wallet suite, launched the STC Terminal for token creation, established the popular Coinpaper news portal with over 60,000 monthly users, and co-created a Decentralized Exchange for derivatives. 

Furthermore, Student Coin demonstrated responsible financial management, minimizing costs and safeguarding finances during market downturns. 

However, the project acknowledges unrealized goals, including university hesitancy to launch official tokens, challenges in finding high-quality projects for startup launchpads, limitations in exchange development due to legal constraints, and the inability to reach 2021's token pricing levels due to a focus on building fundamental value. 

While Student Coin concludes its operations, the team remains dedicated to blockchain education through existing resources offered through Coinpaper.com.

About StudentCoin

StudentCoin's story started in 2019 with some curious students at Kozminski University in Poland. 

Back then, they called it the "ALK Token," and it was just a way to play around with the blockchain. This playing around involved sending, buying, and swapping digital tokens, and it went well! This way, it sparked an idea for these students: what if we could teach other students about blockchain in a cool, hands-on way?

That idea turned into reality with free token drops (airdrops) for students at Kozminski and other Polish universities. Students loved it, and by the end of 2020, StudentCoin had become a global movement. The utility token, now called $STC, was listed on crypto exchanges, allowing students worldwide to claim free $STC with their student ID. This created a global community of students interested in this new technology.

However, StudentCoin wanted to do more than just give away tokens. They wanted to make $STC even more valuable. So, they initially launched the STC Academy, a free online school to educate students about blockchain, cryptocurrencies, and security practices. After about 1.5 years, they grew their educational offerings by introducing STC University, which offered paid courses. Yet, both platforms are now slated for shutdown, with plans to migrate their educational content to CoinPaper.com's "learn" section. They also started working on tools like a StudentCoin Wallet, Exchange, and Terminal. 

Of course, things weren't always easy. In 2022, StudentCoin faced some challenges that forced them to change their plans a bit. Some of their original ideas, like creating tokens for universities and helping startups raise money, didn't work out as expected. 

Despite these setbacks, StudentCoin never forgot its focus on education. In 2023, they launched STC University, an even better version of the STC Academy with more advanced courses about blockchain. They also saw a huge jump in the number of people using Coinpaper.com, with nearly 20% more active users every month! 

However, today, in April 2024, StudentCoin is proud of what they've achieved, but they're also honest and transparent about the things they haven't been able to do.

Learn More

For further details on the reasons behind Student Coin's closure and information regarding its redemption program, please visit their official website.

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