{"id":1464,"date":"2021-07-30T09:52:27","date_gmt":"2021-07-30T09:52:27","guid":{"rendered":"https:\/\/deficoins.io\/?page_id=1464"},"modified":"2021-07-30T09:52:27","modified_gmt":"2021-07-30T09:52:27","slug":"strike-review","status":"publish","type":"page","link":"https:\/\/deficoins.io\/review\/strike","title":{"rendered":"Strike Review: Your Comprehensive Guide To Understand All About STRK Tokens"},"content":{"rendered":"
Strike is a decentralized lending project. It\u2019s a Compound<\/a> finance fork built to facilitate higher availability of acceptable collateral and reduce the new collateral entry threshold.<\/p>\n Before now, making proposals and votes on protocols always have the challenge of losing the protocols\u2019 scalability, security, or both. However, the emergence of Strike created a bridge for more new collateral without loss of security and scalability on a protocol.<\/p>\n In this Strike review we’ll highlight how it works, its governance token STRK, and how to buy Strike. Also, you will learn the uniqueness of this DeFi protocol.<\/p>\n Contents<\/p> Strike is a DeFi lending protocol built on the Ethereum blockchain. It allows interest earning for users who deposit their cryptocurrencies within a non-custodial environment. The protocol enables users to control their digital assets always. However, they are directly bound by the project\u2019s on-chain restrictions.<\/p>\n Through its operability, Strike\u2019s major objective is to allows users to earn interest from their collateral in two ways. The first way is to earn as a supplier. This means that by depositing tokens, you will receive sTokens. What you receive is a representation of your stake in the pool supported by Strike.<\/p>\n Also, you can retrieve your initial deposits from the pool any time you wish. For instance, when you deposit BTC in a pool, in return, you get sBTC.<\/p>\n Progressively, the exchange rate for the sTokens may increase after some time following the original cryptocurrency. In that case, you\u2019ll be able to redeem more of the original cryptocurrency than you deposited. The excess amount represents the interest you have earned.<\/p>\n The second way of earning is by borrowing other cryptocurrencies from the pool when you deposit your holding asset as collateral. There’s a variation in the maximum loan-to-value (LTV) ratio, which depends on the collateral cryptocurrency.<\/p>\n However, the current range lies between 50% \u2013 80%. Similarly, the variation of the interest paid rate depends on the borrowed digital asset. A borrower will face automatic liquidation when there’s a drop in the deposited collateral below a given maintenance threshold.<\/p>\n There is no known founder or team for the Strike protocol. Spend.com launched this decentralized finance project on March 30th<\/sup>, 2021.<\/p>\n Through the launch, users got the empowerment to utilize their STRK, the Strike Governance Tokens. The token governs and rewards the protocol. \u00a0It\u2019s an open-source protocol on the Ethereum blockchain that runs using smart contracts. It has full operation by its DAO community.<\/p>\n Following its launch, Spendchain moves for a rebranding to Strike. The conversion of SPND to STRK was at the rate of 1,000 to 1. This means that for every 1,000 SPND coins a user has, he will get 1 STRK coin.<\/p>\n Furthermore, the team supply was burned to eliminate any subsequent team supply conversion. The current token holders now have full control of the protocol without third-party interference. Spend.com launched the Strike governance token (STRK) without any ICO. Users have the choice of either mining STRK or buying it from other users.<\/p>\n The cryptocurrency has a market capitalization of over $160 million. At the time of this writing, the current ranking for Strike protocol is significant.<\/p>\n The Strike protocol is a fork of the Compound Cryptocurrency, developed to correct the flow of digital assets through a decentralized manner. During its development, Strike had all the trendy configurations and innovations. Also, using the native token STRK, users can necessary changes and improvements to the protocol.<\/p>\n Strike maintains a very high level of community distribution. Its token distribution has no shareholder, venture capital, or advisor\/founder token shares. It follows a principle of ‘Governors,’ 21 delegated addresses by the Strike Token holders. Governors come from the top 21 weighted addresses in the protocol. It can be either from the STRK balance or the delegated STRK balances.<\/p>\n The protocol uses 28 days Epochs to set the Governor\u2019s cycles. At the expiration of an Epoch, there will be an election of a new set of Governors. There can be reelection of the previous ones or selection of new ones that form the top 21 addresses on the protocol.<\/p>\n The Governors will whitelist new digital assets that can be added to the protocol. This will protect Strike from malicious attacks that may come from an unauthorized participant. Also, it will increase the scalability of the Strike as a decentralized finance protocol.<\/p>\n Using community governance distinguishes Strike from other likely Defi protocols. STRK holders decide on the entire changes and others exclusively without the interference of the protocol\u2019s team. They recommend some protocol changes, as well as deliberate and vote for the implementation of such changes.<\/p>\n Some of the issues they handle include adjusting collateralization conditions or selecting the digital assets to support. Also, they may decide to alter the distribution ratio of the STRK tokens.<\/p>\n Usually, you can get STRK tokens by buying from an exchange, taking a loan, or depositing other cryptocurrencies.<\/p>\n The Strike native token, STRK, governs and rewards the protocol. Strike runs on the Ethereum blockchain; hence STRK is an ERC-20 token.<\/p>\n The Strike project has a fixed number of its native token, STRK, similar to many other cryptocurrencies. The total maximum supply of STRK is 6,540,888 tokens, of which the circulating number is 2,540,888.<\/p>\n The Strike token migrated from the conversion of Spendcoin in the ratio of 1,000 SPND to 1 STRK. Since there was no ICO or additional sale of STRK, users can either buy the token from holders or mine from the protocol.<\/p>\n For mining STRK from the protocol, Strike makes a distribution based on the market\u2019s distribution weight. According to the distribution, both the suppliers and borrowers get 50%. However, the distribution ratio depends on all respective markets\u2019 borrow sizes.<\/p>\n The Strike protocol has a future plan of distributing 4 million tokens to its users within 8 years. The distribution breakdown is set at 500,000 STRK per year. At the time of writing, the price of STRK is $48.66 per token.<\/p>\nWhat is Strike?<\/strong><\/span><\/h2>\n
\u00a0History of Strike<\/strong><\/span><\/h2>\n
What makes strike unique?<\/strong><\/span><\/h2>\n
Strike Token (STRK)<\/strong><\/span><\/h2>\n