STRK

Overview of STRK

STRK, short for Strike Token, was founded in 2021 by main founders Mark Chang and Brad Armstrong. As a kind of cryptocurrency, it is supported by several prominent exchanges including Binance, Huobi, and CoinBase Pro. Users can store their STRK in wallets like Metamask Wallet and Trust Wallet.

Strike (STRK) is a decentralized finance (DeFi) lending protocol that enables users to earn interest on their cryptocurrencies by depositing them into various markets supported by the platform. When users deposit tokens into a Strike market, they receive sTokens in return, representing their stake in the pool. These sTokens can be redeemed for the underlying cryptocurrency at any time. The interest is distributed as the exchange rate of these sTokens to the underlying asset increases over time. Borrowers can also take secured loans from any Strike pool by depositing collateral, with the loan-to-value (LTV) ratio ranging from 50% to 80% based on the collateral asset.

Pros and Cons

What Makes STRK Unique？

The primary innovation of the STRK, or Strike Token, lies in its unique approach to decentralized finance. It combines traditional financial aspects with blockchain-based solutions to provide a new way for users to interact with their digital assets. While not unique in this concept, what distinguishes Strike Token from many other cryptocurrencies is perhaps the vision of its founders and their specific set of strategies to put this vision into practice.

How Does STRK Work？

The STRK, or Strike Token, operates based on the principles of decentralised finance (DeFi), where traditional financial activities are implemented on a blockchain. Under the DeFi model, STRK provides a medium for exchange between users that eliminates the need for central intermediaries such as banks and traditional financial institutions.

STRK uses smart contracts, self-executing contracts with the terms of agreement directly written into code lines, enabling trustless transactions among parties. These transactions are transparent, traceable, and irreversible, thus providing a secure environment for digital assets' movement.

Exchanges to Buy STRK

Here are some of the main exchanges where you can buy the STRK token:

1. Binance: A major global cryptocurrency exchange that might offer STRK in pairs with popular cryptocurrencies like BTC, ETH, and fiat currencies like the USD or EUR.

2. Huobi: Another substantial global exchange that could provide STRK trading pairs with cryptocurrencies like BTC, ETH, or stablecoins like USDT.

3. Coinbase Pro: This US-based exchange is known for its broad selection of cryptocurrencies, and it's likely to offer STRK in pairs with currencies like USD, EUR, GBP, and cryptocurrencies like BTC, ETH.

4. Kraken: A globally recognized exchange, Kraken could potentially offer STRK trading pairs with popular currencies such as USD, EUR, and cryptocurrency pairs like BTC and ETH.

5. Bitfinex: Known for supporting a wide range of cryptocurrencies, Bitfinex might offer STRK trading pairs with currencies like USD, and cryptocurrencies including BTC, ETH.

How to Store STRK？

Storing STRK, or Strike Token, involves using a digital wallet capable of holding the specific type of cryptocurrency. Notably, STRK can be stored in wallets that are compatible with Ethereum-based tokens, as it follows the Ethereum blockchain's ERC20 standard. There are mainly two types of digital wallets that can be utilized:

Software Wallets:

These are programs that can be installed on devices such as laptop, desktop, or mobile phones. Two commonly used software wallets compatible with STRK are: Metamask\Trust Wallet.

Hardware Wallets:

Hardware wallets refer to dedicated physical devices built to store the user's cryptocurrency securely offline, protecting it from online threats. Examples of hardware wallets compatible with Ethereum-based tokens like STRK include: Ledger\Trezor.

FAQs

Q: How is the Strike Governance Token (STRK) integrated into the protocol？

A: STRK governs and rewards the protocol, and users can make protocol improvements and changes through the Governance module powered by STRK.

Q: What was the conversion rate of SPND to STRK？

A: The conversion rate of SPND to STRK was set at 1,000 to 1, meaning for every 1,000 SPND coins, a user could convert it to 1 STRK.

Q: How many STRK tokens will be distributed over the liquidity mining period？

A: 4 million Strike Governance tokens (STRK) will be distributed over the liquidity mining period, which is set for 8 years.

Q: Was there an ICO or token sale for STRK？

A: No, STRK did not have an ICO or any token sale; users can only mine STRK or purchase it from other users to use on Strike.