The STK Token
Wow I’m very enthusiastic to introduce this new platform. I never thought there would be this latest platform to shop with an easy payment with the rise of cryptocurrencies globally, opening the eyes of the world will be great market value on cryptocurrencies. as we know the ease of transaction on access token will be increasing and the need for new technology is also on the rise.
Many developers improve the quality of each platform to attract investors to participate. every investor has some unique criteria to participate in every project profitable like a background of project, look at the market to decide on which Cryptocurrencies will continue to grow etc.
Ok now i will explained about new platform will make us surprised
The STK Token will provide instant cryptocurrency payments. To make instant payments at point of sale from a blockchain wallet requires we do a real-time exchange of cryptocurrency into fiat by using tap-to-pay on your smartphone via their app.
very few merchants accept cryptocurrencies at point of sale or online, consumers must exchange cryptocurrencies into their local currency to make everyday purchases. Through any existing exchanges this can be time consuming, and comes with sizeable fees. Though some companies have made products that enable retailers to accept Bitcoin payments, they are currently available at only a tiny number of locations.
How can be works ?
1. Creating a State Channel: The user loads their STK token into the STACK mobile wallet, which authorizes the creation of a State Channel with the STK platform. Both the user’s device and STACK keep a local copy of the current state of the channel. Creation of a state channel requires an on-chain operation.
2. Conducting Transactions and State Changes: When the user initiates a point of sale transaction using STACK, they receive a visual prompt in the STACK wallet showing the value of the transaction, similar to using traditional tap-to-pay mobile applications. Behind the scenes, the user authorizes a transaction to send the equivalent cryptocurrency to the STK platform.
Almost immediately, the STK platform receives the signed transaction, counter-signs and stores a copy of that new state off-chain. STK then authorizes its local currency account to pay the requested purchase through its global payment network rails on behalf of the user. Because the transaction occurs off-chain, there is virtually no delay except for a small amount of computation time and network latency.
3. Keeping Funds Ready: So long as the State Channel is open, there are no fees for conducting any number of transactions between the user and STK. Moreover, there is no fee for keeping the channel open.
4. Withdrawing Funds: If the user wants to retrieve all or part of their STK token in the channel that has not been sent to STK, they can do so by withdrawing their funds. The user signs and publishes a withdrawal request, which requires an on-chain operation. It is possible to make partial withdrawals, so the user is always secure in being able retrieve his or her ether while still keeping the channel open for future transactions with the STK network.
5. Closing: To close a State Channel, one of the parties signs and publishes a close request to the State Channel. This initiates a period during which either party can submit their most recent transactions, which determines the final state of the state channel.
Security STACK uses industry-leading safeguards to protect your money, data and privacy, so accounts are secure and protected.
- Chip and Pin EMV Cards
- Transition Notifications
- In-app card freeze, pin resets
STACK has built in KYC, AML and fraud monitoring processes
- Onboarding process utilizes waterfall methodology to verify the user using Trulioo’s GlobalGatewayTM
- AML Watchlist to comply with domestic and global Anti-Money Laundering (AML), Counter Terrorist Finance (CTF), and sanctions enforcement regulations.
The ICO ?
When:
Available for purchase on the STK token sale site (www.stktoken.com) commencing November 13, 2017 at 17:00:00 Coordinated Universal Time (UTC). The sale ends November 24th, 2017.
Token name:
Stack (STK)
Total supply:
1,000,000,000 (1 Billion) STK
Distribution:
STK are hosting a token distribution event of which 550,000,000 (550 Million) STK tokens will be sold out of a 1,000,000,000 (1 Billion) supply
55% -ICO
25% -Held for transactional costs and to expand liquidity pool for future growth
10% -Founders and development team
5% -Advisors
5% -Token sale costs
Price per Token:
1 Eth = 1489 STK
Soft cap (minimum needed to go ahead) -3600 Eth
Hard cap (maximum that can be raised) -310,345 Eth
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