STFX is a DeFi and SocialFi protocol designed to facilitate social trading and automated investment opportunities. It allows traders to monetize their trade ideas and investors to profit from these ideas through a unique gamification model. The platform utilizes non-custodial vaults dedicated to single trades, enabling users to deploy, manage, and invest in these vaults based on their market views. The native token, $STFX, has a hard-capped supply of 1 billion units and is designed to exhibit deflationary properties over time.
The crypto STFX (STFX) is the native token of the STFX platform, a DeFi and SocialFi protocol for short-term asset management. It is designed as a utility token, serving various key functions within the network. The token is deeply embedded into the platform and powers the entire STFX ecosystem.
Staking and BurningStaking STFX unlocks a series of benefits, including:
- 10% Annual Percentage Rate (APR)
- Trading and Investment Rebates (up to 0.05% of personal volume)
- Greater Vault Capacities
- Greater Performance Fees
- Longer Vault Duration
- More Simultaneous Vaults
- Secret Vaults (hiding trade details)
Staking is available on both Ethereum and Arbitrum blockchains.
Buyback and BurnThe platform employs a buyback and burn mechanism, where a large amount of STFX tokens are burned weekly, permanently removing them from the supply. This process turns the token into a deflationary asset, scaling with the increased use of the dApp.
GovernanceThe governance of STFX is fully determined by the holders of the STFX Token. By staking their STFX tokens, users get twice the amount in gSTFX, the protocol escrowed token, which enables them to participate in governance decisions.
Additional Uses- Staker Rewards for Volume: Stakers of STFX tokens receive further rewards in the form of STFX for every trade they are a part of, up to 0.05% of their volume.
- Buyback and Distribute: Some of the bought-back tokens are distributed back to users of the dApp, incentivizing users to hold and stake the native token.
Overall, STFX is designed to provide a range of benefits and incentives to users who stake and hold the token, enhancing their experience within the STFX ecosystem.
To store STFX tokens securely, you can use a non-custodial multi-coin wallet like COINS, which allows you to store over 2000 crypto assets, including STFX, on your mobile device.
To buy STFX tokens, follow these steps:
Choose a Crypto Exchange: Select a reputable cryptocurrency exchange that supports STFX, such as CoinEx or MEXC. Ensure the exchange is available in your region and offers the necessary trading features for your needs.
Create an Account: Register a free account on the chosen exchange by providing required personal information, including your email address. You may need to complete Know-Your-Customer (KYC) verification to increase withdrawal limits and unlock additional features.
Fund Your Account: Deposit funds into your exchange account using methods such as credit or debit cards, bank transfers, or peer-to-peer trading. The specific options may vary depending on the exchange.
Place a Buy Order: Navigate to the exchange's Buy & Sell section and select STFX as the cryptocurrency you want to purchase. Choose the order type that suits your needs, such as Market Order, Stop Order, or Limit Order.
Transfer STFX to Your Wallet: Once you have purchased STFX, you can either hold it in your exchange account or transfer it to a personal cryptocurrency wallet, such as Metamask Wallet, for additional security and flexibility.
Monitor Your Investment: Keep track of your STFX investment performance and adjust your strategy as needed. Stay informed about market trends and news to make informed decisions.
Remember to research the exchange's fees, security features, and supported currencies before making a purchase.
