Statercoin (STAT) - FIRST CRYPTO MARKET NETWORK
Cryptocurrencies (digital currencies that operate independently of centralized banks – using encryption techniques to regulate the generation of units of currency and verify the transfer of funds) were first created in the wake of the global financial crisis of 2008 by the inception of Bitcoin.
Since the creation of this revolutionary new currency type, over 1000 cryptocurrencies have been created.
By introducing two market platforms and a new global mobile form of payment, Stater will shape the future of cryptocurrency as we know it. Security, simplicity, and speed are to become the hallmarks of Stater transactions.
Stater aims to become the first crypto coin that will familiarize the world to the cryptocurrency revolution by introducing two crypto platforms directly to the general public. The first will promote P2B (peer to business) transactions via the website Staterspots.com, while the second will enable P2P (peer to peer) transactions through Statermarket.com. Both will use the new Stater coin. Complementing the two networks by 2018 will be a total of six mobile applications (3 Android and 3 iOS).
Our P2B platform Staterspots.com will be dedicated to businesses that accept Stater as payment, while Statermarket.com will be dedicated to P2P transactions. Each platform will have its own Android/iOS mobile application allowing users real-time access to new listings in the market.
It is widely recognized that the vast majority of the general public are still relatively unaware of the existence of cryptocurrencies, let alone the advantages and investment potential of such currencies.
Our team is of the belief that cryptocurrencies are the future of capital. Like the internet revolutionized the spread and speed of information, cryptocurrencies will likewise disrupt the financial status quo.
The fundamental issue facing cryptocurrency owners is the inherent difficulty of utilizing a digital currency- how are they able to purchase goods and services using this new form of payment?
Furthermore, the exchange that is required to transform their digital currency into fiat, or vice versa, involves unavoidable transaction fees that can often be prohibitively high.
Combine the above problems with the fact that not all countries offer the ability of such an
exchange makes it clearly apparent why cryptocurrencies are not yet a mainstream method of payment.
Stater aims to overcome these issues with the creation of a mobile application that would allow for direct real-time transactions. Gone is the need for an exchange into a fiat currency – Stater coins would be used to settle the transaction instead and the normal fees are thereby avoided.
The solution will be realized by the creation of the two aforementioned platforms – Staterspots and Statermarket.
Staterspots will allow businesses to list themselves and their products while Stater users can use this site to locate and browse products. A special location function in the mobile application will allow users to ‘spot’ businesses accepting Stater in their immediate vicinity.
Statermarket is designed to function as an online marketplace for P2P transactions. It is envisaged as a local market on a global scale where buyers and sellers do business using Stater as payment.
Stater will have a fixed minimal transaction fee of 0.5% which ensures both businesses and individuals retain the agreed price.
The Stater application is designed to allow individuals and businesses to transfer Stater in a swift and secure manner. Since users will not need to wait for confirmations the ability to pay or receive payment is instant.
In order to provide the user with a full set of application controls, the application will come equipped with high integrity safety layers.
The Stater application will be released on the Android operating system first, followed later in 2018 by an iOS version.
Stater will introduce the platform Staterspots.com, dedicated to both consumers and businesses alike. Businesses that accept Stater as a form of payment will be able to use the site to:
1. Register the location of their business
2. Insert their products and services into the Stater network
Staterspots.com will come with its own native and dedicated mobile application allowing individuals to locate businesses that accept Stater as a form of payment.
Additionally, a business that is listed on the Staterspots platform will not only receive (free) local exposure but also benefit from the market opportunities arising from such a listing.
As cryptocurrencies become more and more mainstream, the need for businesses to accept
such a form of payment has also increased. Unfortunately, the majority of businesses not only lack the knowledge and tools needed to accept such forms of payment but are also unaware of the advantages of such transactions.
Staterspots.com will seek to close this knowledge gap through focused marketing campaigns aimed to educate those about the benefits of accepting Stater as a form of payment.
Lastly, Staterspots.com addresses the issue of bringing those owning cryptocurrencies and wishing to use Stater for purchasing goods and services from listed businesses–together onto one viable platform.
Buoyed by the exponential growth of P2P buying and selling over the recent years, we at Stater believe this is a trend that will only continue into the future. In order to facilitate the bringing together of those wishing to buy or sell using Stater- in a safe and ease of use environment - Statermarket.com was conceived.
Statermarket.com is a platform dedicated to cryptocurrency users who are willing to sell their new and/or used products locally on a market style website.
Statermarket users who would like to offer their products can easily list or update them online and set a Stater price. A meeting using the encrypted chat function - initiated from either within the website or via the Stater app - can be used to arrange the exchange for Stater. Adjustments to the local currency on the day of payment can be instantly made via the app.
We believe the platform will be of great benefit to both parties. The seller will receive Stater - while the buyer has the opportunity to pay for goods and services in Stater - without the usual remuneration loss when exchanging to fiat.
Statermarket.com will be available on both Android and iOS applications – making listing and browsing user-friendly and readily accessible.
Stater coins can be used via the mobile application to transfer funds, buy products or services, or for those wishing to invest long-term- simply acquire and hold. We are of the opinion that Stater-with its two networks and six applications to support it- will become an eventual valuable asset.
Being the first cryptocurrency to introduce two online market platforms – enabling both the ability to buy and sell in Stater via Statermarket.com or list as a business and be found via Staterspots.com – Stater will seek to solve THE major problem facing the crypto community today.
As seen in the graph below, Stater’s value is set to increase incrementally every following year.
Masternodes and Meganodes
Stater is designed as a full PoS (proof of stake) cryptocurrency, offering a strictly limited number of Master and Meganodes. A maximum of 100 Meganodes and 1500 Masternodes can run simultaneously at any given time and if one Masternode or Meganode leaves the network can another take its place.
In order to set-up a Meganode, a Stater holder needs a minimum of 10,000 STAT and a private key. To form a Masternode, a Stater holder needs a minimum of 1,000 STAT and a private key. Nodes and keys will be available to early investors in the ICO. Should anyone miss the opportunity to purchase either of these Nodes during the ICO, the ability to request a private key will be available via the website statercoin.io. A ‘first come, first served’ rule is in operation and the moment a node becomes available, those registered are contacted in descending order via an email – containing detailed instructions and a seven-day period in which to set-up a Meganode or Masternode.
Why invest in Nodes?
The team at Stater has developed a rewards system that divides the creation of new Stater coins between Masternodes and Meganodes. 100% of the new coins will be generated by the nodes of which 10% is dedicated to the governance system.
The rewards system will start with a ratio of 1 Stater per day for Masternodes and 15 Stater per day for Meganodes. The return ratio will remain stable for the first decade, rewarding each holder of nodes with the same amount of Stater coins. Rewards will automatically decrease by 50% with each following decade.
The underlying reason for the creation of a limited amount of nodes is to ensure that our initial investors have a stable and guaranteed return of rewards in the following years.
Meganodes Rewards - 15 STAT per day
The chart on the right shows the exact amount
of Stater coins each holder of a Meganode
will receive annually for the first 5 decades
Year 2018 to 2027 - 5475 Stater/year
Year 2028 to 2037 - 2737.5 Stater/year
Year 2038 to 2047 - 1368.8 Stater/year
Year 2048 to 2057 – 684.4 Stater /year
Year 2058 to 2067 – 342.2 Stater/year
The ICO price is 1 STAT = 0.00025 BTC.
A Stater holder will need 10,000 STAT to
form a Meganode. With ICO price, the ROI will be 1.368 Bitcoin annually.
Masternode Rewards 1 STAT per day
The chart on the right shows the exact amount
of Stater coins each holder of a Masternode
will receive annually for the first 5 decades.
Year 2018 to 2027 - 365 Stater/year
Year 2028 to 2037 - 182.5 Stater/year
Year 2038 to 2047 - 91.25 Stater/year
Year 2048 to 2057 - 45.6 Stater /year
Year 2058 to 2067 - 22.8 Stater/year
The ICO price is 1 STAT = 0.00025 BTC.
A Stater holder will need 1,000 STAT to form a Masternode. With ICO price, the ROI
will be 0.091 Bitcoin annually.
Shown in the chart below is a detailed breakdown of Stater’s roadmap for the yearly generation of coins for each node - and the rewards (in coins) for each Meganode, Masternodes, and Governance.
We are launching an open Bitcoin (BTC) coin sale to raise funds for the Stater project. We will be
raising a minimum of 1.000 BTC and maximum of 4.550 BTC (both inclusive) during the sale. The
number of coins issued per Bitcoin will be 4000 STAT (1BTC = 4000 STAT). You will be able to buy
Stater using a minimum amount of Bitcoin (0.01 BTC = 40 STAT).
Countdown timer begins for public Stater ICO: September 29, 2017
- ICO start date & time: October 14st 2017, 5PM UTC
- ICO end date & time: November 14st 2017, 5 PM UTC
- ICO duration in days: 31 Days
- ICO price: 1 STAT = 0.00025 BTC
- Total coins on sale: 18,200,000
- Retained by Stater: 1,000,000
- Referral bonuses (5%): 800,000
- Total initial Stater Supply: 20,000,000
- Softcap ICO in Bitcoin: 500 BTC
- Minimum purchase per account: 40 STAT
- Maximum purchase per account: 100,000 STAT
- Meganodes max purchase per person: 2
- Masternodes max purchase per person: 5
- Accepted crypto currency: Bitcoin (BTC)
- Refund if ICO fails to achieve the softcap target: Yes
- Coin Issuance: Initially, to your website account and after ICO to holders wallet.
- Remaining coins after ICO: If the soft cap target is reached - and should there be any coins
- remaining -these will be used towards future development.
- Escrow for the raised fund: Yes, BTC multisig 4/5 Wallet.
Stater Governance System
The Stater governance system will be implemented in Q1 of 2018 and will provide for the
effective management of financing the future development of the Stater coin. This governance
system will be accessible by our community and used in the decision-making of future features
that will be implemented on the blockchain. Through the proposal system - Meganode and
Masternode holders are able to vote at what will be implemented by Stater’s developers.
The existence of a governance system allows Meganode and Masternode holders to exercise
their influence in a transparent and fair way in the way development is undertaken at the
As we regard the community as forming the foundation of the Stater blockchain we firmly
believe that a governance system will create an environment where faster and better-informed
decisions can be made.
Proposals for future development and expenditure will need to be approved by a minimum of
50.1% of the Masternode-Meganode network before they can be actioned and implemented.
On completion of the ICO, the funds raised will become available to the Stater team. An escrow
arrangement is in place whereby a Bitcoin multisig wallet is active. Before a withdrawal can be
performed, 4 out of the 5 wallet signatories are required to approve the transaction. Financial
transparency and security are hereby guaranteed.
Responsible for the multisig wallet:
Andy Psallidas – Founder, Project Manager
Sakis Makrigiannis –Co-Founder, Web Designer and Developer
Nick Chatzidakis – Software Engineer
Mike Michailidis – Developer, System Admin
Alex Munnik – Marketing Manager
The ICO balance will be released via a Bitcoin multisig wallet ‘4 out of 5’ arrangement.
Funds will be released as the following milestones are met:
1. Stater post-ICO complete: 30% funds released
2. Milestone 1: Websites and Android apps are introduced to the markets: 20% funds released
3. Milestone 2: iOS applications are released: 10% funds released
4. Milestone 3: Global expansion starts, marketing Stater: 40% funds released
The proceeds of the funds raised will be used for the future development of Stater - all with the
goal of becoming the most reliable, fast and secure cryptocurrency on the market. To
accomplish our developmental roadmap, Stater will need additional human resources in the
areas of development, quality assurance, marketing, legal and general operations. See graph
below for the proposed allocation of raised funds.
•Engineering and product development: Hiring of developers and quality assurance resources
or the overall development of Stater, its two associated market platforms, and the six mobile
•Marketing and Promotion: To execute the marketing plan, advertising Stater to the general
public and increasing its global exposure.
•Legal and Regulation: Establishing legal entities, compiling with regulation and dealing with
any legal obligation the project may face.
•Operational and Administration: Salaries and operational costs of the development team
alongside the purchase of necessary hardware/software.
•Miscellaneous: Dealing with the unexpected and/or minor expenses incurred for the
implementation of the project.
In Q2 of 2017 the idea of a coin that will allow safe and easy P2B and P2P transactions was formed. It was later in the year that we decided to name this new coin Stater
Wallet was created (alpha) before ICO launch
ICO will take place between 14 October – 14 November
Meganodes and Masternodes will be up and running by Q1 of 2018
The Android app for making transactions with Stater will be released
The website and android app for businesses to register their stores, and for consumers to spot them will be up and running after the release of the android app
The website and android app for Stater Users to list, buy , sell and find products will be released
1st wave of Marketing campaign
3 iOS apps will be released:
- Official Stater
Creation of Plugin allowing business to accept online payments.
Businesses will be able to create a personalized address to accept Stater
Stater will start advertising on a global scale ( 2nd wave of Marketing)
Andy Psallidas - Founder, Project Manager
As an entrepreneur and early crypto investor with a strong financial background and 8 years
worth of social media and e-commerce experience, the Stater project is Andy’s brainchild.
Andy’s vision of a crypto market network sees him responsible for the overall planning and
execution of the Stater project.
Sakis Makrigiannis - Co-founder, Web designer, and developer
Sharing Andy’s vision, Sakis is in charge of the development of the Stater project. With 8 years of
freelance web design and application development behind him, Sakis brings the experience of
over 60 projects to the table.
Nick Chatzidakis - Software Engineer
In short - Nick is the mastermind behind the Stater coin - and it is his code that brings the coin to
life. As a GNU/Linux enthusiast with 12 years of experience in C/C++ and Qt framework, Nick is
responsible for the development of the overall Stater network and wallet.
Mike Michailidis - Developer, System Admin
Like all system administrators around the world, Mike’s focus and responsibility is for the
upkeep, configuration and reliable operations of computer systems. Mike is also the founder
and technical manager of RM-Group.
Yannis Karathanos - Web Developer
Yannis is the project’s backend web developer with more than 5 years of PHP experience. Like
most Stater team members, Yannis has participated in various web application projects.
Anthony Zachos - Android Developer
An avid Java enthusiast and all-round code geek, Anthony is in charge of the Android
development of the Stater application. Anthony brings more than 5 years of C++ and Java
goodness to the team.
Thanos Triantos – iOS Developer
Like Anthony, Thanos lives and breathes code. A freelancer with more than 6 years of
experience in Objective C and swift, Thanos is responsible for the development of the iOS
applications for the Stater network.
Constantine Katsioulas - Graphic Designer
It’s Constantine’s job to not only make the GUI look good but function smoothly. Responsible for
the ‘look and feel’ of the Stater GUI, Constantine brings over 6 years of experience in GUI design
to the project.
Alex Munnik - Marketing Manager
Responsible for the development and execution of Stater’s marketing campaigns and overall
strategy, Alex will use his experience of over 10 years as an e-commerce entrepreneur - and
former senior business developer for a leading online retail company in the Benelux - to
promote Stater on a global scale.
Veniamin Sirbu - Business Development
With his degree in International Economic relations and over 5 years of e-commerce sales,
Veniamin is the experienced sales manager in charge of Stater’s business development.
David Philips - Senior QA test manager
With over 15 years of professional software testing experience, David has made the delivery of
quality software his goal since first becoming involved in mobile Telecommunications testing
during Y2K. Educated at the University of Canterbury in New Zealand and graduating with a
Bachelor of Arts (Hons) degree in 1995 - David has worked in various countries on large
Telecommunication projects. Now the test manager for a large New Zealand financial
institution, it is his aim to ensure all Stater applications and platforms are free from critical
JJ v/d Hoek - Senior brand manager
With over 12 years of experience in the media and marketing industry, Jan Jaap brings a broad
range of international expertise in all related disciplines.
Educated in the Netherlands at the Utrecht School of the Arts - graduating in 2002 with a
Bachelor of Arts and Economics, specializing in media management - Jan Jaap’s experience with
PR, branding and global corporate partnerships is hugely beneficial to the project. As a firm
proponent of the blockchain technology since 2015, his energy and enthusiasm ensures a
committed focus to the success of Stater.
Theo Papadopoulos – Marketing Consultant
With over 17 years of experience in the printing and marketing industry, Theodore owned and
operated the primary printing company behind the 2004 Athens Olympics. Educated at Hull
University in England - graduating with a Bachelor of Business in 1998 - Theodore is currently
the owner of a marketing consultancy business in the Balkans.