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I am currently the CEO of STP Network. Also, we founded Block 72- a global consulting firm specializing in blockchain and distributed ledger technology. I am also a founding partner of GBIC- a global multi-strategy cryptofund
I graduated from Columbia University where he earned a BS (Bachelor of Science) in Operations Research and thrives in learning every step of the way and enjoys being exposed to a wide array of experiences and discourses. With two years management consulting experience at Ernst &Young in New York City, I have executive experience in strategic planning, product development, and process improvement for operational efficiency.
My diversified education background brings me multisectoral insights and perspectives with a broad global experience.
Hi Everyone, I am Sinhae, co-founder of STP Network.
Mike, Richard, and I have been working together for more than three years in the industry and founded successful businesses in the industry including Block72 — a comprehensive blockchain consulting firm based in the U.S, China, and Korea.
Prior to founding Block72, I have been deeply involved in the FinTech/blockchain industry in Silicon Valley. I led business development and operations at a payment start-up, Coin, which was acquired by FitBit in 2016 and later worked at NerdWallet, a FinTech start-up in San Francisco. I started my career as a management consultant at McKinsey & Company. I bring my Silicon Valley and consulting experience to the blockchain/crypto industry.
I hold an MBA from Stanford University and a B.A. in Business from Korea University.
Our management team who have been in the blockchain industry full time since early 2017 believes that the ecosystem for the discovery and growth of digital assets is ineffective starting with the tokenization process. We wanted to build an ecosystem where people can easily digitize existing assets and use them. Standard Tokenization Protocol is an open-source standard defining how tokenized assets are issued and transferred while complying with all necessary regulations. We already have traditional law-firm partners such as Dentons, and smart contract auditors such as Haechi Lab, as well as several service partners.
There are a few things we want to make STPT as - 1. a global token (through liquidity and utility) and 2. a global ecosystem for efficient tokenization (through platforms and service partners). For the first goal, we need liquidity and global exchange support like Binance. For the second, we need adoption, service partners and real world projects to issue on our network.
1. The best team and commitment. The management team has built successful businesses in the blockchain industry for over 2 years already. Also, the team tokens are on a 3.5 year vesting schedule with 0% being unlocked at the current time. The team even delayed the first schedule team token unlock for an additional 6 months until July 2020 to demonstrate its commitment to the project.
2. Our successfully built and expanding ecosystem. STP Ecosystem which is a network of partnerships between projects across the blockchain/crypto landscape include Solana, Aergo, Messari, Staked, KYC-Chain, and dozens more. Additionally, many projects that are listed on Binance including Ontology, MovieBloc, Aelf, Contentos, Troy and many others showed support to STP Network on twitter for the vote.
3. Our token structure: Demand for STPT is very clearly being driven by growth of the STP Ecosystem. Each new user, partner, or member creates new use cases, since the token facilitates multiple types of interaction between all Ecosystem participants. For example, our new partnership with Cobak (the biggest blockchain/crypto community in Korea) should dramatically increase demand for STPT as ~400k MAUs would immediately join the STP Network. Also, with our continuous PoB buyback, the demand for STPT will increase long term whereas our supply will be limited.
On the blockchain side, Tokenization fees for issuing STP-Standard tokens on the STP network that comply with the framework embedded in the Compliance Validator.
Staking mechanism whereby token holders stake an amount of STPT proportional to their confidence that all CV requirements are met, and they either earn tokens as a reward for honest behavior or else lose their stake to reward honest stakers, with a small Gas fee returning to the network.
More importantly, on the business side, We have a program called Proof of Business (PoB) Buy back program that engages with STPT ecosystem partners. As an example, Block72- STP Netwokr’s operating partner, will use 25% or its quarterly revenue to buy back and burn STPT from the secondary market. We have been doing this since beginning and burnt about 10% of the circulation supply.
Also, we are planning to do more buy backs in the future.
When you said staking, how much is the annual yield percentage that users will get by staking their tokens for 30 day periods?
up to 32% annual so about 2 -3% monthly
Our focus on adoption will be to grow our platforms like Blockzone.com (50K MAU) where users can use, stake and earn STPT while engaging with other projects tokens through micro token offerings (MTO's), airdrops, bounties, staking. For example, we just did a bittrex global bounty, and where users received 200K USD worth bittrex trading credits. Additional MTO's include BAT, XTP, PCM etc. We also are integrating STPT into other major global platforms. For example, we just co-acquired Cobak which is the biggest korean crypto community platform with 400K active users and 75K+ wallets. STPT will be integrated into the platform and used by Cobak’s hundreds of thousands of Korean users.
MTO is a new type of token offering by STP. STPT token holders can participate in a competition for a chance to win unlocked tokens of top-quality projects from the STP ecosystem at significant discounts. Participants use STPT to participate in the MTO — the more STPT they use to participate, or the more STPT that they stake the better their winnings. All STPT are sent to the MTO pool and will be part of a provably fair process to determine the winners. The handful of winners get access to new project tokens and all the remaining STPT from the competition will be locked permanently. At the moment, we are offering airdrop type of MTO for our stakers too. At the moment, we are offering airdrop type of MTO for our stakers too.
We have conducted 7 MTOs and 3 bounty programs before and after we launched our web platform Blockzone.com so far. In short, for STPT stakers, if they participate more STPT activiteis, they will have more staking returns than 32%
Here are some MTOs that we conducted in the past:
MTO
MTO 1: MBL - 1,199 participants
MTO 2: BTMX - 2,221 participants
MTO 3: TT - 2,735 participants
MTO 4: AERGO - 2,818 participants
MTO 5: PCM - 2,000 participants (2000 max)
MTO 6: BAT - 1,000 participants (700+ people downloaded and installed brave browser with this event)
MTO 7: TAP - 150 participants (150 max)
Airdrop Bounty
Bounty 1: APM - 2,476 participants
Bounty 2: Bitmov.io - 3,019 participants (Both on Blockzone and Gleam.io)
Bounty 3: Bittrex Global - 3,436 participants
Demand for STPT is very clearly being driven by growth of the STP Ecosystem. Each new user, partner, or member creates new use cases, since the token facilitates multiple types of interaction between all Ecosystem participants. For example, a new partnership with Cobak (the biggest blockchain/crypto community in Korea) should dramatically increase demand for STPT as ~400k MAUs would immediately join the STP Network.
1) Increase more DAUs for our platform Blockzone.com, currently is 50K
2) List STPT in more global exchanges, winning the Binance votes is a good start
3) Mainnet launch in Q3
4) Grow demand for STPT by driving the growth of STP Ecosystem. For example, new partnership with Cobak (the biggest blockchain/crypto community in Korea) should dramatically increase demand for STPT as ~400k MAUs would immediately join the STP Network.