The clock is ticking for Student Coin holders. The STC Wallet users have less than three months to redeem their tokens. The redemption process was launched on April 9 this year, with several stages scheduled for a total of five years.
The first and second deadlines for redeeming tokens within the STC wallet (automatically) and through centralized exchanges have already passed in June. The third stage, set to end on October 9, 2024, involves submitting a Redemption Request and requires direct contact with the Student Coin team. The final phase, which will continue until April 9, 2029, allows users to sell their tokens on-chain.
What is Student Coin, and why is it shutting down?
Student Coin was launched in 2019 by a group of students from Kozminski University, a Polish business school. The project’s primary purpose was to explore blockchain capabilities and inspire academia to embrace crypto technologies. The experiment proved a success and led to further initiatives, including creating the STC Wallet, launching the STC Academy, and, finally, establishing Coinpaper.com, currently one of the leading crypto news portals.
After a period of rapid growth and impressive valuations, the STC token faced a challenging environment. Economic turmoil, industry scandals, and regulatory uncertainty dampened its momentum. Despite navigating these stormy waters, the Student Coin team remained dedicated. They launched new initiatives, refined existing products, and prioritized user protection during major crypto collapses like Luna, UST, FTX, Genesis, and Celsius.
However, keeping the best interests of the community at heart, the Student Coin team has made the difficult decision to sunset the STC token and related projects, including the STC Terminal, STC University, and others.
STC Token Price Chart, source: StudentCoin.org
After winding down the STC ecosystem, the team shifted its attention to developing new projects, with a special focus on Coinpaper. The crypto news outlet has been experiencing significant growth, with an impressive monthly user increase rate of nearly 19.75%, suggesting a bright future ahead.
How to stay informed about the STC redemption process?
Throughout the project, the STC team prioritized transparency and responsible approach to handling user funds. Users can stay informed about the developments of the redemption process by…