This Week on StakeCube, 17th of June 2022

General News

StakeCube in Numbers

Absolute carnage in the markets this week, not just for Crypto but also for stock and bond markets alike. Bitcoin finally lost the $30,000 level and went straight down to $20,000 where it remains for the moment. As $20,000 was the top for the previous cycle, this support should hold at least for a while. However so far there is no significant bounce, which would be expected after such a sharp move down. Most other cryptocurrencies got obliterated as well, to a similar extent or worse. The Crypto Fear & Greed indicator fell to the second lowest value of the whole time series and continues in deep “extreme fear” territory.

Aside from general factors affecting the broad economy such as rising inflation and questions regarding the refinancing of debt by central banks, the trouble experienced by the Celsius platform is probably at the root of the current Crypto crash. Celsius, a yield-earning Crypto platform, seems to have made a few poor decisions and is now likely insolvent, which forced them to stop withdrawals this week. This led to widespread panic and massive cashing out from investors of all sizes.

On StakeCube things remained relatively calm with our pool value even growing larger throughout this market crisis. This is a testimony to the loyalty of our community and the trust they put in us. SCC lost some value against the dollar, but managed to preserve its Satoshi price quite comfortably.

  • User Count: 143,824 +0.26%
  • Pool Value: 541.21 BTC +1.05%
  • Daily BTC Mined: 0 BTC -100.00%
  • SCC Price: $0.18 -28.00%
  • SCC Market Cap: $1,989,000 -25.39%
  • Daily Exchange Volume $33,445 -33.31%
  • Daily SCP Transactions: 29 +70.59%

Unfortunately none of our listed coins ended the week in the green, and so this week’s newsletter does not include the top 5 gainers list.

Crypto Crash

Since many users are asking through our social media whether we are in any way affected by Celsius or any of the other recent negative events, we thought it would be good to give a statement in this regard.

None of the StakeCube services (platform, ventures, etc.) had any positions with LUNA, Celsius, TRON or GBTC, and we hold no user funds in margin trading positions or similar. We also have no plans to participate in any such high risk activities. Because of this, we are not affected by any of the negative events taking place in the market at the moment. Platform operation including the exchange, interest earning and other fees all remain unchanged. If at some point we require to make adjustments to ensure sustainability, we will inform you at least 1 or 2 weeks in advance, as we always do for any such change that we foresee. However, for the moment we don’t see it necessary to make any changes.

MeaTec Maintenance

Once again MeaTec experienced a down-time due to maintenance, and because of this we were not able to credit the corresponding mining rewards for this week. These will be credited next week, if the miners remain online.

MineCube Poll

In case any of you missed it, last week we started a poll to consult MineCube users regarding the future of our miners at MeaTec. The poll was sent by email to all MineCube worker holders, and essentially it asks them to choose one of the following 3 options:

  1. Switching to the MeaTec hashrate-based system for a year and then MeaTec will keep the miners and stop sending rewards.
  2. MeaTec will try to find buyers for our miners locally and meanwhile everything continues as it was.
  3. We send the miners to a new host (PowerMining), with the corresponding risks and additional costs which will be fully covered by the user.

It is still early to share the results we got, but we are happy to have received 337 entries in the poll, which means that our users are taking the issue very seriously. As we mentioned, the votes we received will be weighted by the number of workers in order to provide a fair outcome to our largest investors. We will also read all your comments, in case we need further internal debate regarding these options and future steps.

If you hold some MineCube workers and haven’t voted yet, we encourage you to ask any questions you have through our social media, and to vote for the option that you think is best. We intend to let the poll run for at least another week.

Wallets in Maintenance

After extensive troubleshooting with the wallet developers, we will keep KTS in maintenance until they release a new update that properly addresses the issues we are encountering.

This is the status of the other wallets in maintenance:

  • ULG: Explorer stuck on 8/6/22.
  • HCC: Explorer stuck on 14/4/22.
  • DAPS: Wallet won’t sync.
  • LUX: Explorer issues, still awaiting new wallet/fork/swap.

Development News

Requested Features

These are this week’s selected features from the #feature-request channel on Discord:

  • Page with overall pool stats (pool size, daily/weekly/monthly earnings, graph with stats)
  • News section (inside StakeCube wallets page) for each asset where latest project news and updates are published.
  • Extended information about the Earn system, including statistics regarding the number of hosted masternodes, and coins staking.

We are definitely planning to add more statistics, data visualization and general information to StakeCube version 3, so it is very likely that these features will be implemented.

Wallet Maintenance News

Wallet Updates

We updated the following wallets:

Previous version:
New version:

Security Notice

Please read the following information regarding the security of your account and funds:

The team will:

  • Never contact you first
  • Never ask you to send them or move coins to some other address
  • Never ask you for remote access or to install any third party software
  • Never ask you for your password or 2FA codes
  • Never provide support using direct messages

If you observe any of these listed behaviors, someone is trying to steal money from you. This applies to all of our social media channels. Our team will post official messages in the appropriate channels, and we only offer support through our ticket system on Discord.

Please, also take into account the following measures to keep your account secure:

  • Enable 2FA in the account settings
  • Enable IP verification in the account settings
  • Use a strong password
  • Change the password regularly
  • Never share your password with others
  • Never allow remote access to your devices
  • If you require assistance, use only the official channels
  • Download software only from verified sources

SCP Wallet is now signed with JSKitty’s public PGP key. This allows users to verify that the wallet has been cryptographically signed and approved by him. Even if our GitHub is compromised, the downloads are still safe as long as the PGP verification confirms that the files have not been tampered with. If you download SCP, please verify the binary against our developer’s public key:

Social Media and Other Important Links: