StakeCube in Numbers
A very quiet week for the Crypto markets, with prices going mostly sideways up until today. Seems like now Bitcoin is starting to go up a bit more, approaching the $42,000 level. Ethereum had a very good week going up more than 13%, probably influenced by the successful test of the merge that took place on one of their testnets. Seems like this test is giving people the impression that the transition to Proof of Stake for Ethereum could happen very soon. On StakeCube we had a really good week with all indicators in the green. In particular exchange volume is maintaining pretty high levels with more than $100,000 daily over the last 2 weeks. Our Alexa rank also seems to be steadily climbing lately.
- User Count: 138,175 +0.32%
- Pool Value: 567.57 BTC +0.83%
- Daily BTC Mined: 0.026 BTC +4.00%
- SCC Price: $0.52 +19.49%
- SCC Market Cap: $5,499,000 +19.43%
- Daily Exchange Volume $111,302 +1.28%
- Alexa Rank 15,822 +373
This was a good week for many of our listed coins as well, including SCC reaching the top 3. NAV made the top 2 for the second week in a row while BLOCK grew an impressive 50%.
These were the top 5 gainers for this week:
Top 5 Gainers
- BLOCK +49.9%
- NAV +25.9%
- SCC +19.4%
- FLS +18.9%
- SYS +15.9%
V3 Release Update
Work is progressing well on most aspects of V3, with the sole exception of the new frontends. Unfortunately, the code created by external and former developers did not pass our security audits or more generally meet our quality standards. This has forced us to start coding the frontend again from scratch. We have now hired new developers to help with this task as well as put our internal team to work on it.
As a consequence of this setback we made the decision to postpone the release. As you will surely understand we cannot compromise security under any circumstances. We have no need or intention to rush the release and deliver a broken or even unsecure product.
We know that some community members act as if everything for StakeCube hinged on the V3 release, but this isn’t really the case. StakeCube is not in need of saving, we have a working platform that serves the purposes it is designed to fulfill. It provides a great variety of Crypto services to more than 100,000 users, with 300 to 400 new ones joining every week. With the current architecture, it cannot scale, but scalability is hardly an issue right now. Sure, we have very ambitious plans for the release of V3 and we are all very excited about them, but let’s not act like we need V3 to save us from failure. We don’t need rescuing; we are functional at the moment.
If you have experience with React and you want to help our efforts, feel free to contact us via support ticket on our Discord.
General Statement Regarding StakeCube and its Ecosystem
Over the last few months we have been rushing and putting a lot of pressure on the team to deliver V3 as soon as possible. In doing so, we feel that we have lost contact with the community. None of us has time anymore to interact with users in the chats and we can feel a general loss of enthusiasm.
When we started this in 2018 there were much more dynamic conversations and flow of ideas. We were building StakeCube together back then. Let us get this back. Remember that you can contribute too, it is not just the team that makes StakeCube but also the community. If you want to help, make sure to welcome newcomers in the chats and to answer any questions they might have. You can also make suggestions on how to improve the platform or request features in the #feature-request channel.
Dedicating all of our resources to the development of V3 has stalled progress in all other fronts, with no new listings or features. We have also stopped development in other areas such as SCP. We created in SCP a greatly scalable smart-chain with very low fees and all sorts of capabilities that other smart chains can only dream of. Where else can you send NFTs for less than one cent? Where else can you deploy a token with a few clicks? Putting the whole development team to work exclusively on V3 has forced us to stop working on SCP right when it was showing most promise.
This will not do. We cannot neglect StakeCube in a wild pursuit of an early release for V3. From now on we will renew development for SCC and SCP, while making small additions to the existing platform. We will do this in a responsible way, while development of V3 continues at good pace. All other aspects of V3 (branding, backend, marketing preparation, company administration, etc.) are ready for the release, which will come once we manage to finish the frontend and do the necessary testing rounds as mentioned above.
New Listings: Sapphire and Firo
As we mentioned, we want to make a few simple additions to StakeCube while work on V3 continues. That is why we have decided to list two new coins this week: Sapphire (SAPP) and Firo (FIRO).
Sapphire is a masternode coin, having one of the most expensive masternodes out there. The collateral for a Sapphire masternode costs close to $115,000 at current prices. This masternode also has a pretty high yearly ROI at around 60% which makes it a perfect fit for StakeCube, as users will be able to cash out rewards for Bitcoin through our exchange and then earn interest on the profits.
Apart from masternode rewards, Sapphire offers the possibility to earn staking rewards. All SAPP that you own will earn staking rewards except those in shares of a running masternode or in NodeCube masternodes. Remember that on StakeCube coins in collecting shared masternodes still earn staking rewards up until the point when the masternode is “running”. From then on, they will only earn masternode rewards.
Firo is a coin with a very long history, one of the first ones that had masternodes. This coin is also the most voted one at the moment by our community. Those of you who voted for it will get the credits you used to vote returned. The Firo masternode has a pretty conservative yearly ROI of 11% but with a price tag of around $4,000 it is a more affordable option.
Both coins will be added shortly, but the wallet will remain in maintenance while we perform the necessary tests.
Learn more about Sapphire and Firo in their respective websites:
Syscoin Shared Masternode
The new Syscoin shared masternode is now full and running, the first reward should arrive in the next 2 or 3 days. There is now a new one collecting, for those of you that missed the previous one. You can reserve a slot here:
If you don’t know how to do it, just follow this guide:
Meatec had another maintenance downtime on the 17th and 18th of March. Due to this we were not able to receive the rewards for those days and instead we will have to pay them all together on the 19th.
This was their communication:
Cryptocurrency prices have recovered somewhat, slightly increasing mining returns again. Hashpower growth also seems to be stabilizing lately, with the value staying around 200 EH/s for some time after the huge increase of last month. With a bit of luck prices will continue to increase and mining revenue will improve.
These are some statistics for MineCube as of today:
- 583 users with at least 100% recovered
- 169 average workers per user
- Highest recovery rate: 138.21%
- $2.30 million worth of workers sold
These are some statistics relevant to the mining of Bitcoin:
- Hashpower: 202.89m TH/s +6.19%
- Difficulty: 27.55t -0.14%
- Bitcoin Price: $40,455 +5.64%
And these are the current number of miners for each coin (including damaged):
- BTC: 356
- Dash: 110
- ETH: 19
- LTC: 11
We are seeing lots of new tickets with users asking about a pending withdrawal just a few seconds after starting it. Remember that withdrawals usually take a few minutes to go through, and can occasionally take up to 24 hours in rare cases.
You can track all pending withdrawals here:
If you see your transaction there, just wait until it has reached the necessary number of confirmations.
Min RDD Withdrawal
We have increased the minimum RDD withdrawal amount from 200 to 5,000. Apparently the wallet was having some issues processing low amounts, dropping small withdrawals from the mempool which would then never be processed.
As a major update for SCC approaches, we thought it’s a good time to see how the SCC burn is progressing:
- SCP Tokens: 29
- NFT Collections: 245
- Total SCC burned through SCP: 2740
Close to 3 full masternodes burned already. Still not a lot but with a 10 SCC fee for creating tokens and collections this could become very relevant with a bit more usage. For instance, 10,000 collections deployed would already be enough to burn 1% of the current supply. The SCP burn might make SCC a deflationary coin one day.
Wallets in Maintenance
Nothing has changed, as we continue to wait for the same things as last week. Nevertheless here’s the status of all of the listed coins that are in maintenance:
- KTS: Remains in maintenance due to a hard fork. The new wallet is delayed because of the war in Ukraine.
- LUX: Remains in maintenance with explorer issues and an upcoming new chain.
- TUP: Remains in maintenance awaiting a new wallet.
- ULG: We are working with the ULG team to resolve the wallet issues being experienced. No clear solution yet.
We will continue posting this status report every week so that you always know the reason why a specific wallet is in maintenance.
The latest major release for SCC Core is currently in the polishing stages. It comes with a massively improved UI, new branding, and highly improved node stability, security and general robustness.
The upgrade has been built to be fully seamless without any technical steps required. It backports over 1 year worth of Dash commits into the SCC codebase, as well as revamping the UI, node performance, and patches to reduce the notorious RAM-guzzling that prior releases had been experiencing.
Here’s a look at the newly refreshed design!
With the revamp of SCC, come new features and improvements to SCP as well! The latest feature being the ability to sign and/or verify signatures using your SCP address.
This feature will be a major step to providing Web3.0 services such as ‘Login with SCP’, or the ability to claim explorer addresses. Another example could be using it to prove your authorship of an NFT by signing a (highly egotistical) message. But there are many other use-cases and possibilities that could be explored thanks to this feature!
Alongside this, SCP full-nodes have received some love, with the latest commit adding a patch to a bug which prevented some full-nodes from synchronising. If you’re running a full-node, we highly recommend using the latest patch!
These are this week’s selected requests from the #feature-request channel:
- A page with measured wallet uptime and other relevant wallet statistics
- StakeCube Mining pool
- Ability to modify/update registered email and username
The last one will definitely be present in V3, as for the others we will review them and update the community at some point. As we have been collecting these requests for a few weeks already, we will soon publish a full list of them explaining which ones come with V3 and our thoughts for the implementation of the rest.
Wallet Maintenance News
No wallets had to be updated this week.
We installed the following Sapphire and Firo wallets:
Please read the following information regarding the security of your account and funds:
The StakeCube.net 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: