This Week on StakeCube, 1st of July 2022

General News

StakeCube in Numbers

Yesterday we finally said goodbye to June 2022, a month that has brought us the biggest drop in Bitcoin price since 2011. The price crash has also precipitated a spiral of negative events, as multiple exchanges and Crypto platforms experienced solvency issues and were forced to halt withdrawals. Seems like the mood couldn’t be any lower, as still there are no signs of recovery and some people predict that Bitcoin will continue to fall down to $15,000, $13,000 or even 4 digit territory. However, even though the Crypto market is going through a pretty terrible moment, let’s not lose perspective. The fundamentals are still the same, and Bitcoin’s supply is still capped at 21 million. What we are seeing now is nothing but the collapse of excessively greedy and irresponsibly leveraged projects promising impossible gains to their clients. This is a much needed purge and the Crypto space will endure thanks to the surviving projects that acted responsibly and had their accounts in order.

Things on StakeCube remained pretty calm, as we continue to prepare for our first Crypto event next week. SCC price is still stable around 900 Satoshi where it has been for the last few months, and our Pool value continued to grow this week. It is remarkable how stable our Pool value is, given the incredibly volatile market conditions.

  • User Count: 144,632 +0.27%
  • Pool Value: 565.91 BTC +0.84%
  • SCC Price: $0.180 -9.09%
  • SCC Market Cap: $1,946,000 -9.19%
  • Daily Exchange Volume $24,331 -5.25%
  • Daily SCP Transactions: 22 +37.50%

Top 5 Gainers

Our best performer this week was Stratis, almost doubling in price in just one week. This is probably a market reaction to their latest update, announcing initiatives such as a stablecoin, an NFT ticketing system (a new take on NFTs that has nothing to do with art), and some other projects. Read more about it here:

Only 4 listed coins ended the week in the green, as most cryptocurrency projects lost dollar value:

  1. STRAX +94.6%
  2. PNY +19.7%
  3. NEBL+15.8%
  4. SMART +2.1%
MineCube Poll and News

As we announced last week, we have had an internal debate regarding the results of the poll. The first thing we noticed is that some people have been late to vote, as we continue receiving votes even today. Because of this we have made the decision to extend the voting period another week so that everyone’s opinion can be heard. Therefore, the final deadline for voting will be the 5th of July. Only votes submitted before this deadline will be counted. Additionally, we will send a reminder to all accounts that have not voted yet to ensure that no one misses their chance.

As for the missing payout, again this week we received no mining rewards because of the same reasons we mentioned last week. If you missed it, you can read it here:

Either way, MeaTec also had a planned maintenance period on Tuesday and Wednesday . This was their official communication:

Graphene Airdrops

The Phore team has announced that after a thorough revision they have now corrected all data regarding the Phore balance snapshots. They also communicated that they are now confident to proceed with the 4th Graphene airdrop. For those of you that don’t know what this is all about, the Phore project is airdropping a BSC token called Graphene to all that were holding Phore at several given snapshots. StakeCube will receive the corresponding tokens and credit them to all that are entitled to the airdrop.

You can read more about it on the following blog:

USDT Pairs for TUP

Following the request by many users that we reopen the USDT pair for TUP, we have reactivated it once gain. You can already use it to trade TUP here:

This was the TUP team’s reaction:

London Whale Event

These are the last few days before the event where you will get a chance to have a chat face to face with the StakeCube team! In case you missed it, StakeCube will be participating in the London Whale Crypto event that will take place in London on the 4th and 5th of July. The event will be held in a venue called Yum-sa, that has stated they will accept all coins listed on StakeCube as means of payment for food and drinks:

Our CEO Oleg Warkentin has confirmed that he will assist, so feel free to pay us a visit and say hi! This is him on Twitter:

You can get your tickets and find all important information about the event here:

VSX Swap

We are now in the last preparation stages of the VSX swap to Stelix (SLX), which will be an SCP token. As requested by the Vsync team, we have closed deposits of VSX today:

The Vsync/Stelix team shared all details regarding the swap through their twitter account:

The swap ratio will be 5:1, which will convert a total of 99438099 VSX into 19888619.8 SLX.

You can check out the SCP contract for Stelix on our official SCP explorer SCPScan:

Once the Stelix team provides the tokens necessary for the swap, we will open a swap page where you will be able to burn your VSX and claim your SLX.

Unscheduled Exchange Maintenance

As we informed before, we are in the process of transition to StakeCube Version 3, which will fully revamp the platform. For this, we have to run different background jobs to prepare and clean up the databases before porting them to the new system. We already communicated this in a previous edition of this newsletter:

Yesterday during one of the validity checks we noticed an issue with old cancelled and filled orders that was considerably slowing down the database. Although the issue was affecting performance, it has not affected the transaction history of users in any way. Nevertheless we decided to stop trading on the exchange in order to tackle the problem. This was the official communication on the exchange page:

Regarding the background jobs we informed about two months ago, a quick note with respect to this part:

“We ran a background job to check the data integrity of every account on StakeCube. This process recalculated all data based on the activity made on the platform since registration. The system detected a few balance errors on some accounts, caused by rounding errors that took place on previous versions of StakeCube.”

In order to avoid confusion on the side of the user, we have changed the denomination of the deposits we made to correct the rounding errors from “IT-sc-internalid” to “SC-SYSTEM-RECALC-internaltx”. This way you will be able to identify them better and avoid mistaking them with internal deposits from other users.

SCC Algorithm Change

We are in the process of researching and testing a possible algorithm change for SCC from X11 (Dash based/ASICs) to X25X (GPU). This could help us thrive in the current difficult market conditions, with elevated electricity costs, and ASIC spare part shortage. It will also help us take advantage of the large GPU availability once the ETH merge takes place and ETH becomes a PoS coin instead of PoW. Our aim is to improve our hashrate distribution, making it less centralized and thereby decreasing the number of chain splits. It would also add fair soft-fork signaling, analogous to the taproot system introduced to Bitcoin.

At the moment we have a testnet, and our team has mined a few blocks with CPU. Our next test will be using GPUs with main focus on difficulty adjustments and block spacing. Once we set up the needed masternodes before the first payment block on testnet, we will invite the community to participate in the testing process. We will also provide you with more information regarding how you can contribute in one of the future editions of the newsletter.

Meanwhile feel free to check out PR details and commits on our Github page:

Development News

StakeCube V3

Websocket development has progressed quickly, now with real-time subscription-based market data, and the ability to add websockets to many future V3 components to make the user experience extremely fast and sleek.

Additionally, new security measures have been implemented. V3 users will be able to whitelist/blacklist individual devices based on their system specs and IP. The full system can be enabled/disabled by the user depending on their preferences.

Wallet Maintenance News

Wallet Updates

We updated the following wallets:

Previous version: 0.7.1
New version: 0.7.2

Previous version: 1.10.13
New version: 1.10.19

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: