StakeCube in Numbers
Another week, another Crypto crash. This time it seems that the Crypto markets are just following the stock markets after all. Both have moved almost identically for the last 2 weeks, and the worst could still be ahead. Fear of interest rate raises could make stocks plummet even faster, taking everything down with them as capital flees back to fiat. We have seen similar scenarios play out in the past, and in those times Crypto bounced back faster and stronger than the other markets. If it comes to that, let us hope it happens again this way. However there are also voices saying this is the bottom. Indicators such as the Crypto Fear & Greed index seem to point this way, with values deep into “Extreme Fear” territory today. If you didn’t know this indicator, you can check it out here:
On StakeCube we also felt the downturn, but SCC is showing resilience, managing to hold its BTC value this week. In the DeFi realm, it is said that governance tokens tend to have a market capitalization equivalent to the total value locked in the protocol. When the market capitalization of the token is below this level, it is considered undervalued. While StakeCube isn’t a DeFi protocol and our pool value is not exactly the same as total value locked, the market capitalization of SCC is today 3.6 times smaller than the pool value of StakeCube.net. For the market capitalization of SCC to be equivalent to the pool value, SCC would have to be worth $2.2. Therefore, from this point of view we could say that it is severely undervalued at the moment. Even more so considering that SCC is much more than a simple governance token.
- User Count: 134,010 +0.51%
- Pool Value: 586.52 BTC -0.50%
- Daily BTC Mined: 0.047 BTC -9.62%
- SCC Price: $0.62 -12.68%
- SCC Market Cap: $6,302,000 -12.37%
- Daily Exchange Volume $70,821 -34.86%
- Alexa Rank 16,809 -64
This week’s crash has left very few survivors, however 5 of our listed coins managed to have positive growth.
These were the top 5 gainers for this week:
Top 5 Gainers
- ESBC +93.4%
- DOGEC +21.8%
- GHOST +13.7%
- PHR +10.9%
- TUP +3.9%
Back when StakeCube started in 2018, our slogan was “the community-driven staking pool”. Although many things have changed since then, this is one that we have not forgotten about. While it might feel that we aren’t paying so much attention to the community lately, this is only due to us putting all of our energy into development. Now that the release date is closer, we want to renew our efforts in this direction.
First thing we want to do is pay close attention to feature requests. All these years we have kept a #feature-request Discord channel where you have put your wishes for new developments on the platform. We are now reviewing them closely, and will be posting the best ones on the newsletter moving forward. Although many have already been implemented into StakeCube Version 3, we will start implementing the rest in Q2. Both the team and the community will have a say in which features take priority, however we haven’t decided yet on a format for the voting.
Apart from this, we are working on new ideas and tools to improve our communication with the community. For instance, monthly voice chats where everyone can interact with the team, or “building-together” areas where we can discuss different StakeCube or SCP integrations.
The first step will be improving the structure of our Discord channels, and the communication between all of the other StakeCube ecosystem Discord servers (eSports, SCC/SCP and StakeCube Ventures). For this, we will start sharing information with all Discord servers as well as introduce additional links to help users find them.
This will be the structure of the new Community Discord server:
- Support categories and tickets will not be needed with Version 3, as we are integrating support into the platform itself.
- International channels will be closed and archived. Most of them are barely utilized and it is impossible for us to moderate them anyway. Instead, we encourage our community members to open unofficial language-based Discord servers and Telegram groups if they’re interested. We will put links to these unofficial channels both on the website and in the #Explore-Ecosystem Discord channel.
- We are also removing the SC Bridge / Notification channels, as they are basically unused. Moreover, users will be able to create their own webhook-bots using our new upcoming API.
New NFT Fever on SCP
The past few weeks have seen an uptick in interest on SCP NFTs, with many new collections created and traded on the marketplace. A lot of this activity was centered around the SCP Discord:
One collection in particular stood out because of the quality of the art and the success it achieved on the marketplace. This was the Xolo Gang collection:
Not only did it sell out almost instantly, but also the price floor has already increased to 55 SCC. This is considerably higher than the 5 SCC it was when they were launched.
They are also present on social media. Feel free to give them a follow here:
If you’re looking to start your own NFT collection on SCP, SpectrumDogeCash, a community member, has made a very thorough video guide you can use:
Last Tuesday at 9:30 UTC there was a scheduled IPFS cluster maintenance. During this time, it was not possible to mint NFTs on the SCP wallet. Users that tried had an internal server error message displayed on the SCP wallet console. Apparently the downtime was necessary to move content from an old cluster to a new one. They expect this to improve the performance retrieving data from IPFS.
You can stay updated about the status of the IPFS service here:
Unfortunately with the renewed interest in SCP NFTs there was also an increase in bad actors creating NFTs that break the rules. Collections are banned from the marketplace when we have the suspicion that they do not meet our rules. See here an example:
These pictures were stolen from other places, for example some of them came from here:
We will unban collections only when the creator provides sufficient proof of ownership of the copyright for the images they have used. Find the rules on NFTs and collection verification here:
Monk Collateral Change
At block 400,001, Monk will once again change the collateral of their masternodes, increasing it from 20,000 to 30,000. This will happen approximately on the 10th of March. Once the change is effective, masternode owners will have to destroy their NodeCube hot nodes and redeploy them with the increased collateral to continue receiving rewards. We thought we would give you a heads up, so that you can properly prepare for it.
Graphene 3rd Airdrop
The Graphene airdrop corresponding to the 3rd snapshot date is now available. Tomorrow we will claim it and start distributing it to the users that were holding Phore on the snapshot date. That was the 9th of May 2021.
Some of our users have asked us about the answers to the Meatec AMA questions. As we said a few weeks ago, we asked Meatec for further clarification on some of the questions and are still waiting for them to submit the answers again.
This week Derek participated in the ComfyCast Podcast, as we previously announced. The Podcast will be made public tomorrow on all podcast outlets, YouTube, Spotify, Stitcher, Apple, Anchor, Soundcloud, etc. Spotify has the largest listener-base for this podcast. You will be able to listen to it here tomorrow:
You can also go to Spotify directly using this link:
First Full-Staff Meeting of 2022
Last Saturday we had the first meeting of 2022, with the full StakeCube team in attendance. Many topics were covered, including the last steps for Version 3 development and release strategy.
We can’t wait to show you what we have been preparing for you.
This week there was a huge increase in Bitcoin mining hashpower, which combined with the falling prices is sure to greatly diminish MineCube returns.
These are some statistics for MineCube as of today:
- 515 users with at least 100% recovered
- 172 average workers per user
- Highest recovery rate: 135.74%
- $2.27 million worth of workers sold
These are some statistics relevant to the mining of Bitcoin:
- Hashpower: 198.85m TH/s +13.91%
- Difficulty: 24.37t +0.12%
- Bitcoin Price: $37,507 -12.94%
- StakeCube Hashpower: 1,559.0 TH/s -1.39%
And these are the current number of miners for each coin (including damaged):
- BTC: 352
- Dash: 110
- ETH: 18
- LTC: 11
StakeCube Version 3 Update
With the release of Version 3 scheduled for the end of this quarter, we will begin revealing more details about it. Starting next week, we will make public specific upcoming features and changes. For the moment, let me give you a brief introduction to our vision for StakeCube Version 3.
StakeCube Version 3 has been a complete redesign of the platform, all the way from the bottom up. On the backend side, we have employed the newest tech to ensure that the platform is fully performant under any conditions. StakeCube will now be able to handle any amount of traffic that comes its way, while the new exchange can process more than 200 million transactions per second. The frontend is also completely new, fully reworked by professional UX designers to provide great ease of use. We have put particular interest into redesigning the “earn” functions of the new StakeCube. You will know more about this very soon. And of course, the platform also has many new features, some of which were suggested by our community.
But this redesign does not stop at the platform StakeCube.net. We want to expand, we want the world to see us, to find us, and for that we needed a recognizable brand. For this we also counted with the help of professionals in the field, as well as graphic designers that created not just the media pack you have already seen but also custom icons, logos, and everything we need to put our brand out there and give StakeCube an eye-catching new look.
On top of this, we are doing a lot of documentation work. We are preparing a series of new documents, guides, whitepapers for every branch of the StakeCube ecosystem (StakeCube.net, SCC, SCP, StakeCube Ventures, StakeCube eSports). This is important to serve as a way for people to know our project, as well as to answer any questions our community members might have.
And as we spoke of before, we have contacted several marketing agencies to launch a huge campaign on social media starting already a few weeks before the release date. We have also been working on a few new partnerships with important Crypto projects that will definitely contribute to the success of the launch.
Most Requested Features
As we mentioned, we are now paying closer attention to the #feature-request Discord channel, as it is full of excellent suggestions. These were the 3 most requested features up until now:
- Disable Staking/Interest Function
- Burning Dust Function
- Landing Page with User Stats
I can confirm that all of these will be included in the new version of StakeCube.
Wallet Maintenance News
No wallets had to be updated this week.
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: