This Week on StakeCube, 5th of August 2022

General News

Crypto Markets Update

Mostly sideways price-action for the Crypto market this week, as BTC and ETH have not moved much in price for a few days. The big story this week was the announcement of a cooperation project between Coinbase and Blackrock to allow for institutional investors to participate in cryptocurrency investments. Although these news are very relevant for the Crypto space in general, so far it seems to be affecting mostly the price of Coinbase stock. The Crypto Fear & Greed indicator also shows a slight cooling down of last week’s enthusiasm. Nevertheless there have been some exceptions, with top coins such as BNB and DOT achieving pretty decent weekly growth.

Although not much is going on at the moment, in the coming weeks there could be some turbulence on the markets. The unfolding situation with military exercises around Taiwan is definitely a great source of uncertainty at the moment. Markets are also closely watching macroeconomic indicators such as inflation, GDP growth and unemployment data to determine whether we are entering a recession, to try to anticipate what actions central banks will take.

StakeCube in Numbers

As has been the trend the last few weeks, StakeCube shows pretty decent weekly growth on most indicators. While daily exchange volume remained relatively flat, SCC continued its upward trajectory; trading at the moment around 1,300 Satoshi.

  • User Count: 146,227 +0.22%
  • Pool Value: 701.49 BTC +7.06%
  • SCC Price: $0.294 +6.52%
  • SCC Market Cap: $3,137,000 +5.09%
  • Daily Exchange Volume $94,951 -3.17%
  • Daily SCP Transactions: 17 +13.33%

But most importantly, this week our Pool value experienced a pretty sizable growth, this time taking us to a new all time high. This is a great show of strength for StakeCube, as very few projects can brag of reaching ATHs in the middle of this bear market.

Top 5 Gainers

This week NEBL leads the top 5 gainers among our listed coins, with a spectacular 118.4% weekly growth. Second was TUP; one of the most popular coins among our users. RVN also made the top 5, which is interesting, as they seem to be reaching it quite often lately.

  1. NEBL +118.4%
  2. TUP+50.9
  3. RVN +16.6%
  4. BNB +13.7%
  5. RDD +9.6%
NodeCube Updates

As we mentioned in the past few newsletters, we are in the process of performing a series of important updates for NodeCube. Last week we informed of some new backend developments, and the beginning of the process to improve masternode stability. You can read more about it here:

So far we have managed to update 20% of the masternodes, which makes us believe that the estimate we gave of 30 to 40 days will be accurate. We have also noticed that not only has the stability of these nodes improved significantly, it has also reduced maintenance time requirements by almost 100%. All remaining problems with masternodes can be traced back to blockchain or wallet issues such as low peer count or generally unstable daemons. However, our technical team will be able to fix these nodes as soon as our internal system detects them. Moving forward, we will continue updating our systems as planned.

We have also introduced a new email notification system for SCC and PRIV masternodes. Users with masternodes having the status POSE_BANNED will now be informed via email, with instructions on what actions they need to take on their private wallets.

Graphene Airdrop

This Monday, the Graphene team announced the sixth Graphene airdrop to Phore holders. Unfortunately, as we have not yet received the Graphene tokens from the fifth airdrop, we will not be able to credit them yet. Once we receive all the corresponding tokens, we will proceed to distribute them. This was the official announcement from the Graphene team:

We explained the reason why we did not receive the tokens two weeks ago on this newsletter. You can read more about it here:

MeaTec Downtime

MeaTec once again had some trouble with the power plant, and announced a downtime of their farm for 36 hours. However, as we stated some time ago, at the moment our miners are not generating any positive revenue either way.

Monk Collateral Change

Monk masternodes have once more increased their collateral requirement from 50,000 coins to 70,000. This makes it necessary to redeploy all masternodes with the new collateral. In order to continue receiving masternode rewards, users must destroy all hot nodes they had with the previous collateral amount, and set up new ones.

KYDC Delisting and Others

As we informed last week, KYDC will be delisted from the platform. Withdrawals will be closed on August 15th, 2022. Read more about it here:

We are also considering delisting the following coins:

  • CTSC
  • ULG
  • HCC
  • LUX
  • DAPS

These coins are either unstable, or have had no working explorer for months; either requiring too much effort from our technical team to maintain, or making it impossible for us to check transactions. Next week we will announce our decision with respect to the delisting of these projects.

Wallets in Maintenance

This is the status of all wallets currently in maintenance:

  • DAPS: The wallet does not sync.
  • HCC – The explorer does not work.
  • LUX – Syncing at the moment.
  • ULG – No existing blockchain explorer.

Development News

StakeCube V3 Screenshots

This week Oleg published two new StakeCube V3 screenshots. The first one shows the new details page for the Earn system, which shows important information on the masternodes and staking addresses underlying it. This page will provide all necessary data to ensure full transparency, such as masternode reward ids, blockchain addresses to find the collaterals, and a great variety of performance statistics to help you decide which coin to invest in.

The second screenshot shows the SCC Profit Share page. As we informed a few weeks ago, we are bringing a new Profit Share system for SCC with StakeCube V3. This system will reward SCC holders with part of the fees collected through the StakeCube platform. On the Profit Share page, you will be able to claim and track these rewards, with a few performance indicators to give you an idea of the investment performance of your SCC holdings.

StakeCube V3 Development

The V3 exchange engine, as well as the deposit system, have both now been connected with full persistence to the system. Barring any further changes; this means that it is now possible for us to do internal testing and trading on the system. This gives us the ability to test real on-chain deposits, while we proceed with the implementation of further features such as EARN and Hot/Cold nodes, optimize the trading engine, and continue on building the frontend simultaneously.

Wallet Maintenance News

Wallet Updates

No wallet updates were necessary this week.

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 our support email:

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: