FAQ for Starbase Token (Symbol: STAR) Sale

Q: What is Starbase Token (Symbol: STAR)?

A: STAR is rewardable, inflationary, consumable token of Starbase platform. By using STAR, you can receive crowdfunding/sourcing platform service, and by holding STAR you will receive reward from Starbase platform. Here’s the detailed STAR token explanation.
http://www.slideshare.net/StarbaseGlobal/starbase-token-star-detail

Q: What are the initial total number of coins?

A: Total issued STAR at first are 1 Billion. And STAR is inflationary token, maximum inflation rate is set to 0.00685 % daily, roughly about 2.5 % annually.

Q: What are the coin supply change?

A: Starbase token is inflationary token, and the daily inflation is 2.5 / 365 = 0.0685 % per day and 0.5% * {total_reward_paid_out}/ {total_tokensold_amount} additional inflation when Starbase platform rewards distributed for STAR token holders.

For example if Starbase platform pays out 3 times of fundraised amount of Ether and Ethereum tokens on ethereum blockchain to all Starbase token holders, then Starbase company can newly issue 0.5 % * 3 = 1.5 % amount of STAR token for the reward of reward payment.

Q: I want to know the 1 STAR token price

A:  500 M  Starbase tokens are on crowd sale, 50M for public marketing campaign such as paying for twitter, facebook, bitcointalk, mail magazine contributors. And 200M STAR for early purchasers bonus, 250M for founders & early contributors like developers, marketers.

Q: How will the STAR holders be rewarded?

A: Every Starbase token holder will gain reward as Ether or Ethereum Tokens.Starbase has 3 way of revenues 1. Token sale fee  2. Token issuance fee 3. Work-payment fee. And these revenue goes to Starbase platform revenue distribution contract, and STAR holders can withdraw from the contract.

STAR holders can withdraw the deposited revenue from the contract. Token sale fee will be deposited as Ether form, and Token issuance and Work-payment fee as the token form in 1 year or so from our initial launch.

 

Q: Will purchasers need to have KYC done?

A: KYC is needed to deposit and withdraw for fiat currency (governmental currency), but not for crypto tokens.

Q: Will the client be available at the end of the ICO so that we can begin to stake immediately?

A: STAR tokens are on Ethereum tokens. Ethereum is general decentralized blockchain platform. By using Ethereum, we can issue STAR as public immutable record, because once it’s recorded on Ethereum blockchain Starbase team itself can not modify the rule written there. Also core teams who will use Starbase also can do token issuance and sale on Ethereum.

Q: How can I purchase STAR?

A: You can start from our crowdsale site to purchase STAR token by paying Bitcoin, Ether or fiat currencies like USD, EUR. If you are U.S citizens or residents unfortunately you are not allowed to buy STAR. We are developing Terms and Condition cautiously with Switzerland lawyer. And early purchase opportunity open for some partners for Starbase.

These purchase payment transaction is recorded as USD value including a time bonus at the time, and after the crowdsale finished, then you will get token on Starbase platform. You can choose if you withdraw it from Starbase platform to your Ethereum address or remain to put on Starbase platform Investor

Q: Why should be Starbase better then Counterparty or Waves like token issuance blockchain platform?

A: Starbase platform is not specific blockchain, more like user-centric application on the internet. Our focus is not to make our blockchain, but to make the best benefits as crowdfunding/soucring platform for many challenges to create new services and products. We would like to provide best crowdfunding/sourcing platform for startup-founders, artists, animators, entrepreneurs in big company, who wants to challenge or support to create new services/ products.

Q: I am still trying to understand how the token holders get an ROI, revenue streams etc.

A:STAR is a kind of prelicense of Starbase platform. If you have STAR, then you can use it for using Starbase platform as fundraiser/employer, or purchaser/job-seeker . And also the STAR token is rewardable type tokens, if you have STAR token you will be able to receive Starbase platform revenue.

Q: What is the schedule of Starbase Token Sale?

A: Starbase crowdsale will start from about between May and July, 2017.
Here’s Starbase early purchaser, crowdsale, and the ICO schedule detail.
https://blog.starbase.co/early-purchase-crowdsale-ico-adec905b3e73#.5gs5k7r9a

Q: What cryptocurrency exchanges will support Starbase Token trading?

A: Starbase tokens will be traded on major crypto currency exchanges and Starbase team will convey our platform concept and token details to crypto currency exchanges. Starbase tokens are issued as ERC20 type tokens, which is like DigixDAO, Augur, SingularDTV, HackerGold, MKR tokens which are supported at many exchanges.

Q: What blockchain is Starbase using for token issuance?

A: We use Ethereum blockchain for Starbase Token issuance, and it’s ERC20 type tokens which is most common form of token contract with some set of APIs.  One of the world biggest various crypto-currency exchange Poloniex also trades ERC 20 type tokens.

We will support core teams’ token issuance for multiple chain from the 2nd year of operation.

Q: How to become Starbase Token Early purchasers?

A: If you have interested in joining as early purchaser direct message to Starbase team member on slack, or send us email to [email protected]