You may have noticed that the Cirrus token (CRS) begins trading on DigiFinex on the 22nd November 2021. This blog aims to explain the token, its utility, and how Cirrus fits within the wider Stratis Platform ecosystem.
What’s the utility of the Cirrus token?
Cirrus is a gas token that fuels smart contract transactions on the Cirrus Sidechain. Anyone interacting with smart contracts on the Cirrus Sidechain for DeFi, NFT or other uses will require Cirrus tokens to pay for those transactions.
As DeFi and NFT activity increases, the more smart contract calls on the Cirrus Sidechain will be necessary, causing demand for the Cirrus gas token to rise. As more Cirrus tokens enter circulation, the same number of STRAX tokens become locked on the mainchain.
Why did Stratis create the Cirrus token?
We recognized long ago that it made sense to execute smart contracts on a sidechain rather than the Stratis mainchain. This avoids mainchain congestion by running high transaction throughput on a sidechain that can scale more easily without placing the risk on the highly secure mainchain. This avoids some challenges common to blockchains like Ethereum that suffer from high fees and slow transaction times due to constant demand.
Why is being listed now?
The Stratis ecosystem is growing rapidly, and the launch of the Stratisphere NFT platform and Opdex’s decentralized exchange are both expected before the end of the year. These capabilities will drastically increase use cases for Stratis and are expected to result in significant demand for smart contract execution. Therefore, now is the time to ensure users can access Cirrus tokens to power NFT, DeFi and gaming use cases on the Cirrus Sidechain.
What is the supply of the Cirrus token?
The supply of CRS Tokens is dynamic, based wholly upon the amount of STRAX that have been locked for the issuance of CRS Tokens.
How can users obtain Cirrus tokens?
There are two options.
Users can buy Cirrus tokens on the secondary market, as of November 22nd 2021 CRS will be tradable on DigiFinex with more exchange and third-party payment provider support to come.
Users can choose to swap STRAX tokens for CRS tokens (and visa versa) in a trustless manner, at a 1:1 ratio via the STRAX Wallet.
Where can I store my Cirrus tokens?
In order to store and interact with Cirrus tokens users need to download the Cirrus Core Wallet, which you can find here: Wallets.
Stratis is genuinely excited to launch its third hackathon, bringing in new talent and blockchain solutions, demonstrating the power of Stratis Blockchain Technologies. At Stratis, our mission is to simplify the adoption of blockchain technology within existing computing environments. We have built a platform written entirely in C# and based on the Microsoft .NET Core framework to deliver on this mission. The Build – Stratis Platform Hackathon is Stratis’ third virtual hackathon.
$100,000 USD has been allocated to the Hackathon Prize Pool, with a $30,000 USD Grand Prize and several other prizes to entice developer engagement. Stratis has also brought in some of its partners to sponsor the hackathon, including CMS, Triad Group Plc and the APPG, with CMS and Triad awarding a $5,000 bonus for those who deliver a submission that meets some of their defined requirements.
The Stratis Build Hackathon will launch on the 29th November 2021 and run for just under nine weeks, ending on 30th January 2022. This will be followed by a judging period, with winners being announced on 23rd February 2021.
The entry criteria are limitless; the only requirement is that your submission utilizes Stratis Blockchain Technology. An example of some submission types can be found below:
Blockchain Gaming Submission
Gaming submissions should include an end-to-end game, incorporating Blockchain Technology in some respect. This can be through the employment of an earn to play model, the issuance of non-fungible tokens or utilizing Smart Contracts to offer a genuinely trustless experience for the gamer.
Stratis provides Software Development Kits for both the Unity Gaming Engine and the Unreal Gaming Engine to assist with the game integration process.
DeFi Submission
A DeFi submission can implement a lending protocol, trade management solutions and anything related to financial services on the blockchain.
NFT Tooling Submission
An NFT submission should focus on tooling around the management, creation and utilization of NFTs. For example, an NFT Platform, NFT Creation Tooling and anything related to the management of NFTs. An NFT Collection can also be submitted but must stand out and be highly unique to pass judging criteria.
Stratis Platform Tooling Submission
A tooling submission must focus on bringing additional tooling to the Stratis Platform, such as an SDK that caters for an alternative programming language, or as another example, a wallet implementation.
The judges will be asking: does the tool provide a useful function, is it accessible and engaging to use, is it doing something innovative, how well does the product function? Submissions can cover any software application, such as the web, cloud, personal computer, mobile device or console, but they must utilize Stratis Smart Contracts in C#.
Now is the time to gain some inspiration and think about solutions you can build on the Stratis Platform, utilizing Stratis Blockchain Technologies, in readiness for the Stratis Build Hackathon launch. The launch of the hackathon will detail full judging criteria and getting started packs to assist those new to Stratis Blockchain Technologies.
We’ve had a busy month here at Stratis, and we are excited to share what we have been working on and what the rest of November promises to bring for our community.
From Hackathon victories to the launch of the OpDex Platform API, the month has been full of promising developments that show no sign of slowing down.
Student Hackathon Winning Ceremony
The Stratis Blockchain Student Hackathon Winner Ceremony took place on the 7 October at Inmantec Institutions in India. Developed alongside C# Corner, the competition allowed blockchain users and students to showcase their skills, with the overall winner awarded an Apple MacBook Pro and 200 STRAX. Competitors had to build solutions leveraging Stratis Smart Contracts in C# that were innovative, easy to use and could be applied across several industries. We offer huge congratulations to the winning team of Umesh Mahur, Abhishek Agarwal, Professor Ashish Bhatnagar and Dr Alok Singh Chauhan.
OpDex Platform API is available to the public
The Opdex Platform API project has been open-sourced and is now officially available to the public for collaboration. This project allows users to easily and effectively swap tokens, provide liquidity, collect transaction fees. The unveiling of this project marks Stratis’ first decentralised protocol utilising the world’s first native C# DeFi smart contracts.
We were delighted to attend the CBDCs & stablecoins evidence meeting hosted by our partners at APPG Blockchain on 27 October. APPG Blockchain is comprised of reputable organisations such as Capita and the BSI, who collaborate to offer insight and recommendations to those working on the UK’s blockchain approach. The meeting aimed to ask questions around the opportunities and challenges posed by CBDC (Central Banks Digital Currency) and stablecoins, from the logistics of currency design to what role commercial banking will play once digital currency is implemented.
Completed token burn
This month also marked the completion of our token burn, an effort to remove over 6.6 million STRAX from the circulating supply. This decision was received with near-unanimous support from our community last October, as 97.54% of users voted to swap out old STRAT tokens in favour of STRAX. As the Stratis project continues to develop and advance, this token burn will mitigate the difficulties experienced by users that struggled to integrate STRAT tokens into the network.
Release of Masternode dashboard
Another exciting development this month was the launch of the community testing release of the Masternode dashboard, a platform designed to simplify the management and monitoring of Masternodes and the role they play in validating transactions in certain blockchains.
CoinVault passed SDA vote
We are thrilled to announce that the blockchain development company Blockcore has passed SDA voted to build a MetaMask-like wallet named CoinVault. Coinvault is a non-custodial browser-based wallet for STRAX and CIRRUS tokens that allow users to store, send and vote on proposals.
Stratis Red Runner
Stratis has elected Red Runner — an open-source game developed by Bayat Games using the Unity 3D Gaming Engine — to demonstrate the uses of Stratis’ Unity SDK by installing a series of modifications such as a non-custodial wallet, NFT minting, and a play-as-you-earn function. These modifications mean that a gamer is rewarded for playing the game as the Red Runner Tokens are awarded based on the distance travelled and the coins collected by a player. You can download our edition of Red Runner below.
RedRunner is a popular open-source game developed by BayatGames and is an Infinite Running type game developed using the Unity 3D Gaming Engine.
To demonstrate the utility of Stratis’ Unity SDK, Stratis has taken the RedRunner game and made modifications to incorporate the below features:
Non-Custodial Wallet
NFT Minting
Play-as-You-Earn (The further you travel, the more SRC20 you receive)
A gamer is rewarded for playing the Stratis RedRunner game. The RRT (RedRunner Tokens) Tokens are awarded to users depending on how far they travel and how many coins they collect. In addition, CRS (Cirrus Tokens) can be received and transferred within the game too.
The Stratis Edition of RedRunner can be downloaded from our GitHub repository via the below link.
As promised, this blog will provide a sneak peek into the development of some exciting technology that Stratis will be delivering in the coming weeks.
A significant focus on gaming has seen Stratis invest time in developing reference game examples, utilizing their Unity Gaming SDK and various Stratis Smart Contracts in C#. Continuing in the gaming sector, Stratis has also targeted the Unreal Engine, producing an SDK akin to what they have already successfully delivered for the Unity Gaming Engine. This approach spreads the reach of Stratis and enables the engagement of another significant gaming development community. This demonstrates the power of the platform whilst highlighting its readiness for mass adoption.
In addition to the focus within the gaming industry, this blog will also provide an update on the launch of the upcoming NFT Marketplace and will touch on the exciting GBPT Stablecoin.
Stratis Unity Reference Games
To enable the continued adoption of Stratis Technologies, Stratis understands that there must be open-source examples that provide a valuable foundation for developers and projects who are new to the Stratis Platform. This ethos has resulted in Stratis dedicating resources to developing two games that will be licensed under the MIT Open Source license.
Red Runner
Red Runner is a 2D Mario-like runner game where the player has to run as long as possible, collecting coins before dying. All accumulated coins are saved between runs.
A player is rewarded with RRT (RedRunnerToken) Tokens for setting records such as most coins or longest run. In addition to earning tokens, NFTs can be minted too when reaching milestones within the game. Red Runner, with Stratis Blockchain integration will be available next week!
NFT Knives
NFT Knives is an exciting endless one-touch game. You touch the screen to force up the knife to destroy the wood target, avoid other knives and obstacles, collect coins to mint new blades and fight bosses. The game is nearing completion and is set for release next week!
Stratis NFT Marketplace
The Stratis NFT Marketplace is a genuinely critical part of the puzzle for the Stratis Ecosystem. As more games come to the platform, there is a need for such items to be traded and created. Enter the Stratis NFT Marketplace. Stratis will be providing the first and only platform within the industry to offer zero fees. Many other NFT Marketplaces charge final value fees similar to eBay; however, with the Stratis Platform, all proceeds are received by the seller, minus any encoded royalties for content creators, of course.
Stratis’ InterFlux technology will also be integrated into the platform, offering full ERC721 support, enabling the seamless transfer of NFTs between the Stratis and Ethereum blockchains. This crucial development will allow popular NFTs, such as the CryptoPunks, to be transferred onto Stratis Blockchain(s) for a zero-fee exchange within the Stratis NFT Marketplace.
With the introduction of zero fees and low minting and exchange fees, equivalent to 99% cheaper than the prices seen on Ethereum, Stratis is confident that the platform will be a success. Stratis are already in talks with well-known and established artists and celebrities interested in creating and publishing a collection on the Stratis NFT Marketplace.
The NFT Marketplace is set for an initial release on the week commencing 8th November 2021.
Stratis Unreal Gaming SDK
The Unreal Engine is the gaming engine that sits behind some of the worlds most popular games, such as; Fortnite, Borderlands, Gears of War and the BioShock series. The Unreal Engine relies upon the C++ programming language.
The SDK, similar to the successful Stratis Unity Gaming SDK, provides the ability to transfer coins, send OP_RETURN transactions, interact with Standard Token Smart Contract (SRC20) and NFT Smart Contracts (SRC721) via high-level API, as well as with other smart contracts via low-level (transaction-level) API.
The delivery of the Stratis Unreal Gaming SDK will open the door to a new community of developers. Stratis looks forward to uptake in developer engagement through the release and expects an increase in proposals to the Stratis Decentralized Accelerator. The Unreal Gaming SDK will be unveiled on the week commencing 1st November 2021.
GBPT Stablecoin Update
Stratis continues to progress with its legal and accountancy counsel to build a regulated framework for a stablecoin offering. Stratis is not interested in working around regulatory requirements and is committed to working with regulatory bodies to create a blueprint for stablecoin issuance.
From a technical standpoint, Stratis already has the technology to issue a GBPT Stablecoin. Stratis’ completed development state and early engagement with one of the “big four” places Stratis in an excellent position. Stratis’ engagement and in-depth blockchain knowledge are being utilized to build the framework that will be used in years to come when others look to issue a regulated stablecoin.
It’s clear to see that Stratis is making fantastic progress in all areas, especially within the gaming industry. The delivery of additional Gaming SDKs, reference implementations, an NFT Marketplace and the promise of a regulated stablecoin places Stratis in a fantastic position to reach new heights. Stratis continues to attract business through its uniquely genuine use of Microsoft’s .NET Core Framework. The future is bright.
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