Stratis (STRAX) is a decentralized blockchain platform designed for enterprise developers to create personalized blockchain solutions. It offers scalability, sidechains, and C# compatibility, making it a user-friendly development platform. The native token, STRAX, serves as a utility token for transactions, staking, and masternode deployment, and is used to fuel the Stratis Blockchain.
Stratis (STRAX) is a versatile token that serves multiple purposes within the Stratis ecosystem. Here are some of the key uses of STRAX:
Purchasing Services: STRAX can be used to purchase or operate various services on the Stratis platform, such as sidechains, executing smart contracts, and staking to operate a node.
Staking and Rewards: STRAX is a reward token and can be staked to secure passive returns on the network. Staking involves locking tokens in a network smart contract for a predetermined time, providing a low-risk way to generate returns.
Sending Value: STRAX can be used to send value across the globe in a permissionless manner, making it a convenient means of transferring value.
Customizable Sidechains: Users can create and customize their own sidechains using STRAX, which can have their own consensus and governance mechanisms. These sidechains can also issue their own tokens.
Masternodes: STRAX can be used as collateral to operate masternodes, which can result in subscribers receiving fees.
Token Swap: STRAX is involved in token swaps, where holders need to obtain an EVM-compatible wallet like MetaMask to receive the new tokens.
Overall, STRAX is the main utility token for the Stratis network, providing a range of functionalities that support the development and utilization of blockchain solutions.
To store Stratis (STRAX) tokens, you can use a cold wallet. Here's a step-by-step guide:
Set up a cold wallet:
- Go to the "Cold wallet functionality" section and click the "Set up this wallet as a cold wallet" tab.
- Enter your password and click "Set up cold wallet" to complete the setup.
Generate a new Strax address:
- Use the AddressOwnershipTool to generate a new Strax address. This tool will create a CSV file with the original Strat address and the new Strax address.
Transfer tokens to the new address:
- Use the CSV file to transfer your tokens from the original Strat address to the new Strax address.
By following these steps, you can securely store your STRAX tokens in a cold wallet.
To buy Stratis (STRAX) tokens, follow these steps:
Create an Account:
- Register on a cryptocurrency exchange that supports STRAX trading, such as KuCoin, Binance, or Gate.io.
- Verify your email address and identity to secure your account.
Deposit Funds:
- Deposit funds into your exchange account using a debit card, credit card, wire transfer, or Bitcoin.
- Ensure the exchange supports your preferred payment method.
Buy STRAX:
- Navigate to the exchange's trading platform and select STRAX as the cryptocurrency you want to buy.
- Enter the amount you want to purchase and confirm the transaction.
- Store STRAX:
- You can store your STRAX tokens in your exchange account or transfer them to a non-custodial wallet for added security.
Additionally, you can also use decentralized exchanges (DEX) like Uniswap or Pancakeswap, but the process may vary depending on the DEX and its underlying blockchain.
